10 years since bankruptcy, Detroit’s finances are better but city workers and retirees feel burned
DETROIT (AP) — Mike Berent has spent more than 27 years rushing into burning houses in Detroit, pulling people to safety and ensuring his fellow firefighters get out alive.
But as the 52-year-old Detroit Fire Department lieutenant approaches mandatory retirement at age 60, he says one thing is clear: He will need to keep working to make ends meet.
“I’m trying to put as much money away as I can,” said Berent, who also works in sales. “A second job affords you to have a little bit of extra.”
Detroit officials say a man has survived a 150-foot plunge into…
Cathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion Surge
(Bloomberg) — Cathie Wood’s flagship exchange-traded fund closed out its Nvidia Corp. stake in early January. Then, came the artificial intelligence frenzy that sent the stock and its big tech peers on a tear.
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The chipmaker has added around $560 billion in market capitalization since Wood dumped her shares — with the last $200 billion of that surge coming overnight after the company handily beat earnings.
Although Wood holds Nvidia across several of her smaller funds, investors in the flagship ARK Innovation ETF (ticker ARKK) have mostly been left out of this year’s blistering 159.90% rally.…
11 Stories You Need to See
A roundup of the week’s most newsworthy financial industry press releases from PR Newswire, including inflation’s impact on homebuying, CEOs’ pessimistic outlooks, and more.
NEW YORK, Jan. 20, 2023 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week’s most newsworthy and popular releases, here’s a roundup of stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story.…
