The auditor of Donald Trump’s Trump Media has been charged with “massive fraud” by the Securities and Exchange Commission (SEC), which says the company “undermined trust and confidence in our markets.” Audit firm BF Borgers has agreed to pay a $12 million civil penalty to settle the charges. And the company’s owner, Benjamin F. Borgers, will pay a separate $2 million civil penalty. Both have also been permanently suspended from acting as accountants before the SEC moving forward. “Ben Borgers and his audit firm, BF Borgers, were responsible for one of the largest wholesale failures by gatekeepers in our financial…
Author: insighter
Despite what most coming-of-age movies might say, college isn’t always just about debating the afterlife while fueling yourself on a diet of cheap beer and late night pizza (or Ramen, depending on the day). Higher education has become an increasingly well-trod and pressured path, as a lack of degree can be a barrier of entry for some careers, especially due to stigma in certain sectors. Even so, it seems as if this promise of career growth sometimes comes at an initial cost. New research from insurance company Northwestern Mutual as conducted by The Harris Poll shows as much. Surveying more…
Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. David A. Grogan | CNBC Berkshire Hathaway, led by legendary investor Warren Buffett, has been making a confidential wager on the financial industry since the third quarter of last year. The identity of the stock — or stocks — that Berkshire has been snapping up could be revealed Saturday at the company’s annual shareholder meeting in Omaha, Nebraska. That’s because unless Berkshire has been granted confidential treatment on the investment for a third quarter in a row, the stake will be disclosed in filings later…
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The typical family office costs more than $3 million a year to operate, as competition for talent drives up staffing expenses, according to a new study. Wealthy families are spending anywhere from $1 million to more than $10 million a year to operate their family offices, with the average now at around $3.2 million, according to the J.P. Morgan Private Bank Global Family Office Report released this week.…
Yes, some credit unions do offer student loans. However, your mileage may vary when it comes to your local credit union. Student loans are niche lending products for credit unions, and some of the largest credit unions will offer both private student loans and student loan refinancing. There are also organizations like CU Select, which matches prospective borrowers with credit unions that offer student loans. They work with a network of 225+ credit unions to help match you with one that can offer you a student loan that meets you needs. What Are Credit Unions? Credit unions are not-for-profit…
One of the most notable findings from the jobs report released this morning is that job creation has finally slowed down, with employers adding 175,000 jobs in April. The shift comes after a period of steady job growth and low unemployment, exceeding the expectations of economists who had warned that the labor market would eventually cool off. The unemployment rate has now remained under 4% for 27 months, a streak that the U.S. economy has not seen in over 50 years. While the unemployment rate inched up slightly to 3.9%, experts have said there’s no indication that the labor market…
Warren Buffett tours the floor ahead of the Berkshire Hathaway Annual Shareholder’s Meeting in Omaha, NE. David A. Grogan | CNBC When Warren Buffett kicks off Berkshire Hathaway’s annual shareholder meeting on Saturday, the absence of Charlie Munger will be on everyone’s mind. Some 30,000 rapt shareholders are descending on Omaha for what’s been called “Woodstock for Capitalists.” Pandemic lockdown apart, it will be the first without Munger, Buffett’s longtime partner who passed away in November about a month shy of his 100th birthday. “The meeting will only have one comedian up there” this year, said David Kass, a finance…
The stigma that comes with having been in prison is difficult to overcome because it is both internal and external. My daily mantra reminds me that I am worthy and deserving of all good things, especially a way to feed myself and my family that allows us choices and freedom. I remind myself that just because I was indicted does not mean I should spend the rest of my life repaying a debt that society says I owe. Some days my internal pep talks are difficult because there is the ever present and subconscious stain on my reputation. Before going…
A logo outside a Societe Generale SA office building in central Paris, France, on Monday, Feb. 5, 2024. Bloomberg | Bloomberg | Getty Images A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a “scapegoat” and failing to take its share of responsibility for missing the trades. Kavish Kataria, who was dismissed from the bank’s Delta One desk last year, said the profits and losses on his trades were reported on a daily basis to superiors on his Hong Kong team as well as those in the Paris head…
Enjoy 6.5% cash back on travel purchased through Chase Travel; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
Fletcher Medler, a student at Berklee College of Music, is enrolled in “The General Business Gig,” a course dedicated to teaching musicians how to survive in the gig economy. Medler had played a few professional gigs, but he knew he had gaps in his knowledge. “I wanted to hear from someone who has worked in the industry,” he tells Fast Company. The course covers everything from the type of music people want to hear at gigs, to how to budget and purchase equipment, to charging customers. It first ran in 2016 and is application-only. “It’s a constant challenge for many…
The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, raising hopes that the Federal Reserve will be able to cut interest rates in the coming months. Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. Average hourly earnings rose 0.2% from the previous month and 3.9% from a year ago, both below consensus estimates and an encouraging sign for inflation. The jobless…