Wells Fargo to Name CEO Charlie Scharf Chairman
Wells Fargo on Thursday said its board has also awarded Scharf a one-time special equity grant consisting of $30 million in restricted share rights and nearly 1.05 million stock options.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
Convicted Idaho murderer Bryan Kohberger moved to solitary confinement, KTVB reports
Bryan Kohberger, who pleaded guilty to the 2022 murders of four University of Idaho students, has been moved to solitary confinement, CNN affiliate KTVB reported. Kohberger has been transferred to long-term restrictive housing in J Block at the Idaho Maximum Security Institution, an Idaho Department of Corrections (IDOC) spokesperson told KTVB on Thursday. Located about nine miles south of Boise, the facility is Idaho's only maximum-security prison and houses some of the state's 'most disruptive male residents.' Kohberger's listing on the IDOC's website confirms he is housed on J Block. CNN has reached out to the department for further details. J Block can house up to 128 people, including those in protective custody and on death row, according to KTVB. Inmates in long-term restrictive housing are held in single-person cells, moved in restraints, allowed one hour of outdoor recreation daily and permitted to shower every other day, IDOC told KTVB. Kohberger was placed in solitary confinement more than a week after being sentenced to life in prison without parole. He declined to speak during his sentencing hearing in late July. The victims' families say they still don't know his motive. The Idaho Maximum Security Institution has faced criticism for its conditions and treatment of inmates in solitary confinement. Last year 90 inmates organized a six-day hunger strike to protest delays in access to medical care, long bouts of isolation and 'cages' used for recreational time, the Idaho Statesman reported. Some inmates described the 'cages' as large chain link-like metal boxes, littered with urine and feces. Other men housed in a lower-security section told the Statesman the space is often littered with trash and bodily fluids, claiming the facility's ventilation system hasn't been cleaned in decades. The IDOC told CNN in July the 'recreation enclosures' are regularly cleaned, and individuals can request vent cleaning in their cells if needed. Following the hunger strike, the department said it 'developed ways to increase vocational and educational opportunities, religious services, and recreation opportunities.' 'Safety is our number one priority for everyone living and working in our facilities,' the department told CNN. The prison's strict solitary confinement policies have also drawn concern. Kevin Kempf, who served as director of the IDOC in 2016, told CNN affiliate KBOI at the time that inmates were confined alone for up to 23 hours a day with little human interaction, received meals in their cells, and were allowed showers only three times a week. The corrections' department has since implemented a step-down program that gradually transitions inmates from solitary confinement to a more open environment, including stages where they can interact with others, KBOI reported. In its statement to CNN, the department said: 'Long term restrictive housing is not a disciplinary sanction, it is a housing assignment designed to manage specific behaviors.'
Yahoo
27 minutes ago
- Yahoo
58-Year-Old Lottery Winner Tried To Strike A Deal With Teen Son, But Backed Out When The 19-Year-Old Wanted 80% —'I Didn't Realize How Greedy He Was'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. We all daydream about winning the lottery. Maybe it's a beach house. Maybe it's early retirement. Or maybe—if you're a parent—you imagine setting your kid up for life. That's exactly what a 58-year-old father tried to do when he hit the jackpot with a $1,000-a-day-for-life prize. But instead of gratitude, he got a negotiation that made him rethink everything. In a viral Reddit post, the dad explained how he approached his 19-year-old son with a plan: he'd hand over the winning ticket, and in return, the son would give him half the money until the father passed. After that, the son would receive 100% of the daily payout for the rest of his life. Related: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $10. Although he didn't spell out all the logic, the intent seemed clear: his son, being 19, had a much longer life expectancy and could benefit from the "for life" prize far longer than he could. The father was essentially trying to gift his son a lifetime of financial security—while covering himself with a fair 50/50 arrangement in the meantime. The teen's response? Not exactly a warm embrace. "He came back and said it wasn't really fair for me to want half," the dad wrote. "He said that I could live another 40 years. That he might need the money more and that I should take 20%." So the dad thought about it—and then signed the ticket and claimed the lump sum himself. He's now working with a lawyer to set his son up in other ways: college will be covered, a house fund will be waiting, and a trust is being arranged to ensure long-term support. Still, the son is angry—and so is the dad's ex, who apparently expected a cut too. Reddit, of course, had thoughts. A lot of them. "Dad is a sweetheart, son a greedy pig," one user wrote. Another called it "rage bait," adding, "No way is someone that greedy and s*****." One of the top-rated replies summed it up like this: "A 19-year-old kid tried to negotiate from $180K/year for doing nothing to $290K/year with zero leverage and was surprised when it blew up in his face." Some were quick to defend the father's pivot to the lump sum. "It was probably for the best," a commenter wrote. "Judging the son's character... the father was probably going to get hosed on that deal pretty much immediately." Others pointed out just how generous the original offer was. "If my father had offered me that deal, I would show up at his doorstep every morning with his cash, a dozen doughnuts, and his coffee exactly the way he likes it." For what it's worth, the dad isn't leaving his son high and dry—but he's not pretending the whole thing didn't sting. "I thought I was being smart, but I didn't realize how greedy he was," he wrote. In cases like this—where family, money, and long-term plans collide—it's often smart to bring in a professional. Even if you're not lucky enough to win the lottery, platforms like SmartAsset can connect you with financial advisors who help with everything from retirement planning to tax strategy to making sure your kids don't end up arguing over the inheritance. Whether you're setting up support for your kids, planning your estate, or just trying to avoid a financial decision you'll regret later, good advice can go a long way. Because giving your kid the golden goose? That's one thing. Watching him complain it's not laying fast enough—that's something else entirely. See Next: Maximize saving for your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. It's no wonder Jeff Bezos holds over $250 million in art — this beloved alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. This article 58-Year-Old Lottery Winner Tried To Strike A Deal With Teen Son, But Backed Out When The 19-Year-Old Wanted 80% —'I Didn't Realize How Greedy He Was' originally appeared on Sign in to access your portfolio
Yahoo
27 minutes ago
- Yahoo
I missed Nvidia – could this be the next big US growth stock?
Let's be honest — most of us missed the boat on Nvidia (NASDAQ: NVDA). And by the time we realised just how vital graphics processing units (GPUs) would become to artificial intelligence (AI), the share price had already soared into the stratosphere. Over the past five years, the stock has climbed almost 1,600%. In the last six months alone, it's up almost 50%, adding over $1.5trn to its market value. It's now the most valuable company in the world, overtaking Microsoft and Apple in June. I have exposure to the stock through several ETFs and investment trusts, so I didn't entirely miss out on the action. But I certainly made nowhere near the gains I would have had I bought individual shares. Which makes me wonder, how did Nvidia get here, and what stock could be next? Crunching the numbers The numbers behind the hype are jaw-droppingly impressive. For the fiscal year ending January 2025, revenue reached $130bn, a staggering increase from $27bn just two years ago. Net income exploded from $4.3bn in 2022 to more than $70bn this year. And its margins are enormous — a return on equity of 115% and gross margins consistently above 70%. Yet despite the parabolic growth, I don't think it's entirely overvalued yet. In fact, I still think it's worth considering as a long-term investment. It's a world-class company with room to expand further and the global AI arms race is just getting started – with Nvidia at its core. Realistically, though, the biggest gains have already been made. Buying now means betting on continued dominance that may already be priced in, which is a risk. The stock trades at a price-to-earnings (P/E) ratio of 45 – not outrageous considering its growth, but not cheap either. So where should investors look if they want to catch the next killer growth stock before it becomes a trillion-dollar giant? Could SymphonyAI be next? One company on my radar is SymphonyAI, a private US firm reportedly preparing for a Nasdaq IPO later this year. It's not yet listed, but when it does go public, I'll be watching closely. Founded by billionaire Romesh Wadhwani, it specialises in applying AI to specific industry verticals – retail, finance, manufacturing, and healthcare. It doesn't build chips like Nvidia, but it builds the enterprise software that helps businesses harness AI to improve decision-making and productivity. Unlike many AI startups, SymphonyAI already has real revenues and customers. Its retail division serves over 1,200 brands, while its industrial arm works with giants like Nestlé and ArcelorMittal. While financials are still private, it reportedly generates hundreds of millions in annual revenue and is growing fast. If the IPO goes ahead this autumn, it could be one of the most closely watched tech listings of the year. Long-term mindset Nvidia's success was powered by timing, technology, and a growing reliance on data. It may still reward shareholders but the days of 10x returns are likely behind us. SymphonyAI might never reach Nvidia's heights but it could offer early-stage exposure to enterprise AI – the next leg of this growth story. If the valuation is right, it could turn out to be a once-in-a-decade opportunity. The post I missed Nvidia – could this be the next big US growth stock? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Mark Hartley has no position in any of the shares mentioned. The Motley Fool UK has recommended Apple, Microsoft, and Nvidia. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
