Tag:
NASDAQ
Arlington, VA
Business
Trump Reignites Trade War With EU, Threatens Apple With iPhone Tariffs
President Donald Trump issued new tariff threats against the European Union and Apple, relaunching trade feuds that have shaken the US economy throughout 2025. Trump threatened the EU with a 50% tariff in a post on his social media platform Truth Social on Friday, May 23. He claimed the higher duties would go into effect on Sunday, June 1. The President accused the EU of being "difficult to deal with" in trade negotiations. "Our discussions with them are going nowhere!" Trump posted. "Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There …
Fairfield, CT
Business
Jim Cramer Fears ‘Black Monday’ As Markets Tumble After Trump's Tariff Rollout
It was a brutal week for investors, who lost nearly $7 trillion after President Donald Trump announced sweeping tariffs on nearly every country, and CNBC's Jim Cramer warned that the pain may not be over. The "Mad Money" host said he fears stock prices may continue to fall on Monday, April 7, adding that investors could be facing a repeat of one of the market’s worst days. Related: Mexico And Canada Promise More Tariffs Coming For US If the president doesn’t try to reach out and reward these countries and companies that play by the rules, then the 1987 scenario ... the one where we went …
Bridgeport, CT
Business
Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital
Investors hoping the major dip in the stock market last week was just a blip were greeted with even more losses on Monday, Aug. 5, as fears of a recession and global turmoil sent stocks tumbling. The Dow Jones Industrial Average fell 1,200 points at one point but closed 1,000 down. The S&P 500 dropped more than 3 percent and the Nasdaq fell 3.4 percent. The massive sell-off began on Friday after a US jobs report showed that employer hiring in July had slowed more than analysts had predicted. Investors were already on edge over fears the US Federal Reserve had left interest ra…
Newark, NJ
News
Ex-Trump PAC Exec Who Blamed 'That B****' Hillary Clinton For Probe Indicted By Feds In NJ
A former pro-Trump PAC exec who blamed "that b**** Hillary Clinton" for his troubles with the law swindled more than two dozen investors out of $7 million, an indictment returned Tuesday by a federal grand jury in Newark alleges. U.S. Homeland Security agents a year ago this month smashed the alleged Ponzi scheme that they said New Jersey-based businessman David Schamens, 65, used to fund a lavish lifestyle. Now comes a March 28 indictment that charges him with wire fraud, securities fraud and money laundering. Schamens, of Greensboro, North Carolina, used some of the investment money fro…
Hackensack, NJ
News
'Not A Single Human Being Will Shed A Tear': Infamous Ponzi Schemer Madoff Dies In Fed Pen
He stole from the rich, from the poor and from plenty of others in-between. Bernie Madoff, the most notorious Ponzi schemer in history, has died in federal prison, according to reports. “Bernie Madoff is dead. There is not a single human being on this earth who will shed a tear,” columnist Joe Nocera tweeted Wednesday morning. Madoff, 82, was serving a 150-year sentence without parole at a North Carolina penitentiary for defrauding thousands of people of billions of dollars in the largest Ponzi scheme ever prosecuted. The Associated Press said a source with direct knowledge of the matter c…
Fairfield, CT
News
Weston Cardiologist Sentenced, Fined $500K For Insider Trading
A 70-year-old Fairfield County cardiologist is heading to prison after using his position to buy and sell stock based on insider information he received as a principal investor in a biotech company. Edward Kosinski of Weston was sentenced to six months in prison followed by two years of supervised release and must pay a $500,000 fine for insider trading. He was found guilty by a jury of two counts of securities fraud-insider trading in November last year, according to John Durham, the United States Attorney for the District of Connecticut. On Jan. 29, 2014, Kosinski, working as a cardiologi…
New Rochelle, NY
Schools
Iona Prep Unveils Five New Hall Of Fame Inductees
Iona Preparatory School will induct five new members into its Hall of Fame as part of its Reunion Weekend on April 27-28. The 2018 honorees include business and community leaders from Under Armour, Nasdaq, Richard Bernstein Advisors, O.C. Tanner and Iona Prep Lower School. “For more than 100 years, Iona Prep has been developing young men into moral, ethical and spiritual leaders, and the Hall of Fame honorees represent the very highest level of excellence,” said Brother Thomas R. Leto, president of Iona Prep in New Rochelle. “We are so proud to add another five outstanding individuals to t…
