News Stocks 

When buying a car, be strategic with your money. Here’s how

“But if a stock has a built-in loss, why not sell it, realize the loss and give the kids the cash?” writes Liz Weston for latimes.com. If the child really wants that particular stock, he or she can use the cash to buy it. The children would have to be mindful of the wash-sale rules that prohibit deducting a loss if a related party buys the same stock, but waiting 31 days would be enough to avoid that. Source: latimes.com Share This:

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News 

This 35-year-old banker left Goldman Sachs to start a fintech inspired by his mother — 5 years later Goldman gave him £100 million

“After leaving Goldman, even during my time at Goldman, I was looking at fintech,” Ijaha told Business Insider” writes Oscar Williams-grut for businessinsider.com. Ijaha wouldn’t disclose the exact breakdown between debt and equity of Goldman’s £100 million investment but said the greater part is debt.Neyber, founded in 2014 and launched in 2015, partners with employers to let their staff borrow money at attractive rates.Neyber has lent over £70 million and now works with over 80 employers, including 10 NHS trusts, DHL and Anglian Water. Source: businessinsider.com Share This:

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News Stocks 

An FBI sting and a Picasso scam: how the collapse of Beaufort could destroy trust in UK money managers

“Dr Heikki Lanckriet was just days away from sealing the takeover of an Australian drug research company when he hit a major stumbling block” writes Ben Marlow for telegraph.co.uk. London broker Beaufort Securities, which was holding his company’s stock, had gone bust and £800m of client assets had been frozen.The deal, which he had been working on for a year now, hung in the balance. “I was going to take my stock out to complete the transaction, and this whole fiasco nearly jeopardised it,” says Lanckriet, the boss of German biotech…

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GBP News 

French Open hikes prize money as Brexit eats Wimbledon purse

“The U.S. Open, the final Grand Slam of the year starting in August, has yet to announce its prize money” writes Midwest Communications Inc for 95kqds.com. This year’s clay-court slam will award prize money totaling 39.20 million euros ($45.73 million).But it is on prize money where rivalries are perhaps the hardest fought. Source: 95kqds.com Share This:

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Crypto Markets News 

Traders Think Regulatory Crackdown on Cryptocurrency…

“The cryptocurrency market is undergoing a shift as the issue of regulation remains at the fore of discussion; yet, according to some traders regulating the industry will be a good thing” writes Rebecca Campbell for livebitcoinnews.com. This week, it launched an investigation into whether traders have been manipulating the price of bitcoin and other digital currencies as it continues its scrutiny in the market.The U.S. Department of Justice (DoJ) is also looking closely into the market. Source: livebitcoinnews.com Share This:

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Apple Says It Wasn’t About Money After Samsung Loses Patent Bet

“Samsung previously paid Apple $548 million — $399 million for products that infringed the design patents plus more for infringing a utility patent not at issue in the retrial” writes Joel Rosenblatt for bloomberg.com. Apple said in a statement after the verdict that the case “has always been about more than money.” The case is Apple Inc. v.The damages retrial before Koh gave Samsung a chance to argue Apple wasn’t entitled to all of its profit from the infringing phones, and recoup at least some of the money. Source: bloomberg.com Share…

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GBP News 

How Britain let Russia hide its millions

“Does the commission the estate agent earned by selling those flats in Kensington in the early 1990s count as dirty money?” writes Oliver Bullough for theguardian.com. This is one of the problems with trying to ascertain the volume of dirty Russian money in London: how far back do we go?. This is the kind of money Britain has been happily fencing for decades.Britain has consistently welcomed Russian money, and consistently ignored the warnings of those concerned about what it is buying. Source: theguardian.com Share This:

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School district in New York state to test facial-recognition technology used in casinos

“For the Board of Education and the Lockport City School District, this is the No. 1 priority: school security.”” writes Valerie Strauss for sun-sentinel.com. In New York, the Lockport City School District is spending $1.4 million to install the kind of facial-recognition technology used in casinos and at government agencies in other countries, including Scotland Yard, the Buffalo News reported. There are also questions about how much money school districts will wind up spending on untested security measures and how much that will affect instructional budgets.But there is no evidence…

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