funds Archives - The Michigan Star

Investors Pull Out Record Funds from China as Economy Falters

December 2, 2023 Michigan Star Staff

International investors have pulled billions out of China as the country’s economy continues to stumble and relations with the U.S. fail to ease, according to The Wall Street Journal.

Since August, international investors trading in China’s top exchanges in Shanghai and Shenzhen have pulled out more than $24 billion through a trading link in Hong Kong, according to the WSJ, the largest net outflow of foreign funds since the link was created in 2014. The MSCI China Index, which serves as a tool for investors to gauge expected returns in the country, has fallen 10% this year as China’s economy reports lackluster growth amid a real estate crisis and relations with the U.S. fail to significantly improve.

‘We Can Not Back Down’: GiveSendGo Comes Back Online After Hackers Stole Donor Information

February 16, 2022February 15, 2022 Michigan Star Staff

Crowdfunding service GiveSendGo came back online Tuesday after a Sunday hack forced the site to temporarily shut down.

“Sunday evening, February 13th, GiveSendGo was attacked by malicious actors attempting to eliminate the ability of its users to raise funds,” the company said in a statement posted to Twitter, acknowledging the hack publicly for the first time and announcing that the site was back online.

Report: Biden Considering $450,000 Payments to Illegal Immigrant Families Separated at Border

October 30, 2021October 29, 2021 Michigan Star Staff

The Biden administration is considering paying illegal immigrant families who were separated at the border under former President Donald Trump’s policies up to $450,000 per person, The Wall Street Journal reported on Thursday.

The illegal immigrants filed a lawsuit claiming the federal government detention resulted in major psychological trauma, according to the WSJ. Most of the families were made up of one parent and child who could receive around $1 million in payouts, though the amount could vary by family depending on the circumstances.

The American Civil Liberties Union (ACLU) represents some of the families involved in the lawsuit against the Departments of Justice, Homeland Security (DHS) and Health and Human Services, the WSJ reported. Around 940 families filed claims and the number of those who might qualify for the settlement is expected to be lower.

Commentary: Real Estate Scams Are on the Rise as the Housing Market Remains Hot

October 9, 2021October 8, 2021 RealClearWire

When Jeff, a retired marketing consultant from Chicago, was closing on his home sale, he received a new set of instructions at the last minute on where to send several thousand dollars in closing expenses. At first blush, the email looked legit with an official-looking logo and professional language specifying the amount owed and itemized expenses. But one thing caught his eye: The email address looked strange. Just to be safe, he called his mortgage broker.

“Don’t do that!” his broker told him in an alarmed voice. It was a scam. If he hit “send,” his closing fees would go to a thief who had been monitoring his emails. “I was a keystroke away from losing thousands of dollars,” Jeff recalled.

As the housing market sizzles across the country – with nearly 6 million homes bought last year – scammers have been finding new ways to tap into this once-secure market. Real estate transactions still demand reams of paperwork and regulations involving lawyers, brokers, title insurance companies and banks, but the fact that much of this work now takes place online gives thieves countless opportunities to exploit vulnerable buyers. Last year, more than 11,000 homeowners were scammed out of more than $220 million in closing funds alone, according to the American Land and Title Association, a trade group that represents professionals who perform property transactions.

Senate Fails to Wrap Up Infrastructure Bill After Talks to Expedite Process Collapse

August 7, 2021August 6, 2021 Michigan Star Staff

Senate Majority Leader Chuck Schumer set up a critical vote on the bipartisan infrastructure bill Saturday after talks to expedite the process fell apart late Thursday.

Both Republicans and Democrats engaged in marathon talks Thursday in a bid to vote on a package of amendments and to advance the sweeping public works package. Doing so, however, required approval from all 100 senators, and Tennessee Republican Sen. Bill Haggerty refused to go along even as his Republican colleagues urged him to do so.

In a statement, Hagerty attributed his objection to the Congressional Budget Office’s estimation that the bill would add $256 billion to the national debt over 10 years.

Gov. Whitmer to Spend $15.6 Million on Economic Recovery

July 11, 2021July 10, 2021 The Center Square

Gov. Gretchen Whitmer and the Michigan Department of Labor and Economic Opportunity (LEO) announced grants totaling more than $15.6 million to help get Michigan back to work.

The government awarded Michigan Learning and Education Advancement Program (MiLEAP) grants to 10 groups who will help support individuals who are dislocated, underemployed, essential workers, living in distressed rural and urban communities, or economically disadvantaged.

“My administration is committed to uplifting Michiganders whose economic security has been impacted by the COVID-19 pandemic,” Whitmer said in a statement. “By providing grants to help people make the move from education or training programs to good-paying, high-skill jobs, we can ensure all Michiganders thrive as we continue our economic jumpstart. The Michigan Department of Labor and Economic Opportunity and their Regional Consortia partners will help people get back on their feet and take the next step on their path to financial security.”