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Hardly for the first time in these waning days of 2024, cryptocurrency-related stocks were having quite a good day on the market Thursday -- although there were certain glaring exceptions. Lingering optimism about a crypto-friendly presidential administration preparing for work helped bolster their prices. It also didn't hurt that news broke of a top regulator considered hostile to the sector stepping down from his post. Two quite different crypto-dependent securities both closed the day up nicely, mining business Mara Holdings ( MARA 6.85% ) with a nearly 7% gain and exchange-traded fund iShares Ethereum Trust ETF ( ETHA 9.19% ) with a 9% rise. Going in quite the opposite direction was the recently high-flying Bitcoin ( BTC 4.25% ) investment vehicle MicroStrategy ( MSTR -16.16% ) , but there was a specific reason for its retreat. The Bitcoin boom Stocks that aren't MicroStrategy continued to ride the sustained and powerful demand for Bitcoin, by far the leading and most influential crypto. During the day, Bitcoin notched yet another all-time high -- is this even surprising anymore? -- by trading slightly over $99,000 at one point. That magic $100,000 level is well within sight, and we shouldn't be surprised to see the coin hit that level soon, perhaps very soon. Ethereum is a different animal, to be sure, as a coin with significantly more utility than Bitcoin. Still, it's been a perennial runner-up and as such generally marches in step with Bitcoin, too. In late-afternoon trading, Ethereum was coasting 8% higher, hence the more or less similar rise of iShares Ethereum Trust ETF. Getting down to specific company developments, Mara Holdings announced -- no doubt joyfully -- that an already-upsize convertible senior notes issue had been successfully floated. The company is reaping net proceeds of $980 million from the $1 billion private placement. That amount includes the full $150 million option offered to, and exercised by, the notes' initial investors. This demonstrates that demand was powerful for the well-timed issue. As an added bonus, the notes have an interest rate of 0%, which is quite advantageous for Mara Holdings. Interestingly, MicroStrategy is also issuing a pack of convertible senior notes. The difference is, that after the company's stock flew as much as 14% higher early Thursday, it was the topic of a short-seller's critical research note. That short-seller, Citron Research, described the formerly rallying crypto-stock's price as "overheated" in an official Twitter post. " Now, with Bitcoin investing easier than ever ... MicroStrategy's volume has completely detached from Bitcoin fundamentals," Citron added. Investors were clearly taking this negative sentiment to heart. Bye-bye, Gary Meanwhile, in Washington D.C., Securities and Exchange chair Gary Gensler has announced that he will be stepping down from his position when Donald Trump takes office on Inauguration Day (Jan. 20). At times, Gensler was quite the determined opponent of cryptos, at one point saying it was "unlikely" they would be deployed as extensively as traditional fiat currencies. Many in the cryptoverse certainly won't miss him at the helm of the federal regulator.Hinton shot 5 of 11 from the field and 5 for 7 from the line for the Crimson (3-7). Chandler Pigge scored 14 points while going 6 of 9 from the field and added nine rebounds, five assists, and four steals. Louis Lesmond had 13 points and shot 4 for 7 (2 for 5 from 3-point range) and 3 of 4 from the free-throw line. Anthony McComb III led the Wildcats (2-11) in scoring, finishing with 21 points. Sami Pissis added 16 points and two steals for New Hampshire. Caleb Middleton had 10 points and 11 rebounds. Harvard's next game is Saturday against Furman at home, and New Hampshire visits Stonehill on Sunday. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .semestabet slot 。

Becoming a resident of South Dakota is easy. Some say too easy

CFP Committee Chair Cites SMU Close Losses as Playoff Selection Factor over Alabama

LANDOVER, Md. (AP) — Jimmy Carter was honored with a moment of silence before the Atlanta Falcons’ game at the Washington Commanders on Sunday night, hours after the 39th president of the United States died at the age of 100 in Plains, Georgia. Beyond being a Georgia native who led the country from the White House less than 8 miles (12 kilometers) away during his time in office from 1977-81, Carter was the first president to host the NFL's Super Bowl champions there when he welcomed the Pittsburgh Steelers in 1980. Falcons owner Arthur Blank in a statement released by the team before kickoff said he was deeply saddened by the loss of his dear friend and mentor, calling Carter “a great American, a proud Georgian and an inspirational global humanitarian.” “He lived his life with great civic responsibility and took it upon himself to be the change he wished to see amongst other,” Blank said, recalling meeting Carter at The Home Depot. “President Carter’s kind and uniting spirit touched so many lives. He was a man of deep faith, and did everything with principal and grace, doing things the right way for the right reasons." AP NFL: https://apnews.com/hub/nflBEING thousands of miles apart hasn’t stopped I’m a Celeb star GK Barry from finding adorable ways to stay connected with her girlfriend. During a segment on I’m a Celeb: Unpacked last night, Joel Dommett read out a selection of questions sent in for GK Barry by members of the public. One of them asked: "Do you miss eyelashes or your phone more?" Fans of the couple know that 'eyelashes' is a secret code name GK uses for Ella Rutherford . Without hesitation, the TikTok star replied: "My girlfriend – I miss her so much. I love you!" Joel, seemingly unaware of the reference, chuckled and said: "Neither of the options, I like that." However, Ella will no doubt know what her girlfriend meant and appreciate getting a shout out from the jungle. Fans previously spotted another sweet tribute to Ella - GK’s necklace doesn’t have her own name on it but instead says eyelashes. The nickname stems from Ella’s reputation for having the best fake eyelashes in town. In the jungle, GK opened up to her campmates about her relationship, sharing how she met Ella through a mutual friend and instantly felt a connection. "I really liked her the first day I met her," GK admitted. Initially she introduced Ella to her parents as a friend, before revealing they were dating. "They just love her, they never had an issue with it," she added. Before entering the jungle, GK made sure to send a heartfelt gift to her other half. Ella shared a snap of the bouquet complete with a sweet note on social media, confessing they brought her to tears.

FLOKI price extends recovery as the University of Floki goes liveOct 29, 2024; New York, New York, USA; New York Yankees outfielder Juan Soto (22) doubles during the eighth inning against the Los Angeles Dodgers in game four of the 2024 MLB World Series at Yankee Stadium. Brad Penner-Imagn Images/File Photo DALLAS -- The Hilton Anatole has become Major League Baseball's top destination this week as teams converge for the winter meetings with writers, agents and even some fans circling the vast lobby floors. The biggest offseason news came down Sunday night, when the New York Mets and star free agent slugger Juan Soto reportedly agreed on a 15-year, $765 million deal, which would be the largest contract ever given to a professional athlete. That was a key talking point when managers started meeting with the media on Monday. Nationals manager Dave Martinez reflected on when he was Soto's first manager in the big leagues back in 2018. "This kid, he was different," Martinez said. "The ball comes off his bat differently. The way he approaches the hitting was way different than a lot of kids I've seen. But the one thing that I always remember about him, the first conversation I had, the first thing that came out of his mouth when I asked him what motivates him, what drives him, and he just came out and said, 'I love baseball.' Truly you can see it in him. He loves playing the game." The Red Sox were among the clubs in the mix for Soto. Boston manager Alex Cora didn't get into specific details, but he enjoyed the organization's pursuit of the four-time All Star. "It was fun in a way, you know, to get to know people and players of that status," Cora said. "It's amazing. The kid, he gets it. He gets it. Let me put it that way." Royals manager Matt Quatraro, meanwhile, spoke about the impact such a monumental contract may have on smaller market teams in order to compete in today's market. "We have to be creative. We have to put the best 26 guys on a roster or the best 40 guys on a roster, not the best one or two," Quatraro said. "At the end of the day, you have a chance to compete against those guys. Soto is going to hit four to five times a night. Those are impactful at-bats, but there's other ways to combat that with a full 26-man roster." Sasaki Posted Outside of the Soto reaction, Monday's other main storyline - at least going into the afternoon hours - centered on Japanese ace right-hander Roki Sasaki officially being posted. The 23-year-old phenom is available to sign as a free agent from Tuesday through 5 p.m. ET on Jan. 23. The rumor mill was churning with plenty of speculation and talk about where Sasaki might sign. He was just one of many big-name players being discussed on Monday. The list of top free agents behind Soto includes pitchers Corbin Burnes and Max Fried and infielders Alex Bregman, Pete Alonso and Christian Walker. On the trade front, much attention is being placed on White Sox left-handed starter Garrett Crochet. It was a relatively quiet Day 1 through the standard working hours, although things are always subject to change at meetings of this nature. Tito is Back Terry Francona joked that his desire to manage again resurfaced when his daughters went on a 10-day trip to Europe. "I watched the grandkids. That was the one day I thought maybe I'll go back to baseball," Francona said, laughing. All joking aside, Francona said it simply happened that when the Reds reached out, the timing felt right. He's healthy and refreshed as he's set to enter his 24th season as a manager. "I had a really good year and maybe I just needed that," Francona, 65, said. "Then, when these guys called, it just felt right." Honoring Mays The winter meetings kicked off with MLB announcing that its annual charity auction during the event would help revitalize Willie Mays Park in the late Hall of Famer's hometown of Fairfield, Ala. At a news conference, April Brown, MLB's senior vice president of social responsibility and diversity, said the vision for the project includes access for all levels of players, from youth leagues to advanced levels. "This effort will not just be MLB alone," Brown said. "We have the blessing of so many connected to his legacy and that have the mission to instill the love of our game that Willie had to all of the youth in the area growing up in the neighborhood where he grew up." The auction, which features items from every major league club, runs through Thursday. --Drew Davison, Field Level Media REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel nowI’m a Celeb’s GK Barry sends sweet message to girlfriend Ella Rutherford after ‘secret communication’ was revealedMajor funds boost for mental health, addiction services

Spokesman of the Emeka Beke-led All Progressives Congress (APC) Rivers State, Mr Darlington Nwauju, has warned the National Working Committee (NWC) led by Alhaji Abdullahi Ganduje of the dangers of disregard for the rule of law. This is as he accused the National Chairman of APC, of alleged disregard for court orders, injunctions and judgments relating to the party both in Rivers State and others warning that such contributed to the huge election losses suffered by the party in Rivers State in 2015, 2019 and 2023 He added that Ganduje was frustrating efforts of lasting peace in the leadership of the party in the state. Speaking with Journalists on Monday, Nwauju accused Ganduje of dictatorial leadership style, urging him and Okocha’s leadership to stop desecrating the judiciary and de-marketing the party. Nwauju expressed sadness over an alleged conspiracy to delete the memories of the supporters of Emeka Beke’s leadership of APC “who unfortunately lost their bid to rewrite the history of the party here in Rivers and ensure that justice is not served on sponsors and perpetrators of those barbaric crimes that took place in 2015, 2019 and 2023”. Recall that a Port Harcourt High Court last week nullified the party’s recent LG and State congresses organised by the Tony Okocha-led Caretaker Committee, saying they were in utter disrespect of court order and Court judgment. The High Court, presided over by Justice Godswill Obomanu, nullified the LGA and State congresses and awarded a cost of N10 million against the defendants (APC & Alhaji Ganduje), the National Chairman of the party. Nwauju regretted that the party had suffered avoidable media bashing in recent weeks and months “due to the dictatorial leadership style of Alhaji Ganduje who seems to be in such a hurry to rewrite our painful history”. He said “It would not be out of place for any journalist in this room today to confidently construct beautiful headlines that will pull by the nose given the notorious fact that, Alhaji Abdullahi Ganduje, who promised internal democracy for the party on August 3, 2023 after his ratification by NEC, has managed the Rivers State chapter exactly like a workman quarrelling with his tools. “We are worried that Alhaji Ganduje is doing everything possible to bully the very principles of progressivism upon which our party was founded and to even imagine the peculiarity of the Rivers state chapter of the party where tons of human beings had their lives cut short for their membership of the APC“. Nwauju stressed that since the High Court judgement is on appeal and the Court of Appeal fixed 4th and 12th February 2025 to hear the matter, “what is the rush in countering the order of Court? He said that if the APC under Ganduje had any respect for the rule of law, it would have waited for the determination of the cases in court before going on with the congresses again and injunction of the court. Speaking about the alleged plan to suspend their supporters, he said “expelling Chief Emeka Beke and the rest of us who are rightful officers of the party in the state and accusing us of collaborating with the Governor of Rivers State to embarrass the APC? If we may ask which of the APCs? The one they sabotaged in 2015, 2019 and 2023? Is it the same APC that they abandoned to join the SDP and jumped ship to openly campaign for the PDP and Governor Fubara? Nwauju questioned. READ MORE FROM: NIGERIAN TRIBUNEGrades are in: Career game from Aidan Laughery propels Illinois to winRepresentative image NEW DELHI: Retail sales of vehicles across categories in India grew 11.2% at 32,08,719 units in Nov, as compared to 28,85,317 units in same month last year, riding on two-wheeler demand, Federation of Automobile Dealers Associations (FADA) said in Monday. Retail sales of two-wheelers were at 26,15,953 units last month compared to 22,58,970 units in Nov 2023, a growth of 15.8% buoyed by the festive spillover. On the other hand, passenger vehicle (PV) retail was down 13.7% at 3,21,943 units, as against 3,73,140 units in the year-ago month. The PV segment faced notable headwinds, FADA said. "While Nov was initially expected to build on prior momentum, particularly due to marriage season, dealer feedback suggests this segment underperformed expectations," FADA president C S Vigneshwar said. "Although rural markets offered some support, in the two-wheeler category, marriage-related sales remained subdued." On PV retail, he said, "dealers cited weak sentiment, limited product variety and insufficient new launches for weak performance." Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .

Special Correspondent Panaji The national general secretary of the Bharatiya Janata Party and the Rajya Sabha member, Arun Singh said that the new state BJP president will be elected in January 2025, while the new state mandal presidents of the party as well as district BJP presidents would be in place by the end of this month. Singh also said that people are happy with the BJP and its government in Goa, and hence are becoming members of the party, with the Goa BJP unit crossing its membership target under the ‘Sangathan Parva’. “In fact we have crossed more than 12 crore members, all over the country,” he said, adding people are frustrated with the Congress due to its negative politics and hence are rejecting the party at the assembly elections, in various states, with the Congress still unaware of this reason for its rejection. The senior BJP leader, addressing a press conference, at the city BJP headquarters on Saturday said that the people are also not taking the Aam Aadmi Party seriously. The state BJP president, Sadanand Tanawade was present on the occasion. Replying to a question as regards the job scam in Goa, Singh said that the BJP government immediately takes action against anyone who makes a mistake, for that matter even a single mistake, while it is not so in the Congress government. He also said that a wad of Rs 500 notes found from the seat allotted to the Congress Raya Sabha member, Abhishek Singhvi, in the Parliament, shows that Congress has lot of black money. Answering another question, Singh said that the BJP is not breaking opposition parties, but the members of these parties desire to join the BJP and work under the leadership of Narendra Modi. “We of course, welcome such leaders,” he added.NORMAL — Senior quarterback Logan Malachuk never expected this for Nazareth. When the Burr Ridge resident joined the football team as a freshman , he had no idea what was in store for him or the Roadrunners. But when his career finished up Saturday afternoon, he had three state championships under his belt and unofficially threw for more yardage than any other quarterback in Illinois history. “My freshman year, we were down at halftime in Week 4, and I think we were down 20-0,” Malachuk said. “Coach (Tim) Racki put me in, we came back and won, and I didn’t look back.” Not then. And not now. Malachuk threw for 336 yards and four touchdowns Saturday to lead the Roadrunners to a 29-27 victory over Joliet Catholic in the Class 5A state championship game at Hancock Stadium. According to Nazareth’s statistics, Malachuk finished with 11,184 career yards, an Illinois High School Association record. It broke the previous mark of 10,884 by Greenville’s Tyler Hutchinson . Trenton Walker caught four passes for 122 yards and two TDs for Nazareth (12-2), while James Penley and Stanford-bound Gabe Kaminski each caught TD passes. Penley also recovered an onside kick in the closing minute of the nail-biter to clinch the Roadrunners’ sixth state title. Nazareth’s Logan Malachuk, right, and Garrett Reese hug after wining the Class 5A state championship game against Joliet Catholic at Hancock Stadium in Normal on Saturday, Nov. 30, 2024. (Vincent D. Johnson / Pioneer Press) Malachuk was actually unaware he was climbing the ladder to the top off the state’s passing list. “I had an idea that I had a lot of yards,” Malachuk said, nodding. “I had no idea what the record was. That’s something insane that I didn’t even think was possible. “I was lucky enough to play four years for a great team under a great offense. They put me in a great situation, and that’s all that you can ask for.” Larry Stringham led Joliet Catholic (10-4) by running for 147 yards, while Nate Magrini added 125. Junior quarterback Lucas Simulick threw for 105 yards and two TDs. But the Roadrunners continued their mastery of the Hilltoppers, after beating Joliet Catholic 38-20 in the 2023 state championship game and then 16-13 during this year’s regular season The key throughout those years? Kaminski, a senior linebacker who also played four years and makes occasional appearances on offense, pointed toward Malachuk. Nazareth’s Trenton Walker (8) tries to escape from Joliet Catholic’s Anthony Brown in the Class 5A state championship game at Hancock Stadium in Normal on Saturday, Nov. 30, 2024. (Vincent D. Johnson / Pioneer Press) “Oh, man, his leadership is off the charts,” Kaminski said. “Whenever the offense doesn’t score or the defense gives up a touchdown, he’s always there keeping us up. “And as a player, ever since he started as a freshman, he’s been phenomenal. I love him, and I wouldn’t want anyone else as my quarterback.” Colleges are beginning to agree. The 5-foot-11, 186-pound Malachuk has offers from South Dakota, Central Missouri, Northern State and St. Thomas. Together, Malachuk and Kaminski led teams to historic firsts over the years. In 2022, they were instrumental when Nazareth became the first team in IHSA history to win a state title with four losses. The Roadrunners topped that in 2023 by being the first team to enter the playoffs with a 4-5 record and still win the state championship. Nazareth’s Logan Malachuk (1) throws the ball against Joliet Catholic during the Class 5A state championship game at Hancock Stadium in Normal on Saturday, Nov. 30, 2024. (Vincent D. Johnson / Pioneer Press) This season, they helped Nazareth earn the first three-peat in program history. “These are two guys that have been on varsity since their freshman year and went to the state quarterfinals, which is amazing in itself,” Racki said. “And then the next two years, you go to the state championship game and you win. “You would think, especially with teenagers, there would be some sense of either empowerment or this was easy or it’s about me. They are the most humble and grounded group. They help the younger guys that have come up to varsity and teach them the right way.” And Racki, for one, enjoyed watching Malachuk’s development over his standout career. “He’s very fun to watch,” Racki said. “Not only does he have an arm, but he’s got legs, too. He’s extremely smart, and he’s not just a running-threat quarterback. He keeps his eyes downfield. “But if something opens up, he’s gonna be able to pick up some yards for us.” Jeff Vorva is a freelance reporter for the Pioneer Press.Jensen Huang, the chief executive of Nvidia, is the 10th-richest person in the United States, worth $US127 billion ($198.6 billion). In theory, when he dies, his estate should pay 40 per cent of his net worth to the government in taxes. But Huang, 61, is not only an engineering genius and Silicon Valley icon whose company, the world’s second-most valuable, makes the chips that power much artificial intelligence. He is also the beneficiary of a series of tax dodges that will enable him to pass on much of his fortune tax-free, according to securities and tax filings reviewed by The New York Times . His family’s savings are on pace to be roughly $US8 billion ($12.5 billion). This likely ranks among the largest tax dodges in the United States. Nvidia’s Jensen Huang at the Dreamforce conference in San Francisco. Credit: Bloomberg The types of strategies Huang has deployed to shield his wealth have become ubiquitous among the ultrawealthy. It is just one sign of how the estate tax – imposed on a sliver of the country’s multimillionaires – has been eviscerated. Revenue from the tax has barely changed since 2000, even as the wealth of the richest Americans has roughly quadrupled. If the estate tax had kept pace, it would have raised around $US120 billion ($187 billion) last year. Instead, it brought in about a quarter of that. The story of Huang’s tax avoidance is a case study of how the ultrarich bend the US tax system for their benefit. His strategies were not explicitly authorised by Congress. Instead, they were cooked up by creative lawyers who have exploited a combination of obscure federal regulations, narrow findings by courts, and rulings that the IRS issues in individual cases that then served as models for future tax shelters. ‘Don’t expect anyone in Congress to stop this’ “You have an army of well-trained, brilliant people who sit there all day long, charging $US1,000 an hour, thinking up ways to beat this tax,” said Jack Bogdanski, a professor at Lewis & Clark Law School and the author of a widely cited treatise on the estate tax. “Don’t expect anyone in Congress to stop this.” The richest Americans can pass down approximately $US200 billion ($312 billion) each year without paying estate tax on it, thanks to the use of complex trusts and other avoidance strategies, estimated Daniel Hemel, a tax law professor at New York University. Enforcement of the rules governing the estate tax has eased in part because the IRS has been decimated by years of budget cuts. In the early 1990s, the agency audited more than 20 per cent of all estate tax returns. By 2020, the rate had fallen to about 3 per cent. Newly elected Senate majority leader John Thune. Credit: AP The trend is likely to accelerate with Republicans controlling both the White House and Capitol Hill. They are already slashing funding for law enforcement by the IRS. The incoming Senate majority leader, John Thune, and other congressional Republicans for years have been trying to kill the estate tax, branding it as a penalty on family farms and small businesses. Yet, Huang’s multibillion-dollar manoeuvre – detailed in the fine print of his filings with the Securities and Exchange Commission and his foundation’s disclosures to the IRS - shows the extent to which the estate tax has already been hollowed out. An Nvidia spokesperson, Stephanie Matthew, declined to discuss details of the Huangs’ tax strategies. The United States adopted the modern estate tax in 1916. In recent decades, congressional Republicans have successfully watered it down, cutting the rate and increasing the amount that is exempt from the tax. Today, a married couple can pass on about $US27 million ($42 million) tax-free; anything more than that is generally supposed to be taxed at a 40 pr cent rate. Can you dig it? In 2012, Huang and his wife, Lori, took one of their first steps to shield their fortune from the estate tax. They set up a financial vehicle known as an irrevocable trust and moved 584,000 Nvidia shares into it, according to a securities disclosure Huang filed. The shares were worth about $US7 million ($11 million) at the time, but they would eventually generate tax savings many times greater. The Huangs were taking advantage of a precedent set nearly two decades earlier, in 1995, when the IRS blessed a transaction that tax professionals affectionately nicknamed “I Dig It.” (The moniker was a play on the name of the type of financial vehicle involved: an intentionally defective grantor trust.) One of the beauties of I Dig It was that it had the potential to largely circumvent not only the estate tax but also the federal gift tax. That tax applies to assets that multimillionaires give to their heirs while they’re alive and essentially serves as a backstop to the estate tax; otherwise, rich people could give away all their money before they die in order to avoid the estate tax. In Huang’s case, the details in securities filings are limited. But multiple experts, said it was almost certainly a classic I Dig It gift, loan and sale transaction. The $US7 million of shares Huang moved into his trust in 2012 are today worth more than $US3 billion ($4.7 billion). If those shares were directly passed on to Huang’s heirs, they would be taxed at 40 per cent – or well over $US1 billion. Instead, the tax bill will probably be no more than a few hundred thousand dollars. The Huangs soon took another big step toward reducing their estate tax bill. In 2016, they set up several vehicles known as “grantor-retained annuity trusts” or GRATs, securities filings show. They put just over 3 million Nvidia shares into their four new GRATs. The shares were worth about $US100 million ($156 million). If their value rose, the increase would be a tax-free windfall for their two adult children, who both work at Nvidia. That is precisely what happened. The shares are now worth more than $US15 billion ($23.4 billion), according to data from securities filings compiled by Equilar, a data firm. That means the Huang family is poised to avoid roughly $US6 billion ($9.4 billion) in estate taxes. If the Huangs’ trusts sell their shares, that will generate a hefty capital gains tax bill – more than $US4 billion ($6.2 billion), based on Nvidia’s current stock price. The Huangs can pay that bill on behalf of the trusts without it counting as a taxable gift to their heirs. Tax strategy Starting in 2007, Huang deployed another technique that would further reduce his family’s estate taxes. This strategy involved taking advantage of his and his wife’s charitable foundation. Huang has given the Jen Hsun & Lori Huang Foundation shares of Nvidia worth about $US330 million ($516 million) at the time of the donations. Such donations are tax-deductible, meaning they reduced the Huangs’ income tax bills in the years that the gifts took place. Foundations are required to make annual donations to charities equal to at least 5 per cent of their total assets. But the Huangs’ foundation is satisfying that requirement by giving heavily to what is known as a donor-advised fund. Such funds are pools of money that the donor controls. There are limitations on how the money can be spent. Buying cars or vacation homes or the like is off-limits. But a fund could, say, invest money in a business run by the donor’s friend or donate enough money to name a building at a university that the donor’s children hope to attend. There is a gaping loophole in the tax laws: Donor-advised funds are not required to actually give any money to charitable organisations. When the donor dies, control of the fund can pass to his heirs – without incurring any estate taxes. In recent years, 84 per cent of the Huang Foundation’s donations have gone to its donor-advised fund, named GeForce, an apparent nod to the name of an Nvidia video game chip. The Nvidia shares the Huangs have donated are today worth about $US2 billion ($3.1 billion). The fund is not required to disclose how its money is spent, though the foundation has said the assets will be used for charitable purposes. Matthew said those causes included higher education and public health. But there is another benefit. Based on Nvidia’s current stock price, the donations to the fund have reduced Huang’s eventual estate tax bill by about $US800 million ($1.2 billion). This article originally appeared in The New York Times . The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning .

Hyderabad: Forests and endowments minister Konda Surekha has expressed suspicion on the handiwork of former secretary of Telangana Social Welfare Residential Educational Institutions Society (TGSWREIS) and BRS leader RS Praveen Kumar in the recent cases of food poisoning being reported in those institutions. Addressing media in Hyderabad on Saturday, she also suspected the hand of BRS working president KT Rama Rao (KTR) behind the incidents, as per the inputs from the intelligence. She said that RS Praveen Kumar had many followers in the Gurukuls, and that she was suspecting that they were trying to create unrest by blaming the state government for those food poisoning incidents, seemingly at the behest of KTR. She also alleged that there were irregularities to the tune of crores in Gurukuls, when RS Praveen Kumar was heading the administration of those institutions, “During the previous government, there was no effort made by those in power to inspect the Gurukuls and check the quality of education and facilities being offered to students there. After Congress came to power we have been doing that. Only one incident of food poisoning happened in the present government, which is unfortunate. With a plan they are trying to prevent the government from doing its work. I believe that there is the hand of RS Praveen Kumar in the incidents of food poisoning being reported in the state,” she told the media. She also said that BRS chief K Chandrasekhar Rao (KCR) was giving more importance to his daughter K Kavitha, and that was the reason why KTR was feeling left-out. She also said that while Siddipet MLA T Harish Rao and Kavitha formed a team, KTR was feeling isolated. In a strong rebuttal of Surekha’s comments, Praveen Kumar dared the state government to arrest him if he was found to have perpetrated any wrongdoing. “Konda Surekha lost her credibility when she got Telangana activists attacked at Manukota railway station during Telangana movement. She doesn’t even deserve to be a minister. I neglected my own children to ensure the children from these Gurukuls excelled in their careers. The results speak loud about what I could achieve. Konda Surekha should stop holding press meets,” he remarked.