Latest news with #0000
New York Post
4 days ago
- Business
- New York Post
The race to succeed Fed Chair Jerome Powell just got weirder
Federal Reserve Chair Jerome Powell's wild ride with President Trump took a few turns down Crazy Street a while ago, of course – but that doesn't mean the stomach-churning trip is over. While Wall Street grapples with the president's threats to fire the central bank's boss, the rumor mill surrounding his possible successor has yielded a dizzying surprise of its own, On The Money has learned. Bill Pulte, the current head of the Federal Housing Finance Authority that runs mortgage giants Fannie Mae and Freddie Mac, has lately surfaced as a possible pick alongside the 'two Kevins' – Kevin Hassett, director of the National Economic Council; and Kevin Warsh, a Stanford professor and fellow at the right-leaning Hoover Institute. 3 While Wall Street grapples with the president's threats to fire the central bank's boss, the rumor mill surrounding his possible successor has yielded a dizzying surprise of its own. From left Bill Pulte, Kevin Warsh and Kevin Hassett Let's be clear – this Pulte rumor is not getting a lot of credence. Pulte is not an economist. He has a degree in broadcast journalism. He is 37 years old. Yet his name oddly began bouncing around the outer edge of the rumor mill after he posted on social media last week that the current Fed chair might step down. Advertisement Yes, Pulte runs an agency that oversees some $7 trillion in loans. He's also the scion of the Pulte family that runs the big residential construction company now known as the Pulte Group. He worked in private equity. But his social media feed shows he also tapped into the meme stock craze, even if he was careful not to give specific buy recs. While I kind of like the idea of a meme-stock guy running the Fed just for comedic value, the markets would probably puke with interest rates on the 10 and 30-year bond exploding. Advertisement On the other hand, we all know Trump loves easy money (he hates Powell for not being easier with it) and has made some unconventional choices for his cabinet in the past (cf. Matt Gaetz, Pete Hegseth, RFK Jr., etc., etc.). It's probably nothing, of course. Has to be, right? Just one more thing to make the suits on Wall Street sweat a little harder this summer. 3 Kevin Hassett is a smart economist who's also good on TV — a plus in Trump's world. Getty Images Back to reality (we hope?). Kevin Hassett is a smart economist. He co-authored the 1999 book 'Dow 36,0000' predicting a massive bull market in stocks. The markets subsequently fell with the dot-com bust, but the prediction was highly prescient, with the down closing Wednesday over 44,000. Advertisement Hassett is also good on TV — a plus in Trump world, but again, the question becomes whether he will be seen as a rubber-stamp on interest rate policy given his loyalty to the president and whether that will lead to bond market turmoil. That brings us to the best choice for the job, Kevin Warsh, who seems to have it all. He's camera ready, and he has both the professional chops to do the job having been on the Fed's board of governors during the 2008 financial crisis. 3 As reported, Treasury Secretary Scott Bessent is leading the search, and could pick himself. AFP via Getty Images He's said to be close with Trump who has leaned on him over the years on monetary policy issues. Another plus: Warsh has been a critic of Jerome Powell's handling of interest rate policy. Seems like a shoe-in for Trump right? Well maybe not. Warsh's Powell critique is mainly over the Fed chair missing the boat on inflation back in 2021 and not raising interest rates fast enough. He would run a less interventionist Fed if he had his druthers, which might not be to The Donald's liking given the president's obsession with lower short term rates. Advertisement All that said, Warsh would make a really good Fed chair and he and Trump have a bond, I am told. Trump does pick people for top jobs he likes. As reported, Treasury Secretary Scott Bessent is leading the search, and could pick himself, which would be interesting to watch as that controversy unfolds. Bessent is highly qualified, though. He made his mark on Wall Street as a savvy hedge fund trader, worked for George Soros, the 94-year-old left-wing financier, who made his own fortune back in the day for shorting (betting against) the pound sterling and 'breaking' the Bank of England during the UK currency crisis. In other words Bessent understands monetary policy as well as anyone and Trump obviously trusts his economic knowledge since he's heading his trade negotiations. His baggage will be making money – maybe too much of it as a speculator. Can't wait for those confirmation hearings.
India.com
12-07-2025
- Business
- India.com
Rs 86000000 in salary: Google, Meta, and OpenAI ready to offer huge money for people with talent in...
Rs 86000000 in salary: Google, Meta, and OpenAI ready to offer huge money for people with talent in… Top Tier Talent Salary: In order to hire special talents, major companies around the world are making changes in their salary structure. Tech giant Google has also made major changes in the way the company pays salaries. It has made changes in the salary to attract good and talented employees. These moves are necessary to stay ahead in the ongoing competition in the field of Artificial Intelligence. Not only Google and Meta but also OpenAI are also offering huge salary packages to talented employees. As per a report by Business Insider, citing US Department of Labour documents, software engineers at Google can get a basic salary of USD34,0000 (approx Rs 3 crore). Apart from the basic salary, the company will also give its shares and bonuses, further increasing the total income. Notably, positions such as Product managers, AI researchers and people working in other technical positions are getting impressive salary packages. Meta Is Offering Huge Salary Google is currently facing a very tough competition from other tech giants such as Meta and OpenAI. These companies are also luring good talents in AI by offering them huge salaries. Meta has also invested huge amount in AI and now hiring AI researchers and engineers to power its Generative AI and Reality Labs division. Meta's significant investment in advanced AI in 2023 is reflected in high salaries for its senior AI researchers, ranging from USD600,000 to USD1 million per anum. The salary also includes bonuses and stock options. OpenAI, backed by Microsoft, also offers competitive packages for senior research engineers. These packages range from USD200,000 to USD370,000 in base salary, reaching USD800,000 to USD1 million with equity and profit-sharing incentives. Why Is There A Salary Increase? The tech giants are increasing the salary packages because they want to keep employees who are capable of enhancing large language models, improving generative AI tools, and developing new technologies. According to experts, these high salary packages are not just for new hires but are also to retain good employees in the company.
eNCA
04-07-2025
- eNCA
Joburg cops in court for alleged theft
JOHANNESBURG - Eight law enforcement officers, including two civilians, will appear on theft charges at the Johannesburg magistrate's court. They've been arrested for allegedly stealing approximately R90,0000 from a shop in Johannesburg The officers allegedly stormed the shop and arrested employees for contravening the Currency Act. But the charges were later withdrawn. The shop owner noticed the cash was missing and reported the matter to the Hawks.
The Advertiser
12-06-2025
- Sport
- The Advertiser
Wimbledon singles champs to receive $A6.3 million
Wimbledon has increased its prize money for this year's championships to 53.5 million pounds ($A112 million), a seven per cent increase on 2024 and double what they offered a decade ago. The All England Lawn Tennis Club (AELTC) announced the prize purse on Thursday, with the singles champions to receive three million pounds ($A6.26m) each, the highest across all grand slams and a 11.1 per cent increase on the prize money Carlos Alcaraz and Barbora Krejcikova took home last year. Singles players who exit the first round will receive 66,000 pounds ($A138,0000, a 10 per cent increase on last year. Doubles prize money has also increased by 4.4 per cent, mixed doubles by 4.3 per cent and the wheelchair and quad wheelchair events by 5.6 per cent. The increase also comes after the world's top players called for significant improvements in prize money at the four grand slams as a way to ensure a more equitable distribution of revenue. "We have listened to the players, we have engaged with the players," AELTC chair Deborah Jevans said. "But the focus on just the prize money at the four events, the grand slams, does not get to the heart of what the challenge is with tennis. "The challenge with tennis is the fact that the players don't have an off-season which they want, they have increasing injuries that they're speaking about." Jevans added that Wimbledon is willing to engage and talk with the tours to try and find solutions but there has not been any proposal as to how the tour is able to change its structure. This year's championships also marks a break with an age old tradition where line judges will be replaced for the first time with the electronic line calling system that is in place at tournaments worldwide. Bolton said "the time is right to move on", adding that many line judges would return in different roles as match assistants, with two assigned per court. "They're extra eyes and ears, the assistant to the chair umpire... We've got about 80 of those across the Championships. "They'll also provide one of the parts of our resilience in the event that the electronic line calling system goes down at any point in time." Wimbledon has increased its prize money for this year's championships to 53.5 million pounds ($A112 million), a seven per cent increase on 2024 and double what they offered a decade ago. The All England Lawn Tennis Club (AELTC) announced the prize purse on Thursday, with the singles champions to receive three million pounds ($A6.26m) each, the highest across all grand slams and a 11.1 per cent increase on the prize money Carlos Alcaraz and Barbora Krejcikova took home last year. Singles players who exit the first round will receive 66,000 pounds ($A138,0000, a 10 per cent increase on last year. Doubles prize money has also increased by 4.4 per cent, mixed doubles by 4.3 per cent and the wheelchair and quad wheelchair events by 5.6 per cent. The increase also comes after the world's top players called for significant improvements in prize money at the four grand slams as a way to ensure a more equitable distribution of revenue. "We have listened to the players, we have engaged with the players," AELTC chair Deborah Jevans said. "But the focus on just the prize money at the four events, the grand slams, does not get to the heart of what the challenge is with tennis. "The challenge with tennis is the fact that the players don't have an off-season which they want, they have increasing injuries that they're speaking about." Jevans added that Wimbledon is willing to engage and talk with the tours to try and find solutions but there has not been any proposal as to how the tour is able to change its structure. This year's championships also marks a break with an age old tradition where line judges will be replaced for the first time with the electronic line calling system that is in place at tournaments worldwide. Bolton said "the time is right to move on", adding that many line judges would return in different roles as match assistants, with two assigned per court. "They're extra eyes and ears, the assistant to the chair umpire... We've got about 80 of those across the Championships. "They'll also provide one of the parts of our resilience in the event that the electronic line calling system goes down at any point in time." Wimbledon has increased its prize money for this year's championships to 53.5 million pounds ($A112 million), a seven per cent increase on 2024 and double what they offered a decade ago. The All England Lawn Tennis Club (AELTC) announced the prize purse on Thursday, with the singles champions to receive three million pounds ($A6.26m) each, the highest across all grand slams and a 11.1 per cent increase on the prize money Carlos Alcaraz and Barbora Krejcikova took home last year. Singles players who exit the first round will receive 66,000 pounds ($A138,0000, a 10 per cent increase on last year. Doubles prize money has also increased by 4.4 per cent, mixed doubles by 4.3 per cent and the wheelchair and quad wheelchair events by 5.6 per cent. The increase also comes after the world's top players called for significant improvements in prize money at the four grand slams as a way to ensure a more equitable distribution of revenue. "We have listened to the players, we have engaged with the players," AELTC chair Deborah Jevans said. "But the focus on just the prize money at the four events, the grand slams, does not get to the heart of what the challenge is with tennis. "The challenge with tennis is the fact that the players don't have an off-season which they want, they have increasing injuries that they're speaking about." Jevans added that Wimbledon is willing to engage and talk with the tours to try and find solutions but there has not been any proposal as to how the tour is able to change its structure. This year's championships also marks a break with an age old tradition where line judges will be replaced for the first time with the electronic line calling system that is in place at tournaments worldwide. Bolton said "the time is right to move on", adding that many line judges would return in different roles as match assistants, with two assigned per court. "They're extra eyes and ears, the assistant to the chair umpire... We've got about 80 of those across the Championships. "They'll also provide one of the parts of our resilience in the event that the electronic line calling system goes down at any point in time." Wimbledon has increased its prize money for this year's championships to 53.5 million pounds ($A112 million), a seven per cent increase on 2024 and double what they offered a decade ago. The All England Lawn Tennis Club (AELTC) announced the prize purse on Thursday, with the singles champions to receive three million pounds ($A6.26m) each, the highest across all grand slams and a 11.1 per cent increase on the prize money Carlos Alcaraz and Barbora Krejcikova took home last year. Singles players who exit the first round will receive 66,000 pounds ($A138,0000, a 10 per cent increase on last year. Doubles prize money has also increased by 4.4 per cent, mixed doubles by 4.3 per cent and the wheelchair and quad wheelchair events by 5.6 per cent. The increase also comes after the world's top players called for significant improvements in prize money at the four grand slams as a way to ensure a more equitable distribution of revenue. "We have listened to the players, we have engaged with the players," AELTC chair Deborah Jevans said. "But the focus on just the prize money at the four events, the grand slams, does not get to the heart of what the challenge is with tennis. "The challenge with tennis is the fact that the players don't have an off-season which they want, they have increasing injuries that they're speaking about." Jevans added that Wimbledon is willing to engage and talk with the tours to try and find solutions but there has not been any proposal as to how the tour is able to change its structure. This year's championships also marks a break with an age old tradition where line judges will be replaced for the first time with the electronic line calling system that is in place at tournaments worldwide. Bolton said "the time is right to move on", adding that many line judges would return in different roles as match assistants, with two assigned per court. "They're extra eyes and ears, the assistant to the chair umpire... We've got about 80 of those across the Championships. "They'll also provide one of the parts of our resilience in the event that the electronic line calling system goes down at any point in time."
Perth Now
12-06-2025
- Sport
- Perth Now
Wimbledon singles champs to receive $A6.3 million
Wimbledon has increased its prize money for this year's championships to 53.5 million pounds ($A112 million), a seven per cent increase on 2024 and double what they offered a decade ago. The All England Lawn Tennis Club (AELTC) announced the prize purse on Thursday, with the singles champions to receive three million pounds ($A6.26m) each, the highest across all grand slams and a 11.1 per cent increase on the prize money Carlos Alcaraz and Barbora Krejcikova took home last year. Singles players who exit the first round will receive 66,000 pounds ($A138,0000, a 10 per cent increase on last year. Doubles prize money has also increased by 4.4 per cent, mixed doubles by 4.3 per cent and the wheelchair and quad wheelchair events by 5.6 per cent. The increase also comes after the world's top players called for significant improvements in prize money at the four grand slams as a way to ensure a more equitable distribution of revenue. "We have listened to the players, we have engaged with the players," AELTC chair Deborah Jevans said. "But the focus on just the prize money at the four events, the grand slams, does not get to the heart of what the challenge is with tennis. "The challenge with tennis is the fact that the players don't have an off-season which they want, they have increasing injuries that they're speaking about." Jevans added that Wimbledon is willing to engage and talk with the tours to try and find solutions but there has not been any proposal as to how the tour is able to change its structure. This year's championships also marks a break with an age old tradition where line judges will be replaced for the first time with the electronic line calling system that is in place at tournaments worldwide. Bolton said "the time is right to move on", adding that many line judges would return in different roles as match assistants, with two assigned per court. "They're extra eyes and ears, the assistant to the chair umpire... We've got about 80 of those across the Championships. "They'll also provide one of the parts of our resilience in the event that the electronic line calling system goes down at any point in time."
