The ferocious fire that swept through a Hong Kong housing estate last year, killing 168 people and leaving about 5,000 homeless, raised many questions that need to be answered. Investigations immediately began into what happened at Wang Fuk Court and how the tragedy occurred. An ongoing independent public inquiry has already highlighted numerous areas of concern. Policies and laws are being change...
The ferocious fire that swept through a Hong Kong housing estate last year, killing 168 people and leaving about 5,000 homeless, raised many questions that need to be answered. Investigations immediately began into what happened at Wang Fuk Court and how the tragedy occurred. An ongoing independent public inquiry has already highlighted numerous areas of concern. Policies and laws are being changed in a bid to ensure lessons are learned and that a similar disaster can never happen...
Welcome to Bloomberg’s California Edition — covering all the events shaping one of the world’s biggest economies and its global influence. This week: A tale of two Tahoes. Sign up here if you’re not already on the list. Almost everyone who grew up in NorCal has fond memories of Lake Tahoe: impossible blue waters, towering pines and endless vacation days. Which is why you may want to pay attention ...
Welcome to Bloomberg’s California Edition — covering all the events shaping one of the world’s biggest economies and its global influence. This week: A tale of two Tahoes. Sign up here if you’re not already on the list. Almost everyone who grew up in NorCal has fond memories of Lake Tahoe: impossible blue waters, towering pines and endless vacation days. Which is why you may want to pay attention to what’s happening to Incline Village. Just across the border to Nevada, what was once a cheap refuge for airline pilots, then home to ski bums and middle-class vacationers is quickly becoming a billionaires’ playground . Yes, you’d be right to point out that California’s richest have often fled to Lake Tahoe ( remember Mark Zuckerberg wake surfing there? ). However, a proposed state wealth tax, combined with new fortunes minted by SpaceX and soaring AI valuations, is accelerating the migration — particularly to the tax-friendly Nevada side of the alpine lake. The result is a town of fewer than 10,000 residents being transformed into a luxury ZIP code with room for ultrarich tech titans and few others. In Incline Village, a historic property is being turned into a luxe wellness hotel featuring members-only access through underground tunnels and priority entry to “Burning Man Decompression.” The nearby airport has an eight-year waiting list for jet hangars, while the local private school is near capacity, and homes by the lake are selling at record prices — with a $125 million recent purchase ranking among the most expensive in the nation. Here’s Eliyahu Kamisher breaking down how an exodus of California wealth is leading to a tale of two Tahoes . And a handy map on the who’s who of the billionaires with homes at the Nevada side of the lake. Up Front Ultrawealthy Californians are not the only ones pushing back against new taxes . Voters in San Francisco rejected Proposition D, also known as the Overpaid CEO Act, a ballot measure that would have increased taxes on large busi...
SlavkoSereda/iStock via Getty Images CME Group ( CME ) said post-market Thursday it plans to expand 24/7 trading to new, smaller-sized crude oil and gold contracts, pending regulatory review. CME ( CME ) said the new 10-Barrel WTI Crude Oil contract will be one-tenth the size of its existing Micro WTI futures and will launch on August 30, and 24/7 trading for the company's existing 1-Ounce Gold fu...
SlavkoSereda/iStock via Getty Images CME Group ( CME ) said post-market Thursday it plans to expand 24/7 trading to new, smaller-sized crude oil and gold contracts, pending regulatory review. CME ( CME ) said the new 10-Barrel WTI Crude Oil contract will be one-tenth the size of its existing Micro WTI futures and will launch on August 30, and 24/7 trading for the company's existing 1-Ounce Gold futures would begin on July 26. The new offerings aim to allow traders to manage their trading exposure whenever news breaks, the company said. "Traders are increasingly looking to diversify their portfolios across commodity markets in the face of geopolitical uncertainty," CME Group ( CME ) Senior Managing Director and Global Head of Commodities Markets Derek Sammann said. More on CME Group CME Group Presents at Piper Sandler Global Exchange and Fintech Conference Transcript CME Group Q1 Earnings Show Strength, But The Stock Still Looks Expensive As Chicago Thaws In Spring, CME Group Remains A Hot Dividend Idea
U.S. Attorney for the District of Columbia Jeanine Pirro announces charges in connection with an international car theft ring during a press conference at the Justice Department in Washington, D.C., U.S., April 22, 2026. Nathan Howard | Reuters A federal judge in Washington denied on Thursday a prosecutor's request to erase the record of the government's legal losses its attempt to investigate for...
U.S. Attorney for the District of Columbia Jeanine Pirro announces charges in connection with an international car theft ring during a press conference at the Justice Department in Washington, D.C., U.S., April 22, 2026. Nathan Howard | Reuters A federal judge in Washington denied on Thursday a prosecutor's request to erase the record of the government's legal losses its attempt to investigate former Federal Reserve Chair Jerome Powell . Chief Judge James E. Boasberg in the D.C. Circuit's scathing order, replete with media quotes and links to YouTube clips, denied a motion by the office of U.S. Attorney Jeanine Pirro to vacate his earlier rulings that had gone against Pirro. The latest development caps a monthslong legal saga that saw Boasberg halt aspects of an investigation by Pirro into the Fed. Boasberg in March quashed a pair of subpoenas Pirro issued because, he ruled, Pirro's effort was intended at least in part to "harass and pressure Powell" on behalf of the president, who wanted lower interest rates. Read more CNBC politics coverage Trump family got about $500M from crypto venture — but investors saw steep losses Trump repeats claims that Iran deal is only 'days' away, despite recent strikes USDA Secretary Rollins calls Texas ag chief 'unserious' amid screwworm threat Trump nominates Todd Blanche for attorney general amid controversy over DOJ fund Pirro in April agreed to close the investigation of Powell under pressure from Republican Sen. Thom Tillis of North Carolina. Tillis dropped a Senate blockade of the confirmation of Kevin Warsh , Trump's nominee to replace Powell as leader of the Fed. Warsh was confirmed in May and will chair his first meeting of the Fed's rate-setting committee next week. Powell stepped down from the Fed chair as required by law but opted to retain his separate seat on the Fed's board . He wanted to ensure that the legal threat to the Fed had truly ended, even after Pirro said she had dropped the investigation. Boasberg in a sca...
Prosecutors cite ChatGPT messages as key evidence Gabriella Perpetuo died of blunt force injuries Former NFL linebacker Darron Lee has been indicted on a murder charge in the death of his partner . A grand jury in Hamilton County returned an indictment on Tuesday. Prosecutors dismissed a tampering with evidence charge to focus solely on the more serious allegation, Hamilton County district attorne...
Prosecutors cite ChatGPT messages as key evidence Gabriella Perpetuo died of blunt force injuries Former NFL linebacker Darron Lee has been indicted on a murder charge in the death of his partner . A grand jury in Hamilton County returned an indictment on Tuesday. Prosecutors dismissed a tampering with evidence charge to focus solely on the more serious allegation, Hamilton County district attorney Coty Wamp said. Continue reading...
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City. Spencer Platt | Getty Images U.S. stock futures were little changed on Thursday night as traders looked ahead to SpaceX's historic initial public offering on Friday. S&P 500 futures added 0.2%, and Nasdaq 100 futures rose 0.2%. Futures tied to the Dow Jones Industrial Average gained 70 points, or 0.1%. Stocks rallied...
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City. Spencer Platt | Getty Images U.S. stock futures were little changed on Thursday night as traders looked ahead to SpaceX's historic initial public offering on Friday. S&P 500 futures added 0.2%, and Nasdaq 100 futures rose 0.2%. Futures tied to the Dow Jones Industrial Average gained 70 points, or 0.1%. Stocks rallied on Thursday, following a rebound in chip stocks and President Donald Trump signaling that the U.S. and Iran could soon sign a peace deal . The S&P 500 rose 1.75%, while the tech-heavy Nasdaq Composite gained 2.54%. The Dow Jones Industrial Average jumped 929.97 points, or 1.86%. On Thursday, Trump told reporters in the Oval Office that a deal between the U.S. and Iran would have a "signing soon, and the documents are in pretty final shape. It should be done and it should be done pretty quickly." The president added that under the deal, "Iran will never have a nuclear weapon." Equities had rallied earlier in the day, after Trump said in a Truth Social post that he had called off the strikes on Iran originally planned for Thursday evening. Heading into Friday, all eyes will be watching SpaceX, Elon Musk's rocket maker, as it debuts on the Nasdaq. SpaceX, set to go public under the ticker symbol SPCX, has set a fixed price of $135 per share, which would put its valuation at $1.77 trillion. The company plans to sell 555.6 million shares, amounting to a $75 billion fundraise that would be the largest initial public offering in history . It's more than triple the size of Alibaba's $22 billion offering in 2014, currently the biggest U.S. IPO to date. If the IPO goes according to plan, it could offer a major catalyst for stocks on Friday. But some investors are concerned that due to the offering's sheer size, it could pressure the market . Even if the market can digest these new shares of SpaceX, IPOs are known to be volatile, and Friday's offering could trigger another rotation i...
The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +1.75%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +1.86%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +3.29%. June E-mini S&P futures (ESM26 ) rose +1.73%, and June E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +1.75%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +1.86%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +3.29%. June E-mini S&P futures (ESM26 ) rose +1.73%, and June E-mini Nasdaq futures...
Meta remains one of the highest-quality tech companies in the market, and the recent pullback may encourage more investors to take a closer look at its stock.
Meta remains one of the highest-quality tech companies in the market, and the recent pullback may encourage more investors to take a closer look at its stock.
Meta remains one of the highest-quality tech companies in the market, and the recent pullback may encourage more investors to take a closer look at its stock.
Meta remains one of the highest-quality tech companies in the market, and the recent pullback may encourage more investors to take a closer look at its stock.