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SEC charges social media influencers in alleged $100 million fraud scheme

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., May 12, 2021. Andrew Kelly | Reuters The Securities and Exchange Commission charged seven social media influencers with using Twitter and Discord to commit securities fraud and an additional influencer with aiding …

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This 529 plan myth is making college more expensive for families

Kevin Dodge | The Image Bank | Getty Images SEATTLE — For many families, paying for college is a financial burden, and experts say education funding myths may be adding to the student loan debt crisis. “There’s often this perception that somehow people are being penalized for saving for college,” …

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Here’s everything the Federal Reserve is expected to do Wednesday

U.S. Federal Reserve Board Chairman Jerome Powell holds a news conference after Federal Reserve raised its target interest rate by three-quarters of a percentage point in Washington, September 21, 2022. Kevin Lamarque | Reuters Call it a sign of the times where a half percentage point interest rate increase from …

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Sam Bankman-Fried denied bail in Bahamas on FTX fraud charges

A magistrate judge in the Bahamas on Tuesday denied bail to FTX co-founder Sam Bankman-Fried, citing heightened flight risk, and said he should be remanded to Bahamian custody until February 8, 2023, hours after a U.S. federal criminal indictment against Bankman-Fried alleging a massive fraud at FTX was unsealed in …

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Morgan Stanley upgrades its 2023 growth outlook for China

Employees working on the production line of carbon fiber badminton rackets at a factory in Sihong County, in China’s Jiangsu province. China reported Saturday that factory activity in April contracted at a steeper pace as Covid-19 lockdowns halted industrial production and disrupted supply chains. Visual China Group | Getty Images …

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Costco membership price hike is ‘a question of when, not if’

Costco’s $60 annual membership fee is going up sooner or later. During the company’s earnings report last week, chief financial officer Richard Galanti said that while “there’s no rush” to raise prices, an eventual hike is “a question of when, not if.” The Seattle-based wholesaler’s last price hike in June …

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Fed rate hike expected to be half a percentage point as central bank fights inflation

Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, November 2, 2022. Elizabeth Frantz | Reuters The Federal Reserve is expected to raise interest rates by a smaller half percentage point …

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Jack Dorsey admits mistakes at Twitter, says site still has problems

Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Twitter co-founder and CEO Jack Dorsey didn’t mention Elon Musk by name. But in a blog post on Tuesday, he made it …

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Crypto and high wages need to crash for Fed to beat inflation

CNBC’s Jim Cramer on Tuesday outlined what needs to happen for the Federal Reserve to finally beat inflation after the monthly consumer price index report showed that prices rose less than expected in November. “Without a well-deserved crash in crypto and a sign of higher unemployment acknowledged by [Federal Reserve …

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Google execs warn of reputational risk with ChatGBT-like tool

Google senior fellow Jeff Dean speaks at a 2017 event in China. Source: Chris Wong | Google Google employees are seeing all the buzz around ChatGPT, the artificial intelligence chatbot that was released to the public at the end of November and quickly turned into a Twitter sensation. Some of …

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