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☆ Inside the secretive operation helping manage billionaire Steve Schwarzman's vast fortune
▼ + stars: | 2024-11-15 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +14 min

Schwarzman has called Blackstone his family office, but he has another family office, BI has learned. Inside Schwarzman's secretive family office with a name that harkens back to his childhood. The concept of the family office can be traced to the 1838 founding of the House of Morgan to handle J.P. Morgan's fortune. Every family office, however, is just as unique as the wealthy family that's spawned it, he said. Advertisement"The term family office," Sharpe said, "is possibly the most misused, overused, and poorly used term in finance today."

Persons: Steve Schwarzman, Schwarzman, Blackstone, —, Averell Harriman, Harriman, Brown, Harry Truman, Donald Trump, Christine Hearst Schwarzman, Gwen Stefani, Theo Wargo, Pennypack, Steve Schwarzman's, Blackstone Schwarzman, Pete Peterson, Marc Sharpe, Michael Dell, Sharpe, they're, Stephen A, John Magliano, Magliano, Paul A ., LLCs, tony Easton, Hearst, Alexi Rosenfeld, Trump's, Stephen Schwarzman, Jabin, Tim Sheehy, Montana, Sheehy, Morgan Organizations: Service, Bloomberg, Ford Motor Co, White, New York Public Library, Metropolitan, Bank of America Securities Financial Services, Blackstone, Vanguard, Family Office Association, Dell Computer, BI, Getty, Schwarzman, LinkedIn, Hearst Schwarzman, Art, Federal Communications Commission, MIT, Humanities, Oxford, New York Public, Schwarzman Education Foundation, Tsinghua University, Policy, Washington, Getty Images Locations: New York, Vietnam, Manhattan, Philadelphia, Blackstone, Schwarzman, Pennypack, Delaware, Nantucket , Massachusetts, Nantucket, Schwarzman's, Newport , Rhode Island, Miramar, Wiltshire, England, Newport ., Beijing, China, North America

☆ Nancy Snow vanished after the election in November 1980. 44 years later, she’s still missing.
▼ + stars: | 2024-11-03 | by ( Veronica Fulton | ) www.nbcnews.com time to read: +21 min

THE SNOW SHOWAt 44 years old, Nancy Snow was a force to be reckoned with. And she loved us so much,” Justine Snow told Dateline. Nancy Snow made the most of her time there. Nancy Snow Justine Snow“We can place her at BWI airport,” David Cordle, retired chief investigator for the Anne Arundel County State Attorney’s Office, told Dateline. “Nancy Snow was one of the ones that I had ended up with.”Cordle worked on Nancy’s case for decades.

Persons: ”, William Noel, Snow, ” Corporal Noel, “, it’s, Nancy Snow, “ Nancy, ” Cpl, Noel, she’s, ” Nancy Snow, Stacy, Justine, Kimberly Justine Snow, Justine Snow, Kimberly, ” Justine, Nancy, Nancy Snow Justine Snow Nancy, Clint Eastwood’s, ’ ” Justine, Justine Snow “, Gene McNary’s, Thomas Eagleton, Ronald Reagan, Jimmy Carter, McNary, Eagleton, Nancy Snow Justine Snow, ” David Cordle, ” Cordle, Cordle, “ Nancy Snow, Louis, ‘, Corporal Noel, she’d, St . Louis, ‘ I’m, hadn’t, She’s, NANCY SNOW, Nancy Snow Justine Snow Justine, J, Jay, “ We’ve, David Cordle, doesn’t, “ I’ve, Nancy Justine Snow, Jane Doe, Jane, Jane Doe’s, nothing’s, Cpl, ” Nancy Snow Justine Snow Organizations: City of, City of Annapolis Police Department, New York Times, Army, Volkswagen, California Bay Area, Republican National Committee, RNC, U.S . Senate, Anne, Attorney’s Office, Annapolis police, Annapolis Police Department, St, Baltimore, ” Authorities, VW, Nancy Locations: City of Annapolis, Europe, Germany, Greece, Spain, Portugal, Italy, France, U.S, California, Maryland, KMST, East Coast, Annapolis, St, Louis , Missouri, “, Baltimore, East Coast from Missouri, BWI, Anne Arundel County, St ., Connecticut, ”, Nancy’s, Caribbean, Florida — Fort Lauderdale, Bahamas, Georgia , Connecticut, CODIS

☆ Elder financial harm prevention: How to protect a loved one in cognitive decline
▼ + stars: | 2024-10-23 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +10 min

[As in] ‘You’re not paying your bills!” said Steven Rubin, a certified elder law attorney and partner at Drazen Rubin. Why having a customized power of attorney is beneficialIt’s easy enough to download a standard power of attorney form from the internet. But that doesn’t mean the elderly person, if cognitively able, can’t also maintain control over their finances. Other ways to help a loved one avoid financial pitfallsHaving powers of attorney is the most comprehensive way for you to address potential problems with your loved one’s financial behaviors or spot if they’re being scammed. If scammers have been calling frequently, you might consider changing your loved one’s phone number, if you have powers of attorney, Rubin said.

Persons: ”, Judith Flynn, “, doesn’t, Jonathan Canick, ” Canick, ‘ You’re, Steven Rubin, Drazen Rubin, Rubin, you’ve, Flynn, that’s, cognitively, can’t, “ It’s, ” Flynn, It’s, parent’s “, won’t Organizations: CNN, Research, Falco & Associates, National Academy of Elder, Consumer Financial, Bureau, Facebook, National Institute, Aging

Longtime friends and neighbors fell out of touch and in some cases died, leaving the couple more isolated and vulnerable. Not long before he met the Davises, Maw pitched a local businessman on investing in his engine business. In the Davises, he had met a couple who had sizable bank accounts and an impressive car collection. The buyer also said he paid more for LaDonna’s property than for two larger buildings on the same street.) The Davises' property on Holt Avenue in West Covina.

Persons: James, LaDonna, ”, Michael McCasland, Min Zaw Maw, Maw, “, Javier Puga, ” Puga, Ladonna’s, Frank Piro, Piro, Amis, didn’t, McCasland, Davis, Min Maw, “ Maw ingratiated, ” McCasland, Rich Schapiro, Diana Homeier, ” Homeier, ” Maw, Maw “, LaDonna Davis, Moe, Gilbert Amis, ” Amis, Brett Hitchman, ” Piro, ” LaDonna, Min, Juan Dotson, Dotson, Michael Ebiner, ” Ebiner, ’ ”, Gus May, Hitchman, ” Hitchman, LaDonna “, Ebiner, breathlessly, Stacey Wood, Wood, ’ Organizations: Powertek Engineering Group, Pacific Western Bank, Citizens Business Bank, NBC News, McCasland, Holt, St, NBC, Nascar, Google, Protective Services, Center, Adult Protective Services, ”, Public Guardian, West, West Covina police, Bank of America, Scripps College Locations: Holt, Myanmar, Arcadia, LaDonna, West Covina, Vincent, St, Upland, Calif, Angeles County, McCasland, Los Angeles

☆ The Bank of Japan's next rate hike may come in December, not this week: CNBC survey
▼ + stars: | 2024-09-16 | by ( Lin Lin | ) www.cnbc.com time to read: +1 min

Bank of Japan Governor Kazuo Ueda attends a session in the financial affairs committee at the lower house of parliament on Aug. 23, 2024 in Tokyo. Economists, FX strategists and Japan-focused fund managers are split over the timing of the Bank of Japan's next interest rate hike, according to a new CNBC International survey. BOJ Governor Kazuo Ueda said last month that the central bank would continue to raise interest rates if inflation stayed on course, while also closely monitoring financial market conditions. "We think the central bank will be keen to move gradually and allow the impact of the July rate hike to be fully felt," said Jessica Hinds, director in Fitch Ratings' economics team. CNBC's survey found 18.75% of respondents expect a hike for the October meeting, while another 25% said a hike was possible.

Persons: Kazuo Ueda, Jessica Hinds Organizations: Japan, FX, Bank of Japan's, CNBC International, CNBC, Fitch Locations: Tokyo, Japan

☆ I'm a millennial mom of 3, and I rely on my mom's financial assistance
▼ + stars: | 2024-08-24 | by ( Alyse Benoit | ) www.businessinsider.com time to read: +6 min

Without a doubt, my mom expected to be free of dependents decades ago. But here I am, 39, unable to save a cent, in need of her financial support. I was otherwise financially independent, worked three jobs, had a good chunk of money saved, and my life was planned out. Not only was I feeling the effects of financial strain from the cost of school, but physical, mental, and ethical exhaustion had taken hold. She loaned me money to pay off that debt and told me I could pay my rent when I received my next student loan payment.

Persons: stepdad, —, I've Organizations: Service Locations: midlife

We talked to several experts to help estimate the cost of creating a will and other estate planning documents. Average costsJack Hales, an estate and probate attorney at Hales and Sellers, said the cost of your estate plan can vary widely depending on what you need done. These frequently require notarization, which comes with a small fee, but other than that, they cost nothing but the cost of the paper on which they are written. Small changes using a lawyer may cost you a few hundred dollars, while updating your will through an online platform may only cost you $20. FAQsWhat is the average cost of creating a will?

Persons: Patrick Hicks, Hicks, Jack Hales, Hales, Sellers, Erin Bury, Rochelle Schultz, Weinstock Manion, it's, you'll, Notarization, Indrika Arnold, Will, Bury, who's, they're Organizations: Trust, Will, Bury, Financial, The Colony, National Council, Aging, Inc Locations: San Francisco, Topeka, Chevron

☆ Judge dismisses Giuliani’s bankruptcy case, allowing creditors to try to seize his assets
▼ + stars: | 2024-07-12 | by ( Katelyn | ) edition.cnn.com time to read: +5 min

CNN —Rudy Giuliani is no longer entitled to bankruptcy protection, a judge decided Friday, making it possible for creditors to immediately pursue his assets within days. Judge Sean Lane of the federal bankruptcy court in New York made the decision partly because of Giuliani’s lack of transparency after he filed for bankruptcy more than six months ago. The worth of those other assets is unclear, as creditors accuse Giuliani of downplaying or not disclosing complete estimates of the value of what he owns. The creditors believe one World Series ring alone would sell for nearly $30,000, according to court filings in his bankruptcy case. Giuliani agreed to end his bankruptcy proceedings, after Freeman and Moss suggested that approach earlier this week.

Persons: CNN — Rudy Giuliani, Giuliani, Ruby Freeman, Shaye Moss, Sean Lane, Lane, Giuliani hadn’t, Giuliani hasn’t, Mr, ” Lane, ” Giuliani –, –, Moss, Freeman, Joe DiMaggio, Singer, Donald Trump, CNN’s Sabrina Shulman Organizations: CNN, New, Mercedes, Benz, New York Yankees, Trump Locations: New York, Georgia, New York City, Palm Beach , Florida, Manhattan, Florida, California, White Plains , New York, Arizona, Dominion

☆ Money problems can be an early sign of dementia
▼ + stars: | 2024-07-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

When a family member who has been fairly responsible with money all their lives becomes careless with their finances, it may be one sign of as-yet-undiagnosed dementia. “The harmful financial effects of undiagnosed memory disorders exacerbate the already substantial financial pressure households face upon diagnosis,” the researchers wrote. Two parents with dementia, one daughter’s efforts to reduce financial worryJayne Sibley, who lives in the United Kingdom, knows the pain and stress of dealing with the financial behaviors that can signal dementia. Her mother also would take money out of the cash machine two to three times a day and give it to anyone who asked. Of course, no amount of advanced financial planning can alleviate the heartbreak of watching a loved one with dementia decline.

Persons: Marcey Tidwell, ”, Tidwell, Karen Lemay, “, Lemay, hadn’t, ” Lemay, Jayne Sibley, ” Sibley, Sibley, doling, Ditto, ’ ”, ” Tidwell Organizations: New, New York CNN, New York Federal Reserve, Johns Hopkins Bloomberg School of Public Health, US National Institute, Aging Locations: New York, Bloomington , Indiana, Ottawa, Canada, United Kingdom, Sibley

☆ Jay Leno and wife Mavis attend ‘Unfrosted’ red carpet event amidst her dementia diagnosis
▼ + stars: | 2024-05-01 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Jay Leno and his wife Mavis were full of smiles Tuesday as they supported some of Leno’s comedic colleagues. The couple attended the Los Angeles red carpet premiere for “Unfrosted,” a comedy about the origin of Pop-Tarts, which is the directorial debut of comedian Jerry Seinfeld. Leno, who recently celebrated his 74th birthday, has been granted conservertorship over his wife’s estate as she lives with advanced dementia. “I am so sick of these hard hitting controversial documentaries,” Leno joked to Seinfeld as his wife Mavis Leno laughed. “Can’t somebody just make a comedy anymore?”Seinfeld noted that he and Leno have been friends since 1978 and Leno said he was “very proud” of Seinfeld.

Persons: CNN — Jay Leno, Mavis, “, ”, Jerry Seinfeld, Amy Schumer, Melissa McCarthy, Jim Gaffigan, Leno, conservertorship, Mavis Leno, Seinfeld’s, ” Leno, Seinfeld, ” Seinfeld, CNN’s Alli Rosenbloom Organizations: CNN, Los, Hollywood Locations: Los Angeles

☆ Rise of Hate Spending: Americans Detest High Prices but Keep Shopping
▼ + stars: | 2024-04-21 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

According to experts I talked to, the surge in hate spending can be attributed to various factors. They're aware prices aren't going back to 2019 levels, and given everything everyone's just been through, they may as well live it up. She told me that she often finds herself outraged by prices — and then ultimately succumbs to the forces of capitalism. It's easy to say you want to cut back on spending, given high prices, but when a friend asks whether you want to go shopping, it's hard to say no. Hart, the Illinois writer with a brand-new Stanley cup, sees some of her spending as a way to reclaim power.

Persons: Christ, Lydia Boussour, they're, everyone's, Jordan Hart, Hart, Boussour, —, they've, it's, acclimated, It's, Claire Tassin, Tassin, There's, Taylor Swift, jonesing, people's, Ravi Dhar, Dhar, he'd, he's, I've, she'd, she'll, Stanley Organizations: Retail, Consumers, Morning, Center, Yale School of Management Locations: America, Illinois, YOLO splurging, Europe, York

☆ It’s time to give caregivers more support
▼ + stars: | 2024-04-10 | by ( Katia Hetter | Phyllis Fagell | ) edition.cnn.com time to read: +10 min

Conversations with a wide variety of caregivers, paid and unpaid, helped her realize she wasn’t alone. And yet we are very isolated now, more isolated than ever—and isolation does not work for caregivers. This is bigger than the retail sector and yet so many caregivers are made to feel as though our efforts are small–and not worthy of support. Elissa Strauss: Whether someone is caring for an adult parent, a sick spouse or a child, caregivers are failed across the board. CNN: How could we as individuals support caregivers more?

Persons: Phyllis L, —, Jay Leno, Mavis, Benjamin Shmikler, Elissa Strauss, there’s, Elissa Strauss Laura Turbow Strauss, ”, Strauss, “, wasn’t, Caregiving, Charles Darwin ., Darwin, wouldn’t, I’m, it’s, Simon, Schuster Elissa Strauss, we’re, I’ve, doesn’t, you’re, we’ve Organizations: CNN, “, Roxy, Los Angeles Superior, Others, ” CNN, International Labor Organization Locations: West Hollywood, United States

Estate planning may not be a topic you want to think about, but it's essential for small-business owners. Estate planning is a very sensitive, emotional topic, but as a financial planner, I believe it's essential to discuss. Estate planning should be a top priority — especially for Black business owners seeking to build generational wealth and preserve their legacies. Digital estate planning documentA common blind spot in estate planning is the digital asset space. Digital estate planning will make it easier for your heirs to access your digital assets as needed.

Persons: —, doesn't Organizations: Service

(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

☆ What do we know about China's new financial watchdog?
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +4 min

BEIJING, Nov 21 (Reuters) - China's Central Financial Commission (CFC), a new regulator with Premier Li Qiang as its head, held a meeting on Monday and urged stronger supervision of risks in the financial sector as Beijing accelerates efforts to become a "major financial power". The CFC was set up for the top-level design, development and supervision of the financial sector, strengthening "unified leadership on financial work", according to a restructuring plan published by state media in March this year. The CFC has recruited many officials from the central bank and the finance ministry, financial news outlet Caixin reported earlier this month. The appointments indicate that both officials, who are close confidants of President Xi Jinping, will play important roles in shaping China's financial policies. He was also appointed as party chief of a separate Central Financial Work Commission (CFWC), which has been set up to strengthen the ideological and political role of the party in China's overall financial system.

Persons: Li Qiang, Premier Li, Li, Lifeng, Xi Jinping, Wang Jiang, Xia Xiande, Xi, Ziyi Tang, Kevin Yao, Ryan Woo, Sumeet Chatterjee Organizations: Financial Commission, Communist Party, CFC, WHO, THE, Financial Work, China Everbright Group, Analysts, Reuters, National Financial Regulatory Administration, State Council, People's Bank of China, prudential, Thomson Locations: BEIJING, Beijing, China, Lincoln

☆ BOJ looks to corp profits, household incomes to boost wages, prices
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 14 (Reuters) - The Bank of Japan (BOJ) will aim to create conditions for raising prices and lifting wages through increases in corporate profits and household incomes instead of cost-push inflation, its deputy governor Shinichi Uchida said on Tuesday. "The BOJ will continue to support economic activity and strive to create an environment wherein it's easy to raise wages," he said during a debate at the parliament's upper house committee on financial affairs. Even with upward pressure on long-term interest rates, the BOJ does not believe the 10-year yield will significantly exceed 1%, said Kazuhiro Masaki, director-general of the central bank's monetary affairs department. Reporting by Satoshi Sugiyama; Editing by Tom Hogue & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Shinichi Uchida, Kazuhiro Masaki, Satoshi Sugiyama, Tom Hogue Organizations: Bank of Japan, REUTERS, Rights, Thomson Locations: Tokyo, Japan

☆ In very rare move, Pope dismisses conservative US bishop Strickland
▼ + stars: | 2023-11-11 | by ( Philip Pullella | ) www.reuters.com time to read: +1 min

VATICAN CITY, Nov 11 (Reuters) - Pope Francis has dismissed Bishop Joseph E. Strickland of Tyler, Texas, one of his fiercest critics among U.S. Catholic conservatives, a Vatican statement said on Saturday. It is very rare for a Roman Catholic bishop to be relieved of his duties outright. Usually bishops in trouble with the Vatican are asked to resign before submitting a resignation, which the pope accepts. Popes make such moves, considered drastic, when a bishop refuses a request to resign. Francis named the bishop of Austin, Texas, Joe Vasquez, as the interim administrator of the diocese, the statement said.

Persons: Pope Francis, Bishop Joseph E . Strickland, Strickland, Francis, Joe Vasquez, Phil Pullella, Alvise Armellini, Kirsten Donovan Organizations: CITY, U.S, Roman, Vatican, Bishops Conference, Thomson Locations: Tyler , Texas, Tyler, Austin , Texas

☆ In very rare move, Pope dismisses conservative U.S. bishop Strickland
▼ + stars: | 2023-11-11 | by ( ) www.cnbc.com time to read: +3 min

Pope Francis has dismissed Bishop Joseph E. Strickland of Tyler, Texas, one of his fiercest critics among U.S. Roman Catholic conservatives, a Vatican statement said on Saturday. Usually bishops in trouble with the Vatican are asked to resign before submitting a resignation, which the pope accepts. Strickland, a prolific user of social media who was named to the diocese by the late Pope Benedict in 2012, tweeted earlier this year that he rejected Pope Francis' "program undermining the Deposit of Faith". Strickland is a strong supporter of former U.S. president Donald Trump and is seen as a hero by conservative U.S. Catholic media outlets that are aligned with Trump. The Vatican said Francis named the bishop of Austin, Texas, Joe Vasquez, as the interim administrator of the Tyler diocese.

Persons: Joseph Strickland, Pope Francis, Bishop Joseph E . Strickland, Strickland, Pope Benedict, Francis, Donald Trump, Frank Pavone, Joe Vasquez Organizations: Los Angeles Dodgers, Dodger, Roman, Vatican, Bishops Conference, U.S . Church, Catholic, U.S, Trump, Twitter Locations: Tyler , Texas, Los Angeles , California, U.S, Tyler, Texas, United States, Austin , Texas

☆ Morning Bid: Powell pushback puts cloud 9 beyond reach
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +5 min

Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, U.S., November 1, 2023. Curiously, there was little change in that basic market pricing after Powell spoke - with end-2024 futures still pointing at a rate of 4.50-4.75% versus the current 5.25-5.50%. But the Treasury market did suffer a bigger jolt - as they were also undermined by poor demand at the latest long bond auction. But others pointed to a ransomware attack on the U.S. arm of The Industrial and Commercial Bank of China, which reportedly disrupted trades in the Treasury market on Thursday. Whatever the main cause, fresh bond market jitters were enough to knock the S&P500 out of its winning streak and close almost 1% lower.

Persons: Jerome Powell, Kevin Lamarque, Mike Dolan, Jerome Powell's pushback, Powell's, Powell, 5bps, Sterling, Janet Yellen, Lorie Logan, Raphael Bostic, Christine Lagarde, Joachim Nagel, Elaine Hardcastle Organizations: Federal, Committee, Federal Reserve, REUTERS, Veterans, Commercial Bank of China, Treasury, University of Michigan, Dallas Federal, Atlanta Fed, European Central Bank, Financial Affairs, Reuters, Thomson Locations: Washington , U.S, U.S, United States, HK, Washington, Beijing, Atlanta

☆ Exclusive: Star Chinese fund manager Wang detained and under investigation - sources
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Oct 13 (Reuters) - Wang Yawei, a star fund manager in China, has been detained by authorities since August and is under investigation, according to three sources with knowledge of the matter. The 52-year-old founder of Qianhe Capital Management in Shenzhen and Top Ace Asset Management in Hong Kong is the latest high-profile Chinese business executive to be investigated or detained. His case relates to an investigation into Zhu Congjiu, a former senior official at China's top securities regulator, the sources said. Before setting up his own shop, Wang spent 14 years at China Asset Management Co (AMC), one of the country's largest mutual fund houses, as its vice-president and chief investment officer. Zhu is one of several former China Securities Regulatory Commission (CSRC) officials to come under scrutiny in recent years.

Persons: Wang Yawei, Zhu Congjiu, Wang, Zhu, Xi, Sumeet Chatterjee, Edwina Gibbs Organizations: Qianhe Capital Management, Asset Management, Communist, Central Commission, Ministry of Public Security, Qianhe, China Asset Management Co, AMC, China Securities Regulatory Commission, Shanghai bourse, Reuters, Thomson Locations: China, Shenzhen, Hong Kong, Zhejiang province

☆ Ex-F1 boss Bernie Ecclestone spared jail after admitting tax fraud
▼ + stars: | 2023-10-12 | by ( Sam Tobin | ) www.reuters.com time to read: +3 min

Ecclestone has also agreed a civil settlement with HM Revenue and Customs (HMRC), under which he will pay 652.6 million pounds covering tax, interest and penalties for 18 tax years between 1994 and 2022, prosecutor Richard Wright said. The 92-year-old appeared at London's Southwark Crown Court and pleaded guilty to one count of fraud by false representation, just over a month before he was due to stand trial. Ecclestone gave an unintelligible response to reporters as he left the court and got into a waiting Range Rover. Richard Las, chief investigation officer and director of the Fraud Investigation Service at HMRC, said Ecclestone had "lied to HMRC". The decision also states that Ecclestone paid around 250 million pounds in income and capital gains tax to HMRC between 1999 and 2017.

Persons: Bernie Ecclestone, Belinda Jiao, Ecclestone, Richard Wright, Simon Bryan, Clare Montgomery, Andrew Penhale, Richard Las, Bryan, Mr Ecclestone, Montgomery, Vladimir Putin, Sam Tobin, William James, Alex Richardson, Susan Fenton Organizations: Formula, Southwark Crown, HM Revenue, Customs, HMRC, Crown Prosecution Service, Thomson Locations: Southwark, London, Britain, Singapore

☆ Bernie Ecclestone: Ex-F1 boss spared jail after admitting tax fraud
▼ + stars: | 2023-10-12 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Reuters —Ex-Formula One boss Bernie Ecclestone was spared an immediate prison sentence on Thursday after he pleaded guilty to misleading Britain’s tax authority about overseas assets worth more than 400 million pounds ($492 million). Ecclestone has also agreed a civil settlement with HM Revenue and Customs (HMRC), under which he will pay 652.6 million pounds covering tax, interest and penalties for 18 tax years between 1994 and 2022, prosecutor Richard Wright said. The 92-year-old appeared at London’s Southwark Crown Court and pleaded guilty to one count of fraud by false representation, just over a month before he was due to stand trial. Belinda Jiao/ReutersJudge Simon Bryan gave Ecclestone a 17-month prison sentence suspended for two years, meaning he will only go to jail if he commits another criminal offense during that time. His lawyer Montgomery had noted at a previous hearing in January that Ecclestone was charged shortly after he made “unpopular” comments about Russian President Vladimir Putin.

Persons: Reuters —, Bernie Ecclestone, Ecclestone, Richard Wright, Belinda Jiao, Simon Bryan, Clare Montgomery, Ecclestone “, ” Ecclestone, Andrew Penhale, ” Richard Las, “, Elizabeth Cook, Bryan, Mr Ecclestone, Montgomery, Vladimir Putin Organizations: Reuters, HM Revenue, Customs, Southwark Crown, HMRC, Brabham, Crown Prosecution Service Locations: Southwark, Singapore

My mother died in 2021, and my father passed away in 2023, both in their 90s with long lives and, thankfully, gentle passings. Because of that planning, wrapping up my mother's financial affairs after her death only took a few months. We did everything rightActing as their power of attorney, I managed my parents' financial planning for several years before their deaths, including placing most of their assets into irrevocable trusts. What I've learned about handling a second parent's estateOther than hiring someone else to handle your deceased parent's affairs, there's no easy way to wrap up financial affairs after both your parents are gone. Estate planning: Having a will and (if needed) trust documents prepared by a lawyer will make your life easier.

Persons: I've, I'd, I'm, preparer, they're Organizations: Will

☆ Hunter Biden expected to receive indictment related to gun charges his attorneys hoped to resolve in now scorched-earth plea deal
▼ + stars: | 2023-09-07 | by ( Associated Press | Lloyd Lee | ) www.businessinsider.com time to read: +6 min

Federal prosecutors expect to hand Hunter Biden a new indictment before September 29. The indictment will be related to gun charges Biden's attorneys hoped to resolve in July. He has also been under investigation by federal prosecutors for his business dealings. Defense attorney Abbe Lowell said Hunter Biden has kept to the terms of the deal, including regular visits by the probation office. The White House Counsel's office referred questions to Hunter Biden's personal attorneys.

Persons: Hunter Biden, Biden, Joe Biden's, Hunter, Delaware David Weiss, Hunter Biden's, Abbe Lowell, Maryellen Noreika, Kevin McCarthy, Department's, Noreika, Donald Trump, should've, Robert Weisberg, General Merrick Garland, Weiss, Farnoush Amiri Organizations: Service, —, U.S, Attorney, Prosecutors, District, Justice, Republicans, Fox News, Treasury Department, Hunter, Stanford Law School, Supreme, News Locations: Wall, Silicon, WASHINGTON, Delaware, Louisiana

☆ For Scotland, Independence Will Always Be an Option - The New York Times
▼ + stars: | 2023-08-07 | by ( Alex Massie | ) www.nytimes.com time to read: +2 min

The bloom is truly off the Scottish National Party, which has continued to dominate political life here in the almost decade since it lost the independence referendum. The party has held majorities in the devolved Parliament and in the Scottish seats at Westminster, and a volley of opinion polls, routinely reporting that Scots under the age of 49 favor independence, bolstered the sense that Scottish independence was a historical inevitability. Ms. Sturgeon insists that she is innocent of any wrongdoing. But even before the allegations, Ms. Sturgeon’s plans for independence had run out of steam. (Ms. Sturgeon’s lackluster successor, Humza Yousaf, has not revitalized the movement.)

Persons: Nicola Sturgeon, Sturgeon, Sturgeon’s, Humza Yousaf Organizations: Scottish National Party, Westminster, Scottish, Labour Party Locations: Scotland, United Kingdom

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