The Mormon Church Accumulated $100B.Best-Kept Secret in the Financial Investment World

The Mormon Church Accumulated $100B.Best-Kept Secret in the Financial Investment World

Salt Lake City For more than half a century, the Mormon Church quietly built one of the world’s largest investment funds. Almost no one outside the church knew about it. Some of that mystery evaporated late last year when a former employee revealed in a whistleblower complaint with the Internal Revenue Service that the fund,…

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BOOM: Bezos Buys Geffen’s LA Mansion for Record $165 Million …

BOOM: Bezos Buys Geffen’s LA Mansion for Record $165 Million …

Amazon Chief Executive Jeff Bezos has purchased the Warner Estate from media mogul David Geffen for $165 million, according to people familiar with the transaction. The deal marks a record for the Los Angeles area. The previous residential record was set late last year, when media executive Lachlan Murdoch paid roughly $150 million for Chartwell,…

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Why You Ought To Never Buy Ski Equipment Again

Why You Ought To Never Buy Ski Equipment Again

UNTIL RECENTLY my ski vacations have begun with frustration. I’ve muscled a mountain of equipment into several duffels for the plane and torched my Amex with baggage fees only to stuff everything into the always-smaller-than-advertised rental car when I land. The only real alternative was renting scuffed-up gear at the resort. No more. Now online…

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Iowa Caucuses – Trump Project Ejects Bloomberg News Reporter From Iowa Press Conference

Iowa Caucuses – Trump Project Ejects Bloomberg News Reporter From Iowa Press Conference

Sue Ogrocki/APPresident Trump is expected to handily win Iowa’s Republican caucuses. But his re-election campaign was preparing to pull out all the stops in the state anyway. Late Monday afternoon, the president’s campaign held a press conference in advance of plans to flood GOP caucus sites with over 80 surrogates. The West Des Moines hotel…

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Harvey Weinstein District Attorneys Are Paving Way for Possible Appeal – Wall Street Journal

Harvey Weinstein District Attorneys Are Paving Way for Possible Appeal – Wall Street Journal

Harvey Weinstein’s defense attorneys are following a classic strategy, seizing on what they say are prosecutorial missteps and misguided judicial rulings to build a case for a potential appeal after the Hollywood producer’s rape trial. Mr. Weinstein’s defense team has objected to allegedly withheld information about potential witnesses, highlighted a juror with perceived conflicts of…

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SENATE REJECTS WITNESSES

SENATE REJECTS WITNESSES

WASHINGTON—Senate Republicans rejected Democrats’ demands to call new witnesses and documents in President Trump’s impeachment trial, clearing the way for an acquittal on abuse of power and obstruction-of-Congress charges next week. The 51-49 vote late Friday afternoon represented a major victory for Republican leadership, which has sought to complete the trial as quickly as possible…

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Turning Tech-Driven Turbulence into Opportunities for Future Development – Wall Street Journal

Turning Tech-Driven Turbulence into Opportunities for Future Development – Wall Street Journal

ByIrving Wladawsky-Berger Jan 31, 2020 1:16 pm ET Shrinking company lifespans in the S&P 500 is a useful indicator of marketplace turbulence, driven to a large extent by technology disruptions and business model changes.  In 2000, the top five companies by market value were classic industrial age companies: General Electric Co., ExxonMobil Corp., Pfizer Inc.,…

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China’s Once-Hot Peer-to-Peer Financing Service Is Withering – The Wall Street Journal

China’s Once-Hot Peer-to-Peer Financing Service Is Withering – The Wall Street Journal

BEIJING—China’s peer-to-peer lending industry, once a world-beater, is on its last legs. Entrepreneurs had hoped to fill a gap in the Chinese financial system ignored by state-backed banks. Thousands of peer lenders flourished, gathering funds from small investors and extending credit to family restaurants, parents with tuition bills to pay and other small borrowers. Several…

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