Kuwait International Airport remains open and operating flights today, continuing months of restricted but functional service that has followed a series of Iranian attacks on the facility earlier this year during the broader regional conflict involving Iran, the United States and Israel.

The airport, commonly known by its code KWI, is running operations through two active passenger terminals — Terminal 4 and Terminal 5 — while Terminal 1 remains closed for repairs following direct damage sustained during Iranian drone and missile strikes. Kuwait Airways operates out of Terminal 4, while Jazeera Airways uses Terminal 5, alongside a growing number of returning international carriers, according to travel-advisory trackers monitoring the airport’s operations throughout the year.

A year of disruption traced to February

The disruptions affecting Kuwait’s main airport trace back to Feb. 28, when Iran launched “Operation True Promise IV” in response to Israeli and American strikes under operations known as Roaring Lion and Epic Fury. The Iranian campaign targeted regional states hosting U.S. military assets, including Bahrain’s Navy 5th Fleet, the United Arab Emirates’ Dhafra Airbase and Qatar’s Al-Udeid Airbase. Kuwait International Airport was targeted as a logistics hub tied to coalition transport, and Kuwaiti airspace shut down entirely on the first day of the conflict alongside other airspaces in the region.

In the weeks that followed, the airport sustained repeated damage. A drone strike hit Terminal 1, causing minor injuries to several employees and structural damage to the building, according to Kuwait’s Directorate General of Civil Aviation. On March 8, a wave of drones and missiles targeted the airport again, igniting a large fire in one of its fuel storage tanks. Four days later, on March 12, another strike caused material damage near the site, severing several power lines when struck by drone debris. By the night of March 14, the DGCA reported that drones had struck the airport’s primary surveillance radar system.

The intensity of the campaign forced a total suspension of commercial aviation in Kuwaiti airspace for a period, with local carriers such as Jazeera Airways diverting operations to Qaisumah International Airport in Saudi Arabia, roughly a two-and-a-half-hour drive from Kuwait. At the height of the conflict, Kuwait’s national carriers were at times forced to reroute flights entirely through Dammam’s King Fahd International Airport in Saudi Arabia, requiring passengers to complete lengthy bus transfers to reach their actual flights. Most operations have since returned directly to Kuwait.

A brief closure in June, then reopening

The airport also faced a precautionary shutdown in June, when Iran launched renewed drone and missile attacks on Kuwait as part of the wider conflict. One person was killed and a dozen others were injured in the resulting violence, and flights headed toward Kuwait were rerouted to destinations including Doha, Dubai and Riyadh. Kuwait’s DGCA reopened the airport the following day, announcing on social media the “return of air traffic in Kuwaiti airspace to normal” while noting that authorities were “closely monitoring the situation around the clock in continuous coordination with relevant authorities inside and outside the State of Kuwait, to ensure the highest levels of safety and security in the airspace.”

Current conditions: open, but not normal

Despite the repeated disruptions, Kuwait International Airport has generally returned to functional operations between incidents throughout the year, according to multiple travel-advisory trackers, with its two active terminals handling both domestic carriers and a growing list of returning international airlines, including Emirates, flydubai, Air Arabia and Oman Air.

Kuwaiti airspace is currently open for arrivals and departures, but it remains closed to overflights, and each arrival and departure requires prior approval from authorities. That arrangement continues to produce day-to-day delays, and travel trackers advise passengers to treat departure times as provisional until confirmed directly by the airline. Kuwait Airways is currently flying out of Terminal 4 to destinations across Europe, Turkey, India and the Gulf, with routes in early September including Paris, Munich, Istanbul, Mykonos and Lahore outbound, and Delhi and Kochi inbound.

The European Union Aviation Safety Agency has issued a conflict-zone advisory recommending that operators avoid the Kuwaiti flight information region entirely at any altitude, citing renewed military activity following the breakdown of a U.S.-Iran ceasefire in July and continued attacks around the Strait of Hormuz. According to OPSGROUP, an organization that tracks international airspace risk, Kuwait remains closed to overflights until at least Oct. 2, with only flights arriving at or departing from Kuwait allowed, subject to prior approval.

The U.S. Embassy in Kuwait has maintained a Level 3 travel advisory urging Americans to “reconsider travel” to the country, with no recent change to that risk level. In a security alert issued this month, the embassy advised Americans traveling to or from the region to “monitor information about airport and airline operations,” warning that Iran and allied groups “may target other U.S. interests overseas or at locations associated with the United States and Americans throughout the world.”

Rebuilding and expansion continue

Separate from the immediate repair effort at Terminal 1, Kuwait has continued advancing a long-planned expansion of its aviation infrastructure. A new Terminal 2, designed by the architecture firm Foster + Partners, is expected to become operational in the final quarter of the year, according to DGCA officials. The expansion is intended to significantly boost the airport’s passenger handling capacity, from roughly 16 million passengers annually to an estimated 25 million, with a maximum design capacity of 27 million. Officials have also highlighted an adjoining Air Cargo City facility, described as one of the largest cargo hubs in the Middle East and capable of accommodating more than 77 large cargo aircraft.

The DGCA has undertaken 13 major infrastructure projects tied to the airport’s modernization, including reconstruction of its central and eastern runways, which officials say will become operational following full activation of a third runway in the coming period.

For now, travelers flying in or out of Kuwait are advised to reconfirm their routes directly with airlines, particularly if tickets were booked months in advance, as the network has been rebuilt in phases since the conflict began. Delays remain frequent even as outright cancellations have become less common, reflecting an airport that is functioning but still operating under the shadow of an active regional conflict.

Asked about President Donald Trump’s proposal to dole out $5,000 to every adult American if Republicans win both chambers of Congress during the midterm elections, Florida Gov. Ron DeSantis warned that borrowing to spend would cause more inflation.

“What I would say is, if you are getting surplus revenue, you should cut people’s tax and return it to the people,” DeSantis said on Thursday. “What I don’t think you wanna do is borrow another … trillion and a half dollars and then just try to flood that into the economy, because that will lead to more inflation. That will lead to more debt,” he said, “and more inflation.”

With the election on the horizon, President Donald Trump declared during remarks at the Republicans’ midterm convention on Wednesday that “because of our tremendous strength and success economically, I will issue a dividend to every adult citizen in the United States of America for $5,000” if the GOP wins the House and Senate.

TRUMP’S $5,000 DIVIDEND PROPOSAL COULD ADD $1.2T TO FEDERAL DEFICIT, ANALYSTS SAY

Florida Gov. Ron DeSantis delivers his State of the State address during the first day of the legislative session at the Florida State Capitol on Tuesday, Jan. 13, 2026, in Tallahassee, Fla. (Matias J. Ocner/Miami Herald/Tribune News Service via Getty Images / Getty Images)

“The only caveat I have is that the dividend that we’re making must be spent in the United States of America,” Trump said. “So if the Republicans win, you win with us and you get $5,000. It will be called the Trump dividend,” he declared.

The U.S. national debt recently surpassed the $40 trillion mark.

AMERICA’S $40T NATIONAL DEBT IS ‘STEALING FROM OUR NEXT GENERATION,’ ECONOMIST WARNS

DeSantis noted that it is becoming increasingly costly to service the U.S. national debt, predicting that the issue will “lead … to some upheavals, unfortunately,” adding, “I hope I’m wrong.”

The governor advocated for a Constitutional amendment to require a balanced federal budget.

‘NONE OF THE GOVERNMENT’S DAMN BUSINESS’: DESANTIS PUSHES BACK ON HIGHWAY SURVEILLANCE

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“But the way it works now in Congress, their incentives are to add debt for short-term political benefit,” DeSantis said. “They never have to make tough decisions.”

Fox News Digital reached out to the White House for comment on Friday.

When results from a British clinical trial of a repurposed diabetes drug reached a leading medical journal in December 2025, the finding carried a quiet backstory about who pays for early science.

The study suggested that liraglutide could slow cognitive decline and brain shrinkage in people with mild Alzheimer’s disease. Years before those headlines appeared, the philanthropic record of Sir Evelyn de Rothschild had already touched this field through the family foundation he built around medical research. His giving offers a useful case study in how private capital underwrites experimental work long before any result is certain, and in how a single grant can travel a long way from the donor who signs it.

A trial that put an old drug to a new test

The trial, known as ELAD, tested liraglutide, a compound first developed for type 2 diabetes and obesity. Researchers recruited 204 participants with mild to moderate Alzheimer’s across two dozen clinics in the United Kingdom, giving half a daily injection and half a placebo over the course of a year. Professor Paul Edison of Imperial College London led the work, and the team reported that patients on the drug held on to more brain volume and showed slower cognitive decline than those on placebo.

The group, working on a phase 2b study coordinated at Imperial College London, presented its main findings at a major dementia conference in 2024, with the full paper appearing in the journal Nature Medicine the following year. Edison framed the outcome in plain terms, telling reporters that liraglutide appeared to be “protecting the brain, much like statins protect the heart.” The comparison signaled cautious optimism rather than a cure. The drug belongs to a class of medicines now studied for their effects on the brain, and the ELAD result added weight to the idea that metabolic pathways matter in dementia.

A funding chain that started with private giving

Trials of this kind rarely happen without patient funders willing to back unproven ideas. Edison secured support from three sources: a British dementia charity, a pharmaceutical company, and a New York nonprofit that specializes in early-stage drug work. That nonprofit, the Alzheimer’s Drug Discovery Foundation, operates on a venture-philanthropy model, channeling donations into projects that traditional funders often pass over.

The connection to Sir Evelyn de Rothschild runs through that foundation. Grant records of the charitable foundation he established in 1967 show sustained support for the Alzheimer’s Drug Discovery Foundation across several years, including a grant earmarked for the liraglutide clinical trial at Imperial College London. The relationship spanned multiple awards through the 2010s, part of a broader pattern of medical-research giving that the Foundation has maintained since its earliest days.

The arrangement illustrates a layered model of philanthropy. Money moves from a family foundation to a specialist grantmaker, then to a university laboratory, and finally into a trial that may or may not succeed. Each link in that chain absorbs some uncertainty so the science can proceed, and each keeps the original donor several steps removed from the eventual result.

A disease that outpaces its treatments

The urgency behind this funding reflects the scale of the disease. The World Health Organization estimates that more than 55 million people live with dementia worldwide, with Alzheimer’s accounting for most cases, and that figure is projected to climb as populations age. Care costs run into the hundreds of billions of dollars each year, borne by families and health systems alike.

Progress on treatment has been slow and uneven. For years, drug candidates failed in late-stage trials, and approved therapies have delivered modest benefits. That record makes patient, diversified funding valuable, because it spreads support across many approaches rather than concentrating on one. A repurposed diabetes drug, a mitochondrial molecule, and an antibody therapy each represent a separate route toward the same goal.

Philanthropic money has a particular use in this setting. It can move quickly, tolerate failure, and support ideas that lack an obvious commercial path. The medical grantmaking associated with Sir Evelyn de Rothschild sat squarely in that space, funding questions rather than products and accepting that answers would arrive slowly, if at all.

Targeting the cell’s power supply

The Foundation’s interest in dementia science extended beyond a single drug. Its medical grants have reached laboratories studying the biology of the disease itself, including work on how brain cells produce and manage energy. At Mayo Clinic in Minnesota, researcher Eugenia Trushina has spent years investigating mitochondria, the structures that power neurons, and their part in the earliest stages of Alzheimer’s.

Her laboratory at Mayo Clinic has focused on a component of cellular energy production called complex I, and on small molecules that can adjust its function to protect brain cells. The approach differs from the amyloid-focused strategies that dominated dementia research for decades, and it reflects a growing view that metabolic breakdown appears early, sometimes before memory loss begins.

Support for this line of inquiry fits the pattern of Sir Evelyn de Rothschild’s medical philanthropy, which favored fundamental questions over quick wins. Grantmaking of this type accepts that many projects will never produce a marketed therapy. The payoff, when it comes, tends to arrive as knowledge that shapes the next generation of experiments rather than as an immediate cure.

A foundation built for the long horizon

Sir Evelyn de Rothschild created his foundation in 1967, giving it a name his father had coined from the names of his three children. The Foundation grew into one of the larger charitable trusts in Britain, distributing roughly four to five million pounds each year across medicine, education, social welfare, and the arts. Its own description of its work lists cutting-edge research into Alzheimer’s alongside economics and the arts, a signal of how central medical science became to its mission.

Health giving formed a durable thread through that record. The Foundation backed a children’s hospital nursing scholarship, hospice care, and cancer support services, in addition to the dementia research described here. The banker who directed much of this work, Sir Evelyn de Rothschild, approached charity with the same long view he brought to finance, where he led the family bank for nearly three decades. That temperament suited medical research, a field measured in decades rather than quarters.

The pattern also shows up in how the Foundation spread its medical support. Rather than concentrate on one institution or one condition, it funded clinical trials, laboratory science, and patient care across separate centers and countries. That spread mirrors the logic of a diversified portfolio, where the aim is to keep several promising bets alive at once. Applied to health research, the method reflects a recognition that no single laboratory holds the answer, and that progress usually emerges from many independent efforts pursued in parallel.

Why early money matters

The liraglutide result did not settle the question of how to treat Alzheimer’s. It offered a signal, one data point among many, that a familiar drug might slow the disease. Larger studies will test whether the effect holds. That uncertainty is the point of early philanthropy, which exists to fund the stage at which no one yet knows the answer.

Sir Evelyn de Rothschild died in 2022, and the foundation he shaped continues its grantmaking under the family’s direction. The science it helped support moves forward on its own timeline, through trials, laboratories, and journals far removed from the world of banking. The connection between a private foundation and a peer-reviewed dementia study is easy to miss, yet it captures something durable about how research gets funded. Discovery of this kind depends on donors willing to wait.

The federal government’s annual budget deficit reached $2 trillion after the first 11 months of fiscal year 2026, the nonpartisan Congressional Budget Office (CBO) reported.

The CBO’s monthly budget update for August noted that the 11-month deficit total was $6 billion lower than the same period last year, though it explained that the difference was caused by shifts in the timing of certain payments around Labor Day in 2025 and that the current deficit would’ve been $82 billion more than last year’s shortfall if not for those shifts.

Federal spending has risen by $147 billion, or 2%, compared with last year, though CBO noted that figure would be an increase of $235 billion, or 4%, after accounting for those timing adjustments. Tax receipts are up $154 billion compared with the same period last year.

The increase in spending was driven mainly by mandatory spending programs – including Social Security, Medicare and Medicaid – as well as interest expenses incurred from servicing the national debt.

TRUMP’S $5,000 DIVIDEND PROPOSAL COULD ADD $1.2T TO FEDERAL DEFICIT, ANALYSTS SAY

The U.S. budget deficit reached $2 trillion in the first 11 months of fiscal year 2026, CBO reported. (J. David Ake/Getty Images)

Spending on Social Security benefits rose by $78 billion, or 5%, from last year due to increases in average benefit amounts and the number of beneficiaries. Medicare spending rose $73 billion, or 8%, due to increased enrollment – while Medicaid outlays increased $47 billion, or 8%, due to higher costs per enrollee.

Interest expenses on the national debt increased by $111 billion, or 12%, because of the larger national debt relative to a year ago and because of higher long-term interest rates. Declines in short-term interest rates partially mitigated the overall rise in interest payments.

Other notable spending increases occurred within the Department of Veterans Affairs, which saw a rise of $41 billion, or 14%, due to more people receiving veterans’ benefits and higher spending per person; while the Department of Defense’s spending rose by $41 billion, or 5%, from a year ago due to higher spending on military personnel and research and development.

AMERICA’S $40T NATIONAL DEBT IS ‘STEALING FROM OUR NEXT GENERATION,’ ECONOMIST WARNS

Spending by the Department of Education decreased by $79 billion, or 56%, though this was largely due to a reduction of $53 billion being recorded in the estimated costs of outstanding student loans in June 2026 after a $24 billion increase was recorded in July 2025.

CBO reported that tax receipts have risen 3% in FY2026, up $154 billion from a year ago. Individual income tax receipts rose $189 billion, or 8%, while payroll taxes increased $50 billion, or 3%, in the first 11 months of the fiscal year. Customs duties, including tariffs, were up $1 billion, or 1%, in that period.

Those tax revenue gains were partially offset by a decline of $96 billion, or 25%, in corporate income taxes due to 2025 tax reforms under the One Big Beautiful Bill Act.

US NATIONAL DEBT HITS $40 TRILLION MILESTONE FOR FIRST TIME EVER

Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget, said in a statement that the federal government’s borrowing this year has surpassed what was borrowed in the entirety of last year, and may rise further in September, the final month of FY2026.

“Such extraordinarily high deficits are just one piece of our fiscal situation that is falling apart. The gross national debt recently hit the sobering milestone of $40 trillion; we’re now spending more on yearly interest costs than on our national defense; debt held by the public exceeds the size of our entire economy; and trust funds for programs that tens of millions of Americans rely on face insolvency in less than a decade,” MacGuineas said.

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“It is clear that we have delayed the hard choices for far too long,” she added. “If lawmakers want to fix our laundry list of issues, they should come together and agree to a plan to target reducing deficits to 3% of GDP – half their current level – and get to work on shoring up our trust funds,” MacGuineas said. “If not, we risk leaving future generations with damage that can’t be undone.”

Dubai International Airport is open and operating today, running scheduled flights across its terminals even as scattered delays and cancellations ripple through the wider region amid an escalating conflict involving Iran and its neighbors.

The airport, known by its code DXB and the world’s second-busiest by passenger traffic, has continued flying largely on schedule throughout 2026 despite periodic disruptions tied to hostilities between the United States, Israel and Iran that have hit other airports across the Gulf far harder. Dubai Airports, the government entity that runs the emirate’s civil aviation infrastructure, has confirmed that both Dubai International and its secondary hub, Al Maktoum International at Dubai World Central, have kept operating through the year’s worst episodes, even as some individual routes were rerouted or adjusted.

Delays and cancellations reported this morning

Multiple flight delays were recorded at airports across the United Arab Emirates this morning, according to Gulf News, while several UAE and international carriers continued to operate with cancellations, reduced services or schedule changes. Etihad Airways reported technical delays on two long-haul flights, while flydubai and Air Arabia cancelled a number of services to Bahrain and Kuwait.

At Dubai International specifically, flydubai cancelled its FZ025 flight to Bahrain and FZ8501 to Kuwait, while other delayed or cancelled departures Thursday morning included Emirates’ EK564 to Bangalore and EK039 to Birmingham, flydubai’s FZ971 to Sochi, and Turkish Airlines’ TK761 to Istanbul. Jazeera Airways’ J9122 from Dubai to Kuwait and Airblue’s PA811 from Dubai to Multan were also listed as cancelled. Emirates’ own flights to Bahrain and Kuwait, including EK837, EK839 and EK857, were scheduled to operate as planned, with the airline advising passengers to check its official channels for the latest updates.

Gulf News noted that not all of the disruptions are necessarily tied to the regional security situation, with some delays and cancellations attributable to routine operational or technical causes.

Regional tensions driving the disruption

The scattered delays come as tensions across the Middle East continue to escalate. There have been reports of a possible strike on Saudi Arabia’s East-West oil pipeline, attacks on vessels near Oman’s Khasab, and continuing fallout from clashes between U.S. and Iranian forces. Houthi forces have seized Yemen’s Red Sea port of Mokha, and Brent crude has climbed above $107 a barrel. Saudi Arabia has activated early-warning systems in its southern Asir region following missile and drone attacks, while Israel has said it destroyed major Hezbollah tunnel infrastructure in southern Lebanon.

Despite that backdrop, Dubai has remained comparatively insulated. The instability tracing back to the conflict has weighed most heavily on smaller and more exposed airports elsewhere in the Gulf, particularly Kuwait’s main international airport, which sustained direct damage from Iranian strikes earlier this year and continues operating out of two of its terminals while a third remains closed for repairs.

International carriers slowly restoring service

A number of international airlines have moved to restore or expand their Dubai schedules in recent weeks. Turkish Airlines has resumed its Dubai and Abu Dhabi services, though its flights to Iran remain suspended. Qatar Airways is running multiple daily Dubai flights and has also resumed service to Bahrain, Kuwait and Erbil, with its network now recovered to more than 160 destinations, or roughly 85% of its pre-war footprint. Air India and Air India Express have restored their full Gulf Cooperation Council networks, together operating about 780 weekly flights between India and the region.

Other carriers remain more cautious. Air France has suspended Dubai flights until Sept. 15, citing persistent regional airspace risks, while its Beirut service stays grounded through Sept. 24. British Airways has kept its Dubai and Abu Dhabi routes suspended, with Dubai service not expected to resume until Oct. 25 at reduced frequency. KLM has paused flights to Dubai, Riyadh and Dammam until Oct. 24 and continues to avoid the airspace over Iran, Iraq, Israel and parts of the Arabian Gulf. Lufthansa, Eurowings and Swiss have similarly kept Dubai service suspended through Oct. 24, even as they restore some other Middle East routes.

Longer suspensions remain in place elsewhere in the industry. Air Canada has paused Dubai flights until mid-January 2027, and Virgin Atlantic does not expect to resume service until October 2027, though it says tickets for that return will go on sale later this year. Singapore Airlines, ITA Airways, Finnair and AirBaltic have each suspended Dubai routes until Oct. 24, while Cathay Pacific has cancelled Dubai and Riyadh passenger flights through Nov. 30, offering affected travelers rebooking, rerouting or refunds. Korean Air’s Incheon-Dubai route remains suspended until further notice.

Shifting travel advisories

Government travel guidance for the UAE has eased in several countries even as the broader region remains volatile. The United Kingdom’s Foreign, Commonwealth & Development Office has lifted its blanket warnings against all but essential travel for major regional hubs, including Dubai, Abu Dhabi, Kuwait and Qatar, though it continues to warn that conditions remain unpredictable. Australia has lowered its UAE travel advice from a Level 4 “do not travel” warning to Level 3, urging travelers to reconsider their need to travel.

The United States, however, continues to list the UAE, Saudi Arabia, Jordan and Oman at Level 3, “Reconsider Travel,” citing risks linked to armed conflict, drone and missile interceptions, and major commercial flight disruption; non-emergency U.S. government staff and their families have been ordered to leave the UAE. Canada continues to advise a “high degree of caution” for travelers in the UAE, Bahrain, Kuwait and Qatar, recommending that travelers keep documents current and maintain sufficient supplies in case flights are suspended and they are required to shelter in place.

What travelers should expect

Airlines and travel platforms are urging UAE-bound and departing passengers to check their individual flight status before heading to the airport, even for previously confirmed bookings, given how quickly schedules can shift. Travelers are advised to arrive at least three hours before departure, or four hours if flying flydubai, complete online check-in where available, and build in extra time for traffic, security and immigration processing.

For now, Dubai International Airport remains open and largely on schedule, a contrast to the more severe disruptions still affecting several of its neighbors, though officials continue to caution that the situation across the region can change quickly.

J.P. Morgan this week named Nelle Miller and William Sinclair as the new co-CEOs of its U.S. Private Bank, a specialized wealth management division that serves important clients.

The Private Bank is one of the largest providers of wealth management services with more than $2.4 trillion in total client assets and 57 offices nationwide, according to its website.

Miller also serves on the Asset & Wealth Management Operating Committee and the Global Private Bank Operating Committee and chairs the Advisory Council for the New York City Market Leadership Team.

She previously led the largest region in the U.S. Private Bank, the New York business, along with the Family Office Investments and Advice, overseeing the company’s Global Investment Opportunities, outsourced chief investment officer and Morgan Private Advisory organizations nationally, “serving the firm’s largest families and most complex clients.”

JPMORGAN NAMES 2 CO-PRESIDENTS, SETTING UP RACE TO SUCCEED JAMIE DIMON

J.P. Morgan this week named Nelle Miller and William Sinclair the new co-CEOs of its U.S. Private Bank, a specialized wealth management division that serves important clients. (Jemal Countess/Getty Images for Time; J.P. Morgan Private Bank/Linkedin / Getty Images)

Miller was a founding member of the Global Investment Opportunities team.

“I have spent my career alongside clients through market cycles and the most meaningful moments in their families’ lives, and Will and I are fortunate to lead a team that knows our clients just as deeply,” Miller said in a statement, according to outlet Pulse 2.0. 

“The decisions families face today are more interconnected than ever, spanning private markets, liquidity and multigenerational planning. This is an extraordinary opportunity to build on everything that makes this business special.”

She joined J.P. Morgan in 2002 on the Institutional Equities Desk, where she covered New York-based hedge funds and mutual funds as a research salesperson.

J.P. Morgan in New York City (Marcin Golba/NurPhoto via Getty Images / Getty Images)

“Nelle continues to personally advise some of New York’s most prominent families,” her biography on the J.P. Morgan website says. “As a leader of the Private Bank, she is a dedicated mentor to many young women across the firm and takes an active role in their career.”

DOJ PROBES JPMORGAN, CITIGROUP TRANSACTIONS TIED TO IRAN SUPREME LEADER’S BUSINESS NETWORK

Jamie Dimon, CEO of JPMorgan Chase, speaks at an event in July.  (Saul Loeb/AFP via Getty Images / Getty Images)

Sinclair, who joined J.P. Morgan in 2007, is also global co-head of the Family Office Practice as well as a member of the U.S. and Global Private Bank operating committees.

“William leads with a client-first mindset and oversees more than 5,500 professionals in 57 offices across the United States. Together, they serve individuals, families, family offices, and institutions across a broad range of wealth management needs,” his biography says.

Sinclair worked for 10 years as a senior private banker working with business leaders, hedge fund managers and J.P. Morgan executives on their personal financial needs.

JAMIE DIMON SAYS HE UNDERSTANDS WHY PEOPLE HAVE GROWN ‘ANTI-RICH’

A J.P. Morgan building in San Francisco (Smith Collection/Gado/Getty Images / Getty Images)

He also previously led the Financial Institutions Group and the U.S. Family Office Practice.

“Nelle and I are honored to take on this responsibility together and bring the global scale of the Private Bank to families and markets across the U.S.,” Sinclair said in a statement, Pulse 2.0 reported. 

“We have a fantastic franchise with exceptional people and an unparalleled breadth of capabilities. Our focus will be on delivering the full power of J.P. Morgan to our clients and continuing to attract and develop the best talent in the industry.”

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Their appointments follow David Frame being named in July 2025 as global CEO of J.P. Morgan Private Bank.

FOX Business has reached out to J.P. Morgan for comment. 

Former first son Hunter Biden lashed out online after his $LAPTOP meme coin collapsed, blaming a “f–k up” that left four out of five investors with losses, while one mystery trader came away with nearly $1 million.

Biden chose the name $LAPTOP in a nod to the laptop controversy that became the subject of political controversy surrounding him and his father, former President Joe Biden. The hard drive from the laptop dropped off at a Delaware repair shop in 2019 contained thousands of emails documenting Hunter Biden’s international business dealings, as well as intimate photographs and videos revealing his cocaine and alcohol addiction, prompting scrutiny by Republican lawmakers into the father and son.

Hunter Biden has said the symbol used to target him is now a symbol of “resilience, redemption and recovery.”

Biden claimed the issue began shortly after trading started on Wednesday because the project’s market maker supplied significantly less liquidity than needed to handle the initial demand.

HUNTER BIDEN LAUNCHING A LAPTOP-THEMED CRYPTOCURRENCY

Former first son Hunter Biden lashed out online after his $LAPTOP meme coin collapsed. (Kevin Dietsch/Getty Images / Getty Images)

“There was a f–k up. The f–k-up occurred in the first 30 seconds of launching the coin, in which the market maker, for some unknown goddamn reason, only put in $5,000 of liquidity. And the demand was through the roof,” Biden said on Friday in a video posted on X.

The project’s thin liquidity pool helped drive the token’s quoted price from $2.39 to an eye-popping $316 before it crashed.

Biden said his coin’s value was briefly “larger than the market cap of f–kin’ goddamn BlackRock,” adding that the price chart “looked like Mount Everest.”

BlackRock’s market cap is upwards of $175 billion.

The mystery trader turned a roughly $250,000 bet into $1.18 million within just minutes, earning about $930,000 before transaction costs, according to a blockchain analysis by Datavault AI.

But other traders were less fortunate, as about 80% of traders who bought $LAPTOP on launch day lost money, according to blockchain analytics firm Bubblemaps, which estimated that more than 15,000 wallets ended up in the red.

A buyer who invested roughly $200,000 when $LAPTOP was near its brief peak was left holding tokens worth about $2,000 after the collapse, according to Datavault AI.

Four out of five investors suffered losses, while one mystery trader came away with nearly $1 million. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

“This is my f–king token,” he said in the video. “I’ve been working on this thing for six months straight.”

“I was intimately involved in every single discussion, every single step of the way in creating the tokenomics, in creating the way in which the coin would be presented,” he continued. “At the end of the day, it’s my responsibility, and there was a f–k-up.”

Biden said the situation had stabilized, but acknowledged that investors had already been hurt.

“They got it under control, but not before the damage was done,” he said.

Biden said he plans to stick with the project and repair the damage, although he did not elaborate on whether this means compensating investors.

WHAT ARE MEME COINS? THE HIGH-RISK CRYPTO ASSETS EXPLAINED

Hunter Biden said he plans to stick with the project and repair the damage. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

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“I am in this to the end 100%, and I promise you that we’re gonna make it right,” he said.

He said the project was working to increase liquidity and trading volume.

“This isn’t some bulls–t f–king celebrity token where I get on Twitter and say, ‘Oh, I didn’t know about this, and, you know, I’m really sorry,’” Biden said.

“Biden also said he and his partners had “not made a single dollar” from the project, previously disclosing that they were in a six-month lockup period that prevented them from selling their token holdings.

The debate over basketball’s greatest player of all time has followed LeBron James through four franchises and 24 NBA seasons, and it isn’t going anywhere now that he’s a Philadelphia 76er. Hall of Famer Ray Allen, who played alongside James and against Michael Jordan during his 18-year career, has made clear in recent years that his vote still belongs to Jordan.

James signed a two-year, $8 million contract with Philadelphia in July, ending his eight-season run with the Los Angeles Lakers and setting up what he has called his “last decision” as a player. The move reunites him with Joel Embiid, his teammate on the United States’ gold medal-winning 2024 Olympic team, and pairs him with All-Star wing Jaylen Brown, whom the 76ers acquired from Boston in a blockbuster trade. Philadelphia also completed a separate trade sending rookie forward-center Johni Broome to the Los Angeles Clippers to clear salary-cap room for James and veteran guard Kentavious Caldwell-Pope.

Allen’s long-standing position on Jordan

Allen, who won two NBA championships and is best remembered for his game-tying 3-pointer in Game 6 of the 2013 Finals as James’ teammate on the Miami Heat, has repeatedly and consistently sided with Jordan in the sport’s defining debate. In an interview with Dan Patrick, Allen offered a direct comparison of the two stars.

“I think [James] certainly, just off the cuff, he’s certainly in the top five of all time. But playing against him and MJ, I think for me it’s MJ all day long,” Allen said. “MJ just had everything, from mid-range to 3-point to post-up game, and he could score and dominate in each position.”

Allen expanded on that assessment in a separate conversation with CBS Sports, crediting Jordan not just for his on-court dominance but for the way he transformed the league commercially.

“In my opinion, M.J. is the GOAT,” Allen said. “LeBron is a product of M.J., so a lot of what’s in LeBron — in his DNA — comes from Michael. For anybody that says that LeBron is the GOAT, they’re growing up in today’s era.”

He continued: “They believe what they believe based on how it feels and what he means to them, and that’s OK. But the way MJ affected the game, man, he had a stranglehold on the league and he struck fear in everyone because he was an unstoppable player.”

A viral moment with young fans

Allen’s most widely circulated comments on the topic came not from a formal interview but from a video that spread across social media, showing him debating the question with a group of young basketball players. When one fan argued in James’ favor, describing him simply as someone who “can score and pass it,” Allen responded with a rapid-fire challenge to the logic.

“Is he a great free throw shooter? Is he a great 3-point shooter? Is he a great dribbler?” Allen asked. After the fans acknowledged James doesn’t lead the league in any of those specific categories, Allen pressed the point further: “So you’re saying he’s the GOAT when he ain’t even great in all them categories?” He closed the exchange by naming his pick outright: Jordan.

The moment drew criticism from some fans and analysts, who noted that Jordan himself was never known as an elite 3-point shooter and that James remains one of the most well-rounded players in league history, ranking among the sport’s all-time leaders in scoring, assists and rebounding. Still, Allen has not wavered from his position in subsequent public comments, pointing instead to Jordan’s two-way dominance and cultural impact as the deciding factors.

Why the debate resurfaces now

James enters his 24th NBA season, a league record, as he begins his tenure in Philadelphia. He is the NBA’s all-time leading scorer and has appeared in 10 NBA Finals, winning four championships across three franchises — Miami, Cleveland and Los Angeles. Should he add a title with the 76ers, he would become the first player in league history to win a championship with three different teams, a milestone that supporters argue would only strengthen his case in the GOAT conversation.

Jordan, by comparison, played 15 seasons and won all six of his NBA Finals appearances with the Chicago Bulls, along with five MVP awards to James’ four. Jordan also won Defensive Player of the Year in 1988 and led the league in steals three times, statistics Allen and other Jordan supporters frequently cite as evidence of his more complete two-way game.

James’ arrival in Philadelphia has been framed by the 76ers organization and by James himself as a final opportunity to add to that championship résumé. In announcing the move, James described it as a chance to “energize a new fan base” after strongly considering retirement following the end of his 23rd season with the Lakers.

“I believe I can help make the Philadelphia 76ers a championship team and I am so excited to energize a new fan base and start this incredible journey one last time,” James wrote in a social media post announcing his decision in July.

A debate without an ending

The Jordan-James argument has become one of the most enduring conversations in American sports, and Allen is far from alone among former players in weighing in. Hall of Famer Allen Iverson, who faced both stars in their primes, has offered a different view, calling James “the best overall basketball player that we’ll ever see.” Former teammate Dwyane Wade has similarly stopped short of crowning either man outright, noting that the debate often comes down to generational loyalty more than statistical analysis.

For Allen, though, the answer has remained consistent across multiple interviews spanning several years: Jordan’s all-around dominance, defensive impact and outsized influence on the sport’s global growth outweigh James’ record-setting longevity and statistical accumulation. Whether a potential championship run in Philadelphia changes that calculus for Allen, or for the wider public, is likely to remain a live question throughout James’ 24th season.