Author: News Room

Former President Donald Trump said he was going to hold a “press conference” on Friday in the wake of his Thursday conviction in Manhattan on felony charges of falsifying business records. Instead, Trump delivered a rambling monologue that was filled with false claims on subjects ranging from the Manhattan trial to immigration to tax policy. Here is a fact check of some of the inaccurate or unsubstantiated claims related to his trial. Crime in New York City Trump repeated his familiar claim that, while Manhattan prosecutors have been focusing on him, New York City has been experiencing record-high violent crime.…

Looking for Thursday’s Wordle hints, clues and answer? You can find them here: I was writing my Strands guide earlier and it made me think of the upcoming cinematic adaptation of Wicked, which has this fantastic trailer I want to share with everyone in case you haven’t seen it: If you haven’t yet, do read the novel by Gregory Maguire. The entire series is fantastic, but the first book is incredible. I’ve seen the (off) Broadway musical and while I enjoyed it a great deal, it doesn’t capture everything from the books, which are darker and more cynical. Another recommendation…

When you give stock to loved ones at below the price you bought it, can they sell it and claim a tax loss? What about other tax considerations for gifts of assets? Bruce Bell, an attorney at the Chicago office of Schoenberg Finkel Beederman Bell Glazer, provides some guidance. Larry Light: Let’s say I am contemplating giving to my daughter stock or other property that has decreased in value below my purchase price. Is my daughter entitled to a tax loss if she sells the property? Bruce Bell: The unrealized loss existing at the time of the gift cannot be…

In a post Thursday evening on X, venture capitalist Shaun Maguire revealed his support for Trump, noting “the timing isn’t a coincidence” as he announced a $300,000 donation to the presumptive Republican candidate.”Bluntly, that’s part of why I’m supporting him,” Maguire, a partner at Sequoia Capital, wrote on X about a potential conviction. “I believe our justice system is being weaponized against him.”He wasn’t the only prominent business leader who seemed fired up.Tech investor David Sacks, who was reportedly in talks to hold a Trump campaign fundraiser at his San Francisco home, denounced the guilty verdict on X.”A sham trial…

Bill Ackman is aiming to take Pershing Square public as soon as next year, the WSJ reports.Ackman aims to secure funding by first selling a stake in his firm, the Journal reported.It would be an unusual move for a hedge fund. Billionaire Bill Ackman is planning to take his investment firm Pershing Square public, according to a new report in The Wall Street Journal.But first, Ackman intends to drum up some funding by selling a stake in his firm to investors in a deal that’s expected to close very soon, people familiar with the matter told the WSJ. This story…

By Diego Oré MEXICO CITY (Reuters) – When Claudia Sheinbaum – the frontrunner to become Mexico’s next president – was just six years old, her parents were active participants in protests during one of the darkest periods of the country’s modern history. It was 1968, the Institutional Revolutionary Party had governed Mexico with an iron fist for decades and the country was swept by large demonstrations pressing for democratic change. In one horrific incident, as many as 400 students at a protest were killed by soldiers and paramilitary forces. The tragedy only galvanized her parents and Sheinbaum grew up in…

Ulta Beauty, Inc. (NASDAQ:) reported a 3.5% increase in net sales reaching $2.7 billion in the first quarter of 2024, with comparable sales growing by 1.6%. Despite a challenging environment, the company showed resilience with an operating profit of 14.7% of sales and a diluted earnings per share (EPS) of $6.47. Adjusting expectations for the year, Ulta Beauty aims to maintain its market leadership through enhanced strategies and expects the beauty category to grow in the mid-single-digit range.Key TakeawaysUlta Beauty’s net sales rose to $2.7 billion, a 3.5% increase, with comparable sales up by 1.6%.Operating profit reached 14.7% of sales,…

The Affordable Connectivity Program, which helped low-income Americans get online, is no more. On Friday, the US government announced the final closure of the broadly popular federal program, which has helped tens of millions of households afford internet service, after Republicans in Congress ignored calls by consumer advocates and Democratic lawmakers to approve more funding this spring. The program’s lapse threatens to throw nearly 60 million Americans into financial distress, CNN has reported. The program officially ends on June 1, said the Federal Communications Commission, which administered the Affordable Connectivity Program (ACP) to approximately 1 in 5 households across the country and on…

EUR/USD recovers strongly as Eurozone inflation turns out hotter-than-expected. Eurozone annual headline and core HICP rose strongly by 2.6% and 2.9%, respectively US monthly core PCE inflation for April grew at a slower pace of 0.2%. EUR/USD jumps to 1.0880 in Friday’s New York session. The major currency pair strengthens on hot annual preliminary Eurozone Harmonized Index of Consumer Prices (HICP) for May and a decline in monthly United States (US) core Personal Consumption Expenditure Price Index (PCE) data for April. The Eurostat reported that annual preliminary Eurozone Harmonized Index of Consumer Prices (HICP) data grew at a faster pace than expected in May. Headline HICP rose…

Polygon (MATIC) price fell to a new weekly-low of $0.69 on Friday May 31, on-chain data analysis reveals the pivotal role that whale investors have played in the ongoing downtrend. MATIC price is down 9% Since Ethereum ETF Approval Founded in 2018, Polygon (MATIC) was tipped to become the quintessential “Ethereum killer,” offering superior scalability and lower fees compared to the ETH network. However, recent updates on the Ethereum network in the last few years, including the Proof-of-Stake transition, have lowered fees on the beacon chain. These updates and the proliferation of new Layer-2 networks like Base and Arbitron (ARB)…