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☆ CNBC Daily Open: Powell maintains that elections won't sway Fed's policy
▼ + stars: | 2024-11-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Kent Nishimura | Getty ImagesThis 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. Powell, in yesterday's press conference, maintained that "the election will have no effect on our policy decisions." "By December, we'll have more data, I guess one more employer report, two more inflation reports and lots of other data," Powell said. — CNBC's Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound and Alex Harring contributed to this report.

Persons: Jerome Powell, Kent Nishimura, Jim Reid, Trump, Scott Helfstein, Powell, we'll, that's, —, Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound, Alex Harring Organizations: FTSE, Federal, CNBC, Deutsche, Tech, Apple, Nvidia, Nasdaq, Dow Jones, Global, Congress, Fed Locations: GDAXI, Washington, Washington , DC

☆ CNBC Daily Open: Powell emphasizes that elections won't sway Fed's policy
▼ + stars: | 2024-11-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Andrew Caballero-Reynolds | AFP | Getty ImagesThis 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. Powell, in yesterday's press conference, maintained that "the election will have no effect on our policy decisions." According to the futures market, just 30.4% of traders think the Fed will cut rates again in January. "By December, we'll have more data, I guess one more employer report, two more inflation reports and lots of other data," Powell said.

Persons: Jerome Powell, William McChesney Martin Jr, Andrew Caballero, Reynolds, Jim Reid, Trump, Scott Helfstein, Powell, we'll, that's, —, Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound, Alex Harring Organizations: Federal Reserve, AFP, Getty, CNBC, Deutsche, Tech, Apple, Nvidia, Nasdaq, Dow Jones, Global, Congress, Fed Locations: Washington , DC

☆ 4 portfolio stocks tied to tariff-risk jump — plus, mixed signals about another
▼ + stars: | 2024-11-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

We're wondering if the amount of supply hitting the Treasury market is becoming more of a factor. For example, stocks with tariff risk like Club stocks Best Buy , Stanley Black & Decker , Home Depot , and Constellation Brands rallied. 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 . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Donald Trump, Stanley Black, Bill Newlands, Tom Jorden, It's, Piper Sandler, Piper, Wynn, Archer Daniels, Jim Cramer's, Jim Organizations: CNBC, ., Stocks, Treasury, Constellation Brands, Constellation, Energy, Wynn Resorts, Astera Labs, Diamondback Energy, Vertex Pharmaceuticals, DuPont, Archer Daniels Midland, Restaurant Brands, Emerson, Jim Cramer's Charitable Locations: Tuesday's, Modelo, Corona, Jorden, Cleveland, China

☆ Surge in UK borrowing costs is not a repeat of the 'mini-budget' crisis, economists say
▼ + stars: | 2024-11-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Loading chart...LONDON — U.K. borrowing costs posted two days of gains right after the Labour government unveiled a huge package of borrowing and tax rises in its Wednesday budget — but analysts downplayed the possibility of a second "mini-budget" crisis in the British bond market. The 10-year gilt yield , representing medium-term borrowing costs for the government, was slightly lower on the day at 11:20 a.m. London time. Yields move inversely to prices, so higher yields represent a sell-off in bonds — and an aversion to funding U.K. debt. The incident sent bond yields soaring so rapidly, they threatened to destabilize pension funds. Loading chart..."The market is right to be concerned" about the U.K. fiscal outlook, Mohit Kumar, chief financial economist for Europe at Jefferies, told CNBC.

Persons: Rachel Reeves, Reeves, Liz Truss, BOE, Susannah Streeter, Hargreaves Lansdown, It's, Streeter, CNBC's, Sterling, Mohit Kumar, We've Organizations: LONDON, Labour, Wednesday, Bank of England, Deutsche Bank, Hargreaves, U.S ., Jefferies, CNBC Locations: London

The record shows that Mr. Trump often pursues his stated goals, regardless of how plainly they lack legal or moral grounding. For this reason, Americans would be wise to see this language as a genuine threat, not simply Mr. Trump on a tangent. Why You Should Believe Him As president, Mr. Trump repeatedly sought to use the power of government to punish his political opponents. But rules can be rewritten, and Mr. Trump has made clear that he intends to pick officials who will take orders from the Oval Office. Mr. Trump would have broad authority to pursue such a plan, though he’d need Congress to provide a lot of money.

Persons: Donald Trump, Will, Trump, supplicants, ”, Newsmax, Joe Biden, Hillary Clinton, John Kerry, James Comey, Andrew McCabe, Comey’s, Trump’s, Biden, Kamala Harris, Stephen Miller, Jan, Mark Esper, Esper, “, shoplifters, Mark Milley, John Kelly, James Mattis, Gavin, we’re, Gavin Newsom, Hurricane Maria, Hurricane Michael, Mr, Ron DeSantis, Mark Harvey Organizations: U.S, Department, National Guard, Justice Department, Mr, NPR, Fox, Capitol, American, —, Joint Chiefs of Staff, Joint Chiefs, Associated Press, Democratic, Puerto Rico, Florida Panhandle, National Security Council, Politico, Trump, Congress Locations: smithereens, America, New York, Ukraine, Arizona, United States, Erie, Pa, Iran, North Carolina, Coachella, California, Florida, Hurricane, Orange County, Calif, Iowa, Richmond , Va, South Carolina, Russia

☆ Harvard donations dropped nearly 15% amid wealthy alums' vows to cut off support
▼ + stars: | 2024-10-18 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Harvard donations are down following a year of campus turmoil. AdvertisementHarvard saw a dip in donations in the most recent fiscal year amid a wave of big-name backers pulling their financial support after fallout from the university's response to the Israel-Hamas war. In fiscal year 2024, which ended June 30, the Ivy League institution brought in just under $1.2 billion in cash gifts, according to a Harvard financial report released Thursday. Some wealthy alumni publicly vowed to suspend donations to Harvard following the university's bungled response to the campus unrest that spread across higher education institutions nationwide last year. Earlier this month, Garber hinted at the coming downturn in donations, telling the university's student newspaper, The Harvard Crimson, that the year's commitments were "disappointing" compared to prior years.

Persons: —, Alan Garber, Garber, Ritu Kalra, Kalru, Karlu, Claudine Gay Organizations: Service, Harvard, Ivy League, University, Business, Harvard Crimson, Bloomberg Locations: Israel

☆ I stayed in a glamping tent and a tiny house resort on a small island near Singapore. One was a better escape from city life.
▼ + stars: | 2024-10-08 | by ( Erin Liam | ) www.businessinsider.com time to read: +6 min

On a recent trip there, I spent one night in a glamping tent and the other in a tiny house. The tiny house was more comfortable, but the glamping tent felt like a proper escape from the city. Big Tiny, a tiny house startup in Singapore, launched Tiny Away on Lazarus in May last year. AdvertisementThe tiny house was more comfortableDespite the tent having a queen-sized bed (left), the author felt more comfortable in the tiny house (right). The glamping tent offered a more novel experienceThe author spent one night journaling in the glamping tent (left) and the other watching Netflix in the tiny house (right).

Persons: —, Lazarus, May, Ray Lee, Sam Wong, Prudence Lai, Erin Liam, cofounders, there's, unplug Organizations: Service, Sentosa Development Corporation, Singapore's Ministry of Trade and Industry, Singapore Zoo, Business, Netflix Locations: Lazarus, Singapore, Southern

A credit card cash advance allows you to withdraw cash from your credit card's credit limit. Understanding Credit Card Cash AdvancesWhat Is a Credit Card Cash Advance? If you don't have a zero-interest credit card offer available, it could be worth applying for a credit card like the Citi® Double Cash Card or the Citi Simplicity® Card . A credit card cash advance borrows cash against your credit card's line of credit. We reviewed dozens of credit cards to bring you our top recommendations (read more about how we rate credit cards here).

Persons: it's, Cash, Sheryl Nance, Nash Sheryl Nance, Nash, Read Organizations: Business Insider, Citi, Cash, Quicken, Money Magazine, The New York Times, Newsday Locations: New York

☆ I've always had a hard time decluttering. When my childhood home burned down, I learned a lot about letting go.
▼ + stars: | 2024-09-28 | by ( Allison Young | ) www.businessinsider.com time to read: +5 min

I've always been a bit of a pack rat and had a hard time decluttering. I learned a hard lesson about letting go. The sudden scarcity brought my life's inventory into heightened focus. AdvertisementFrom the rubble, I learned a few lessonsAs fast as our home burned down, the recovery is glacial in its pace. I collect receipts for what I've replaced, and painstakingly assess how not to perpetuate my cycle of accumulating without decluttering.

Persons: I've, —, It's, it's, feebly, we'd Organizations: Service, Flames

☆ Murdoch family holds its breath as future of media empire hangs in the balance
▼ + stars: | 2024-09-26 | by ( Hadas Gold | ) edition.cnn.com time to read: +3 min

Murdoch and his eldest children descended on a Reno courthouse to appear for evidentiary hearings in a secret trial to determine whether the 93-year-old can alter the family trust that he established decades ago, giving his four oldest children equal votes over the future of his conservative media empire after he dies. Murdoch wants to amend the trust so that his eldest son and chosen successor, Lachlan, will remain in charge for decades to come. But the three other Murdoch children — James, Elisabeth and Prudence — oppose the change, and have challenged it in court. In the coming days or weeks, a probate commissioner will issue a report and recommendation on whether Murdoch can change the family trust, according to Elyse Tyrell, an attorney in Las Vegas who specializes in trusts and estates. Each party will then have 10 days to object to his report and recommendation, Tyrell said.

Persons: Rupert Murdoch’s, Murdoch, Lachlan, James, Elisabeth, Prudence —, Elyse Tyrell, Tyrell, ” Tyrell, “, ” Organizations: New, New York CNN, Fox News, The New York Times, Wall Street, Fox, Street, New York Post, CNN, Nevada Supreme Locations: New York, Reno, Las Vegas, Nevada, Australia, American

☆ Behind the scenes at the Murdoch family's secret court fight
▼ + stars: | 2024-09-23 | by ( Peter Kafka | ) www.businessinsider.com time to read: +11 min

The biggest story in media right now has nothing to do with sexting. But recently, Rupert Murdoch has been trying to change those plans, and pass along full control to Lachlan Murdoch, who now has the CEO title at both News Corp and Fox. AdvertisementElisabeth Murdoch and her father, Rupert Murdoch, pictured in 2010. I think Lachlan would hope to figure out ways to keep on keeping on. Related storiesThroughout his career, Rupert Murdoch was always willing to sell assets he'd spent time and money acquiring.

Persons: Rupert Murodoch's, Murdoch, haven't, Rupert Murdoch's, Lachlan, James, Elisabeth, Prudence —, Rupert Murdoch, Lachlan Murdoch, David Folkenflik, Elisabeth Murdoch, Samir Hussein, he'd, didn't, I've, Rupert, Prudence Murdoch, Prudence MacLeod, Evan Agostini, It's, He's, it's, NPR's David Folkenflik, Gabriel Sherman, you've, Suzanne Scott, who've Organizations: Service, Fox News, Business, — News Corp, New York Post, Street Journal, Fox Corp, Fox, News Corp, HBO, Trump . Fox News, Disney, Sky News, Capitol, NPR, Nevada Supreme, Court, Corp, Old Media, Fair, NBC, Street Locations: Reno , Nevada, Nevada, Rupert's, Australia, Reno

☆ The Murdoch family battle could have huge implications for the future of Fox News
▼ + stars: | 2024-09-17 | by ( Brian Stelter | ) edition.cnn.com time to read: +5 min

But at Fox News, they gossip about the Murdochs, the family who controls Fox’s parent company. What will happen after patriarch Rupert Murdoch dies? Could Lachlan’s younger brother James Murdoch force Fox to take a progressive bent? Rupert Murdoch, 93, is seeking to amend the family trust that he established decades ago, giving his four oldest children equal votes over the future of his conservative media empire after he dies. Under the current terms, Lachlan, James, Elisabeth and Prudence Murdoch each have equal voting rights after their father dies.

Persons: Rupert Murdoch, Lachlan, James Murdoch, Fox, Murdoch, James Murdoch’s, ”, James, Fox’s, Biden, Kamala Harris, James ”, Donald Trump, Rupert, Elisabeth, Prudence Murdoch, Maureen Dowd, Rupert “, ” James, Prudence, Bill Barr Organizations: New, New York CNN, Fox News, Fox, Fox Corp, HBO, CNN, The New York Times, News Corp, Wall Street Journal, New York, Liberal, Trump Locations: New York, Nevada, Reno , Nevada, Reno

The 93-year-old billionaire’s legal effort to rewrite the terms of an irrevocable family trust will remain confidential, a Nevada judge ruled Thursday. The judge rejected a petition from a coalition of major news organizations seeking to make the court proceedings public. The case has drawn intense interest from power players in the overlapping worlds of media, entertainment and politics. Murdoch is one of the most influential press barons of the modern age and his family owns prized assets such as Fox News and The Wall Street Journal. The family feud has been shrouded in secrecy because all of the case filings are under seal.

Persons: Rupert Murdoch’s, Murdoch, ” Murdoch, Lachlan, — James, Elisabeth, Prudence —, Lachlan Murdoch, James Murdoch, Kamala Harris ’, ”, Rupert Murdoch, “ Organizations: Court, Fox News, Street, HBO, The New York Times, NBC News, Fox Corp, News Corp, Federal, Commission, Democratic, The, The Times, Associated Press, CNN, National Public Radio, Reuters, The Washington Locations: Nevada, Reno

☆ Why the Murdoch family is secretly battling over succession in an obscure Nevada court
▼ + stars: | 2024-09-12 | by ( Hadas Gold | ) edition.cnn.com time to read: +8 min

Last year, Falconi successfully petitioned the Nevada Supreme Court, which ruled that the public has a constitutional right to access Family Court cases. While the court is scheduled to hold evidentiary hearings next week, a decision from the court on media access could come at any time. If a judge does agree to unseal the case, it could have major ripple effects for Nevada family courts. Some have argued that sealing family court cases helps protect the privacy of vulnerable people. Falconi is not working with the media coalition, but said he hopes the national media attention on the Murdoch case will tangentially help his mission.

Persons: Rupert Murdoch, ”, Murdoch’s, — Lachlan, James, Elisabeth, Prudence, Murdoch, Lachlan, James Murdoch, Kamala Harris, Elisabeth Murdoch, Alex Falconi, Falconi, St James, Victoria Jones, ” Falconi, “, “ Doe, Rupert Murdoch “, —, “ They’re Organizations: New, New York CNN, HBO, Fox Corporation, News Corporation, CNN, New York Times, Fox, News Corp, Street, New York Post, Silver State, Nevada, American Civil Liberties Union, Spencer, The New York Times, National Public Radio, Nevada Supreme, News Locations: New York, Reno , Nevada, Australia, Nevada, Washoe, “ Nevada, London

☆ I stayed in a $290-a-night tiny home on an island 5 miles from Singapore. It was smaller than a parking space.
▼ + stars: | 2024-09-09 | by ( Erin Liam | ) www.businessinsider.com time to read: +10 min

During my three-day visit in August, I stayed at a tiny home by Tiny Away for one night. AdvertisementLaunched by a Singaporean tiny home startup called Big Tiny in May 2023, Tiny Away features five tiny houses that measure around 139 square feet each — or slightly smaller than an average parking space. Tiny Away is currently the only option for those who want to try tiny house living without going abroad. For one, there's a glamping resort on Lazarus Island that offers stays for a similar price to Tiny Away. But Tiny Away strikes me as ideal for guests looking for some solitude or a chance to experience the city-state minus all the high rises.

Persons: —, I'd, Tiny, Adrian Chia, Big Tiny, Erin Liam, Chia, cocker, Lazarus, Prudence Lai Organizations: Service, Business Locations: Singapore, New York City, Lazarus, Southern, Sentosa, Singapore's

Murdoch is one of the most powerful and influential media titans of the modern age. The palace intrigue inside the Murdoch family has often lent itself to breathless public fascination, inspiring the HBO series “Succession” and behind-the-scenes books. The family is divided partly by differences in political opinion — and how those beliefs could shape the future of its sprawling media empire. Lachlan Murdoch, who took over as chairman of Fox Corp. and News Corp. last September, tends to be more aligned with his father’s conservative worldview. James Murdoch, Elisabeth Murdoch and Prudence Murdoch are believed to be more politically moderate.

Persons: Rupert Murdoch’s, Murdoch, Lachlan, — James, Elisabeth, Prudence —, Alicia L, Gary A, Adam Streisand, Donald Trump, ”, Lachlan Murdoch, James Murdoch, Elisabeth Murdoch, Prudence Murdoch, Kamala Harris ’, “ Rupert Murdoch, Reece Peck, “ Organizations: Fox News, Street, NBC News, The New York Times, Fox Corp, News Corp, Federal, Commission, Democratic, The, The Times, Fox, Trump, Dominion Voting Systems, City University of New York, College of Staten Locations: Washoe, Reno , Nevada, Reno, American, College of Staten Island

☆ Murdoch family battle highlights Nevada's secret trust boom
▼ + stars: | 2024-08-13 | by ( Robert Frank | ) www.nbcnews.com time to read: +6 min

The Murdoch family feud taking place in an obscure Nevada court highlights the state’s surging popularity as a global center of family trusts and a friendly home to the world’s biggest fortunes. The Western state’s fast-growing industry of trust and estate attorneys, trust companies and facilitators keeps a deliberately low profile. At the center of the Murdoch case is the Murdoch Family Trust, which holds the powerful voting shares in News Corp. and Fox Corp. that effectively control the companies. (The trust also contains the family farm in Australia, the Murdoch art collection and its Disney shares.) “Normally a family would have some ties in Nevada to establish trust, either living here or having real estate,” Tyrell said.

Persons: Murdoch, ”, Steven Oshins, ” Oshins, Thomas Piketty, Emmanuel Saez, Gabriel Zucman, Rupert Murdoch, Lachlan, James, Elisabeth, Prudence, it’s, Rupert, Elyse Tyrell, Tyrell Law PLLC, Rupert Murdoch —, It’s, ” Tyrell, “ Organizations: IRS, Division, Trust, News Corp, Fox Corp, Disney, The New York Times, Street Journal, Fox, Henderson , Nevada . Trust Locations: Nevada, “ Nevada, South Dakota, Tennessee , Delaware, U.S, Australia, Henderson , Nevada

☆ Opinion | My Travel Tips for Seeing the World’s Best Places
▼ + stars: | 2024-08-10 | by ( Nicholas Kristof | ) www.nytimes.com time to read: +2 min

’Tis the season for vacations, so let me make my pitch that the best travel is not lounging at a beach resort but rather journeying into a different world. So I preach both travel and prudence, and on a recent book tour, I found myself often asked about travel advice I had mentioned in my memoir. The most memorable travel often involves encountering something unfamiliar, so consider escaping the herds parading through Paris. A teenager from an affluent family in the New York or Boston areas would step into a different world by taking a ranch job in Wyoming. And this is the kind of travel that is not only affordable but actually pays for the experience.

Persons: Mark Twain, Spencer Cohen, I’ll Organizations: The Times Locations: Japan, Asia, U.S, Paris, Indonesia, Ghana, India, Nepal, Vietnam, Morocco, Bolivia, Europe, America, Indonesia’s Borneo, United States, New York, Boston, Wyoming

☆ Inside the ‘Shakespearean Drama’ of the Murdoch Family
▼ + stars: | 2024-08-03 | by ( John Otis | ) www.nytimes.com time to read: +1 min

“That was a sign to ‘Murdoch watchers’ that something was up,” said Jim Rutenberg, a New York Times reporter who broke the news about Mr. Murdoch’s engagement. Mr. Rutenberg, who writes about politics and culture, has long reported on the Murdoch family. In 2019, he and Jonathan Mahler wrote an exhaustive article for The Times Magazine about the Murdochs’ sprawling media empire and its global influence. “That, for better or worse, sort of cemented us as the experts on this family,” said Mr. Mahler, who covers various topics for the magazine, including politics and entertainment. The outcome will determine who will have control of the empire after Mr. Murdoch’s death.

Persons: Rupert Murdoch, James, Elisabeth, Prudence, “, ‘ Murdoch, ”, Jim Rutenberg, Rutenberg, Murdoch, Jonathan Mahler, Mahler, Lachlan Organizations: New York Times, The Times Magazine

☆ Secret family battle for Murdoch empire revealed in sealed court documents: NYT
▼ + stars: | 2024-07-25 | by ( Jessie Yeung | ) edition.cnn.com time to read: +5 min

CNN —The Murdoch family, famous for helming one of the world’s most influential news empires, is locked in a secret court battle over succession and control, according to a New York Times report citing sealed court documents. By granting control to only Lachlan, Murdoch is arguing in court, he is protecting the companies’ value – which then benefits all his heirs, according to The Times. He began learning the family business at a young age and rose quickly through the ranks. Rupert Murdoch with his sons Lachlan (left) and James (right) attending his wedding to Jerry Hall in London on March 5, 2016. While apparently considered the most similar to Rupert, Elisabeth has struggled to advance in the family business.

Persons: Murdoch, Rupert Murdoch, ”, Rupert Murdoch’s, – Lachlan, James, Elisabeth, Prudence –, Lachlan, –, Prudence, Jerry Hall, Max Mumby, James –, Joe Biden’s, Kathryn, Rupert, Logan Roy, Jim Rutenberg, ” Rutenberg Organizations: CNN, New York Times, Fox Corporation, News Corporation, Street, New, New York Post, Forbes, Fox Corp, News Corp, The Times, Times, Lachlan, Fox News, Democratic, Republican Party, Disney Locations: New York, London, Australia, “

An “irrevocable” trust? Rupert Murdoch is showing yet again that real life can be more fascinating than fiction. It’s about control of a global media business with extraordinary political power, one that’s still trying to preserve its influence in America and elsewhere. The context: When Murdoch dies, control of the family’s companies, including the broadcaster Fox and the newspaper publisher News Corp, will be shared among his four eldest children via the trust. Under the arrangement, Prudence, Lachlan, James and Elisabeth will each get an equal say in how the businesses are run.

Persons: Rupert Murdoch, —, Jim Rutenberg, Jonathan Mahler, isn’t, Murdoch, Prudence, Lachlan, James, Elisabeth Organizations: Fox, News Corp Locations: Nevada, America

☆ Rupert Murdoch's succession plans just got a lot more like 'Succession'
▼ + stars: | 2024-07-25 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewAn intrafamily battle that could have been pulled straight out of the page of Jesse Armstrong's "Succession" has been playing out behind the scenes for the future of Rupert Murdoch's vast media empire. Lachlan, who is sometimes seen as a parallel to Roman Roy, as Business Insider's Madeline Berg reported, would likely preserve the political leanings of the media empire once he takes over. AdvertisementMurdoch's decision to give Lachlan control of his media empire has left the patriarch estranged from his three eldest children, according to the Times. None of the three children attended Murdoch's wedding to Elena Zhukova in June at his California vineyard, according to the Times report. Elisabeth left the media empire years ago in 2000, while Prudence is said to be the least involved in the business.

Persons: —, Jesse Armstrong's, Rupert Murdoch's, Rupert Murdoch, Lachlan Murdoch, Lachlan, — James, Elisabeth, Prudence —, Rupert, Roman Roy, Madeline Berg, James, Prudence, Murdoch, Elena Zhukova, Donald Trump Organizations: Service, Fox, News Corp, Fox News, Street Journal, The New, The New York Post, Business, The New York Times, Times, New Yorker Locations: The New York, Reno , Nevada, Nevada, California

☆ The Secret Battle for the Future of the Murdoch Empire
▼ + stars: | 2024-07-24 | by ( Jim Rutenberg | Jonathan Mahler | ) www.nytimes.com time to read: +1 min

Rupert Murdoch is locked in a secret legal battle against three of his children over the future of the family’s media empire, as he moves to preserve it as a conservative political force after his death, according to a sealed court document obtained by The New York Times. Mr. Murdoch, 93, set the drama in motion late last year, when he made a surprise move to change the terms of the Murdochs’ irrevocable family trust to ensure that his eldest son and chosen successor, Lachlan, would remain in charge of his vast collection of television networks and newspapers. The trust currently hands control of the family business to the four oldest children when Mr. Murdoch dies. Those three siblings — James, Elisabeth and Prudence — were caught completely off-guard by their father’s effort to rewrite what was supposed to be an inviolable trust and have united to stop him. Remarkably, the ensuing battle has been playing out entirely out of public view.

Persons: Rupert Murdoch, Murdoch, Lachlan, — James, Elisabeth, Prudence — Organizations: The New York Times

☆ Modi's government pledges fiscal prudence in India's post-election budget
▼ + stars: | 2024-07-23 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +4 min

Nirmala Sitharaman, India's finance minister, leaves the ministry to present the budget at the parliament in New Delhi, India, on July 23, 2024. India's finance ministry on Tuesday lowered the country's fiscal deficit target to 4.9% for the financial year ending March 2025, a revision from 5.1% during the pre-election interim budget published back in February. That target will then fall to 4.5% or lower for the financial year ending March 2026, India's Finance Minister Nirmala Sitharaman said during the announcements. "This is imperative for attracting foreign investment and sustaining growth," he said, adding that "unprecedented financial support" from the central bank will make the fiscal deficit target possible. "We will endeavor to maintain strong fiscal support for infrastructure over the next five years, in conjunction with imperatives of other priorities and fiscal consolidation."

Persons: Nirmala Sitharaman, Vipul Bhowar, Narendra Modi's, Sitharaman, Hajra, Anand Rathi, Modi's Organizations: Bloomberg, Getty, India's, Waterfield Advisors, Sitharaman, Narendra Modi's Bharatiya Janata Party, Stock Brokers, CNBC, Modi's Bharatiya Janata Party, Centre, Monitoring, BSE, U.S . Locations: New Delhi, India, Mumbai, Bihar, Andhra Pradesh

☆ I'm a millionaire, but I'm only leaving my kids a small inheritance. I want them to earn their money like I did.
▼ + stars: | 2024-07-21 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

I want my daughter to experience financial discomfortAbout 20 years ago, I met my wife, another Baha'i from Iran. I believe wealth is only commendable if earnedMost importantly, I want my daughters to work. While I plan to leave my daughters a small inheritance to ensure their financial security, I won't leave them enough money that they don't need to work. I want my children to have enough money to house themselves, get an education, and meet their basic needs. Beyond that, I believe money can corrupt if it's given rather than earned.

Persons: Payam Zamani, we'd, Zamani, I've, they'll Organizations: Service, Business, Group Locations: Iran, Pakistan, San Francisco, San Francisco Bay, America, Czech Republic, Prague, California, New York City, Bay

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