CEO of Jefferies Rich Handler (left) and CEO of Mastro's Restaurants Tilman Fertitta (right) attend the Mastro's Steakhouse Grand Opening Celebration on November 11, 2014 in New York City. Rob Kim/Getty Images Jefferies CEO Rich Handler sold $65 million in company stock to buy a luxury yacht. He's buying a Westport 164 from his friend and Jefferies client Tilman Fertitta. Handler isn't planning any more stock sales, he said on Wednesday. Jefferies CEO Rich Handler sold $65 million of his stock in the company to buy himself a gift — a luxury yacht. Handler sold 1.5 million shares, or 7% of hi ..read more

Nicolai Tangen at a press conference just after he was appointed new general manager of Norges Bank Investment Management, on May 28, 2020 in Oslo. HAKON MOSVOLD LARSEN/NTB Scanpix/AFP via Getty Images The CEO of Norges Bank told the FT that he thinks Americans work much harder than Europeans. Nicolai Tangen made the remark as he explained the sovereign fund's push toward investing in the US. About half of the $1.6 trillion oil fund's equities are now invested in the US. Europeans are less ambitious and don't work as hard as Americans, said Nicolai Tangen, the CEO of Norway's $1.6 trillion o ..read more

Management consultancy McKinsey has paid nearly $1 billion to states, Native American tribes, and other groups to resolve opioid-related lawsuits. Fabrice Coffrini/AFP via Getty Images The Department of Justice is investigating McKinsey for advising opioid producers on boosting sales. The firm previously paid nearly $1 billion to resolve lawsuits related to its opioid work. The investigation is also looking at potential obstruction of justice by McKinsey and its employees. Premier consultancy McKinsey & Company is under investigation by the US Department of Justice for its past work advi ..read more

The 39-year-old Dnipro resident was caught trying to paddle his way out of Ukraine. State Border Service of Ukraine A man was caught trying to leave Ukraine via the Dniester River — on an air mattress. Ukrainian border agents found him paddling with his arms in an attempt to reach Moldova. The border service said he was paying another person $4,200 for advice on the crossing. Ukraine's border service said on Wednesday that it caught a man attempting to cross into Moldova by "swimming" on an inflatable mattress in the Dniester River. The State Border Service released footage of the 39-year-ol ..read more

The unhoused population in Bozeman, Montana, has grown 50% since 2020, with urban camping making the problem more visible. DianeBentleyRaymond/Getty Images People living in RVs or cars has surged in Bozeman, Montana, as housing costs have spiked. "Urban camping" has made the city's unhoused population more visible. Bozeman has the highest rents of any city in Montana, which is dealing with rising housing costs across the state. So-called urban camping — when people live in RVs or vehicles parked on city streets — has risen rapidly in Bozeman, Montana, where locals are getting priced out by r ..read more

Former President Trump at rally in Ohio March 16, 2024. Scott Olson/Getty Images Rudy Giuliani and Mark Meadows are among those indicted in an Arizona election interference case. Multiple Trump allies and Arizona GOPers were charged with felony counts, including conspiracy. The indictment also appeared to list former President Donald Trump as "Unindicted Coconspirator 1." Prosecutors charged Rudy Giuliani, Mark Meadows, and a slate of Arizona Republicans with multiple felonies in a 58-page indictment made public on Wednesday. The charges are related to what prosecutors allege were efforts to ..read more

Meta CEO Mark Zuckerberg Brendan Smilalowski/AFP via Getty, Tyler Le/BI Mark Zuckerberg has recently become "more ambitious" about Meta's ability to win in AI. He now plans to spend around $40 billion this year, largely on AI investments. In the next few years, Zuckerberg sees three ways AI can become a "massive business" for Meta. Mark Zuckerberg is now convinced that Meta is a top AI company, and he even knows how the technology will become a significant source of profit in the years ahead. With the recent release of Llama 3, Meta's latest AI model, Zuckerberg said he became "more ambitiou ..read more

Mark Zuckerberg threw shade at the Apple Vision Pro again. Pablo Porciuncula/Getty Mark Zuckerberg appeared to take a jab at Apple's Vision Pro during Meta's Q1 earnings call. The CEO said he sees a mainstream market for AI glasses without a display. Meta's smart glasses, developed with Ray-Ban, feature AI, a camera, and built-in speakers. Meta CEO Mark Zuckerberg seemed to take a hit at Apple's Vision Pro in Meta's first-quarter earnings call on Wednesday. Zuckerberg said he didn't think augmented reality glasses would make it in the mainstream market until it had "full holographic displays ..read more

Chipotle says California's new fast food minimum wage laws drove a 20% increase in wages for its restaurant staff in the state. Justin Sullivan/Getty Images The effects of California's $20 minimum wage for fast food workers are starting to show. Chipotle said the law raised wages at its restaurants by roughly 20%. This translated to a 7% menu price increase at Chipotle locations in California.  California's $20 wage for fast food workers is just a few weeks old, and the effects on workers and customers are beginning to emerge. At Chipotle, the law drove a 20% increase in wages for its r ..read more

Michael Cohen and former President Donald Trump. REUTERS/Eduardo Munoz; Joe Raedle/Getty Images Michael Cohen said he would briefly stop talking about Donald Trump during Trump's Manhattan criminal trial. Cohen is a key witness to what prosecutors allege was a scheme to falsify business records to cover up hush money. But until now, Cohen has continued to talk about Trump and the case. Michael Cohen, Donald Trump's ex-personal attorney, has now pledged to stop talking about the former president until after his testimony in the former president's ongoing hush-money trial over. "Despite not be ..read more