New York Attorney General Letitia James' office has alleged that former President Donald Trump routinely overstated his personal net worth to financial institutions by up to $2.2 billion each year between 2011 and 2021. The lawsuit, filed in October 2020, seeks $250 million in damages from Trump, his three eldest children, and the Trump Organization, and the filing seeks to have the court declare that Trump and his company violated New York's civil and business laws. The case is scheduled for trial in October, with the outcome potentially having major implications for the former president and his family.
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UPS workers have ratified a new five-year contract, avoiding a strike and securing higher wages and improved safety measures. The agreement, which covers 340,000 UPS employees, will create more full-time jobs and provide air-conditioning in new trucks, with UPS drivers earning an average of $170,000 in annual pay and benefits by the end of the contract. The vote was the highest share in favor of a contract in the history of the Teamsters at UPS.
Key takeaways: The three countries agreed to hold trilateral meetings between leaders, foreign ministers, defense ministers, and national security advisers at least annually. The agreement…
Sen. Dianne Feinstein (D-Calif.) has filed a lawsuit against the trustees of a trust established by her late husband, alleging financial elder abuse. The suit was filed by Feinstein's daughter, Katherine Feinstein, who was given a limited durable power of attorney in July. The lawsuit seeks to remove the trustees and to receive the millions of dollars Feinstein is due from the trust. Feinstein, who is 90 years old, has taken a series of legal actions in recent years to protect her financial interests. The lawsuit is ongoing and it is unclear when a resolution may be reached.
Target, a Minneapolis-based retailer, has lowered its profit and sales expectations for the year due to economic issues such as higher interest rates, higher prices on food, and the resumption of student loan payments this fall. Sales at stores open at the same time a year ago declined 5.4% in the second quarter, and profit came in above expectations. Other retailers are also feeling the strain of the current economic climate, and it remains to be seen how these issues will affect the retail industry in the long run.
Key takeaways: Retail sales in China have seen a 10.6% increase in March from the same period last year. Urban unemployment rate for people aged…
Sam Bankman-Fried, a 31-year-old former billionaire, is being investigated by the U.S. Department of Justice for allegedly using money stolen from customers of his FTX cryptocurrency exchange to make more than $100 million in political campaign contributions before the 2022 U.S. midterm elections. The news has caused a stir in the cryptocurrency industry, raising questions about the influence of money in politics and the need for greater transparency in political donations. The outcome of the investigation is yet to be seen, but it is clear that the allegations against Bankman-Fried have raised serious concerns.
Billy Porter, known for his roles in "Pose" and "Cinderella", has revealed that he is facing financial difficulties due to the ongoing Hollywood strikes, and has been forced to put his house on the market. Porter said that most people misunderstand actors' wealth and don't realize the financial impact of the strikes, and that he was relying on income from projects that have been put on hold. He also said that some people are oversimplifying the situation, and that the strikes are having a real financial impact on actors.