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Dan Mangan in political news

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Kathy Hochul - Dan Mangan - Eric Adams - Magnitude 4.8 earthquake strikes northeastern United States - cnbc.com - Usa - city New York - state New Jersey - New York - city Manhattan - city Boston - city Baltimore - county Adams

Magnitude 4.8 earthquake strikes northeastern United States

A magnitude 4.8 earthquake shook the northeastern United States on Friday morning. The earthquake was felt from Boston down to Baltimore, according to the U.S. Geological Survey. Many incoming flights at the three major airports in and right outside York City were being diverted from landing because of the quake, according to the Federal Aviation Administration. The epicenter of the quake was detected about 4.5 miles north, northeast of Whitehouse Station, New Jersey, according to the USGS. "Everyone @NYSE just gave each other a big look," CNBC's Carl Quintanilla tweeted from the New York Stock Exchange

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Donald Trump - Dan Mangan - Trump Media is 'a scam' and people buying its stock are 'dopes,' Barry Diller says - cnbc.com

Trump Media is 'a scam' and people buying its stock are 'dopes,' Barry Diller says

Trump Media is "a scam," and people buying its high-flying stock are "dopes," IAC and Expedia Chairman Barry Diller said Thursday in a scathing takedown of the social media company whose majority shareholder is former President Donald Trump. "I mean, it's ridiculous," Diller said on CNBC's "Squawk Box" when asked about Trump Media. "The company has no revenue." "It's a scam, just like everything he's ever been involved in is some sort of con," he said of Trump. A Trump Media spokeswoman, in response to Diller's comments, said, "It is unsurprising to see die-hard Trump haters and leftwing flacks blow a gasket now that Truth Social has become a public company that, still today, refuses to suppress political expression that contradicts the narratives they want to enforce."  CNBC has requested co

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Donald Trump - Dan Mangan - Trump Media is the most expensive U.S. stock to short — by far - cnbc.com

Trump Media is the most expensive U.S. stock to short — by far

You need a lot of cash — and guts — to short Trump Media stock right now. Trump Media, which began being publicly traded last week, is now far and away the most expensive U.S. stock to sell short, according to S3 Partners, a leading financial data marketplace platform. But plenty of people are still willing to pay those steep costs, based on their belief that Trump Media's share price is bound to fall dramatically from its Wednesday closing of $48.81. Investors who wanted to borrow Trump Media shares to sell them short on Wednesday would have had to pay annual financing costs of between 750% and 900% of the price of the stock, said

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Donald Trump - Dan Mangan - Trump loses late bid to delay New York hush money trial - cnbc.com - city New York - New York

Trump loses late bid to delay New York hush money trial

A judge on Wednesday rejected a last-ditch effort by former president Donald Trump to delay his hush money trial scheduled to begin later this month in New York.

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Donald Trump - Dan Mangan - Shvartsman brothers plead guilty to insider trading on Trump Media merger plans - cnbc.com - city New York - state Florida - New York - city Manhattan

Shvartsman brothers plead guilty to insider trading on Trump Media merger plans

Two Florida brothers pleaded guilty Wednesday in New York federal court to insider trading charges related to their purchase and sale of securities of the company that eventually merged with former President Donald Trump's social media firm. The brothers, Michael Shvartsman and Gerald Shvartsman, earned more than $22 million in illegal profits by trading in securities of the shell company, Digital World Acquisition Corp., in October 2021 after learning of nonpublic information that DWAC planned a merger with the privately held Trump Media & Technology Group, prosecutors said. Although that merger was announced in late October 2021, it only was completed last month in a deal that led to Trump Media becoming a publicly traded company. "I've made a terrible mistake," Gerald Shvartsman, 46, told Judge Lewis Liman in Manhattan federal court as he pleaded guilty, according to the Associated Press. He also said that what he had done was "wrong and the mistake I will pay for dearly the rest of my

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Donald Trump - Dan Mangan - Two defendants in Trump Media insider trading case signal possible guilty pleas - cnbc.com - state Florida - New York - city Manhattan

Two defendants in Trump Media insider trading case signal possible guilty pleas

A Florida venture capitalist and his brother moved Monday toward potential guilty pleas in an insider trading case connected to the merger that took Donald Trump's social media company public last week. Michael Shvartsman, the venture capitalist, and his brother, Gerald Shvartsman, both previously pleaded not guilty to criminal charges of insider trading and conspiracy, related to trading shares in of the shell company that merged with Trump Media last week. A new court filing Monday revealed that a change of plea hearing for the brothers will be held Wednesday afternoon in U.S. District Court in Manhattan. A change of plea hearing typically involves a defendant pleading guilty. Also Monday, New York defense attorney Alan Futerfas filed a notice with the court that he had joined Michael Shvartsman's legal team. Futerfas has

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Donald Trump - Dan Mangan - Trump Media plunges more than 25% after company reports net loss of $58 million in 2023 - cnbc.com

Trump Media plunges more than 25% after company reports net loss of $58 million in 2023

The share price of Trump Media plunged Monday after the social media app company closely tied to former President Donald Trump reported a net loss of $58.2 million on revenue of just $4.1 million in 2023. Trump Media & Technology Group shares were trading down by more than 25% around 1:08 p.m. ET. Despite that plunge, the company's market capitalization was still more than $6.8 billion after its 8-K filing with the Securities and Exchange Commission revealed the loss for last year. Much of the net loss appears to come from $39.4 million in interest expense, according to the filing. A spokesperson for the company did not immediately reply to a request for comment on the new filing. The filing shows that in 2022, Trump Media had a net profit of $50.5 million and total revenue of only $1.47 million. The company ended 2023 with just $2.7 million in cash on hand, the filing said. The losses last year by Trump Media — the ow

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Ron Desantis - Dan Mangan - Disney agrees to settle Florida lawsuit with special district backed by DeSantis - cnbc.com - state Florida - county Orange

Disney agrees to settle Florida lawsuit with special district backed by DeSantis

Disney agreed Wednesday to end litigation in state court involving a Florida special tourism district that the entertainment giant effectively controlled for more than five decades until last year after Gov. Ron DeSantis moved to revoke that status. The settlement lifts a significant barrier to the continued development of Walt Disney World in the Orlando area and provides for the potential resolution of a related federal case. The state lawsuit was originally filed in Orange County by the Central Florida Tourism Oversight District to void agreements the old district board had signed with Disney right before it was dissolved at DeSantis' behest after Disney opposed Florida's "Don't Say Gay" bill backed by the governor. Disney in turn had

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