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☆ Massachusetts woman beats incredible odds to win $1 million lottery prize twice in 10 weeks
▼ + stars: | 2024-05-05 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Christine Wilson from Massachusetts won her second $1 million lottery prize within 10 weeks. AdvertisementA woman has claimed her second $1 million lottery prize within 10 weeks, playing the Massachusetts State Lottery. Wilson's first $1 million prize was from Dubs's Discount Liquors, also in Mansfield. New Jersey native Evelyn Adams also won the lottery twice — in 1985 and 1986, earning her a total of $5.4 million. The odds of winning the lottery twice are 283 billion to one, according to UK National Lottery operator Camelot.

Persons: Christine Wilson, —, Wilson, Stuart C, aren't, Kevin Miller, Kenneth J Stokes, David, Kathleen Long, Evelyn Adams, didn't sate Adams, Juan Hernandez, he'd Organizations: Massachusetts, Service, Massachusetts State, Massachusetts State Lottery, Juan Hernandez of, New York, UK National Lottery, Camelot Locations: Attleborough , Massachusetts, Mansfield, Liverpool, Massachusetts, . New Jersey, Juan Hernandez of Nassau County , New York

☆ Beijing won't take potential use of military force off the table: Strategic advisory firm
▼ + stars: | 2023-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeijing won't take potential use of military force off the table: Strategic advisory firmKenneth Jarrett, senior advisor at Albright Stonebridge Group, discusses the meeting of U.S. President Joe Biden and Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation summit.

Persons: Kenneth Jarrett, Joe Biden, Xi Jinping Organizations: Beijing, Albright, Group, Economic Cooperation Locations: Asia

☆ Ohio Man Who Attacked Officers on Jan. 6 Gets Nearly 5 Years in Prison
▼ + stars: | 2023-11-16 | by ( Eduardo Medina | More About Eduardo Medina | ) www.nytimes.com time to read: +1 min

An Ohio man who assaulted law enforcement officers during the attack on the Capitol on Jan. 6, 2021, and who the Justice Department said became a “one-man misinformation machine” as he spread lies online about what occurred that day, was sentenced on Thursday to four years and 10 months in prison. The man, Kenneth Joseph Owen Thomas, 41, of East Liverpool, Ohio, had said online that his conviction in June on four counts related to his assaults on officers was a “huge win,” doubling down on his attacks that day, prosecutors said in court documents. They emphasized his apparent lack of regret in their sentencing memo, stating that Mr. Thomas had “expressed no remorse for his crimes,” and instead “sought fame and notoriety” after being part of the mob on Jan. 6. Judge Dabney Friedrich of U.S. District Court in Washington also ordered Mr. Thomas to pay a $20,000 fine and $2,000 in restitution.

Persons: Kenneth Joseph Owen Thomas, Mr, Thomas, “, Dabney Friedrich of Organizations: Capitol, Justice Department, Dabney Friedrich of U.S Locations: An Ohio, East Liverpool , Ohio, Washington

☆ The Frothy Saga of the Jacuzzi Family
▼ + stars: | 2023-08-11 | by ( Saskia Solomon | ) www.nytimes.com time to read: +1 min

Candido Jacuzzi didn’t set out to turn his last name into a global brand. Nor did he intend to power a business which, though it created the family fortune, nearly tore them apart. This empire starts, and ends, with family — seven brothers, to be exact, Candido being the seventh. The Jacuzzis were, at the turn of the 20th century, a large clan in Casarsa, a farming commune in Northern Italy. Growing up on this hilltop surrounded by vineyards, the siblings began work early and wore wooden shoes, saving handmade slippers for Mass.

Persons: Candido Jacuzzi didn’t, Kenneth Jacuzzi, Candido Locations: Casarsa, Northern Italy

☆ Global hedge funds shine in June, driven by AI -HFR
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, July 10 (Reuters) - Global hedge funds posted gains of 2.2% in June, as artificial intelligence-related stocks surged and the banking crisis eased, data provider HFR said on Monday. In the first half of the year, hedge funds added 3.45% to their investors. "Hedge funds surged in June, led by growth equity exposures and, specifically, artificial intelligence. Macro hedge funds ended June down 0.47% in the year, as they were able to erase some losses earlier in the year last month, up 1.47%. Hedge funds that bet on economic trends had a challenging beginning of the year as they were hard hit by the banking crisis in March.

Persons: HFR, Kenneth J, Heinz, Carolina Mandl, Chris Reese, Stephen Coates Organizations: YORK, Global, HFR, Equity, Carolina, Thomson Locations: New York

Morgan Stanley co-presidents Ted Pick and Andy Saperstein are widely viewed as the front-runners for the top job, with Pick seen as having a slight edge, the person said. A Morgan Stanley spokesperson declined to comment, as did Gorman, Pick, Saperstein and Simkowitz when contacted directly. SUCCESSION PLANNINGSince taking the helm, Australian-born Gorman, 64, has transformed Morgan Stanley through a series of major deals into a wealth management powerhouse that aims to manage $10 trillion in assets. Pick, 54, heads Morgan Stanley's institutional securities group, overseeing areas including investment banking, equities and fixed income. Saperstein, 56, is in charge of the wealth management unit that has bolstered Morgan Stanley's profits in recent years.

Persons: Morgan Stanley's, James Gorman's, Gorman, Morgan Stanley, Ted Pick, Andy Saperstein, Pick, Dan Simkowitz, Morgan, Merrill Lynch, You've, you've, Peter Orszag, Kenneth Jacobs, JPMorgan Chase, Jamie Dimon, Brian Moynihan, Lananh Nguyen, Paritosh Bansal, Megan Davies, Jamie Freed Organizations: YORK, U.S . Securities, Exchange Commission, U.S, Attorney's, Southern, of, McKinsey, White House, JPMorgan, Bank of America, Thomson Locations: London, New York, of New York, Australian

☆ Apple's Tim Cook calls India 'huge opportunity' after tech meeting at White House with Prime Minister Modi
▼ + stars: | 2023-06-23 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

US President Joe Biden looks on as India's Prime Minister Narendra Modi speaks during a meeting with senior officials and CEOs of American and Indian companies, in the East Room the White House in Washington, DC, on June 23, 2023. The tech company execs spent over an hour with Prime Minister Narendra Modi inside the White House on Friday, discussing opportunities and challenges in investing in India. After the meeting concluded at the White House, Apple CEO Tim Cook told CNBC that India represents a "huge opportunity." It was the first state visit to the U.S. for Modi, who became prime minister in 2014. Following Friday's meeting, the White House said Google will be working with the Indian Institute of Science on open sourcing of speech data for artificial intelligence models.

Persons: Joe Biden, Narendra Modi, Biden, execs, Modi, Elon Musk, Tim Cook, Sam Altman, Altman, Hemant Taneja, Catalyst, Taneja, Kenneth Juster, who's Organizations: India's, Apple, Microsoft, Tesla, White, CNBC, Google, Indian Institute of Science, U.S, Micron, Applied Materials, Research, Council, Foreign Relations, Biden Locations: Washington ,, India, U.S, Washington, China, Gujarat

☆ Judge Mostly Blocks Indiana Ban on Transition Care for Minors
▼ + stars: | 2023-06-16 | by ( Mitch Smith | ) www.nytimes.com time to read: +1 min

Families of transgender children sued to block the law, saying that it would have put transgender youth at immediate risk of unwanted changes to their bodies, which would have lifelong consequences. Their lawyers noted that major medical organizations, including the American Academy of Pediatrics, support gender-transition care and have said that bans pose serious mental health risks to young people, infringing not only on their rights but also on the rights of doctors and parents. At least 17 states have passed laws this year banning or severely limiting transition care for minors as Republicans have made restrictions on transgender people a legislative focus. Still, supporters of transgender rights have had success countering those laws in the courts. Judge Hanlon, who heard arguments on the injunction on Wednesday in a wood-paneled courtroom in downtown Indianapolis, was appointed to the Federal District Court by President Donald J. Trump.

Persons: Kenneth J, Falk, Judge Hanlon, Donald J, Trump Organizations: American Academy of Pediatrics, American Civil Liberties Union of Indiana, Federal, Court Locations: capitols, Indianapolis

☆ Wall Street's succession summer
▼ + stars: | 2023-05-30 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +5 min

But first, it's the summer of succession — and no, we're not talking about the TV show. Wall Street CEOs pretend that succession planning is another chore, like hashing out the annual budget or organizing an earnings call. But behind the boring press announcing their succession plans is often a story of intrigue and drama. And then, of course, there's Jamie Dimon, Wall Street's longest-serving CEO. Earlier this week, Insider highlighted 17 young analysts poised to shine.

☆ Lazard's new CEO once inspired a fan blog called Orszagasm.com. Here are 5 fascinating facts about Peter Orszag, Wall Street's newest chief.
▼ + stars: | 2023-05-26 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +1 min

Peter Orszag has been named CEO of investment bank Lazard, effective October 1. Orszag is best known as Barack Obama's director of Office of Management and Budget. Investment bank Lazard announced on Friday that Peter Orszag, CEO of its financial advisory business, would replace Kenneth Jacobs as CEO. But he is also no ordinary Wall Street CEO. He only made the switch to Wall Street from Washington in 2011.

☆ US Declining Population, Worker Shortage Will Cause Economic Crisis Without a Fix
▼ + stars: | 2023-05-04 | by ( Gadel Valle | ) www.businessinsider.com time to read: +15 min

That means that unless people start having a lot more kids, the US population could eventually start to shrink — just like China's population has. While the US population has managed to avoid an outright drop, population growth reached an unprecedented low of 0.12% in 2021. One way the US could encourage more immigration is by focusing on temporary visas for specific industries that need workers. And the treatment of workers in the country on temporary visas has been a problem for decades. After all, the US is running out of options, and soon its growing people shortage is going to spell economic disaster.

☆ Lazard reports surprise loss on dealmaking slump, cuts jobs
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

The company also warned of an uncertain outlook for the year and said it would eliminate around 10% of its workforce in 2023, which could result in additional costs of around $95 million. M&A volumes nearly halved in the first quarter from a year earlier, according to data from Dealogic. "Slower M&A activity resulted in significantly lower revenues in the quarter and the outlook for the year remains uncertain," said Lazard CEO Kenneth Jacobs. On an adjusted basis, Lazard reported a loss of $23 million, or 26 cents per share, compared with a profit of $115 million, or $1.05 per share, a year earlier. Analysts had expected a profit of 26 cents per share, as per Refinitiv IBES data.

☆ Lazard reports loss as dealmaking slumps, cuts jobs
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

April 28 (Reuters) - Lazard Ltd (LAZ.N) on Friday reported a loss in the first quarter as sluggish dealmaking due to economic uncertainty, exacerbated by the banking crisis last month, eroded the investment bank's fees. Its cost-saving measures resulted in a $21 million charge in the first quarter. Global dealmaking activity shrank to its lowest level in more than a decade in the first quarter, with M&A volumes nearly halving from a year earlier, according to data from Dealogic. As a result, Lazard's operating revenue from its financial advisory business fell 29% to $274 million in the first quarter. "Slower M&A activity resulted in significantly lower revenues in the quarter and the outlook for the year remains uncertain," said Kenneth Jacobs, the company's chief executive.

Maxwell, 61, is expected to present her legal arguments in a filing with the 2nd U.S. Epstein killed himself at age 66 in a Manhattan jail cell in August 2019, one month after being charged with sex trafficking. Maxwell is expected to claim that prosecutors charged her long after a five-year statute of limitations expired. At Maxwell's trial, the four accusers said Maxwell and Epstein at first made them feel welcome in their orbit before subjecting them into giving Epstein sexualized massages. Prosecutors are expected to respond to Maxwell's filing before the appeals court hears oral arguments.

[1/2] U.S. President Joe Biden delivers remarks about the student loan forgiveness program from an auditorium on the White House campus in Washington, U.S., October 17, 2022. The program fulfilled Biden's 2020 campaign promise to cancel a portion of the nation's $1.6 trillion in federal student loan debt but was criticized by Republicans and others as an overreach of his authority. Biden's administration has said the plan is authorized under a 2003 federal law called the Higher Education Relief Opportunities for Students Act, or HEROES Act, that allows student loan debt relief during wartime or national emergencies. Beginning in 2020, the administrations of President Donald Trump, a Republican, and Biden, a Democrat, repeatedly paused federal student loan payments and halted interest from accruing, relying upon the HEROES Act. Missouri-based U.S. District Judge Henry Autrey found the states - Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina lacked the legal standing to sue.

The Sandy Hook families said that they need specialized assistance to review Jones' assets, income, and ability to pay those verdicts. Jones filed preliminary financial statements earlier in February, but listed several trusts that held unknown assets. Jones filed for personal bankruptcy in December, saying he could afford to pay less than 1% of the judgments handed down in two Sandy Hook defamation trials. Lopez will decide in March if Jones has to face a third Sandy Hook defamation trial. The Sandy Hook families have expressed concern that Jones is using bankruptcy to limit payments on the defamation judgments while attempting to collect income outside of the bankruptcy court's oversight.

☆ Glencore sentenced to pay $700 million in US after bribery guilty plea
▼ + stars: | 2023-02-28 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +1 min

Companies Glencore PLC FollowNEW YORK, Feb 28 (Reuters) - A U.S. judge on Tuesday ordered Glencore Plc (GLEN.L) to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries. Prosecutors have said Glencore paid more than $100 million in bribes to officials in countries including Nigeria, Brazil, Venezuela and the Democratic Republic of the Congo to win business or avoid audits. Overall, the Swiss-based multinational has said it expects to pay more than $1.5 billion to settle bribery and market manipulation accusations, including more than $1 billion in the United States. Last year, Glencore was ordered to pay $341 million in fines and $144 million in forfeiture after pleading guilty to a market manipulation charge in Connecticut federal court. Reporting by Luc Cohen in New York Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Law firms Akin Gump Strauss Hauer & Feld LLP FollowNEW YORK, Feb 28 (Reuters) - The U.S. Commodity Futures Trading Commission (CFTC) has hired a former New York prosecutor with expertise in cryptocurrency and cyber crimes to lead its enforcement unit, the agency said in a statement on Tuesday. CFTC Chairman Rostin Behnam in the statement described McGinley as a "leader in combatting modern financial fraud". "His background as a prosecutor with unique experience in commodities, crypto, and cyber-crimes and frauds makes him an ideal person to lead the CFTC’s enforcement team," Behnam said. McGinley, whose appointment is effective immediately, replaces the CFTC's acting director of enforcement and veteran CFTC official Gretchen Lowe. Reporting by Chris Prentice Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

The ruling authored by Jackson, who was confirmed last year by the Senate as the newest of the nine justices, was unanimous. Under that law, money orders that go uncashed can be generally taken by the state in which they are purchased. Circuit Judge Pierre Leval, later agreed with Delaware's view that they were not legally money orders but were "third-party bank checks." Jackson rejected that position, saying the financial instruments were similar to money orders in function and operation by allowing prepayment of a specified amount to a specific person. "And none of the differences Delaware identifies relates to the statutory text or ordinary meaning of a money order," Jackson wrote.

Feb 27 (Reuters) - Robinhood Markets Inc (HOOD.O) said in a filing on Monday it had received an investigative subpoena in December from the U.S. Securities and Exchange Commission related to listings of cryptocurrencies. The collapse of Sam Bankman-Fried's FTX was the biggest in a string of major crypto-related failures in 2022, which sparked a cryptocurrency rout and left creditors facing losses of billions of dollars. The SEC has maintained that pre-existing securities laws also apply to digital assets and that many crypto tokens meet the definition of a security, which the crypto industry has previously criticized. Robinhood said the subpoena it received from the SEC was regarding the supported currencies at Robinhood Crypto LLC, which is a wholly-owned subsidiary of the brokerage, as well as its custody of cryptocurrencies and other platform operations. Reporting by Anirban Chakroborti in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Feb 27 (Reuters) - The U.S. consumer financial watchdog agency on Monday said it had permanently barred California mortgage broker RMK Financial Corp. from the mortgage lending industry, accusing it of repeat violations against military personnel and their families. "Our action reflects our commitment to weed out repeat offenders, and we are shutting down this outfit for good," he said. According to the CFPB, Majestic Home Loan "tricked" military families by falsely claiming government affiliation while also deceiving borrowers about interest rates. The agency on Thursday announced a $10 million fine against the Georgia title lender TitleMax for allegedly making unlawful loans to military personnel and charging illegally high interest rates. The Supreme Court on Monday agreed to hear an appeal against an October ruling from the 5th U.S.

Feb 27 (Reuters) - Three banks agreed to pay $1.35 billion to resolve litigation by former Allen Stanford investors who accused them of contributing to the imprisoned financier's massive Ponzi scheme. Canada's Toronto-Dominion Bank <TD.TO> will pay $1.205 billion, HSBC Holdings Plc (HSBA.L) will pay $40 million and Independent Bank Group Inc (IBTX.O) , formerly Bank of Houston, will pay $100 million. They avert a trial that had been scheduled for Monday in Houston federal court, where TD, HSBC and Independent Bank were the last remaining defendants. Two other defendants, France's Societe Generale SA (SOGN.PA) and Mississippi-based Trustmark Corp (TRMK.O), settled for a respective $157 million and $100 million earlier this year. Independent Bank expects to recognize a $100 million first-quarter expense for its settlement, a regulatory filing shows.

[1/2] Alex Murdaugh gives testimony in his murder trial at the Colleton County Courthouse in Walterboro, South Carolina, U.S., February 23, 2023. Grace Beahm Alford/Pool via USA TODAY NETWORK via REUTERSFeb 27 (Reuters) - Four final defense witnesses are set to take the stand on Monday in the double murder trial of disbarred South Carolina lawyer Richard "Alex" Murdaugh before his attorneys rest their case, with jury deliberations on track to begin later in the week. Murdaugh's lawyers said they planned to question four additional witnesses before resting their case in the early afternoon on Monday. That would be followed by closing arguments and the judge instructing the jury, which could happen on Tuesday or Wednesday, Murdaugh defense attorney Dick Harpootlian said in court on Friday. The case has drawn intense media coverage given the political influence of the Murdaugh family in South Carolina.

Companies Tesla Inc FollowFeb 27 (Reuters) - Tesla Inc (TSLA.O) and its Chief Executive Elon Musk were sued on Monday by shareholders who accused them of overstating the effectiveness and safety of their electric vehicles' Autopilot and Full Self-Driving technologies. They said Tesla's share price fell several times as the truth became known, including after the National Highway Traffic Safety Administration began investigating the technologies, and reports that the Securities and Exchange Commission was investigating Musk's Autopilot claims. The share price also fell 5.7% on Feb. 16 after NHTSA forced a recall of more than 362,000 Tesla vehicles equipped with Full Self-Driving beta software because they could be unsafe around intersections. Monday's lawsuit led by shareholder Thomas Lamontagne seeks unspecified damages for Tesla shareholders from Feb. 19, 2019 to Feb. 17, 2023. Tesla's share price closed Monday up $10.75, or 5.5%, at $207.63, but the stock has lost about half its value since peaking in Nov. 2021.

Feb 27 (Reuters) - Fox Corp Chairman Rupert Murdoch acknowledged under oath that some Fox hosts "endorsed" the notion that the 2020 U.S. presidential election was stolen, according to a court filing unsealed Monday. Documents in the case in Delaware state court show Murdoch and other Fox executives believed Joe Biden fairly beat Donald Trump and that the results were not in doubt. Asked by a Dominion lawyer if some of Fox’s commentators had endorsed the idea that the 2020 election was stolen, Murdoch responded, “Yes. Dominion claims in its filing that Murdoch closely monitored Fox coverage but declined to wield his powerful editorial influence despite strong concerns about Fox's coverage. Murdoch testified that he believed early on that "everything was on the up-and-up" with the election, and that he doubted claims of election fraud from the very beginning.

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