Microsoft’s stock reached a historic high on Monday as the company announced the appointment of Sam Altman, former CEO of OpenAI, to lead its artificial intelligence (AI) innovation division. The share price surged by 2.1%, closing at an all-time high of $377.44, surpassing the previous record of $376.17. Altman’s Resurgence Following OpenAI Ousting The rally…
In a pivotal development for the cryptocurrency industry, billionaire Changpeng Zhao and Binance, the leading cryptocurrency exchange, have pleaded guilty to federal charges. This coordinated settlement involves over $4 billion in fines and penalties and stands as the largest-ever corporate resolution with criminal charges against an executive. Guilty Plea and Historic Settlement: Changpeng Zhao, founder…
Argentina ‘s presidential election saw Javier Milei’s La Libertad Avanza coalition winning with nearly 56% of the vote. The self-declared “anarcho-capitalist” plans drastic economic reforms and a shift to the US dollar. However, doubts linger on the feasibility of his radical agenda. Election Triumph and Radical Promises In a surprising turn of events, Javier Milei’s…
In an unexpected turn of events, the U.S. government printed a staggering 756,096,000 $50 bills in 2022, marking the highest annual total in over four decades. This surge in production raises intriguing questions about the factors driving this unusual spike and its implications for currency circulation. The Uncommon $50 Bills: Traditionally an uncommon and somewhat…
Edgar Bronfman, Jr., a prominent private equity executive and scion of the Seagram family, has added his voice to a growing chorus of business leaders demanding a change in leadership at the University of Pennsylvania (UPenn). Bronfman’s call for UPenn President Liz Magill and Chairman Scott Bok to step down is linked to their response…
The Federal Reserve faces a concerning sign as inflation expectations among Americans are on the rise, hitting their highest level since 2011. The erosion of trust in inflation’s return to normal levels is worrisome for the Fed, especially given their projections that inflation won’t reach 2% until 2026. A crucial indicator for the Fed, long-term…
Bond yields have been a crucial factor in the Federal Reserve’s strategy to manage inflation, but their recent surge has created both challenges and opportunities for the central bank and investors. The rapid increase in long-term US Treasury yields over the past few months has created headaches for investors, dragging down the value of many…
In a significant turn of events, a ransomware strike targeted the US unit of China’s Industrial and Commercial Bank, causing a brief market dip, emphasizing the vulnerability of even the most robust companies. This immediately drew the attention of regulators and officials in the US and China, triggering extensive coordination across the financial sector to…
The Internal Revenue Service (IRS) recently unveiled the inflation-adjusted income tax brackets and standard deduction figures for the tax year 2024. While these adjustments typically occur annually, influencing the tax returns that most Americans file in early 2025, they often receive less attention than the impact they have on tax liabilities. These changes offer more…
Internal communications unveiled in an ongoing lawsuit against Meta reveal that CEO Mark Zuckerberg repeatedly overruled efforts to enhance the well-being of teenagers using Facebook and Instagram. These disclosures highlight the significant influence Zuckerberg wields over company decisions and his resistance to addressing concerns about the impact of these platforms on teenagers’ mental health. The…