Category: Billions
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Elon Musk’s government cuts could hand billions to private companies
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Eleon Musk’s sweeping cuts to US government agencies raised concerns that private companies – including – can earn billions in new contracts where public services are dismantled. Musk, who played a strong role in the Trump administration, pledged to supervise the reducing the size of federal agencies, on the pretext…
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Treasury intervenes in car finance row as billions in compensation hang in the balance
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The Treasury is seeking to intervene in a major High Court case that could drag Britain’s car finance industry into a costly mis-selling crisis on a par with the notorious PPI scandal. Ministers want the court to consider the wider impact on investor confidence in the UK regulatory system and,…
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Trader Who Made Billions in 2008 Returns to Bet on Market Swings
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(Bloomberg) — A former hedge fund manager whose company made billions during the global financial crisis is ready to pounce on volatility again, seeing threats to market stability at a level not seen since 2008. Most read from Bloomberg Steve Daigle’s family office, Vulpes Investment Management, is seeking up to…
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Finance C’ttee approves billions in last minute 2024 budget transfers
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Among the main transfers approved: 3.63 billion shekels for allocations to the National Insurance Institute, 2.36 billion shekels to the Ministry of Health, and 161 million shekels to local authorities. In a rare overnight debate of the Knesset Finance Committee, a series of major budget transfers were approved on the…
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Car finance crisis set to cost billions and dent investor confidence, warns Lloyds boss
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A worsening car finance crisis could deal a major blow to Britain’s economic prospects, according to the head of the country’s largest retail bank. Charlie Nunn, chief executive of Lloyds Bank, warned that uncertainty caused by the latest court rulings was undermining investor confidence and risking a multi-billion-pound claims storm…
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North Korean Operatives Steal Billions As IT Workers
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For many years, cybersecurity threats such as hacking and identity theft have affected not only individual accounts, but also companies and organizations. Many governments point the finger at North Korea as the likely location of these hackers who have cost the global economy billions of dollars. Now, reports from Cyber…
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Scott Bessent made billions on Wall Street with these big bets
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Little has been reported about Besant’s personal wealth. Unlike his hedge fund peers like Ray Dalio and Ken Griffin, he does not appear on billionaire lists. Bloomberg or Forbes. But some details about his net worth will emerge later as he is required to liquidate some properties to avoid any…
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Sam Altman has an idea to get AI to ‘love humanity,’ use it to poll billions of people about their value systems
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He is confident that this trait can be integrated into AI systems, but he is not sure. “I think so,” Altman said when asked that question during an interview with Harvard Business School Senior Associate Dean Deborah Spar. The issue of AI uprising was once limited to Isaac Asimov’s science…
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Sam Altman has an idea to get AI to ‘love humanity,’ use it to poll billions of people about their value systems
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He is confident that this trait can be integrated into AI systems, but he is not sure. “I think so,” Altman said when asked that question during an interview with Harvard Business School Senior Associate Dean Deborah Spar. The issue of AI uprising was once limited to Isaac Asimov’s science…
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Vote Trump, Save Crypto? Harris Victory Could Lead To ‘Billions’ In Losses, Says Winklevoss
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In a recent post on social media platform Winklevoss and his brother Taylor had previously spoken publicly Supported Former President Donald Trump donated $1 million in Bitcoin to his re-election campaign. Regulatory concerns are pushing cryptocurrency companies out of the United States Winklevoss Highlight The significant financial losses imposed by…
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Nation State To Buy Bitcoin Worth ‘Billions’ Soon: Insider
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David Bailey, CEO of Bitcoin Magazine and organizer of the Bitcoin Conference, has predicted that nation-state adoption of Bitcoin is imminent, with investments potentially reaching billions of dollars in the near future. Billy, a prominent figure in the Bitcoin community, shared his thoughts on X, highlighting the “undercurrent of nation-state…
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Nation State To Buy Bitcoin Worth ‘Billions’ Soon: Insider
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David Bailey, CEO of Bitcoin Magazine and organizer of the Bitcoin Conference, has predicted that nation-state adoption of Bitcoin is imminent, with investments potentially reaching billions of dollars in the near future. Billy, a prominent figure in the Bitcoin community, shared his thoughts on X, highlighting the “undercurrent of nation-state…
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FTX cleared to repay billions to customers after bankruptcy plan approval By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – FTX received court approval for its bankruptcy plan on Monday, which will allow it to repay customers in full using up to $16.5 billion in assets recovered since the collapse of the once-leading cryptocurrency exchange. U.S. Bankruptcy Judge John Dorsey approved the…
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National Insurance on employer pension contributions could raise billions for Treasury coffers
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The introduction of national insurance on employer contributions to pensions could generate billions for the Treasury, according to Sir Steve Webb, the former pensions minister. Webb, now a partner at LCP, points out that this reform could raise up to £16bn net a year and could be the most likely…
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Smotrich asks Histadrut to save him billions, but offers gesture
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Finance Minister Bezalel Smotrich and Histadrut Chairman Arnon Bar-David met today to discuss the Finance Ministry’s plans for the 2025 budget, some of which conflict with the interests of the labor organization and will require its approval. The main point raised is the Finance Ministry’s intention to save NIS 8…
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Renault CEO says sector could face billions in fines as EV sales slow By Reuters
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PARIS (Reuters) – Europe’s car industry could face fines of up to 15 billion euros ($17.4 billion) over carbon emissions as demand for electric vehicles slows. Renault “The EPA’s chief executive, Luca de Meo, said on Saturday: Carmakers face tougher EU CO2 emissions targets in 2025 with the cap on…
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Hedge funds may lose billions from Temu owner PDD’s stock crash
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Written by Summer Chen HONG KONG (Reuters) – Concentrated bets on Chinese e-commerce giant BDD Holdings Ltd may have cost hedge funds billions of dollars in losses as its shares tumbled following disappointing comments from its executives. Shares of U.S.-listed BDD Inc., owner of low-priced retailer Teemo, have fallen 33%…
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UK businesses at risk of losing billions by neglecting overseas patents
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UK companies are missing out on billions of pounds in potential revenue by not filing international patent applications as aggressively as their rivals in other countries, industry experts have warned. A report by the Chartered Institute of Patent Attorneys (CIPA) reveals that UK companies are registering patents in key markets…
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Banks step up the battle for rich churches’ billions
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Commercial banks are increasingly targeting churches and other religious organisations with financial products in a bid to earn billions of shillings generated through tithes, donations, offerings and investments in sectors such as education, real estate, health and hospitality. A number of banks have moved to enlist religious leaders to lead…