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☆ CEOs are feeling more confident about economy — and concerned about the election
▼ + stars: | 2024-02-08 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —US business leaders are feeling more bullish about the direction of the economy — even as their worries about the upcoming presidential election mount. The survey found 36% of CEOs expect economic conditions to improve in the short term, up significantly from 19% last quarter. In another sign that recession fears are ebbing, just 27% of the CEOs expect economic conditions to worsen over the next six months. However, business leaders are growing concerned about how the political situation could impact their businesses. About one-third (32%) of the CEOs report economic conditions to be better than six months ago, up from just 18% at the end of last year.

Persons: That’s, ” Roger Ferguson Organizations: New, New York CNN, The Conference, Conference Board, Business, Conference Locations: New York

☆ CEOs are finally starting to feel the general momentum in the economy, says Roger Ferguson
▼ + stars: | 2024-02-08 | 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 EmailCEOs are finally starting to feel the general momentum in the economy, says Roger FergusonRoger Ferguson, The Business Council vice chairman, The Conference Board trustee and former Fed Vice Chairman, joins 'Squawk Box' to discuss the latest results from the CEO confidence survey, why company executives are more optimistic on the state of the economy, and more.

Persons: Roger Ferguson Roger Ferguson Organizations: The Business, Fed

☆ Opinion: Nikki Haley is right about the Trump tariffs
▼ + stars: | 2024-02-02 | by ( Opinion Edward J. Mccaffery | ) edition.cnn.com time to read: +5 min

Think about that for a second.”Second, Haley is almost certainly right: tariffs can be a regressive tax, borne largely, if not exclusively, by ordinary American workers. The moderate, non-partisan Tax Foundation found that the existing Trump tariffs will bring in a mere $74 billion in revenues over ten years, while costing jobs, lowering growth and depressing American wages. Haley is right. Who is likely to benefit most from any future Trump tax cuts? Haley is right; Trump wins.

Persons: Edward J, McCaffery, Robert C, Donald Trump’s, Nikki Haley, Haley, Trump, Adam Smith, Harris, Smoot, Hawley, Hood, Herbert Hoover, Ronald Reagan Organizations: CNN, Packard, University of Southern, McCaffery, Jobs, South Carolina Republican, Foundation, Tax Foundation, Biden, Trump, Tax, Walmart, Republican, Trump University Locations: University of Southern California, Washington, China

☆ Sen. Warren asks Justice Department to consider nixing Corizon's bankruptcy
▼ + stars: | 2024-02-01 | by ( Dakin Campbell | Nicole Einbinder | ) www.businessinsider.com time to read: +6 min

Read previewSenator Elizabeth Warren is bringing fresh scrutiny to the controversial bankruptcy of private prison healthcare company Corizon Health. Warren applauded the US Trustee Program, which oversees the federal bankruptcy system, for making a rare decision last year to file an objection in court to Corizon's bankruptcy plan. Corizon's current bankruptcy plan, she wrote, "will deny Corizon's creditors, including incarcerated individuals, adequate restitution for the company's serious harms." This is the second time Warren has weighed in on the Corizon bankruptcy. "Corizon's bankruptcy is premised on the fact that it does not have sufficient resources to pay victims and other creditors," she wrote.

Persons: —, Elizabeth Warren, Warren, Corizon, Jason Brookner, YesCare didn't, Emma Dulaney, Dick Durbin, YesCare, Raphael Prober, Corizon's, plan's Organizations: Service, Corizon Health, Department of Justice's U.S, Business, Tehum Care Services, Department of Justice, US, Corizon, YesCare Holdings Locations: Texas, Tehum, YesCare

☆ Rich parents want to give to charity and leave more money to their kids. Here's how billionaire families do it.
▼ + stars: | 2024-01-29 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

Read previewWhen the rich give to charity, they find a way to get the most bang for their buck. If the trust assets are invested and achieve an annual rate of return of 9% a year, the CLT's remainder will be $2.1 million. Advertisement"It's a fantastic low interest rate play," said Renn. "The problem now is rates have really risen and it's to the point where some investments clearly can outperform a 4% or 5% interest rate, but others might struggle." In this interest rate environment, charitable remainder trusts (CRTs) have better odds.

Persons: —, Jacqueline Kennedy Onassis, Walton, Lance Morgan, Ed Renn, I've, Renn, Dan Griffith, Griffith, CLTs, Onassis, CLATs, Alice, Jim Walton, Rick T, Jennifer Galvagna, Michael Prinzo, they're Organizations: Service, Tax, Business, Bloomberg, Huntington Private Bank, Walmart, Bank of America Private Bank Locations: Withersworldwide, CLTs, Fayetteville , Arkansas, Israel, Palestine

☆ Four Countries Join U.S. in Pausing Funding for U.N. Aid Agency in Gaza
▼ + stars: | 2024-01-27 | by ( Patrick Kingsley | ) www.nytimes.com time to read: +7 min

Protesters calling for a cease-fire in Gaza, during the first day of the California legislative session in Sacramento this month. The federal case in Northern California is unlikely to succeed, given legal precedents that limit judicial power over U.S. presidents on foreign policy decisions. Israel also said that inflammatory comments about Palestinians were taken out of context or made by individuals without decision-making power. One of her relatives is living under a nylon tarp in Gaza with her four children and husband, a cancer patient, she said. Israeli attacks have killed 88 relatives just on her mother’s side of the family, she said.

Persons: Biden, Judge Jeffrey White, “, Antony J, Blinken, Lloyd J, Austin III, Judge White, George W, Bush, Laila el, Haddad, Jean Lin, Katherine Gallagher, ” Erwin Chemerinsky, ” Basim, Elkarra, We’re, Mr Organizations: Palestinian, Calif, United Nations, International Court, Court of Justice, Hague, International Court of Justice, Government, Justice Department, Center for Constitutional Rights, University of California, Islamic, Democrat Locations: Gaza, California, Sacramento, Israel, U.S, Oakland, Fairfield , Calif, San Ramon, Northern California, Bay Area, Atlanta, Palestinian, United States, ”, United, Clarksville, Md, New York, Berkeley, Palestinian American

☆ Elon Musk's SpaceX seemingly bought a Boeing 737 with a strange livery — and nobody appears to know why
▼ + stars: | 2024-01-26 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

AdvertisementElon Musk's SpaceX has seemingly bought a Boeing 737 that used to belong to Air China, records show. Related storiesThe Federal Aviation Administration's registry shows the jet's owner is Falcon Aviation Holdings LLC. Unexpected visitor at LAX: A Boeing 737-800 with a distinctive livery, registered under Falcon Aviation Holdings LLC. #aviation #avgeek #airplanes #planespotting pic.twitter.com/mf6I29kt26 — AIRLINE VIDEOS (@airlinevideos) January 25, 2024Falcon Aviation Holdings took ownership of the 737-800 back in July, according to data from Planespotters.net. Most of them are owned by Falcon Landing LLC.

Persons: —, Elon, it's, Jack Sweeney Organizations: LAX, Boeing, SpaceX, Gulfstream, Service, Los Angeles International Airport, Federal Aviation, Falcon Aviation Holdings, Air, FALCON AVIATION, Falcon Landing, Business Locations: Air China, Hawthorne , California, Hawthorne

☆ How the superrich, like Walmart's Waltons, get richer by using trusts to give to charity and save on tax
▼ + stars: | 2024-01-23 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

If the calculations predict that the trust's remainder interest is zero, the beneficiaries are exempt from estate tax even if the assets actually appreciate by a greater amount. If the trust assets are invested and achieve an annual rate of return of 9% a year, the CLT's remainder will be $2.1 million. Advertisement"It's a fantastic low interest rate play," said Renn. "The problem now is rates have really risen and it's to the point where some investments clearly can outperform a 4% or 5% interest rate, but others might struggle." In this interest rate environment, charitable remainder trusts (CRTs) have better odds.

Persons: —, Jacqueline Kennedy Onassis, Walton, Lance Morgan, Ed Renn, I've, Renn, Dan Griffith, Griffith, CLTs, Onassis, Jennifer Galvagna, Michael Prinzo, they're Organizations: Service, Tax, Business, Bloomberg, Huntington Private Bank, Bank of America Private Bank Locations: Withersworldwide, CLTs, Israel, Palestine

(AP) — A federal appeals court has ordered the appointment of an independent examiner in the bankruptcy case of FTX amid concerns about widespread fraud preceding the collapse of the multibillion-dollar cryptocurrency exchange. A three-judge panel in Philadelphia issued the ruling Friday in an appeal filed by the U.S. bankruptcy trustee, who serves as a government watchdog in Chapter 11 reorganizations. U.S. Bankruptcy Judge John Dorsey denied the trustee’s request last February. The appeals court reversed Dorsey’s ruling, agreeing with the trustee that the bankruptcy code mandates the appointment of an examiner. “Such is the case here.”Restrepo also noted that an examiner is required to make his or her findings public, whereas a debtor or creditors committee conducting an internal investigation has no such obligation.

Persons: John Dorsey, Dorsey, John Ray III, FTX, Sam Bankman, Fried, Prosecutors, ”, Luis Felipe Restrepo, ” Restrepo Organizations: —, U.S, FTX, Alameda Research Locations: Del, Philadelphia, FTX

☆ Spelman, a Historically Black Women’s College, Receives $100 Million Gift
▼ + stars: | 2024-01-18 | by ( Stephanie Saul | More About Stephanie Saul | ) www.nytimes.com time to read: +1 min

Spelman College, the women’s school in Atlanta, announced on Thursday that it had received a $100 million donation, which its officials called the largest-ever single gift to a historically Black college. The gift comes from Ronda E. Stryker, a trustee of Spelman, and her husband, William D. Johnston, chairman of the wealth management company Greenleaf Trust. Ms. Stryker serves as director of the medical equipment company Stryker Corporation, which was founded by her grandfather. In an announcement, Spelman College said that $75 million of the gift had been earmarked for scholarships, and that the remaining money would go toward improving student housing and developing an academic focus on public policy and democracy. In a statement, Spelman’s president, Helene Gayle, said the college was “invigorated and inspired” by the couple’s generosity, adding, “This gift is a critical step in our school’s mission to eliminate financial barriers to starting and finishing a Spelman education.”

Persons: Stryker, Spelman, William D, Johnston, Helene Gayle, “, ” Organizations: Spelman College, Greenleaf Trust, Stryker Corporation, Spelman Locations: Atlanta, Ronda

WASHINGTON (AP) — Taiwan’s top diplomat in Washington has a message for both the island's Chinese adversaries and its American friends: Don’t worry that Taiwan’s new president-elect will worsen relations with Beijing and possibly draw the U.S. into a conflict. But Yui said Lai is willing to engage with Beijing, even as the island seeks to strengthen its unofficial ties with Washington for stability in the region. Shortly after Taiwan's election, Biden told reporters that his administration does not support Taiwan’s independence. Yui said it is incumbent upon both Beijing and Taipei to keep the Taiwan Strait peaceful. Before he came to Washington, Yui briefly served as Taiwan's representative to the European Union and Belgium.

Persons: — Taiwan’s, Lai Ching, Alexander Tah, Ray Yui, Lai, Yui, ”, Taiwan's, Tsai Ing, Tsai, he’s, Xi Jinping, Joe Biden, Biden, Scott Kennedy, “, Kennedy, we're, We're, Mike Johnson, Sen, Ben Cardin, ” Yui, Hsiao Bi, Hsiao Organizations: WASHINGTON, Associated Press, AP, Democratic Progressive Party, ”, Washington, Center for Strategic, International Studies, Republican, Republicans, Democrats, U.S . Congress, Democratic, Senate Foreign Relations, M University, European Union, Cultural Locations: Washington, Beijing, Taiwan Strait, U.S, Taiwan, United States, China, Nauru, “ Beijing, Taipei, Panama, Texas, Paraguay, Belgium

☆ Ann Arbor School Board Set to Vote on Israel-Gaza Ceasefire Resolution
▼ + stars: | 2024-01-17 | by ( Dana Goldstein | ) www.nytimes.com time to read: 1 min

The public school district in Ann Arbor, Mich., is looking to hire a new superintendent. But over the past month, the Board of Education has debated many hours over whether to support a resolution calling for a cease-fire in the Israel-Gaza war. The closely divided board is now set to vote on that resolution on Wednesday, and could become one of the first public school systems in the country to pass such a statement. Supporters of the proposed resolution, including the board’s Palestinian American president and a Jewish trustee, have said that the statement is an urgent moral necessity amid a humanitarian crisis. A few opponents of the resolution have said that they oppose a cease-fire because Israel has the right to defeat Hamas, the group that controls Gaza, after the Oct. 7 attacks.

Organizations: of Education, Palestinian Locations: Ann Arbor, Mich, Israel, Gaza

☆ New Zealand ex-Prime Minister Jacinda Ardern weds longtime partner
▼ + stars: | 2024-01-13 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

CNN —New Zealand’s former Prime Minister Jacinda Ardern married her longtime partner Clarke Gayford in a private ceremony on Saturday, finally tying the knot after canceling ceremonies during strict Covid-19 controls she imposed on the country. She became a global icon for left-leaning politics and women in leadership as prime minister from 2017 to January last year. Ardern, one of just two women to have a baby as national leaders, took her daughter to a United Nations meeting. Among the guests was Ardern’s successor as prime minister, Chris Hipkins, the current opposition leader, the New Zealand Herald said. In her final speech in parliament, Ardern told Gayford, a New Zealand television presenter, “Let’s finally get married.” The couple’s daughter Neve, is five years old.

Persons: Jacinda Ardern, Clarke Gayford, Gayford, Chris Hipkins, Prince William’s Earthshot, Ardern, “ Let’s, ”, Neve Organizations: CNN, New, United, New Zealand Herald, Harvard University Locations: New Zealand, United Nations, Hawke’s, New, Wellington, Christchurch

WASHINGTON (AP) — The Supreme Court is hearing arguments over a nationwide settlement with OxyContin maker Purdue Pharma that would shield members of the Sackler family who own the company from civil lawsuits over the toll of opioids. The agreement hammered out with state and local governments and victims would provide billions of dollars to combat the opioid epidemic. Sackler family members no longer are on the company's board and they have not received payouts from it since before Purdue Pharma entered bankruptcy. In the decade before that, though, they were paid more than $10 billion, about half of which family members said went to pay taxes. A decision in Harrington v. Purdue Pharma, 22-859, is expected by early summer.

Persons: Sackler, Biden, Trump, ” OxyContin Organizations: WASHINGTON, Purdue Pharma, U.S, Bankruptcy, Justice Department, Purdue Locations: Stamford , Connecticut, Harrington

☆ US Supreme Court to scrutinize controversial opioid crisis settlement that would give Sackler family immunity
▼ + stars: | 2023-12-04 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Barring individual victims from pursuing their own lawsuits against the Sackler family “raises serious constitutional questions,” the department argued. OxyContin’s commercial success helped the Sackler family earn billions of dollars and the family became known for philanthropy around the world. As the country’s opioid crisis worsened, attention shifted to the role played by Purdue Pharma and the Sackler family. Many of the suits allege that the Sackler family knew of OxyContin’s addictive properties but, nevertheless, continued to promote the drug. The Supreme Court hearing comes at a time of devastating losses due to drug overdoses in the US.

Persons: Los Angeles CNN —, Sackler, Mortimer, Raymond Sackler, “, George Frey, Elizabeth Prelogar, ” Anthony Casey, , –, Purdue Frederick, ” Lindsey Simon, ” Organizations: Los Angeles CNN, Purdue, New, US, US Justice Department, Purdue Pharma, Supreme, Knoa Pharma, Purdue Pharma L.P, Bloomberg, Sackler, ”, University of Chicago, school’s, Law, Finance, Guggenheim, Centers for Disease Control, “, Emory University Locations: New York, Purdue, Provo , Utah, U.S, United States, Paris

☆ Explainer: How will the Supreme Court reshape US opioid epidemic relief?
▼ + stars: | 2023-12-03 | by ( John Kruzel | ) www.reuters.com time to read: +5 min

The settlement also would shield the Stamford, Connecticut-based pharmaceutical company's wealthy Sackler family owners from lawsuits brought by opioid victims. A U.S. bankruptcy court approved that restructuring plan in 2021. Lawsuits against Purdue and Sackler family members accuse them of fueling the opioid epidemic through deceptive marketing of its pain medication. They said in May that the bankruptcy settlement would provide "substantial resources for people and communities in need." The administration also has said Sackler family members withdrew $11 billion from Purdue before agreeing to contribute $6 billion to the opioid settlement.

Persons: OxyContin, Sackler, Department's, Joshua Silverstein, Silverstein, Joe Biden's, John Kruzel, Dietrich Knauth, Will Dunham Organizations: Purdue Pharma, WASHINGTON, U.S, Supreme, Purdue, U.S ., District of Columbia, University of Arkansas, Justice Department, Thomson Locations: Stamford , Connecticut, United States, U.S, Little, New York

☆ A wave of tenured professors leaving their highly coveted positions say the DeSantis administration is the reason they're leaving Florida
▼ + stars: | 2023-12-03 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

But the political climate has led some tenured university professors to leave the state, per The Times. But for a swath of liberal-leaning professors, many of them holding highly coveted tenured positions, they've felt increasingly out of place in the Sunshine State. University of Florida law professor Danaya C. Wright told The Times that several job candidates have pulled back their interest in moving to the state. "We have seen more people pull their applications, or just say, 'no, I'm not interested — it's Florida,'" she told the newspaper. AdvertisementChristopher Rufo, a conservative activist tapped by DeSantis to become a trustee of New College of Florida, hailed the faculty departures.

Persons: Ron DeSantis, —, they've, DeSantis, Neil H, Buchanan, Sarah Lynne, Lynne, Danaya, Wright, I'm, Christopher Rufo Organizations: Florida Gov, Times, Service, Sunshine State, Republican Gov, The New York Times, University of Florida College of Law, Florida Republicans, UF, Democratic, University of, University of Florida, The Times . University of Florida, New College of Florida, Florida Locations: Florida, Toronto

Fabric by Gerber Life launched a new investment account for parents to invest on behalf of their kids. Gerber Life's partner brand, Fabric by Gerber Life, offers affordable term life insurance, free wills — and now a new investment account for your child. Fabric by Gerber Life has launched UGMA custodial accounts on their digital platform so you can invest for your child's future. How to open a UGMA account with Fabric by Gerber LifeOpening an account with Fabric by Gerber Life is simple and only takes about five minutes. Flexible spendingA UGMA account is a type of custodial account that permits parents/guardians to invest on behalf of a child/dependent.

Persons: —, Gerber, you'll, grantor, It's Organizations: Gerber Life, Service, Gerber, Fort Washington Investment Advisors, Social, Capital, IRS, Transportation Locations: There's

☆ Rich parents aren't ready to let go of their wealth, but they want to save big on taxes. One neat trick: Stash it in a trust for your spouse.
▼ + stars: | 2023-11-26 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

A properly designed SLAT contains a spendthrift clause, which prevents heirs from using trust assets or future distributions as collateral. After using the beneficiary spouse's $10 million exemption, the estate-tax bill is $9.01 million. The heirs pay income tax on income from the trust, but no estate tax is incurred when the trust passes to the next generation . There are a few caveatsThe trust maker's spouse loses their de-facto access to the assets if the beneficiary spouse dies first. Several courts have ruled against the argument that trust assets are marital property and should be divided.

Persons: aren't, Dan Griffith, they're, Griffith, Robert Strauss, Weinstock Manion, Strauss, Dayal Organizations: Trump, Huntington Bank, Business Locations: guardrails, Ohio

The Supreme Court is set to hear arguments Dec. 4 over whether the agreement, part of the resolution of Purdue Pharma's bankruptcy, violates federal law. She initially opposed the deal with Purdue Pharma but has come around. The Purdue Pharma settlement would be among the largest. But in the decade before that, they were paid more than $10 billion, about half of which family members said went to pay taxes. The department and Purdue Pharma forged a plea bargain in a criminal and civil case.

Persons: Sackler, Ellen Isaacs ’, Ryan Wroblewski, ”, Mike Quinn, ” Lynn Wencus, Jeff, ” Wencus, It's, General Merrick Garland, Donald Trump, Joe Biden, Purdue Pharma’s, ” ___ Mulvihill Organizations: WASHINGTON, Purdue Pharma, Purdue, Sackler, Bankruptcy, Justice Department, Republican, Democrat, Congress, Boy Scouts of, Boy Scout, Catholic, “ Locations: Florida, Wrentham , Massachusetts, Stamford , Connecticut, ”, Boy Scouts of America, Cherry Hill , New Jersey

☆ Man who lived frugally leaves unexpected gift of $3.8 million to small New Hampshire town after death
▼ + stars: | 2023-11-21 | by ( Michelle Watson | ) edition.cnn.com time to read: +3 min

CNN —A man who lived frugally all his life left an unexpected gift of $3.8 million after his death to his small New Hampshire town with less than 4,000 residents. He moved to New Hampshire in 1968 and lived on his social security checks for the last 15 years of his life, Smith said. Holt lived in a trailer park in the town, and the kitchen chairs in his mobile home were made of plywood, Smith said. The nearly $4 million gift came from a trust fund Holt established in 2001, primarily made in mutual funds accounts, according to Smith. A ‘transformational’ gift for a small communityThe town is considering various avenues to use the funds from the newfound gift, Lynch said, including possibly buying an electronic voting machine and fixing the town hall clock, which doesn’t work properly.

Persons: Geoffrey Holt, Edwin “ Smokey ” Smith, Holt’s, Smith, Holt, “ Geoffrey, ”, Hinsdale , New Hampshire Robert F, ” Smith, …, Kathryn Lynch, Lynch, ” Lynch, Kristen Oliveri, ” Oliveri, “ Organizations: CNN, New, New Hampshire Charitable Foundation Locations: New Hampshire, Hinsdale, Massachusetts, Hinsdale , New Hampshire, ”

☆ COP28: What you need to know about the 2023 climate summit in Dubai
▼ + stars: | 2023-11-20 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +8 min

CNN —Tens of thousands of people are heading to Dubai in early December for COP28, the annual international climate summit convened by the United Nations. While the science behind human-caused climate change was still young, scientists knew even then it would be life-changing. The controversy at COP28The climate summit is hosted at a different location each year. “It tells us clearly that the world is not on track to achieve our global climate goals,” Melanie Robinson, the global climate program director for the World Resources Institute, told CNN. A major debate among the parties has been whether to “phase out” or “phase down” fossil fuels.

Persons: John Kerry, Ian Langsdon, —, United Arab Emirates —, Critics, Al Jaber, Britain's King Charles III, COP28, Sultan Ahmed al Jaber, Aaron Chown, John Kerry —, Al Jaber’s, King Charles III, Pope Francis, Joe Biden, China’s, Jinping, Biden, Xi, Larry Fink, It’s, ” Melanie Robinson, ” Robinson, “, Maya Siddiqui, Nate Warszawski, ”, CNN’s Ivana Kottasová Organizations: CNN, COP28, United Nations, Getty, UN, “ Conference, United, United Arab Emirates, Minister of State, Abu Dhabi National Oil Company, Buckingham Palace, US, Publishing, decarbonize, Wall, BlackRock, World Resources Institute, Bloomberg, World Bank Locations: Dubai, Le Bourget, Paris, AFP, Berlin, COP21, United Arab, UAE, Abu Dhabi, Buckingham, France, Germany, Japan, Hami city, Xinjiang province, China, Saudi Arabia, Syria, Russia, Iran, Israel, Egypt, COP27

☆ 3 things to know about the most important relationship in the global economy
▼ + stars: | 2023-11-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +10 min

Even so, finding ways to “get back on a normal course” — in the words of Biden — matters hugely to the global economy. He also pointed to some American companies leaving China altogether, such as asset management giant Vanguard. In the third quarter, a measure of foreign direct investment into China turned negative for the first time in 25 years. The country is by far the world’s biggest gallium producer, and a leading global producer of germanium, according to the US Geological Survey. Listed American companies with big business in China, such as Apple (AAPL) and Tesla (TSLA), may face higher scrutiny, too.

Persons: Joe Biden, Xi Jinping, “, Biden, ”, Scott Kennedy, Chenggang Xu, California Justin Sullivan, Xu, Gina Raimondo, Adam Glanzman, Zongyuan Zoe Liu, Donald Trump, Liu, … Organizations: Hong Kong CNN —, Economic Cooperation, CNN, Center for Strategic, International Studies, Stanford Center, China’s, Shipping, Port, Association of Southeast Asian Nations, European Union, American Chamber of Commerce, Vanguard, Companies, US, Nvidia, Semiconductor Industry Association, Bloomberg, Getty, Geological Survey, Council, Foreign Relations, Communist Party of China Finances, Capital, Apple, Chinese Communist Party, China Economic, Security, Commission, Biden, CFR Locations: China, Hong Kong, San Francisco, Asia, United States, Mexico, Canada, Port of Oakland, California, Shanghai, Ukraine, Moscow, Washington, Beijing, American, New York, US, Japan, Netherlands, Sequoia

☆ Michael Flynn and his family kept leftover donations sent in by QAnon supporters, sister says according to court filing
▼ + stars: | 2023-11-14 | by ( Paul Squire | Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Michael Flynn's family kept money donated to his legal fund, according to new court documents. AdvertisementAdvertisementThe unsealed court documents were part of CNN's attempt to have the defamation case tossed. The Flynn family ultimately pocketed hundreds of thousands of dollars from the fund, according to Semafor. Jared Roberts, an attorney representing the Flynn family members, did not immediately respond to Insider's request for comment. Flynn also sat for a sworn deposition in his family's case against CNN, documents show, but his deposition remains sealed.

Persons: Michael Flynn's, Flynn's, Barbara Flynn Redgate, Lori, Valerie, —, fundraised, Semafor, Valerie Flynn, Flynn, Flynn Redgate, Barbara, Donald Trump, Jared Roberts, Roberts, Michael Flynn, Lin Wood, baselessly Organizations: CNN, Service, US Army, FBI, CIA Locations: New York

In preparing financial statements, also known as compilations, accountants need only documentation used to determine the value of assets, like Trump’s skyscrapers, golf courses and other properties. The firm cut ties with Trump last year and said his financial statements “should no longer be relied upon” after James raised concerns about their accuracy. James, a Democrat, alleges Trump, his company and top executives exaggerated his wealth by billions of dollars on the financial statements by inflating property values. On the stand Tuesday, Flemmons echoed Trump’s longstanding assertion that disclaimers on the financial statements insulated him from liability for discrepancies or misstatements. Trump has argued that, if anything, his financial statements undervalued how much his properties were worth.

Persons: — Donald Trump, Letitia James ’, Jason Flemmons, Donald Bender, Bender, he'd, —, “, Flemmons, James, Trump, Judge Arthur Engoron, “ It’s, ” Flemmons, Steven Witkoff, Trump’s, ” Engoron, Donald Trump Jr, Allen Weisselberg, ” Trump, Eric, Donald Trump, ”, Michael Organizations: USA, York, Trump Organization, U.S . Securities, Exchange Commission, Trump, Ankura Consulting, Mazars, Republican Locations: New York, Lago, Florida, Trump’s Doral , Florida, Michael Sisak, x.com

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