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NYPD probing detectives who worked security at house where man says he was tortured, AP source says

NYPD probing detectives who worked security at house where man says he was tortured, AP source says

Washington Post5 days ago

NEW YORK — New York City police are investigating two detectives who worked security at an upscale Manhattan townhouse where a man says he was kidnapped and tortured for weeks by two crypto investors who wanted to steal his Bitcoin, a city official said Thursday.
One of the detectives serves on Mayor Eric Adams' security detail and is believed to have picked up the victim from a local airport and brought him to the townhouse, the official said. It's not immediately clear if the other detective, who is a narcotics officer, has any connection to the incident.

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JPMorgan's Jamie Dimon is getting louder about his US debt worries
JPMorgan's Jamie Dimon is getting louder about his US debt worries

Yahoo

time7 minutes ago

  • Yahoo

JPMorgan's Jamie Dimon is getting louder about his US debt worries

JPMorgan Chase (JPM) CEO Jamie Dimon is increasingly concerned that the US government's surging debt is going to cause problems for the bond market, prompting some pushback from Treasury Secretary Scott Bessent. Last Friday, the boss of the biggest US bank predicted a "crack" in that market while speaking at the Reagan National Economic Forum in Simi Valley, Calif. "It is going to happen. And I tell this to my regulators, some of you who are in this room, I'm telling you it's going to happen, and you're going to panic." This past weekend, Bessent dismissed that prediction, saying Dimon has made it before. "I've known Jamie a long time and for his entire career he's made predictions like this. Fortunately, none of them have come true. That's why he's a banker, a great banker. He tries to look around the corner," Bessent said in an interview on CBS' "Face the Nation." Dimon emerged in 2025 as an influential voice when it comes to the policies of the new Trump administration — and as someone who apparently has President Trump's ear. The president even acknowledged listening to Dimon just hours before he announced a 90-day pause of his "Liberation Day" tariffs on April 9. Dimon repeated his warnings about the bond market in an interview with Fox Business Network's Maria Bartiromo that aired Monday, saying the surging US national debt may create a "tough time" for that market as spreads widen. "If people decide that the US dollar isn't the place to be, you could see credit spreads gap out; that would be quite a problem," Dimon said. "It hurts the people raising money. That includes small businesses, that includes loans to small businesses, includes high-yield debt, includes leveraged lending, includes real estate loans. That's why you should worry about volatility in the bond market." Long-term Treasury yields have been climbing in recent weeks, driven by growing concerns over the trajectory of US debt as President Trump's proposed tax legislation advances to the Senate after clearing the House. Read more: What is the 10-year Treasury note, and how does it affect your finances? New concerns emerged last week after a Manhattan-based trade court struck down a wide swath of Trump's tariffs, citing legal issues with how they were implemented. Although a federal appeals court paused that decision on Thursday, temporarily allowing the tariffs to remain in place, the legal back-and-forth has added to market uncertainty. Treasury yields initially spiked on Monday, with the 10-year (^TNX) climbing to 4.46% while the 30-year (^TYX) reached 4.99% by the end of the day. They briefly retreated on Tuesday, only to return to Monday levels, a threshold breached only a handful of times since 2007. Bessent told CBS this past weekend that the administration's work on getting down the deficit is underway. "The deficit this year is going to be lower than the deficit last year, and in two years it will be lower again," he said. "We are going to bring the deficit down slowly. We didn't get here in one year, and this has been a long process." The administration intends to "leave the country in great shape in 2028," he added. One area that would cushion a bond market tantrum that the Trump administration has clearly telegraphed is giving JPMorgan and other big banks a larger role as US Treasury holders, and possibly dealers. Bessent has repeatedly said he wants to adjust a bank capital requirement known as the supplemental leverage ratio (SLR) to make it easier for lenders in order to inject more liquidity into the market for US government debt. Dimon agrees that amending the SLR would help the market during times of stress, though he noted that he also wants to see reforms across lots of capital requirements. "The reason to change some of these things is so banks — the big market makers could intermediate more in the markets," Dimon told analysts in April. "If they do, spreads will come in, there'll be more active traders," Dimon said. "If they don't, the Fed will have to intermediate, which I think is just a bad policy idea that every time there's a kerfuffle in the markets, the Fed has to come in and intermediate." To prevent a bond market crack, Dimon said in the Fox News interview that aired Monday, "the real focus should be [economic] growth." He also named several places for improvement from regulatory, permitting, and education reforms to broader government efficiency efforts meant to stamp out waste and fraud in Medicare and Medicaid. Dimon gave Fox an update about his plans to leave the bank eventually, saying that his retirement is still "several years away" but that "it's up to God and the board," the 69-year-old CEO said. "I love what I do." On Tuesday, the bank announced in a memo that it was giving more responsibility to one of Dimon's potential successors, consumer bank boss Marianne Lake. Lake will also oversee strategic growth and the overseas consumer bank following Sanoke Viswanathan's departure to become CEO of data provider FactSet. David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

My favorite travel charger doubles as an AirTag. It just dropped to the lowest price yet
My favorite travel charger doubles as an AirTag. It just dropped to the lowest price yet

CNN

time9 minutes ago

  • CNN

My favorite travel charger doubles as an AirTag. It just dropped to the lowest price yet

Last fall, I ditched the AirTag I previously used in my suitcase for this nifty travel charger and item finder combo from Twelve South. Since then, it has come in handy for several trips, offering peace of mind on top of its USB-C charging capabilities. This accessory couldn't have gone on sale at a better time either. CNN Underscored is kicking off its Summer Travel Week, and now Amazon has dropped prices lower than ever on both versions of the Twelve South PlugBug. Twelve South PlugBug 2-Port 50W USB-C Charger With Find My Equal parts AirTag and wall charger, this 2-in-1 device can track your luggage on the way to a destination, then power up your iPhone or MacBook once you arrive. It features a 50W output and a pair of USB-C ports and is now down to its lowest Amazon price yet. Twelve South PlugBug 4-Port 120W USB-C Charger With Find My Not as steep of a discount as the two-port version, this 120W charger packs the same Find My technology into a more capable wall adapter that's better suited for refueling all your gadgets at once. This is the model I use, though I think most will find the 50W alternative is a better value. Back in November, Twelve South launched its newest models of the PlugBug. These new editions are geared toward travel, with a suite of features that make them perfect for stowing in your carry-on or checked luggage. The most essential of which is the bundled modules that let you switch between a US-style wall adapter and plugs to use internationally. In the box, there are travel adapters for use here in America, as well as in Canada, Australia, Europe, the United Kingdom and Korea. Alongside being able to use these chargers just about anywhere in the world, Twelve South also added Find My tracking. Find My is the same technology that you'll find in Apple's beloved AirTags, meaning that this wall adapter pulls double duty as an item finder. So, instead of having to buy a separate accessory to track your checked bag, you can monitor the suitcase's location thanks to the travel charger you're already packing. All that earns it a spot on my list of the best portable tech. CNN Underscored has a team of writers and editors with years of experience testing, researching and recommending products, and they ensure each article is carefully edited and products are properly vetted. We consult top experts when relevant to ensure we are testing each product accurately, recommending only the best products and considering the pros and cons of each item. Senior deals editor Rikka Altland has personally reviewed tech for years and in the consumer electronics world for nearly a decade. Through almost that entire tenure, Twelve South has won her over time and time again with its inventive and useful gadgets. She recently put the company's AirFly Pro 2 to the test.

Apollo's John Zito Sees AI Boom Powering Private Credit Growth
Apollo's John Zito Sees AI Boom Powering Private Credit Growth

Bloomberg

time10 minutes ago

  • Bloomberg

Apollo's John Zito Sees AI Boom Powering Private Credit Growth

Rapid-fire advancements in artificial intelligence make even predicting what next month will look like a challenge. That uncertainty is an opening for private credit, which has the adaptability needed to fund the fast-growing industry, according to John Zito at Apollo Global Management Inc. 'Being able to underwrite a 15- to 20-year loan, with flexible terms, with a hyperscaler, grid provider or power company — that doesn't get talked about enough in private credit,' Zito said during a panel at Moody's Credit Frontiers 2025 conference Tuesday in New York City.

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