Florida Gov. Ron DeSantis is calling for a review of the state's pension fund holdings in Anheuser-Busch InBev, Bud Light's parent company, after a promotion with transgender influencer Dylan Mulvaney sparked a boycott from some conservatives. DeSantis is concerned that the Florida State Board of Administration may have breached legal duties owed to its shareholders and is considering all options to protect the SBA and retirees, including a possible shareholder action. He is also looking to ensure that the pension funds of Florida's hardworking law enforcement officers, firefighters, and first responders are managed prudently and not used to subsidize an ideological agenda.
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The NFL owners have unanimously approved the sale of the Washington Commanders to a group led by Josh Harris and Magic Johnson for a record-breaking $6.05 billion. Dallas Cowboys owner Jerry Jones expressed his excitement for the new ownership group and the potential for the team to reach new heights. The agreement is set to take effect before the 2023 season begins, and the Washington Commanders are expected to enter a new era of success and growth.
Taco Bell has won a major victory in its quest to make “Taco Tuesday” free of trademark restrictions, with Taco John's formally abandoning its decades-old claim to own the phrase in 49 states. Taco Bell's victory means that the phrase “Taco Tuesday” is now free for all to use, a major win for the company and taco lovers everywhere. However, the dispute is still ongoing in New Jersey, where Gregory’s Restaurant & Bar is still fighting Taco Bell over the exclusive right to hold “Taco Tuesday” promotions.
AAA has announced that it will not be renewing some of its auto and home insurance policies in Florida due to the increasing risk of natural disasters and the “unprecedented rise in reinsurance rates”. This decision has left many Florida residents with fewer options for property insurance, and it is likely that more insurers will follow suit in the near future.
An original Apple iPhone from 2007 sold for an astonishing $190,372.80 at auction on Sunday, over 300 times its retail value of $599. The mint-condition mobile phone was put on the auction block by LCG Auctions and bidding soared from $10,000 to almost $200,000 in just 28 bids. The sale is a testament to the enduring popularity of the device, months after another iPhone from 2007 was sold for $63,356.
Biden Administration Announces Plan to Provide Debt Relief to 800,000 Federal Student Loan Borrowers
Biden Administration Announces Plan to Provide Debt Relief to 800,000 Federal Student Loan Borrowers
The Biden administration has announced a plan to provide debt relief to more than 800,000 federal student loan borrowers, with $39 billion in debt being forgiven after 20 or 25 years of payments. The Department of Education is also reviewing accounts of borrowers who may have been affected and will provide additional debt relief if necessary. Additionally, the Department of Education is working on improving income-driven repayment plans to reduce student loan payments for those struggling financially.
Alexander Mashinsky, the former CEO of Celsius Network, was arrested on Thursday on federal fraud charges. The Federal Trade Commission (FTC) alleged that Mashinsky misled customers about key aspects of the business and illegally manipulated the price of Celsius’s proprietary crypto token. The company agreed to pay a $4.7 billion settlement with government regulators, one of the largest in the FTC’s history, and the settlement highlights repeated deceptions by Celsius and Mashinsky. The indictment against Mashinsky is a sign that the government is taking a hard line against crypto-related fraud.
US government reported that inflation cooled to its slowest pace in more than two years, with the Consumer Price Index growing at an annual rate of 3%. Core inflation, which strips out volatile food and energy prices, rose 4.8% on an annual basis. The cooling of inflation is seen as a sign that the Federal Reserve's interest rate hikes are having the desired effect, but the Fed will need to continue to monitor inflation closely to ensure it remains at a manageable level.