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☆ The Fed likely won't cut rates until after a recession strikes, research firm says
▼ + stars: | 2024-05-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The Fed likely won't cut interest rates until after a recession arrives, according to GlobalData TS Lombard. The research firm said Fed Chair Powell is likely to fall into the trap of being reactionary when it comes to rate decisions. AdvertisementThe Federal Reserve is making a big mistake by not cutting interest rates right now, according to GlobalData TS Lombard chief US economist Steven Blitz. And if inflation sees a sharp rebound to 5%, "they obviously hike" interest rates, Blitz said. AdvertisementAll-in, according to Blitz, it means that interest rates could stay at current levels for longer-than-expected, especially since it appears there will be no recession this year.

Persons: Powell, Steven Blitz, Jerome Powell, Blitz, Jeremy Siegel Organizations: Fed, GlobalData, Lombard, Federal Reserve

☆ Cramer says the pull of the bond market is worrying, so keep some cash on hand
▼ + stars: | 2024-04-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said Wednesday that he doesn't feel great about the market here, but is optimistic for the longer term. Cramer said the market's not so ugly that "cash is king" and investors should bail completely, but he indicated that it's still a good idea to have some on hand. Cash may not be king right here, but it certainly isn't pawn either." One cause for concern is the pull of the bond market, Cramer said, with some investors enticed by risk-free Treasurys. Stocks will decline if long-term bond yields continue to rise, he added, pointing out that this week's slew of colossal bond auctions could hurt equities.

Persons: CNBC's Jim Cramer, Cramer, We've, —, Cash, It's, you'd Organizations: CNBC

☆ A.I.-Generated Child Sexual Abuse Material May Overwhelm Tip Line
▼ + stars: | 2024-04-22 | by ( Cecilia Kang | ) www.nytimes.com time to read: +1 min

A new flood of child sexual abuse material created by artificial intelligence is threatening to overwhelm the authorities already held back by antiquated technology and laws, according to a new report released Monday by Stanford University’s Internet Observatory. technologies have made it easier for criminals to create explicit images of children. The organization’s CyberTipline, created in 1998, is the federal clearing house for all reports on child sexual abuse material, or CSAM, online and is used by law enforcement to investigate crimes. “Almost certainly in the years to come, the CyberTipline will be flooded with highly realistic-looking A.I. content, which is going to make it even harder for law enforcement to identify real children who need to be rescued,” said Shelby Grossman, one of the report’s authors.

Persons: doesn’t, ”, Shelby Grossman Organizations: Stanford, National Center for

☆ Ukraine aid will kill Russian momentum, but won't win it the war
▼ + stars: | 2024-04-22 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

A $61 billion package of US military aid for Ukraine is being signed off. AdvertisementRelief swept the front line in Ukraine on Saturday after the US voted to release a long-delayed $61 billion package of military aid to help defend against Russia's invasion. But while it's likely to help kill Russia's momentum and give Ukraine much-needed support in the coming months, experts are cautioning that it doesn't ensure victory for Ukraine. Analysts said the aid bill will bolster Ukraine's defenses against a possible planned Russian offensive this summer. AdvertisementFor Ukraine to feel confident in winning the war against Russia, it will need more military aid beyond 2024.

Persons: —, Mark Warne, Vladimir Putin, Oleksiy Goncharenko, it's, George Beebe, Donald Trump, haven't, There's Organizations: Service, CNN, US, Ukraine, Senate, CBS, Ukrainian, Financial, BI, Republican, The Financial Times, European Union Locations: Ukraine, Ukrainian, Russia

☆ Israel war cabinet hold heated debate over how to respond to Iran attack, Israeli officials say
▼ + stars: | 2024-04-15 | by ( Jeremy Diamond | ) edition.cnn.com time to read: +3 min

Tel Aviv, Israel CNN —Israel’s war cabinet has been engaged in a heated debate about how and when to respond to Iran’s weekend attack on their country, two Israeli officials familiar with the deliberations tell CNN. In addition to a potential military response, the war cabinet is also mulling diplomatic options to further isolate Iran on the world stage. Benny Gantz, a key member of the war cabinet, has pushed for a swifter response to Iran’s attack, two Israeli officials said. But Israeli officials recognize that will be a difficult needle to thread, hence the ongoing debate. An hours-long war cabinet meeting on Sunday ended without a decision on how Israel will respond to Iran’s attack, an Israeli official said.

Persons: Israel CNN —, Benny Gantz, Benjamin Netanyahu, Gantz, Iran’s, Netanyahu, Mohammed Reza Zahedi, Mohammad Hadi Haji Rahimi, Joe Biden, Biden, ” Organizations: Israel CNN, CNN, Revolutionary Guards, White Locations: Tel Aviv, Israel, Iran, Syria, ” Israel

☆ Jim Cramer blasts a 'sell' call on a top-performing stock in a sweet spot of the AI wave
▼ + stars: | 2024-04-08 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "Let's stop being focused on the short-term," Jim Cramer said Monday, cautioning Club members against investing based on Fed officials' comments. This is all great news for recently added Club stock Best Buy in terms of demand and sales as well as its stock price eventually. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Wells, Wolfe, Eaton, underperform, Friday's, Jim, Jefferies, Jim Cramer's Organizations: CNBC, Federal, cautioning Club, Fed, Constellation Brands, Wolfe Research Locations: Eaton

☆ Melania Trump’s role in the 2024 campaign remains up in the air
▼ + stars: | 2024-03-29 | by ( Sunlen Serfaty | ) edition.cnn.com time to read: +5 min

“She’ll definitely have a role, but in terms of what that is, I don’t know,” a source close to the Trump campaign said. They assume Melania Trump will have some role – yet it has not been set. Donald Trump Jr., Eric Trump and Tiffany Trump were there. That absence has only been heightened by her husband, who has been promising she’ll be on the campaign trail soon. “She loves our country very much,” Donald Trump told NBC’s Kristen Welker in an interview in September.

Persons: Melania Trump, Trump, “ She’ll, ”, Donald Trump, – hasn’t, she’s, it’s, ” Donald Trump, Donald Trump Jr, Eric Trump, Tiffany Trump, –, “, Megyn Kelly, She’s, Jack Nicklaus, Viktor Orban, Barron, Rosalynn Carter, “ Melania, ‘, Donald, Jill Biden, Joe Biden, ’ ” Stephanie Grisham, Melania, Hillary Clinton ‘, NBC’s Kristen Welker, she’ll Organizations: CNN, Republican National Convention, Republican, Hungarian, National Archives, Justice Department, White, “ Locations: Largo, Florida, Mar, Washington , DC, Iowa

☆ This semiconductor ETF is headed for its best quarterly gain in a year. Here are the winners
▼ + stars: | 2024-03-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Semiconductor stocks are off to another hot start to the year. The VanEck Semiconductor ETF (SMH) is up 28.5% in the first three months of 2024. That puts the SMH on pace for its biggest quarterly gain since the first quarter of 2023, when it jumped 30%. The stock is up more than 30% to start 2024. Shares have skyrocketed more than 39% to start 2024, helped by strong sales in high bandwidth memory necessary in AI infrastructure.

Persons: Ken Mahoney, Nvidia, Hendi, Management's Paul Meeks, Andrew Garthwaite cautioning Organizations: VanEck Semiconductor, Asset, Taiwan Semiconductor Manufacturing, Nvidia, Qualcomm, Apple, Devices, JPMorgan, PHLX Semiconductor, Intel, Micron Technology, Micron, UBS, Universal Locations: Taiwan

☆ Trump hit with gag order in New York hush money case after slamming judge
▼ + stars: | 2024-03-26 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

A judge on Tuesday imposed a limited gag order on Donald Trump ahead of his criminal hush money trial in New York. Trump's statements about various figures involved in the case "were threatening, inflammatory [and] denigrating," Manhattan Supreme Court Judge Juan Merchan said in a court order. The gag order bars Trump from making public statements about likely witnesses and jurors in the case. The gag order does not specifically bar Trump from criticizing the judge. Merchan's gag order ruling on Tuesday afternoon appeared to reference Trump's remarks about his daughter.

Persons: Donald Trump, Juan Merchan, Merchan, Trump, Alvin Bragg, Stormy Daniels, Bragg, Trump's, Michael Cohen, Todd Blanche, Joe Biden, Jack Smith, cautioning Trump Organizations: U.S, Trump, Manhattan District, Washington , D.C Locations: New York City, New York, Manhattan, Washington ,

As of Thursday night, two tornado reports had been made in Indiana and five in Ohio, according to the Storm Prediction Center. More than 10,000 homes and businesses in Indiana and nearly 37,000 in Ohio were without power late Thursday night, according to PowerOutage.us. In Winchester, Indiana, state police were helping with search and rescue efforts after a tornado likely struck the area, and temporary shelters have been set up for residents, agency spokesperson Sgt. State police Superintendent Doug Carter described the storm in Winchester as a “terrible, terrible event” with many reports of significant injuries. The tornado reports in Indiana and Ohio came as a system of strong thunderstorms swept across parts of the central and eastern US on Thursday.

Persons: CNN —, Injuries, wouldn’t, Scott Keegan, Doug Carter, Carter, “, ”, Mary Rutan, David Crissman, Crissman, Alena Roberts, Mike Robbins, Robbins, CNN’s Taylor Ward, Raja Razek, Andy Rose, Jamiel Lynch, Jason Hanna Organizations: CNN, Storm Prediction, Authorities, Emergency Management Agency, Storm Prediction Center, National Weather Service, Mary Locations: Indiana, Ohio, Texas, Pennsylvania, Winchester , Indiana, Winchester, Selma , Indiana, Delaware, Ohio’s Auglaize, Logan, Wilmington , Ohio, Ohio’s Logan County, Indian Lake, Lakeview, Logan County, Bellefontaine, Parts, Mercer, Celina, Indiana and Ohio, Oklahoma , Arkansas, Missouri

☆ Former U.S. official's work for Chinese client stirs concern over disclosure loopholes
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +4 min

Advocating for foreign clients is legal and U.S. law includes a public disclosure exemption for lawyers. The Paul, Weiss law firm declined to comment on the letter, and Lynch did not respond to Reuters emails. The U.S. Treasury and Commerce departments say DJI supported biometric surveillance and tracking of Muslim Uyghur minorities in China. "It is appalling that former senior U.S. officials use their connections to serve the interests of U.S. adversaries," Risch said. Others argue that stricter FARA rules on disclosure could give authoritarian countries like Russia and China cover for their own stifling of free speech.

Persons: Loretta Lynch, Obama, Lynch, Paul, Weiss, DJI, FARA, Jim Risch, Risch, Jonathan Turley, Turley Organizations: U.S, senior Defense Department, SZ DJI Technology Co, U.S . Department of Justice, Reuters, Department of Defense, China's Communist Party, U.S . Treasury, Commerce, The Defense Department, Pentagon, Justice, Republican, Senate Foreign Relations, American Civil Liberties Union, Justice Department, George Washington University Locations: FARA, U.S, China, WuXi, Russia

☆ Market doomsayer Jeremy Grantham says stocks are at 'illogical and dangerous' levels — and warns the AI bubble will pop
▼ + stars: | 2024-03-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

US stocks are priced for perfection in an "imperfect and dangerous" world, Jeremy Grantham said. The top investor said AI could be bigger than the internet but the initial bubble would likely pop. AdvertisementStocks are dangerously overvalued and poised to disappoint, the AI bubble is bound to burst, and a recession appears likely, Jeremy Grantham has warned. Yet he said the rollout of ChatGPT "rudely interrupted" that process by inflating a whole new bubble around AI. "So it is likely to be with the current AI bubble," Grantham said, predicting it would "at least temporarily deflate and probably facilitate a more normal ending to the original bubble."

Persons: Jeremy Grantham, Grantham's, —, Grantham, there's Organizations: Service Locations: Europe, Asia

☆ CNBC Daily Open: U.S. services pace slows slightly
▼ + stars: | 2024-03-06 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow's steep declineWall Street ended lower Tuesday as the broader market was dragged by sharp declines in major tech stocks. China growth pushChina may need to resort to an old tactic to hit its ambitious growth target this year. President Joe Biden and former President Donald Trump hold commanding leads in the polls of their respective parties.

Persons: Dow, Bitcoin, Wang Dan, Joe Biden, Donald Trump, Jerome Powell, Powell, Paul Meeks Organizations: CNBC, Nasdaq, Apple, Hang Seng Bank, Capitol, Nvidia, Veteran, CNBC Pro Locations: China, Beijing

☆ 'People didn't see it coming': What to know about this hot AI stock up nearly 800% in the past year
▼ + stars: | 2024-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Here's a breakdown of how Super Micro got to this point, and where investors and analysts expect it to go. What to know about Super Micro Computer Creating servers isn't a new objective for the California-based company. Other shareholders such as Vendig have opted to take a breather on buying shares until the next earnings call. Those headwinds may not hit until 2025 but could hurt the stock if Super Micro fails to differentiate itself. "Super Micro was in the right place at the right time when generative AI took off, there really wasn't a competitor," he said.

Persons: hasn't, Paul Meeks, Brian Vendig, we've, Shreya Gheewala, Matt Bryson, Sylvia Jablonski, Jablonski, Vendig, Wedbush's Bryson Organizations: Nvidia, Devices, Computer, Management, MJP Wealth, AMD, Intel, Wedbush Securities, Micro, Super Micro, Super Locations: California

☆ Private credit may offer high yields, but investors should tread carefully. What to know
▼ + stars: | 2024-02-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Private credit has become a hot investment on Wall Street as institutional investors seek out alternative investments with attractive dividends. "Investors might consider allocating a portion of their portfolio to private credit, depending on their individual risk tolerance, investment horizon and financial goals." Private credit funds have yields generally in the low-teens, although it can vary, he said. In a February report on U.S. life insurance ratings, Fitch Ratings said, "elevated private credit borrower leverage and a relative deterioration in private credit terms and conditions during more competitive lending environments are adding to pressures in the credit quality of private credit assets." The majority of the portfolio is in direct lending private credit, but a portion is also in publicly-traded securities of larger corporate issuers.

Persons: SoFi, Vivek Paul, Paul, Goldman, Greg Olafson, David Solomon, Fitch, Lisa Kwasnowski, Blackstone, Kwasnowski, Chuck Failla, it's, Failla, Oppenheimer, Mitchel Penn, Penn, Ares Capital, They've Organizations: Street, Franklin BSP Private Credit Fund, CNBC, Wall, BlackRock, Research, Management, UBS, Blackstone Private Credit Fund, Sovereign Financial Group, Securities and Exchange Commission, Owl, Golub, Ares, Sixth, SEC Locations: DBRS Morningstar's

☆ Even wife guy Ben Affleck wasn't sure he wanted J.Lo to make a movie about their relationship
▼ + stars: | 2024-02-27 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +5 min

"Making a movie with your own money is the most famous cardinal sin in Hollywood," Affleck says in an off-camera moment in the doc. (Lopez and Affleck famously dated and got engaged in the early aughts, but broke up three days before their wedding. "I did really find the beauty and the poetry and the irony in the fact that it's the greatest love story never told," Affleck says. "If you're making a record about it, that seems kind of like telling it." The movie wasn't about me," Affleck adds.

Persons: —, Jennifer Lopez's, Neil DeGrasse Tyson, Ben Affleck, Affleck, Cassandra, cautioning Lopez, Lopez, He's, Pen Affleck, Jennifer Lopez, he's, it's, unshakably, It's, didn't, I'm, Prince Charming Organizations: Service, Business, Christmas, Lopez's Locations: Hollywood, Las Vegas

☆ 3 pieces of investment advice from Warren Buffett's annual letter to Berkshire Hathaway shareholders
▼ + stars: | 2024-02-26 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWarren Buffett on Saturday released his annual letter to Berkshire Hathaway shareholders, offering subtle investment advice to readers who may be looking to grow their wealth the way the centibillionaire has. When you find a truly wonderful business, stick with it," Buffett writes. "Patience pays, and one wonderful business can offset the many mediocre decisions that are inevitable." Advertisement"One investment rule at Berkshire has not and will not change: Never risk permanent loss of capital.

Persons: —, Warren Buffett, Buffett, lauding, Bertie, Berkshire Hathaway, Coke, Patience Organizations: Service, Berkshire Hathaway, Business, Street Journal, Express, Berkshire, American Express Locations: Berkshire

☆ Reddit Warns That Meme Stock Investors Could Come for Its Own Stock
▼ + stars: | 2024-02-22 | by ( Meghan Morris | ) www.businessinsider.com time to read: +2 min

As Reddit prepares to go public, the social-media company issued an unusual warning to investors. AdvertisementGameStop, AMC, and other companies saw huge swings in their stock prices starting in 2021, thanks to chatter on social-media platform Reddit. In lawyerly language, Reddit wrote that individual ("retail") investors may home in on the company's stock. AdvertisementReddit S-1 cautions that retail investors could make the stock volatile Reddit S-1 screenshotReddit is offering its most frequent users a chance to buy into the IPO alongside institutional investors. Reddit users, meanwhile, gather on WallStreetBets (mentioned five times in the S-1) and other subreddits, where many posters are bearish about the company's upcoming IPO.

Persons: Reddit, Redditors, — Organizations: GameStop, Service, AMC, Securities and Exchange Commission

☆ Great apes tease each other just like humans do, says new study
▼ + stars: | 2024-02-14 | by ( Jack Guy | ) edition.cnn.com time to read: +4 min

CNN —Researchers have found a new way in which great apes are similar to humans: they tease each other. Researchers found that all four species of great apes demonstrated “intentionally provocative behavior, frequently accompanied by characteristics of play,” according to the press release. The study details 18 different teasing behaviors, many of which were used to provoke a response or attract another ape’s attention. The authors also differentiate playful teasing, which is one-sided, from play, where both apes reciprocate. While primatologists had observed similar behaviors in the past, the study is the first to systematically study playful teasing, Laumer said.

Persons: Isabelle Laumer, Laumer, ’ ”, primatologists, ” Organizations: CNN —, BOS Foundation BPI, Max Planck, Animal, CNN, Royal Society, Biological Sciences Locations: Leipzig, Germany, San Diego

Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs that are leading to higher prices for chocolate. Cocoa futures prices have doubled over the past year and hit an all-time high of $5,874 per metric ton on Friday. Bad weather in West Africa is being blamed for damaging crop yields, which is pushing cocoa prices higher. But with inflation concerns still top of mind, many shoppers are pulling back on their spending and eyeing rising food prices cautiously. Hershey Co. anticipates its full-year earnings per share being relatively flat, partly due to higher cocoa and sugar costs.

Persons: Hershey, ”, Thomas Palmer, Michele Buck, ” Buck, Steven Voskuil Organizations: Citi, Hershey, Hershey Co Locations: West Africa

☆ Trump media deal partner DWAC nears $50 million financing, sources tell Reuters
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +1 min

In this photo illustration, Digital World Acquisition Corp (DWAC) logo is seen on a smartphone and Trump Media & Technology Group (TMTG) logo on a pc screen. Digital World Acquisition Corp. , the blank-check acquisition company that has agreed to take former U.S. President Donald Trump's social media platform public, is nearing a $50 million financing deal, people familiar with the matter said on Thursday. The deal, which could be announced in the next few days, is based on convertible notes and will help fund DWAC while it seeks to complete its merger with Trump Media & Technology Group, owner of social media platform Truth Social, the sources said. The sources requested anonymity because details of the deal discussions are confidential. Representatives for Anson Funds, All Blue Capital and Mangrove Capital Partners did not immediately respond to requests for comment.

Persons: Donald Trump's, Eric Swider, Anson Organizations: Trump Media & Technology, Trump Media & Technology Group, Investment, Funds, Blue, Mangrove Capital Partners, Anson Funds

☆ US citizens planning to visit Jamaica should reconsider due to the threat of violent crime and sexual assaults, the State Department said
▼ + stars: | 2024-02-03 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

The State Department has raised the advisory for Jamaica to "Level 3: Reconsider Travel," citing concerns over crime and unreliable medical services. The US embassy in Jamaica warned of home invasions, armed robberies, sexual assaults, and homicides. AdvertisementSexual assaults have been reported at all-inclusive holiday resorts, said the State Department's Jamaica travel advisory. The "Over the Hill" area of Nassau has seen heightened violent activity as a result of gang-on-gang violence, per the State Department travel advisory. AdvertisementThe State Department also warned against water-based activities, such as tours on commercial, recreational watercraft, stressing that these are not consistently regulated.

Persons: —, Juan Silva Organizations: State Department, State, Government of, CBS, Department Locations: Jamaica, Bahamas, Government of Jamaica, Caribbean, Nassau

☆ Jim Cramer puts his faith in Starbucks CEO Laxman Narasimhan's ability to turn things around
▼ + stars: | 2024-01-31 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said Wednesday that Starbucks ' setback in its China and the U.S. segments will eventually get better, given its strong brand, execution, and profitability. After the closing bell on Tuesday, Starbucks reported a fiscal 2024 first-quarter earnings miss on its top and bottom lines. Full-year 2024 revenue guidance was also lowered. "We experienced a slower-than-expected recovery in China, driven by a more cautious consumer," said Narasimhan on the company's post-earnings call. Starbucks is a holding in Jim Cramer's Charitable Trust , the portfolio used by the CNBC Investing Club.

Persons: CNBC's Jim Cramer, Cramer, Laxman Narasimhan, Jim Cramer's Organizations: Starbucks, cautioning Club, Jim Cramer's Charitable Trust, CNBC, Club Locations: China, U.S, Israel

☆ Pakistan accuses India of extrajudicial killings on its territory
▼ + stars: | 2024-01-26 | by ( Sophia Saifi | Rhea Mogul | ) edition.cnn.com time to read: +3 min

CNN —A top Pakistan official on Thursday accused India of killing two Pakistani nationals on its soil, citing what he called “a pattern” of alleged Indian assassination plots overseas and raising tensions between the two nuclear-armed rivals. India has long accused Pakistan of harboring terrorists, particularly in the disputed and heavily militarized region of Kashmir, which both countries claim in its entirety. Qazi on Thursday compared the alleged killings in Pakistan to other purported recent Indian assassination plots in North America. India and many other countries have publicly warned Pakistan cautioning that it would be consumed by its own culture of terror and violence,” MEA spokesperson Randhir Jaiswal said. The Indian government has denied involvement in the American and Canadian cases and has set up a high-level committee to investigate the accusations in the US.

Persons: Muhammad Syrus Sajjad Qazi, Muhammad Riaz, Shahid Latif, ” Qazi, –, Qazi, “, Randhir Jaiswal, Justin Trudeau Organizations: CNN, Pakistan, India’s, External Affairs, Canadian, American Locations: Islamabad, Pakistan, Kashmir, Sialkot, New Delhi, India, North America, Canada, United States, American

☆ Rudy Giuliani creditors come together for the embattled former mayor's first bankruptcy hearing
▼ + stars: | 2024-01-20 | by ( Jake Offenhartz | Associated Press | ) www.businessinsider.com time to read: +4 min

A group of people who say Rudy Giuliani owes them money gathered for his first bankruptcy hearing. Some of Giuliani's creditors have expressed concern he is taking advantage of the bankruptcy process. During Friday's hearing, Giuliani's attorney tried to convince the bankruptcy judge, Sean Lane, to temporarily lift a stay to allow him to appeal the judgment. AdvertisementSome of Giuliani's creditors have expressed concerns that he is taking advantage of the bankruptcy process to avoid paying his debts. Advertisement"It's an interesting group in its own right: you have a ShopRite worker, election workers, an alleged sex worker," he added.

Persons: Rudy Giuliani, —, Giuliani, Gary Fischoff, patting, Hunter Biden, Biden, Ruby Freeman, Moss, Sean Lane, Lane, Abid Qureshi, cautioning, Ron Kuby, Daniel Gill Organizations: Trump, Service, New, IRS Locations: Georgia, New York City

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