Author: Editor

Get ready for more sports betting scandals.On Thursday, the FBI arrested two current members of the NBA — Miami Heat player Terry Rozier and Portland Trail Blazers head coach Chauncey Billups — as part of a long-term investigation into illegal sports betting and poker schemes. Billups’ charge wasn’t basketball-related. Former NBA player Damon Jones was also charged.”Terry is not a gambler, but he is not afraid of a fight, and he looks forward to winning this fight,” Rozier’s lawyer said in a statement.Sports betting scandals have been occurring for over a century, but researchers say they could become more prevalent…

NBA and FanDuel online sports betting signage is displayed on the side of a building in Phoenix, Arizona, on June 5, 2024.Patrick T. Fallon | AFP | Getty Images”This is the insider trading saga for the NBA.”That was FBI Director Kash Patel’s message at a news conference Thursday, announcing the arrests of Portland Trailblazers coach Chauncey Billups and Miami Heat player Terry Rozier.The two were among more than 30 people charged in an illegal poker ring involving organized crime and cheating, according to prosecutors. The U.S. Attorney, FBI and other law enforcement agencies are also charging Rozier as well as…

The Internal Revenue Service and the Treasury Department intend to issue proposed regulations providing a rule for determining the source of borrow fees paid in securities-lending transactions and sale-repurchase transactions. The fees will be sourced based on the recipient’s residence.Neither the Tax Code nor Treasury regulations directly specify how to determine the source of payments referred to as borrow fees or negative rebates to securities lending transactions or sale-repurchase transactions. As a result, the appropriate source rule for those payments is uncertain, the IRS and Treasury said Thursday in Notice 2025-63. Back in 2012, they issued final regulations on the source…

Halloween just got a little less spooky for student-loan borrowers.After receiving emails earlier this month that they are eligible for student-loan forgiveness, borrowers on income-based repayment plans are now seeing the relief: their servicers have zeroed out their balances and confirmed the forgiveness.Income-based repayment plans give borrowers monthly payments based on their income, with the promise of loan forgiveness after 20 or 25 years, depending on when they first enrolled in the plan. An email from the Department of Education told eligible borrowers that their servicers would notify them when their discharges have been processed, and those notifications are now…

An exhibition room at Pop Mart’s theme park, Pop Land, in Beijing, on June 18, 2025.Pedro Pardo | Afp | Getty ImagesShares of Chinese toymaker Pop Mart fell 9% Thursday, notching the stock’s worst day since April and extending its declines since a late-August peak.The company behind the popular Labubu dolls, a series of collectible elf-like monster dolls that come in blind-box packaging, reported on Tuesday that third-quarter revenue had more than tripled year over year as sales in the U.S. swelled between 1,265% and 1,270%.And yet concerns are growing the craze could be fading.Data from Chinese resale platform Qiandao…

Hollywood giants are pushing back on AI’s encroachment. Studios are taking issue with OpenAI’s Sora generating videos of their IP. Disney and Universal recently sued Midjourney, accusing it of using tech to rip off their famous characters.Inside entertainment companies, however, it’s a whole different story. Big studios and filmmakers are using AI technology in various ways — and people in Hollywood are taking note. The AI on the Lot conference in May has doubled its attendance to 1,200 over three years, while AI editing company Runway attracted some 1,000 people to its third film festival.The tantalizing promise of AI is that…

This as-told-to essay is based on a conversation with Jyoti Bansal is founder and CEO of Harness and managing partner at Unusual Ventures. It has been edited for length and clarity.When I was studying computer science at one of India’s top universities, I became fascinated by startups. I was captivated by the impact startups had: the idea that you could start a company from scratch that provided outstanding services, technologies, and jobs.Naturally, I then became fascinated by Silicon Valley. That’s where the top startups in the world were being formed. My goal was to build a company, and it seemed…

A Ford logo on a Ford F-150 pickup truck for sale in Encinitas, California, U.S. Oct. 20, 2025. Mike Blake | ReutersDETROIT – Ford Motor is set to announce third-quarter earnings after the markets close Thursday.Here’s what Wall Street expects, based on average analysts’ estimates compiled by LSEG:Earnings per share: 36 cents adjustedAutomotive revenue: $43.08 billionThose results would mark revenue that’s in line with a year earlier and a 26% drop in adjusted earnings per share. Ford’s third-quarter 2024 results included $43.07 billion in automotive revenue, net income of $896 million and adjusted earnings before interest and taxes of $2.55…

The recent failures of auto lender Tricolor and auto-parts manufacturer First Brands, which JPMorgan CEO Jamie Dimon dubbed “cockroaches,” had the biggest names on Wall Street pointing fingers last week.Blackstone has been paying attention too, but on its third-quarter earnings call on Thursday, the company had a clear message: any attempts to tie these bankruptcies to private credit are fake news.”These events have been erroneously linked to the traditional private credit market as a result of misunderstandings and misinformation,” said Steve Schwarzman, the chief executive of the world’s largest private investment firm.Schwarzman blamed the “bank-led and bank-syndicated credits, not private…

RSM US and RSM UK partners approved a new transatlantic partnership structure in a nearly unanimous vote, effective Jan. 1, 2026, in the latest sign of global consolidation among Top 10 Firms. However, both firms plan to remain independent members of the RSM International network.The agreement builds on a deal the two firms announced last October to combine forces, creating a firm with over 23,000 professionals and annual revenues of $5 billion, with locations in the U.S., the U.K., Canada, Ireland, India and El Salvador. The Chicago- and London-based firms, which are both part of the RSM International network, have…