On December 1, President Joe Biden decided to pardon his son, Hunter Biden, lifting tax and gun-related charges against him. This came even after Joe had previously promised not to get involved with the Justice Department’s work. The pardon was issued just weeks before Hunter was supposed to be sentenced for his legal troubles.
Hunter Biden, aged 54, had been under investigation since December 2020, mostly about his business dealings in China. Reports showed that he failed to pay around $1.4 million in taxes and was caught up in a gun-related case. In June 2024, a court found him guilty of lying when he bought a gun, claiming he wasn’t addicted to drugs, while there was cocaine in his gun pouch.
Hunter Biden’s pardon covers any offenses from January 1, 2014, to December 1, 2024. After the pardon, his legal team released a document saying these legal issues were politically motivated, meant to attack Joe Biden during his presidential campaign.
Joe Biden defending his decision, explaining that he believed Hunter was treated unfairly due to pressure from his political enemies. In his statement, he said, “These charges only came about because my political opponents wanted to hurt me.”
Tag: llv news
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Joe Biden Pardons Son Hunter: A Controversial Move Explained
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Abhishek Bachchan’s Funny Advice Amid Aishwarya Divorce Rumors
Abhishek Bachchan recently made a funny comment that has caught a lot of attention: “Married men should always listen to their wives!” This advice went viral just when rumors were swirling about his marriage to Aishwarya Rai Bachchan facing some trouble.
At a recent event, Abhishek was asked how he manages to give such great performances in his films. He simply replied that it’s not just him; he does what the directors tell him, works quietly, and then goes home. When the host joked that this sounded like a husband obeying his wife, Abhishek laughed and said, “Yes! All married men need to do that. Just do what your wife says!”
This humorous remark comes at a time when people are speculating that Abhishek and Aishwarya may be having some issues in their marriage. The gossip got louder when the couple attended Anant Ambani and Radhika Merchant’s wedding but didn’t pose for pictures together. Recently, Aishwarya shared photos from her daughter Aaradhya’s birthday party but didn’t include Abhishek or any other members of the Bachchan family. Observers on social media noted that both Aishwarya and Abhishek were seen without their wedding rings.
Adding to the buzz, none of the Bachchan family members posted birthday wishes for Aishwarya when she turned 51. Although Abhishek dismissed the divorce rumors, Aishwarya has remained quiet. Amitabh Bachchan, Abhishek’s father, also touched on the situation through his blog. He asked the media to stop spreading rumors about his family. He said, “I don’t talk much about my family because we value our privacy. Speculation is just that—speculation. They should verify their claims before spreading them. I appreciate the work of journalists, but rumors can be harmful.”
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Property Share Investment Trust: India’s First Small REIT IPO Open Now!
Today marks a big day for investors as Property Share Investment Trust (PSIT), India’s first small and medium real estate investment trust (REIT), opens its IPO for subscription. The IPO will be available for bidding until December 4.
This IPO is for a property called PropShare Platina, which is the first plan under PSIT. Small and medium REITs are a new investment option regulated by SEBI, meant for properties valued between ₹50-500 crore.
The funds raised from this IPO will mainly help buy a property named Prestige Tech Platina and will also be used for general business expenses.
Key Dates
– IPO Opens: December 2
– IPO Closes: December 4
– Share Allotment Date: December 5
– Listing Date: December 9Price Range
You can purchase units in this REIT at a price between ₹10 lakh to ₹10.5 lakh.About PropShare Platina
PropShare Platina includes 246,935 square feet of office space in a premier building located on the Outer Ring Road (ORR) in Bangalore, which has received a LEED Gold certification. The building is expected to be fully rented to a US tech company for 9 years, with rent increasing by 15% every three years.The scheme offers investors a projected return of 9% in FY26. The Outer Ring Road is a prime office location in Bangalore, hosting companies like Adobe, Amazon, Google, and many more.
For this scheme, the investment manager, PropShare Investment Manager, is waiving all management fees for FY25 and FY26, charging just a small fee in later years. Additionally, Property Share will invest Rs 17.6 crore—about 5% of the offering—from its own funds.
This IPO is only a fresh issue of Platina units with no existing shares being sold.
ICICI Securities is leading the offer, while KFin Technologies is in charge of managing the subscription process.
(Disclaimer: The opinions shared here are based on expert views and do not reflect the views of Niftystat.)
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Cyber Police Arrest Kalyan Roy for Rs 2.66 Lakh Parcel Scam
In the South East District, the Cyber Police have arrested a fraudster named Kalyan Roy, who lives in Thakurmura village, Tripura, near the Bangladesh border. They found him with Rs 2.40 lakh (240,000 rupees) that he had scammed from a victim.
Kalyan Roy tricked a man named Sunil Verma into believing he was getting gifts from a foreign woman he met on Facebook. In September 2021, Sunil started chatting with an American woman who claimed she was sending him gold, mobile phones, and money through a courier. The woman asked Sunil to accept these items for her.
In October 2021, Sunil received a call from someone claiming to be a delivery person, saying that a package with expensive gifts was waiting for him at the courier office. This caller asked Sunil to pay a fee to get the package. Believing it was real, Sunil paid a total of Rs 2,66,500 (266,500 rupees) into a bank account given by the scammer. Unfortunately, after paying, the caller stopped answering.
Sunil filed a complaint at the police station, and the Cybercrime unit began investigating. After a lot of work, they found out that Kalyan Roy was behind the fraud. The police raided his village over three days and finally arrested him.
During questioning, Kalyan admitted he worked with friends to scam people by pretending to send fake parcels. He said he did this to make money quickly. So far, there are no signs of previous crimes against him. More investigation is still happening, and more information will come soon.
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Bengaluru Faces Heavy Rainfall as Cyclone Fengal Approaches
Bengaluru and nearby areas in South Interior Karnataka are getting ready for heavy rain on December 2, 2024. The Indian Meteorological Department (IMD) has warned that this rain could be very intense and might cause some issues. This weather is mainly because of cyclone Fengal, which hit the Tamil Nadu coast on the night of November 30.
As for schools in Bengaluru, there hasn’t been any official announcement about closing them yet. For now, schools and colleges will be open as usual. Many people on social media are asking for schools to close. One concerned parent mentioned, “Why hasn’t the government declared a holiday for schools? It’s horrible weather.” Another user tweeted, “Please declare a holiday today for schools in Bengaluru. It’s raining a lot, and we’re scared to send our kids to school.”
The heavy rain in Bengaluru is linked to the cyclonic storm. According to the weather experts, this storm will move west-northwest and weaken into a well-marked low-pressure area over north interior Tamil Nadu within the next six hours. This low-pressure area will then move out to the Arabian Sea near the north Kerala-Karnataka coasts around December 3.
Kerala is also preparing for heavy rains. The IMD has warned that extremely heavy rainfall is expected in Kerala and Mahe, and they are advising people to stay safe. Besides Bengaluru, Tamil Nadu, Puducherry, and Karaikal are also on alert for very heavy rainfall. The coastal areas of Karnataka and the Rayalaseema region are expected to receive heavy showers too.
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Sunshine Pictures Set to Launch IPO to Raise ₹500 Crore
Mumbai: Sunshine Pictures, a movie production company run by filmmaker Vipul Amrutlal Shah, is getting ready to raise money by selling shares to the public in an Initial Public Offering (IPO). Shah says they will soon submit documents to kick off this process.
Founded in 2007, Sunshine Pictures hopes to collect around ₹500 crore through new shares and some shares sold by current owners. Shah mentioned that the way people view films has changed a lot. More big companies are now investing in Indian movies, and some international businesses are also joining in. He believes it’s the right time for Sunshine Pictures to grow bigger and that’s why they want to enter the IPO market.
Recently, the Hindi film industry has faced many challenges. Many movies haven’t done well in theaters, and streaming services are being more careful with how they spend money, making it tough for production companies. Shah explained that they have a special way of working on film projects that benefits everyone involved. They focus on reducing risks for their films and want to build long-term partnerships. Depending on how much money they have, sometimes they work with big studios or invest in their own movies completely. Shah and his team are committed to making their projects successful!
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Smart Tips for Choosing the Best Retirement Mutual Funds
Rashmi Chandra is a 45-year-old surgeon who wants to invest in an equity mutual fund for her retirement. With so many options available, she feels confused and doesn’t know how to choose the best one. Seeing funds with five-star ratings makes her hopeful, but she wonders if that’s enough to make the right choice.
It’s important for Rashmi to know that just because a fund has a five-star rating doesn’t mean it will always perform well in the future. No two rating agencies agree on which fund is the best, and each one uses its own special rules to give out ratings. A fund might get a five-star rating because it did great in the last six months, but that could change quickly. Mutual fund performance can go up and down a lot.
To make a smart choice, Rashmi should look for funds that have been around for a while. This way, she can see if they have consistently performed well over time. She should also find out how the rating agencies decide on their stars – like how they consider a fund’s performance compared to the risks taken.
Star ratings can be a helpful starting point to look at some good mutual funds, but they should not be the only thing she relies on. Rashmi should talk to a financial advisor to get more advice and ensure her investment matches her comfort level with risk. This way, she can make a well-informed decision for her retirement savings.
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Futures and Options Explained Simply for Everyone!
Futures and options are special types of financial agreements called “derivatives.” They don’t have their own value but get their worth from real things like stocks, currencies, or commodities (like crops, oil, and gold). Since the prices of these things change all the time, traders can lose a lot of money. To protect themselves from losing money, they use derivatives as a shield, or “hedging” tools. Some people also use these products to try making money from price changes.
What Are Futures?
A future is a promise between a buyer and a seller to exchange something at a fixed price on a specific date. Both the buyer and seller must stick to this agreement when the date comes. Because futures are leveraged, traders only need to pay a portion of the total price upfront, known as a “margin.”For example, imagine a farmer who agrees to sell 1,000 kg of onions for Rs.50 per kg in January. If the price drops to Rs.40 before January, he would normally lose money. But since he locked in the price early, he’ll still sell at Rs.50, making a profit instead.
What Are Options?
Options are also agreements between buyers and sellers, but there’s a big difference. The buyer of an option can choose whether or not to go through with the deal, while the seller has to follow through if the buyer decides to. The seller charges a small fee called a “premium” for this choice.There are two kinds of options:
– Call Options: This gives the buyer the option to buy something at a set price before a certain date.
– Put Options: This gives the buyer the option to sell something at a set price before a certain date.In short, futures are like binding promises, while options are like choices. These tools can be complex, but understanding them can help protect you from risks and even allow you to profit from market changes!
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AI Friends: The New Way to Combat Loneliness and Connect with Others!
Today, people are making new friends through AI (artificial intelligence). You can find virtual girlfriends, boyfriends, and even friendly chatbots that feel almost real! Apps like Character.ai, Replika, Candy.ai, and Urvashi (a popular AI girlfriend in India) are becoming super popular, with millions of downloads. In fact, romantic chatbots have been downloaded over 100 million times on the Google Play Store!
These apps help users create their own digital partners that can chat, share pictures, and even talk about grown-up topics if desired. Some apps, like Character.ai, allow you to chat with digital versions of different characters, like a helpful language teacher, job interviewer, or even a friend. Character AI has over 25 million active users and a wide variety of characters to choose from.
There’s also a cool gadget called FRIEND, created by Avi Schiffman. It’s a small pendant necklace that uses AI to help fight loneliness and costs around $99.
AI companionship is exciting but not without warnings. Experts say that while these AI friends can help with feelings of loneliness, people might start to expect too much from real-life relationships. Eric Schmidt, the former CEO of Google, expressed concern that relying too much on AI friends could actually make people feel lonelier. Radhika Mohta, a matchmaker in Bengaluru, noted that AI companions can help those who feel shy or misunderstood, especially in safe, judgment-free spaces.
The AI friendship industry is booming and could potentially be worth $150 billion a year by 2030. So, while having an AI partner can be fun and helpful, it’s important to remember to balance that with real human connections.
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India to Ease Satellite License Rules for Starlink and Amazon Kuiper
New Delhi: The Indian government is thinking about making it easier for companies to get satellite communication licenses. This change could help companies like Elon Musk’s Starlink and Jeff Bezos’s Amazon Kuiper provide internet services in India through satellites. Recently, Musk’s SpaceX launched an important Indian satellite called GSAT-20.
Right now, companies that want to operate satellites in India must follow 30 to 40 rules. The government plans to relax some of these rules to keep up with global practices. These changes will make it easier for satellite companies to start their services.
Officials have been discussing these changes, especially the security rules, to see which ones could be updated. The government is also scheduled to meet with satellite companies that have applied for licenses.
Right now, some Indian companies like Bharti Enterprises and Reliance Jio have already gotten approval to offer satellite services. However, both Starlink and Amazon Kuiper are still waiting for their applications to be approved due to some pending security checks.
This situation is creating tension between the global satellite companies and Indian telecom companies like Reliance Jio and Bharti Airtel. The Indian telecom companies want to make sure that satellite and telecom services are treated equally, especially when it comes to using airwaves needed for communication.
Overall, there is a lot of interest in the satellite market, which could grow big in the coming years, possibly reaching $44 billion by 2033 according to estimates.