All articles tagged with #cash
Charlie Sheen revealed on a podcast that he once wrote a $1 million check to Denise Richards as a joke for her birthday, which she surprisingly cashed a month later, catching him off guard. The incident highlights their complicated relationship and Sheen's candidness about past pranks and personal life.
Eight Americans were arrested in the Bahamas after police seized guns, ammunition, and undeclared cash from a docked boat on Bimini island, with ongoing investigations into the incident.
A New York City couple, James Kane and Barbie Agostini, discovered a safe filled with $100,000 while magnet fishing in a Queens lake. The NYPD allowed them to keep the cash, but the U.S. Treasury Department will need to piece together the damaged bills to determine the final amount. The couple plans to use the money to buy a home or invest in new fishing equipment.
A Queens couple, James Kane and Barbie Agostini, discovered a safe containing $100,000 in cash while magnet fishing in Corona Park. Despite the money being ruined by water, they were allowed to keep it as the owner couldn't be identified. The couple, who took up magnet fishing during the pandemic, have previously found various items including a WWII-era grenade and old guns.
A Queens couple discovered a safe containing an estimated $100,000 in cash while magnet fishing in Flushing Meadows Corona Park.
Thieves in Los Angeles pulled off a daring heist, possibly stealing up to $30 million from a money storage facility in Sylmar. Experts believe the crime required extensive planning and knowledge of security systems. The weight of the stolen cash could be as much as 3 1/2 tons, making it difficult to move and transport. This heist is among the largest in U.S. history, with parallels to famous heists in pop culture. The investigation is ongoing, and law enforcement is likely scrutinizing current and former employees of the facility.
Thieves stole $30 million in cash from a money storage facility in Los Angeles by breaking into the building and cracking the safe, marking one of the largest cash burglaries in the city's history. The facility, operated by GardaWorld, a global cash management and security company, was targeted on Easter Sunday, and the LAPD and FBI are jointly investigating the theft to determine the perpetrators. The heist has raised questions about the security measures in place at such facilities, with experts emphasizing the need for comprehensive protection against such large-scale thefts.
Thieves executed one of the largest cash heists in Los Angeles history, stealing $30 million from a GardaWorld money storage facility in Sylmar on Easter Sunday by breaching the building from the roof and accessing the safe without triggering alarms. The theft was only discovered by employees the next day, and the LAPD and FBI are now investigating the incident.
Thieves pulled off a sophisticated heist on Easter Sunday at a money storage facility in Southern California, making off with as much as $30 million in cash without triggering the alarm system. The break-in, one of the largest in L.A.'s history, involved breaching the building through the roof and accessing the vault undetected. Meanwhile, in a separate incident, jewelry exhibitors transporting $150 million in jewels with Brinks Security Company were robbed at a rest stop, leading to legal disputes. No arrests have been made in either case, and authorities are working on the investigations.
Former President Donald Trump claims to have nearly $500 million in cash, contradicting his lawyers' previous statements about his ability to pay a bond exceeding $450 million in his New York civil fraud case. The case, brought by New York Attorney General Letitia James, involves a judgment of over $464 million against Trump and his company for using false financial statements. Trump's claim comes amid a cash disadvantage in his presidential campaign compared to President Biden, but a potential cash windfall could come from his media company going public. Trump continues to criticize James and portray himself as a victim of a weaponized legal system.
Ned Davis Research's chief global macro strategist, Joseph Kalish, argues that the $6 trillion in money-market funds won't necessarily boost the stock market, citing historical data showing declines in money-market assets coinciding with Federal Reserve moves to ease monetary policy and bolster the economy. Despite a surge in money-market fund assets over the past year, Kalish points out that previous declines in such assets were followed by bear-market moves in equities, which is not the case currently with equities near record highs. While there are reasons to be bullish on equities and credit, Kalish believes the pile of cash in money-market funds is a weak factor in this scenario.
Many Americans have unused gift cards worth $23 billion, with an average value of $187 per person, and there are websites where consumers can sell them for cash. Recipients are often inclined to spend more than the card's value, driving additional sales for retailers. Consumers should be cautious when selling or buying gift cards online, and some states have laws requiring retailers to pay cash back for partially used cards.
A woman in Riverdale stole cash from a Waffle House after working hours, but police have determined that she was not an employee.
Despite the growth of digital payments in India, cash continues to hold ground as a valuable financial saving and store of value for most Indians. The currency in circulation grew by over 16.6% in 2020-21, while digital transactions soared, with UPI transactions surpassing a trillion dollars. This simultaneous growth of cash and digital payments is referred to as a "currency demand" paradox. Cash is preferred for minor purchases, and falling interest rates, a large informal economy, and expanded direct benefit cash transfers during the pandemic have contributed to the increased preference for cash. Unaccounted-for cash still flows into political campaign coffers and real estate transactions, highlighting the continued significance of cash in these sectors.
Savers and investors who enjoyed the rising yields of cash in 2023 may need to reconsider their strategy in 2024. The Federal Reserve is expected to cut interest rates next year, prompting a shift away from cash and cash equivalents towards longer-duration bonds. Financial advisers are urging clients to diversify their portfolios and explore traditional fixed-income investments, as cash offers limited growth potential. While cash still has its place, investors should be mindful of the downsides of holding too much cash, such as missing out on potential stock market returns.