The exterior of the U.S. Department of Treasury building is seen as they joined other government financial institutions to bail out Silicon Valley Bank’s account holders after it collapsed on March 13, 2023 in Washington, DC.Chip Somodevilla | Getty ImagesChinese state-sponsored hackers broke into the U.S. Treasury Department earlier this month and stole documents from its workstations, according to a letter to lawmakers that was provided to Reuters on Monday.The hackers compromised a third-party cybersecurity service provider and were able to access unclassified documents, the letter said, calling it a “major incident.”According to the letter, hackers “gained access to a…
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ORCHARD PARK, N.Y. — Aaron Rodgers went to the bench after an interception, one that preceded the first unnecessary roughness penalty of his career. He sat down, then he laughed.Record scratch. Freeze frame.“You’re probably wondering how I ended up in this situation.” The ref laughs as he calls a personal foul on Aaron Rodgers for a late hit. pic.twitter.com/eJ1GDzPzD1 — Rate the Refs App (@Rate_the_Refs) December 29, 2024It’s Week 17 and the Jets lost again, a stinker of the highest order. Rodgers’ pick and late hit was one of many lowlights in a game that would get much, much worse…
Financier Bernard Madoff leaves Manhattan Federal court March 10, 2009 in New York City. Madoff attended a hearing regarding the conflicting status of his legal representation in his multi-billion dollar fraud allegations.Chris Hondros | Getty ImagesThe 10th and final distribution from a fund for victims of the late Ponzi scheme king Bernie Madoff began Monday, the Department of Justice said.The last disbursement, of more than $131 million, is being sent to more than 23,000 victims worldwide. When it is completed, more than $4.3 billion will have been distributed by the fund to more than 40,000 victims in nearly 130 countries,…
A hand of high-conviction stock picks from hedge funds and notable investors could be primed to trounce the market in the new year. The financial sector has gained newfound love in the hedge fund community since the election of former President Donald Trump. Professional traders raised their exposure to financial stocks to the largest overweight in at least 15 years, according to Goldman Sachs, which analyzed the holdings of 697 hedge funds with $3 trillion in gross equity positions. LPL Financial Financial service firm LPL Financial stood out as the most concentrated hedge fund long position in the sector with…
SCOTTSDALE, Ariz. — The first time Spencer Danielson watched Boise State football was the first time for a lot of people: the 2007 Fiesta Bowl.Danielson was a senior in high school, watching from Southern California with his father as the Broncos pulled off one of the most preposterous upsets in college football history: the last-ditch hook-and-lateral, the Statue of Liberty handoff in overtime to defeat Oklahoma, running back Ian Johnson’s post-game proposal on one knee.Danielson didn’t know then that he would be hired by that same program as a graduate assistant 10 years later, or that he would be named…
For stock investors the handoff for 2025 is about as good as it gets, but there are significant potential headwinds. Let’s review the state of play going into the new year. Here’s the good news first. Market tailwinds into 2025 First and foremost, there is a still-strong economy, with 3% GDP. Second, record profits are expected for a second year in 2025, and not just from the tech sector. Undervalued sectors like health care and materials and industrials are expected to see profit increases in the high teens. Earnings growth 2025 (estimates) Technology 21% Health Care 20% Industrials 19% Materials…
Israel Sebastian | Moment | Getty ImagesInvestors who hold exchange-traded funds can often escape a tax bill incurred by those with mutual funds, which are generally less tax efficient, according to investment experts.ETFs and mutual funds are baskets of stocks, bonds and other financial assets overseen by professional money managers. But they have a different legal structure that bestows ETFs with a “tax magic that’s unrivaled by mutual funds,” Bryan Armour, the director of passive strategies research for North America and editor of the ETFInvestor newsletter at Morningstar, wrote this year.That tax savings relates to annual capital gains distributions within…
The new year could be another strong one for internet stocks, and BMO Capital Markets picked its favorites for investors looking to capitalize. Analyst Brian Pitz highlighted Amazon as the firm’s top pick for 2025 and named Netflix , Trade Desk and Google parent Alphabet as other well-positioned names in the internet and interactive entertainment space heading forward. “Our top Internet pick this year is Amazon, with a multi-year AI/IT workload shift towards AWS, given its leadership position across the full stack. Retail FCF unlock will continue, given +30% frequency growth and moderated Capex spending for [fulfillment centers],” Pitz said…
Which front office is the best in sports?In 2024, the answer to that question is the Oklahoma City Thunder, followed by the Los Angeles Dodgers and the Baltimore Ravens. At least according to their front-office peers.At the start of each season this year, The Athletic polled 40 executives and coaches in each of the four major leagues — MLB, NBA, NFL and NHL — and asked them to rank the top five front offices, in order, in their respective sport. We polled the same number of executives and coaches (40) each time and used the same scoring system to rank…
