Author: News Room

Norfolk Southern’s board is examining allegations that CEO Alan Shaw engaged in an inappropriate workplace relationship, according to three people familiar with the matter.The probe is in its early stages, and it is possible that no misconduct may be uncovered. The company is working with outside legal advisors on the probe, two of the people said.Shaw did not return phone calls or text messages requesting comment. Multiple directors, including the chair, former Canadian National Railway CEO Claude Mongeau, also did not return requests for comment.In addition, multiple spokespeople for the company also did not immediately return requests for comment.Norfolk Southern’s…

Recently, I was on a company trip with my husband who is a wealth advisor. It was an awards trip for high performers in his profession. It has been fun over the years to meet people across the country and become friends. In past years, the conversations focused on sharing best practices about how they structured, built, and enhanced their businesses. Now these friends are in the fourth quarter of their careers, and our conversations are shifting into less familiar territory. Everyone had worked very hard to become star contributors to their businesses. Now they were starting to ask each…

Former President Donald Trump on Saturday called for “modifying” the 25th Amendment to allow for the removal of a vice president who “lies or engages in a conspiracy to cover up the incapacity of the president,” a political nonstarter and the latest escalation of his attacks on President Joe Biden and the change atop the Democratic ticket. “If you do that with a cover-up of the president of the United States, it’s grounds for impeachment immediately and removal from office, beause that’s what they did,” Trump said during a campaign rally in Mosinee, Wisconsin. In the wake of Biden’s poor June debate…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Thousands of Brazilians joined an independence day rally called by members of the rightwing opposition in protest against a supreme court judge who banned Elon Musk’s social media platform X in the country. Dressed in the national colours of yellow and green, attendees at Saturday’s demonstration in São Paulo held posters demanding the removal of justice Alexandre de Moraes, who has attracted controversy for a wide-ranging crackdown on digital disinformation. “I came here today in favour of freedom of expression. The constitution is being…

Introduction I don’t think JPMorgan (NYSE:JPM) needs to be introduced to any investor. As a US-based financial conglomerate, the financial institution is a household name. While I also like the company from an earnings perspective, its dividend yield is currently pretty low at 2.1%. That’s why I focused on the bank’s preferred securities in previous articles as I still believe the combination of owning common stock for capital gains and preferred stock for the income is the best way to be invested in JPMorgan. Data by YChartsNo need to be worried about JPMorgan’s ability to generate a profit – loan…

They’re not on any of the major television networks, but they have millions of viewers. Now, the Justice Department is alleging that some of the biggest stars in right-wing social media were, unwittingly, part of a sinister Russian operation to influence the 2024 US election. The personalities weren’t directly named or accused of wrongdoing by the Justice Department, but court documents unsealed Wednesday revealed Russian state media producers funneled nearly $10 million to an unnamed Tennessee-based online media company. The company, identified by CNN as Tenet Media, boasts a slate of high-profile right-wing commentators as “talent,” including Tim Pool, Benny Johnson, Lauren Southern, Tayler Hansen, Matt Christiansen and Dave Rubin, collectively boasting millions of followers across social media platforms. Two Russian state…

Big banks are jumping headfirst into the AI race. Over the past year, Wall Street’s largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. Some are striking deals and partnerships to get there quickly. All are hiring specialized talent and creating new technologies to transform their once-stodgy businesses. The game is still in its early innings, but the stakes are high. In his annual shareholder letter, JPMorgan CEO Jamie Dimon compared artificial intelligence to the “printing…

CIA Director William Burns believed there was a real risk in the fall of 2022 that Russia could use nuclear weapons on the battlefield against Ukraine, though he said the West should not be intimidated by Russian President Vladimir Putin’s threats. “None of us should take lightly the risks of escalation,” Burns said Saturday in a moderated conversation with the U.K.’s secret intelligence chief Richard Moore at the Financial Times Weekend Festival.”There was a moment in the fall of 2022 when I think there was a genuine risk of the potential use of tactical nuclear weapons,” Burns said.”I have never…

Mortgage rates dipped a bit this week, still holding steady around the mid-6% range while demand remains weak in the housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.46% this week from 6.49% last week. The average rate on a 30-year loan was 7.23% a year ago. “Although mortgage rates have stayed relatively flat over the past couple of weeks, softer incoming economic data suggest rates will gently slope downward through the end of the year,” said Sam Khater, Freddie Mac’s chief economist. “Earlier…

The IRS is asking for comments about a new way to save for retirement. The super-charged saver’s match builds on the existing saver’s credit and has been described as “an important opportunity to improve the long-term financial security for millions of low- to moderate-income Americans.” Under the plan, beginning in 2027, qualifying individuals making annual contributions of up to $2,000 to certain retirement plans will be eligible to receive up to $1,000 in a saver’s match contribution from the Treasury each year. The Saver’s Match is made possible by the SECURE 2.0 Act of 2022. Background SECURE 2.0 Act is…