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- Billionaire says Mamdani’s ‘tax the rich’ video outside his NYC ap...
Citadel founder and CEO Ken Griffin described New York City Mayor Zohran Mamdani’s "tax the rich" video targeting him as a "creepy and weird" political advertisement.Speaking at the Milken Conference in Los Angeles on Tuesday, Griffin said Mamdani’s "frightening" video reaffirmed his decision to "double down" on business in Miami."Mamdani has made it very clear—New York does not welcome success," Griffin said during the panel.MAMDANI'S CLASH WITH BILLIONAIRE PUTS NYC STREET FOOD VENDORS IN THE CROSSHAIRSOn April 15, Mamdani posted a video highlighting Griffin’s property while announcing a new pied-à-terre tax.The video shows Mamdani—who has pledged to raise taxes on wealthy New Yorkers—standing outside Griffin’s 24,000-square-foot property. Griffin purchased the home in 2019 for $238 million, the most expensive residential sale in U.S. history."This is an annual fee on luxury properties worth more than $5 million whose owners do not live full-time in the city—like this penthouse, which hedge fund CEO Ken Griffin bought for $238 million," Mamdani said while announcing the proposal.Following the video, Citadel COO Gerald Beeson suggested that plans for the firm’s skyline project at 350 Park Avenue could be reconsidered.NEW HAMPSHIRE GOVERNOR RECRUITS NYC BUSINESS OWNERS FLEEING MAMDANI 'REGIME'"We are about to commence the redevelopment of 350 Park Avenue, creating 6,000 highly paid construction jobs and supporting more than 15,000 permanent jobs in Midtown New York," Beeson wrote in an April 23 memo to employees."The project—if we move forward—will involve more than $6 billion in spending," he added.Griffin said Tuesday that the project’s future remains "a point of discussion" within the company.Mayor Mamdani's office did not immediately return Fox Business' request for comment. DESANTIS BLASTS NYC’S ‘BALLISTIC PODIATRY’ AFTER ZOHRAN MAMDANI WINS MAYOR’S RACE AND FLORIDA EXPECTS EXODUSCitadel is currently building a new headquarters in Miami. Griffin told the Milken audience that the tower’s design is being revised to "make it bigger," adding that Florida’s leadership has demonstrated stronger support for pro-business policies.Griffin, who founded Citadel and Citadel Securities, previously moved both firms from Chicago to Miami following the COVID-19 pandemic. He has frequently criticized leadership in Chicago and the broader state of Illinois.On Tuesday, Griffin said his dispute with Mamdani is "triggering the trauma" he "experienced in Chicago."MAHER DEFENDS CAPITALISM AS BETTER THAN 'REVERSE,' CALLS OUT MAMDANI'S SOCIALIST BELIEFSWith an estimated net worth of $51 billion, Griffin ranks among the world’s 35 richest people. He has also said Mamdani’s video reflects a "profound lack of judgment."Speaking… [TheTopNews] Read More.2 hours ago - SEC releases proposal to usher Wall Street into optional semiannual reportingU.S. financial regulators are proposing to switch required filings for publicly traded companies from quarterly reporting to semiannual.The Securities and Exchange Commission on Tuesday released its amended proposal for optional semiannual reporting for companies on Wall Street. SEC officials say the change in frequency of reporting won’t impact the type of information disclosed publicly. Companies will be expected to file a new form called Form 10-S in lieu of the traditional Form 10-Q if they choose to report twice a year.SEC Chairman Paul Atkins says this proposal will allow for more freedom between companies and investors.BAY AREA BANKER WANTS TO SWAP HIS $8M ESTATE FOR AI COMPANY STOCK"The rigidity of the SEC’s rules has prevented companies and their investors from determining for themselves the interim reporting frequency that best serves their business needs and investors," Atkins said in a statement. "Today’s proposed amendments, if ultimately adopted, would provide companies with increased regulatory flexibility in this regard."However, some investors are skeptical about how this benefits anyone other than the companies.Gary Kaltbaum, president of Kaltbaum Capital Management and a FOX Business contributor, said this will pave the way for less clarity for investors to make decisions on Wall Street.COULD S&P 500 ETFS ALONE FUND YOUR ENTIRE RETIREMENT?"The No. 1 reason why stocks do well is because of their earnings reports," Kaltbaum said. "And now that you're going to separate it by six months, that's tough going for investors to try and figure out what's going on with a company when you're not going to hear from them in six months."The SEC attempted to ease the concerns of investors, saying corporations can still hold quarterly earnings calls even if they choose semiannual reporting. The Wall Street regulator says they’re not mutually exclusive, but critics are skeptical that companies would bother with quarterly earnings calls since they don’t have to make public disclosures as frequently.US ETF ASSETS UNDER MANAGEMENT TO MORE THAN DOUBLE TO $25T BY 2030, CITIGROUP SAYSUnder the current proposal, companies will be given the opportunity to opt-in for semiannual reporting at the start of every fiscal year. If companies don’t like the new reporting practices, then they can opt back into quarterly reporting the following fiscal year.The SEC says the public comment period will be open for the next 60 days after publishing the proposal in the Federal Register.GET FOX BUSINESS ON THE GO BY CLICKING HERE [TheTopNews] Read More.3 hours ago
- Border politics – how similar jobs in the same firm deliver different tax ...
Workers in southern Scotland can find themselves paying more tax than colleagues who live south of the border. [TheTopNews] Read More.3 hours ago - ‘I have to make my own dog food’ – voters counting living cost...India Lerigo makes her own dog food and batch cooks a month's worth of meals over a weekend to save money. [TheTopNews] Read More.3 hours ago
- LARRY KUDLOW: Trump must make it clear that America owns the entire Arabian Gulf...Project Freedom to have the United States Navy open up the Strait of Hormuz for commercial vessels and most importantly oil supertankers is on its own merits a terrific idea. And according to analysts, the Navy has charted a pathway to Oman, away from Iran and fortified by military protection. Sea mines have been cleared, a protective dome stretching well into Iran has been set up. All this is terrific. It’s a great move.It’s kind of the flip side of the Iranian port blockade, which has now turned around 51 ships at last count. That blockade was also a brilliant strategic move by President Trump and our military. No oil sales, no money for Iran. No making payroll for the Islamic Revolutionary Guard Corps. Nothing but bankrupt businesses. And all the looting and robbing of moneys taken from the people of Iran and transferred into offshore bank accounts has been frozen or even outright seized by Secretary Scott Bessent’s Treasury plan to prevent the criminals running Iran from ever getting their stolen stash and somehow living high on the hog even after they are totally defeated and obliterated by the Israeli-American coalition. In other words, the embargo is working.Now we come back to Project Freedom, which officially started Monday. It must prove its worth as rapidly as possible. As far as we know, only 2 commercial ships have yet gotten through. There are however 1,550 commercial vessels sitting at the top of the Arabian Gulf. Most of it is oil. The fact that it’s still sitting there is one key reason why oil prices and gasoline at the pump have jumped up so high.So the trick here is to get Project Freedom totally geared up so we can be talking about 30 ships, then 50 ships getting through, then 100 ships. At which point, oil prices will start coming down quite a bit. If we don’t, then we risk some embarrassment. And Iran will squawk about it.Mr. Trump can’t seem to make up his mind just yet about breaking the ceasefire and starting the next round of bombing missions. On "The Hugh Hewitt Show," he was asked "Is the ceasefire over, Mr. President? Is it over? Are we going to hit them tonight?" Mr. Trump replied: "Well, I can’t tell you that."At the White House today, a reporter asked: "What do they need to do to violate the ceasefire?" Mr.… [TheTopNews] Read More.3 hours ago
- AMC to screen live concerts through Arena One partnership
More than 300 AMC locations in 89 markets across the U.S. will be programmed for live concert screenings. Tickets will range from $40 to $75. [TheTopNews] Read More.3 hours ago
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