Author: Press Room

Last updated: May 2, 2024 11:10 EDT | 2 min read Senator Cynthia Lummis (R-WY) criticized the U.S. Department of Justice (DOJ) on Wednesday for its controversial stance on self-custody wallets after unlicensed money-transmitting charges were brought against crypto mixers Tornado Cash and Samourai Wallet.“I am deeply troubled by the Department of Justice’s hyper-aggressive argument that non-custodial software can constitute a money transmission service,” Lummis Tweeted. “This stance contradicts existing Treasury guidance, common sense and violates the rule of law.”Cynthia Lummis Slams DOJ Over Self-Custody Wallet Controversy I am deeply concerned by the Biden administration criminalizing core tenants of the Bitcoin…

WorldQuant has a few mantras.The new-age website of the $9 billion quant manager run by Igor Tulchinsky features several, such as “information is opportunity” and “quantity is quality,” though these sayings can mostly be applied to any systematic trading shop.Where the Connecticut-based manager sets itself a part from peers and rivals is with its talent strategy. “Talent is global, opportunity is not,” the website states.While plenty of firms proclaim they search worldwide for the top minds, it’s hard to argue that anyone has more of a global team than WorldQuant. It boasts 26 offices around the world and thousands of…

Labels in a “nutrition facts” format for internet plans are finally a reality.As of Wednesday, the FCC requires internet providers to break down costs and services for customers. The FCC says the move should encourage competition and help consumers take charge of their services.  Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app If you’ve ever had trouble figuring out exactly what fees your internet provider is charging you and what internet speed you’re actually getting, the Federal Communications Commission has your back.The FCC is now requiring internet providers to give customers…

Park Hotels & Resorts Inc. (NYSE:PK) Q1 2024 Results Conference Call May 1, 2024 11:00 AM ET Company Participants Ian Weissman – Senior Vice President, Corporate StrategyTom Baltimore – Chairman, President & CEOSean Dell’Orto – Chief Financial Officer & Treasurer Conference Call Participants Floris Van Dijkum – Compass PointSmedes Rose – CitibankDuane Pfennigwerth – Evercore ISIChris Woronka – Deutsche BankAnthony Powell – BarclaysDavid Katz – JefferiesStephen Grambling – Morgan StanleyBill Crow – Raymond JamesDori Kesten – Wells FargoJay Kornreich – Wedbush SecuritiesRyan Lambert – JPMorganRobin Farley – UBS Operator Greetings, and welcome to Park Hotels and Resorts, Inc. First Quarter…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Harvey Weinstein will face a new trial in New York as soon as September, as Manhattan prosecutors vowed to once again pursue the disgraced film mogul whose 2020 conviction for sex crimes and rape was overturned last week.In a surprise decision, the state’s highest court had quashed Weinstein’s original conviction after concluding that testimony of alleged sexual assault given by three women who were not part of the case may have unlawfully swayed the jury. Weinstein had been sentenced to 23 years…

As protests and attempts to quell them spread from New York to Los Angeles and many states in between, President Joe Biden finds himself caught in a series of political and diplomatic crosscurrents without an easy solution. He is opposed to lawlessness and the takeover of campus buildings and has strongly condemned dark instances of antisemitism. But he is also mindful of students’ right to protest, even when the anger is directed at his own policies toward Israel. At the same time, he is navigating a highly sensitive moment in the Gaza war, as officials pursue a fresh proposal to…

The IRS is mailing compliance letters, known as CP59 notices, “on more than 125,000 cases where tax returns haven’t been filed since 2017.” According to the IRS, the mailings are being sent to more than 25,000 people who have more than $1 million in income between tax years 2017 and 2021, and to more than 100,000 people who have incomes between $400,000 and $1 million during that time span. The common factor for these cases? They involve the IRS receiving “third-party information” — for example, W-2 and 1099 forms — that indicated “these people received income in these ranges but…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.000% as of April 1, which is unchanged from Friday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.000%, which is also unchanged from Friday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying…

The amount Americans believe they will need to retire comfortably has increased faster than inflation, but what they are saving has dropped, a recent survey said.  U.S. adults believe they will need at least $1.46 million to retire in style, according to a Northwestern Mutual survey. This figure is up 15% from the $1.27 million Americans said they needed last year. In 2020, survey respondents thought having $951,000 stashed away would provide a good enough cushion.  At the same time, the average amount Americans have saved for retirement dropped to $88,400 from $89,300 in 2023, and is more than $10,000 off its…

Federal Reserve leaves interest rates unchangedCentral bank policymakers held steady on interest rates at the conclusion of their meeting, a move that was widely expected by the markets.The fed funds target rate remains at its 5.25% to 5.5% range.— Darla MercadoMarkets before the Fed’s policy decision announcementThe S&P 500 and the Nasdaq Composite were each down about 0.2% as the Federal Reserve prepares for its rate decision. The Dow Jones Industrial Average was higher by roughly 130 points, or 0.3%.The yield on the 2-year Treasury was lower by about 3 basis points at 5.012%, while the rate on the 10-year…