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Omaha (US), Nov 25 (AP) Investor Warren Buffett renewed his Thanksgiving tradition of giving by announcing plans Monday to hand more than USD 1.1 billion of Berkshire Hathaway stock to four of his family's foundations, and he offered new details about who will be handing out the rest of his fortune after his death. Buffett has said previously that his three kids will distribute his remaining USD 147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it's possible that Buffett's children could die before giving it all away. He didn't identify the successors, but said his kids all know them and agree they would be good choices. Also Read | Chinmoy Krishna Das Brahmachari Arrested in Bangladesh: Police Arrest Former ISKCON Leader Chandan Kumar Dhar From Dhaka Airport. “Father time always wins. But he can be fickle – indeed unfair and even cruel – sometimes ending life at birth or soon thereafter while, at other times, waiting a century or so before paying a visit,” the 94-year-old Buffett said in a letter to his fellow shareholders. “To date, I've been very lucky, but, before long, he will get around to me. There is, however, a downside to my good fortune in avoiding his notice. The expected life span of my children has materially diminished since the 2006 pledge. They are now 71, 69 and 66.” Buffett said he still has no interest in creating dynastic wealth in his family — a view shared by his first and current wives. He acknowledged giving Howard, Peter and Susie millions over the years, but he has long said he believes “hugely wealthy parents should leave their children enough so they can do anything but not enough that they can do nothing”. Also Read | Poland Shocker: Man Fatally Shoots His Parents and Brother During Family Gathering in Namyslow, Takes Own Life. The secret to building up such massive wealth over time has been the power of compounding interest and the steady growth of the Berkshire conglomerate Buffett leads through acquisitions and smart investments like buying billions of dollars of Apple shares as iPhone sales continued to drive growth in that company. Buffett never sold any of his Berkshire stock over the years and also resisted the trappings of wealth and never indulged in much — preferring instead to continue living in the same Omaha home he'd bought decades earlier and drive sensible luxury sedans about 20 blocks to work each day. “As a family, we have had everything we needed or simply liked, but we have not sought enjoyment from the fact that others craved what we had,” he said. If Buffett and his first wife had never given away any of their Berkshire shares, the family's fortune would be worth nearly USD 364 billion — easily making him the world's richest man — but Buffett said he had no regrets about his giving over the years. The family's giving began in earnest with the distribution of Susan Buffett's USD 3 billion estate after her death in 2004, but really took off when Warren Buffett announced plans in 2006 to make annual gifts to the foundations run by his kids along with the one he and his wife started, as well as the Bill and Melinda Gates Foundation. Warren Buffett's giving to date has favoured the Gates Foundation with USD 55 billion in stock because his friend Bill Gates already had his foundation set up and could handle huge gifts when Buffett started giving away his fortune. But Buffett has said his kids now have enough experience in philanthropy to handle the task and he plans to cut off his Gates Foundation donations after his death. Buffett always makes his main annual gifts to all five foundations every summer, but for several years now he has been giving additional Berkshire shares to his family's foundations at Thanksgiving. Buffett reiterated Monday his advice to every parent to allow their families to read their will while they are still alive — like he has done — to make sure they have a chance to explain their decisions about how to distribute their belongings and answer their children's questions. Buffett said he and his longtime investing partner Charlie Munger, who died a year ago, “saw many families driven apart after the posthumous dictates of the will left beneficiaries confused and sometimes angry”. Today, Buffett continues to lead Berkshire Hathaway as chairman and CEO and has no plans to retire although he has handed over most of the day-to-day managing duties for the conglomerates dozens of companies to others. That allows him to focus on his favourite activity of deciding where to invest Berkshire's billions. One of Buffett's deputies who oversees all the noninsurance companies now, Greg Abel, is set to take over as CEO after Buffett's death. (AP) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)NEW YORK (AP) — U.S. stocks are rising toward records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.5% and was on track to top its all-time high set a couple weeks ago. The Dow Jones Industrial Average added 81 points, or 0.2%, to its own record set the day before, while the Nasdaq composite was 0.5% higher, with less than an hour remaining in trading. Stock markets abroad were down, but mostly only modestly, after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada's main index edged down by just 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. General Motors sank 8.2%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.9%. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support to the job market . While lower interest rates can boost the overall economy and prices for investments, they can also offer more fuel for inflation. “Many” officials at the Fed's last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. Unlike tariffs in Trump's first term, his proposal from Monday night would affect products across the board. Trump’s tariff talk came almost immediately after U.S. stocks rose Monday amid excitement about his pick for Treasury secretary, Scott Bessent. The hope was the hedge-fund manager could steer Trump away from policies that balloon the U.S. government deficit, which is how much more it spends than it takes in through taxes and other revenue. The talk about tariffs overshadowed another set of mixed profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates instituted by the Fed to get inflation under control. Kohl’s tumbled 17.6% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.7% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. J.M. Smucker jumped 5.4% for one of the biggest gains in the S&P 500 after topping analysts' expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 2.8% for Amazon and 2% for Microsoft were the two strongest forces lifting the S&P 500. In the bond market, Treasury yields rose following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury climbed to 4.30% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It's since dipped back toward $91,600, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed.
NEW YORK (AP) — There's no place like home for the holidays. And that may not necessarily be a good thing. In the wake of the very contentious and divisive 2024 presidential election, the upcoming celebration of Thanksgiving and the ramp-up of the winter holiday season could be a boon for some — a respite from the events of the larger world in the gathering of family and loved ones. Hours and even days spent with people who have played the largest roles in our lives. Another chapter in a lifetime of memories. That's one scenario. For others, that same period — particularly because of the polarizing presidential campaign — is something to dread. There is the likelihood of disagreements, harsh words, hurt feelings and raised voices looming large. Those who make a study of people and their relationships to each other in an increasingly complex 21st-century say there are choices that those with potentially fraught personal situations can make — things to do and things to avoid — that could help them and their families get through this time with a minimum of open conflict and a chance at getting to the point of the holidays in the first place. DO assess honestly where you are with it all For those who feel strongly about the election's outcome, and know that the people they would be spending the holiday feel just as strongly in the other direction, take the time to honestly assess if you're ready to spend time together in THIS moment, barely a few weeks after Election Day — and a time when feelings are still running high. The answer might be that you're not, and it might be better to take a temporary break, says Justin Jones-Fosu, author of “I Respectfully Disagree: How to Have Difficult Conversations in a Divided World.” “You have to assess your own readiness,” he says, “Each person is going be very different in this.” He emphasizes that it's not about taking a permanent step back. “Right now is that moment that we’re talking about because it’s still so fresh. Christmas may be different.” DON’T miss the bigger picture of what the holiday is all about Keep focused on why why you decided to go in the first place, Jones-Fosu says. Maybe it’s because there’s a relative there you don’t get to see often, or a loved one is getting up in age, or your kids want to see their cousins. Keeping that reason in mind could help you get through the time. DO set boundaries If you decide getting together is the way to go, but you know politics is still a dicey subject, set a goal of making the holiday a politics-free zone and stick with it, says Karl Pillemer, a professor at Cornell University whose work includes research on family estrangement. “Will a political conversation change anyone’s mind?" he says. “If there is no possibility of changing anyone’s mind, then create a demilitarized zone and don’t talk about it.” DON’T take the bait Let’s be honest. Sometimes, despite best efforts and intentions to keep the holiday gathering politics- and drama-free, there’s someone who’s got something to say and is going to say it. In that case, avoid getting drawn into it, says Tracy Hutchinson, a professor in the graduate clinical mental health counseling program at the College of William & Mary in Virginia. “Not to take the hook is one of the most important things, and it is challenging,” she says. After all, you don’t have to go to every argument you’re invited to. DO think about what will happen after the holiday If you risk getting caught up in the moment, consider engaging in what Pillemer calls “forward mapping.” This involves thinking medium and long term rather than just about right now — strategy rather than tactics. Maybe imagine yourself six months from now looking back on the dinner and thinking about the memories you'd want to have. “Think about how you would like to remember this holiday,” he says. “Do you want to remember it with your brother and sister-in-law storming out and going home because you’ve had a two-hour argument?” DON'T feel you have to be there uninterrupted Things getting intense? Defuse the situation. Walk away. And it doesn't have to be in a huff. Sometimes a calm and collected time out is just what you — and the family — might need. Says Hutchinson: “If they do start to do something like that, you could say, `I’ve got to make this phone call. I’ve got to go to the bathroom. I’m going to take a walk around the block.'"Pokemon TCG streamer under fire for opening packs while driving on highway
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Oslo, November 24: A former village doctor in Norway, Arne Bye, 55, is standing trial for what is being called the country's largest sex scandal. Bye is accused of raping 87 women and abusing his position to obtain sexual contact with 94 victims, including two minors, over a span of 20 years. His alleged crimes were recorded on over 6,000 hours of video footage seized during the investigation. Dailymail reported that the victims, aged between 14 and 67 at the time, were reportedly assaulted during gynecological examinations at his clinic in Frosta, a small town of 2,600 residents where Bye had long been a trusted public figure. According to the indictment, he allegedly used non-medical objects such as deodorant-like and cylindrical items during invasive procedures, actions described as unnecessary and painful. One victim, referred to as "Woman 18," recounted being subjected to an invasive examination after visiting Bye for a sore throat. Despite her discomfort, she complied because he was her doctor. She testified that the pain was so severe she thought she might die. France Shocker: Man Rapes Daughter For Years, Offers Her to Strangers For Sex; Sentenced to 20 Years in Jail . The prosecution has presented video evidence, some of which shows Bye positioning cameras around patients before beginning his examinations. Prosecutor Richard Haugen Lyng described the evidentiary situation as unique due to the abundance of recorded material, much of it graphic. Bye has admitted to filming the appointments, claiming it was to protect himself from potential lawsuits, though he denies watching the videos outside the context of the case. France Mass Rape Trial: Man Accused of Drugging His Wife So 72 Men Could Sexually Assault Her Is Testifying in French Court . In court, Bye pleaded guilty to three counts of rape and 35 charges of abuse of position but denies most other allegations. The trial has heard from multiple victims, including one who said Bye conducted repeated and lengthy examinations despite her having no abdominal complaints. Another victim testified that her sister and daughter were also among the alleged victims. The investigation began in 2022 after health authorities alerted police about Bye's suspicious behaviour. Concerns about him had been raised as early as 2006 by a gynecologist at a nearby hospital, but no formal action was taken until charges were filed in 2023. Despite the severity of the accusations, Bye has not been remanded in custody, though police continue to monitor him. The trial, which has deeply shaken the Frosta community, remains ongoing. Bye faces a potential 21-year prison sentence if convicted. (The above story first appeared on LatestLY on Nov 24, 2024 11:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com ).
The former Geordie Shore star, who is nearly eight months pregnant, thanked a security company “for all the hard work this week” after adding the protections to her home. “Trebling our security measures, worth every penny to feel safe again in my own home,” the 34-year-old said in a post to her Instagram story. “Scumbags are gunna get a big shock the next time they even step foot on any perimeter of my land.” It comes after her fiance, Jake Ankers, said on social media that a group of men carrying a machete entered their home on Thursday evening while they were in the house with their two-year-old daughter. The businessman said one of the four men “had a red balaclava on” and was carrying the weapon at the top of the stairs. Durham Constabulary were alerted at 7pm on Thursday to reports of an aggravated burglary in Houghton-le-Spring, a town in the Sunderland area. A spokeswoman for the force said: “Officers attended the area, however the suspects left the scene before their arrival. “Nobody was injured in the incident and no items are believed to have been taken.” She added that an investigation is under way and anyone with information is asked to contact police. After the incident, Crosby was admitted to hospital after experiencing “serious pains” in her stomach, but confirmed her baby is “all fine”. Ankers appeared with the reality star on BBC Three reality show Charlotte In Sunderland. Crosby is best known for appearing in the MTV reality series Geordie Shore and winning the 12th series of Celebrity Big Brother in 2013. She and Ankers got engaged in October 2023 after she gave birth to their first child in 2022.ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND, INC. SPECIAL DISTRIBUTION
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CHICAGO--(BUSINESS WIRE)--Dec 6, 2024-- The board of directors of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today declared a quarterly dividend of 45.5 cents per share, payable Jan. 31, 2025, to shareholders of record as of Jan. 3, 2025. The five-cent, or 12.3%, increase from the prior quarterly rate of 40.5 cents per share results in an expected annualized dividend of $1.82 per share compared with the prior annualized rate of $1.62 per share. While subsequent dividends will be subject to board approval, the company expects to pay three additional dividends in 2025: About Morningstar, Inc. Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and solutions that serve a wide range of market participants, including individual and institutional investors in public and private capital markets, financial advisors and wealth managers, asset managers, retirement plan providers and sponsors, and issuers of fixed-income securities. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $328 billion in AUMA as of Sept. 30, 2024. The Company operates through wholly-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company . Follow Morningstar on X (formerly known as Twitter) @MorningstarInc. Caution Concerning Forward-Looking Statements This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as “consider,” “future,” “maintain,” “may,” “expect,” “potential,” “anticipate,” “believe,” “continue,” “will,” or the negative thereof, and similar expressions. These statements, including statements regarding future dividend payments, involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. For us, these risks and uncertainties include, among others, failing to maintain and protect our brand, independence, and reputation; failure to prevent and/or mitigate cybersecurity events and the failure to protect confidential information, including personal information about individuals; compliance failures, regulatory action, or changes in laws applicable to our credit ratings operations, investment advisory, environmental, social, and governance, and index businesses; failing to innovate our product and service offerings, or anticipate our clients’ changing needs; the impact of artificial intelligence and related technologies on our business, legal, and regulatory exposure profile and reputation; failing to detect errors in our products or the failure of our products to perform properly due to defects, malfunctions, or similar problems; failing to recruit, develop, and retain qualified employees; prolonged volatility or downturns affecting the financial sector, global financial markets, and the global economy and its effect on our revenue from asset-based fees and our credit ratings business; failing to scale our operations and increase productivity in order to implement our business plans and strategies; liability for any losses that result from errors in our automated advisory tools or errors in the use of the information and data we collect; inadequacy of our operational risk management, business continuity programs and insurance coverage in the event of a material disruptive event; failing to close, or achieve the anticipated economic or other benefits of, a strategic transaction on a timely basis or at all; failing to efficiently integrate and leverage acquisitions and other investments, which may not realize the expected business or financial benefits, to produce the results we anticipate; failing to maintain growth across our businesses in today's fragmented geopolitical, regulatory, and cultural world; liability relating to the information and data we collect, store, use, create, and distribute or the reports that we publish or are produced by our software products; the potential adverse effect of our indebtedness on our cash flows and financial and operational flexibility; challenges in accounting for tax complexities in the global jurisdictions which we operate in and their effect on our tax obligations and tax rates; and failing to protect our intellectual property rights or claims of intellectual property infringement against us. A more complete description of these risks and uncertainties, among others, can be found in our filings with the Securities and Exchange Commission (SEC), including our most recent Reports on Forms 10-K and 10-Q. If any of these risks and uncertainties materialize, our actual future results and other future events may vary significantly from what we expect. We do not undertake to update our forward-looking statements as a result of new information, future events or otherwise, except as may be required by law. You are, however, advised to review any further disclosures we make on related subjects, and about new or additional risks, uncertainties and assumptions in our filings with the SEC on Forms 10-K, 10-Q, and 8-K. ©2024 Morningstar, Inc. All Rights Reserved. MORN-C View source version on businesswire.com : https://www.businesswire.com/news/home/20241205277268/en/ Landon Hudson, +1 312 696-6037 ornewsroom@morningstar.com KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: BANKING ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE SOURCE: Morningstar, Inc. Copyright Business Wire 2024. PUB: 12/06/2024 04:15 PM/DISC: 12/06/2024 04:13 PM http://www.businesswire.com/news/home/20241205277268/en