Donald Trump Jr., Ivanka Trump and Eric Trump are set to appear in court this week to testify in the civil fraud trial against their father, former President Donald Trump, and the Trump Organization. New York Attorney General Letitia James has claimed that the Trump children were aware of and knowingly participated in a scheme to inflate the value of the Trump Organization's assets. Senior legal analyst Elie Honig explains that the Trump children could be "damned if they do and damned if they don't" when it comes to taking the Fifth Amendment. The $250 million civil fraud trial is set to begin Monday and could have major implications for the Trump family and the Trump Organization.
Posts published in “Financial”
The Education Department has released a new plan to provide debt relief to four groups of borrowers with federal student loans, estimated to be up to 12 million people. The proposal is open for public comment and will be finalized after a period of review, with details on implementation and when it will take effect yet to be released.
Key takeaways: The UAW’s strategy of negotiating and striking at all three automakers simultaneously appears to have paid off. The agreement between the UAW and…
After six weeks of striking, the United Auto Workers (UAW) and General Motors (GM) have reached a tentative agreement on a new labor contract, featuring a 25% wage increase across a four-and-a-half year deal with cost of living adjustments. The agreement still needs ratification from the union's national council and a majority of members, and if approved, employees will return to work at some point in November. The strike has cost GM an estimated $2 billion in lost profits and has affected more than 50,000 workers.
This Halloween season, candy and gum prices have risen 13%, more than double the 6% increase in all grocery prices. This marks the second year in a row of double-digit inflation in the candy aisle. Small business owner Jessica Weathers expressed her frustration with the rising prices, and shoppers are advised to be mindful of their budget when buying candy.
The United Auto Workers (UAW) union has reached a tentative contract agreement with Stellantis, the union announced Saturday, edging closer to ending a 6-week strike that has dented Detroit's Big 3 automakers and idled thousands of their employees. The agreement includes a $9,000 ratification bonus, a 3% wage increase in the first and third years of the contract, and a 4% lump-sum bonus in the second and fourth years. UAW President Shawn Fain said the strike “is working” but “we’re not there yet.” General Motors is the only remaining automaker without a contract with the union.
A report released by Democratic members of the Senate Finance Committee has found that Supreme Court Justice Clarence Thomas had not repaid the full amount of a $267,230 loan he had taken out to purchase an RV in 1999. The report has raised further questions about Thomas’s ethics and financial dealings, and the committee is continuing to investigate and has requested additional documents from Thomas and his friend who had lent him the money. It is unclear whether Thomas has taken out any other loans or accepted any other gifts that he has not disclosed.
The United Auto Workers union and Ford have reached a tentative agreement in principle, which could signal the end of the nearly six-week strike with the Big Three automaker. The agreement includes a 25% general wage increase over the life of a new four-year contract, with cost-of-living pay increases potentially lifting the total pay raises above 30%. Ratification of the agreement with all three automakers is needed before the strike can officially end, and the estimated $2 billion in lost production can be recovered.