9 Changes to Social Security in 2027

New York Attorney General Letitia James has asked a court to order defunct crypto and forex trading platform NovaTech’s founders, Cynthia and Eddy Petion, and related companies to pay $1.37 billion over its Ponzi scheme. The AG is seeking the return of about $1.13 billion in investor funds, plus $232.5 million in interest, according to a Thursday court filing. The court found the Petions and the companies liable by default in August 2025 after they failed to respond to the lawsuit. Four people who recruited investors into NovaTech have separately agreed to pay nearly $6 million in settlements intended to benefit victims, according to the AG’s office. More than 11,000 New Yorkers lost tens of millions of dollars through NovaTech and an earlier crypto mining scheme, AWS Mining, the AG’s office said. The complaint alleged that promoters targeted Haitian and other immigrant communities through prayer groups, social media and WhatsApp, promising high returns and recruitment bonuses. The filing says that investors deposited about $1.16 billion into NovaTech’s crypto wallets between August 2019 and May 2023.

Open this photo in gallery:The Home of the Week is a Regency-inspired cottage that isn't nearly as old as it looks. Mitchell Hubbel/Modern Movement Creative Inc. This week: A luxury hotel firm stirs up debate in a quaint Ontario town and developers get more creative with their perks to lure buyers. Plus, why you should pay off your mortgage before you retire, and one property worth a look. Take our business and investing news quizIn depthA luxury hotel firm and a quaint Ontario villageOpen this photo in gallery:An influx of new money, people and tourism have many in Elora wondering whose town it is. Sammy Kogan/The Globe and MailIt’s easy to see why Elora was one of the first places I was told to visit when I spent a summer in Toronto. The historic former mill town has reinvented itself as a high-end tourist destination perfect for weddings and weekend getaways. But behind the town’s picturesque exteriors, the growing presence of a luxury hotel company has sparked a debate about who gets to decide how a community grows and changes. As Greg Mercer reports, Kat Florence seems to divide the village as deeply as the gorge that runs through it.

Not everyone is familiar with the ABCs of financial planning

Open this photo in gallery:Rogers revenue totalled $5.44-billion in the third quarter, up from $5.35-billion a year ago. Tijana Martin/The Canadian PressRogers Communications Inc. RCI-B-T reported a third-quarter profit attributable to shareholders of $482-million as its total revenue edged up 2 per cent compared with a year ago. The company says the profit amounted to 88 cents per diluted share for the quarter ended Sept. 30. The result compared with a profit of $5.71-billion or $10.54 a year ago when it saw a $5-billion non-cash gain related to its stake in Maple Leaf Sports and Entertainment and $151-million gain on the redemption of long-term debt. On an adjusted basis, Rogers says it earned $1.29 per diluted share in its latest quarter, down from an adjusted profit of $1.37 per diluted share a year ago. Revenue totalled $5.44 billion, up from $5.35 billion in the same quarter last year, while service revenue amounted to $4.78-billion, up from $4.74-billion.

Bitcoin (BTC) ranged below $82,000 into Friday’s Wall Street open as stock markets slid further on AI financing concerns. Key points:Bitcoin struggled to rebound after falling more than 3% on Thursday. It briefly dropped below $81,000. AI infrastructure spending remained a persistent market concern as neocloud infrastructure provider CoreWeave slid to 17-month lows. Crypto market downside liquidated $280 million worth of long positions in 24 hours, while Bitcoin exchange-traded fund (ETF) outflows hit $635 million. Analysis warns of AI “credit stress” contagionData from TradingView showed BTC/USD stabilizing after shedding 3.2% on Thursday, falling as low as $80,840 on Bitstamp. BTC/USD one-hour chart. Source: Cointelegraph/TradingViewMarket nerves over AI-sector profitability and the cost of insuring large players against default reemerged this week. CoreWeave, a neocloud provider, was among the biggest decliners, down 15.5% week to date at the end of Thursday’s US trading session, its lowest levels since May 2025. A price target downgrade by Bernstein from $74 to $51 contributed to the pressure.

In response to losses on popular trades, hedge funds are now shorting U.S. stocks aggressively to try and win back some performance.