After an almost four-month strike, SAG-AFTRA members have approved a new three-year contract with Hollywood studios, securing over $1 billion in gains including a 7% pay raise, improved safety protocols, and a new residuals structure for streaming services. The strike, which was the longest in the union's history, has now come to an end, allowing the entertainment industry to move forward and resume production.
Posts published in “Financial”
Key takeaways: The Supreme Court’s decision in Moore v. United States could have far-reaching implications for any future attempts to impose a wealth tax on…
Rep. Patrick McHenry, R-N.C., announced Tuesday that he will not seek re-election in 2024, shocking many of his colleagues. McHenry has served in Congress since 2005 and is the longest-serving Republican from North Carolina, recently gaining national attention when he became the first House Speaker pro tempore in history to be removed in a no-confidence vote. His retirement will further thin the ranks of Republican institutionalists in Congress, leaving many of his colleagues unsure of who will take his place and fill the role of chair of the House Financial Services Committee.
The U.S. Supreme Court heard oral arguments on Wednesday in the case of SEC v. Jarkesy, which could have sweeping consequences for the power of federal agencies to enforce the law. The case centers around the Securities and Exchange Commission's (SEC) ability to take enforcement actions outside of the court system. During the oral arguments, the justices questioned the government lawyer about stripping the SEC of some of its enforcement discretion. The outcome of the case could have a major impact on the power of federal agencies to enforce the law, and a ruling is expected in the coming months.
Binance, the world's largest cryptocurrency exchange, has pleaded guilty to violating U.S. laws to prevent money laundering and sanctions violations, resulting in a $4.3 billion fine and the stepping down of CEO Changpeng Zhao. The Justice Department's investigation into Binance serves as a reminder that cryptocurrency exchanges must comply with U.S. laws and regulations, and the government is willing to take action against companies that fail to do so.
Geoffrey Holt Leaves Behind a Fortune of $2.5 Million to Benefit the Town of Hinsdale, New Hampshire
Geoffrey Holt Leaves Behind a Fortune of $2.5 Million to Benefit the Town of Hinsdale, New Hampshire
Ed Smith, Holt's best friend and executor of his estate, recently discovered that Holt had amassed a fortune of $2.5 million. Smith has set up a trust through the New Hampshire Charitable Foundation, from which organizations will be able to apply for grants, drawing from the interest, roughly about $150,000 annually. Town administrator Kathryn Lynch has promised to use the money left by Holt "very frugally" as he did.
After a six-week strike, United Auto Workers (UAW) members have ratified new contracts with Ford, General Motors, and Jeep parent company Stellantis. The contracts provide an 11% immediate pay increase and a 25% total pay increase over the 4½-year deal, as well as cost-of-living adjustments, the ability to reach top wages in three years, and the protection of the right to strike. This is a major victory for the UAW and its members, who have shown their commitment to protecting their rights and improving their working conditions.
Jair Bolsonaro, nicknamed “the crazy” and “the wig”, has been elected president of Brazil. His popularity surged due to his hard-line stance on crime and corruption, and his promises to reduce taxes and increase public spending. Supporters are hopeful that his policies will bring economic growth and stability to Brazil, while critics are concerned about his views on human rights and the environment.