The case was brought by the Prosecutor’s Office at the Court of First Instance of General Jurisdiction, which stated that both men, Aleksandër Shulla, a former director of the State Intelligence Service (SHISH), and his son, Pandeli Shulla, faced a range of other criminal charges.

Court convicts former SHISH director and son

According to the prosecution statement in criminal proceedings no. 370/2023, authorities were tipped off that Pandeli Shulla was allegedly running an illegal gambling premise.

Authorities acted after receiving information that illegal games of chance were being played in a bar operated by Shulla in the 30 Vjetori neighbourhood.

Investigators would later confirm that computers and devices connected to the internet were running unlicensed gambling software resembling “Adex Casino games.”

Police investigators then raided the apartment of Shulla Senior, finding five live “7.62 mm caliber cartridges, a black handbag inside which seven “7.62 mm caliber cartridges, and two USBs with the inscriptions “Turbox” and “Kingston” were found.

Aleksandër Shulla stated that he “forgot” to hand over the ammunition after he left his director-level position.

On the drives themselves, the prosecutors described that “Two classified ‘secret’-level SHISH documents, which legally exist in single copies only, were found copied onto USB drives inside a private residence.”

The illegal gambling activity and the serious breach of classified information security led to the case being presented against both father and son.

Both men convicted of operating illegal gambling venue

The official prosecution statement read that both men were convicted of “Illegal online gambling operations conducted via computers in a bar environment. Unlawful retention of ammunition after dismissal from public office and unauthorised copying, possession, and exposure of classified intelligence materials, stored on USB drives.”

Both Albanian defendants received custodial sentences that were later reduced and suspended, resulting in probation. In addition, Aleksandër Shulla was barred from holding public office for five years.

The prosecution said the case demonstrated how an investigation into illegal gambling activity ultimately exposed a broader breach of classified information safeguards at the highest levels of public trust.

Featured image: Adobe Firefly

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“It’s in the president’s hands,” is how one person close to the process of nominating the next Fed chairman put it.

Trump began meeting with other candidates this week as he zeroes in on his decision for Fed chair. Earlier in the week, he sat down with former Fed governor Kevin Warsh, an academic at Stanford. Other candidates might make their way to the Oval for similar meetings. 

Kebin Hassett is the overwhelming favorite to take the job because President Trump is obsessed with lowering short-term interest rates. Hassett is seen as a guy who will do whatever it is to push through Trump’s agenda.  Jack Forbes/NY Post Design

But the managerial class — which is closely watching Trump’s choice for obvious reasons — sees these confabs as performative as opposed to substantive.

Hassett, every CEO and corporate executive I speak to, is the overwhelming favorite to take the job because Trump is obsessed with lowering short-term interest rates, and while the office’s current occupant just cut them a bit, Trump wants them cut more. Hassett is seen as a guy who will do whatever it is to push through Trump’s agenda. 

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“He does it three times a day,” is how one CEO described Hassett’s cheerleading of MAGA economics as he vies for a job that is supposed to be independent from the White House.

The Fed, of course, was created by Congress to be semi-independent of the White House and politics. The president chooses the chairman subject to senate confirmation, but the term lasts four years and he can only be dismissed for “cause” like doing something illegal, or Powell would be out of there by now because he has resisted Trump’s efforts for him to cut short term interest rates more and faster.

Fed Chair Jerome Powell has resisted Trump’s efforts for him to cut short term interest rates more and faster. Xinhua/Shutterstock

The Fed is also known for its “dual mandate.” It conducts what’s known as monetary policy by increasing or decreasing the money supply through various measures including adjustments of short-term interest rates to achieve what’s known as “price stability.” The other part of the mandate involves creating as much employment that’s possible before the economy overheats and causes inflation. 

It’s not an easy balancing and it often puts the Fed and the chairman who sets the policy tone at odds with the White House as Powell has been with Trump.

The betting is Trump won’t have that issue with Hassett, currently his director of the National Economic Council. Hassett has been reliable tout of MAGA policies such as tariffs, which some say has contributed to the sticky inflation that has led to the so-called affordability crisis, and ways Trump has sought to band-aid the situation by delivering tariff bonuses to many Americans or subsidies to farmers hurt in the trade war. 

Earlier in the week, Trump interviewed former Fed governor Kevin Warsh, an academic at Stanford. REUTERS

Here’s why CEO and market types are worried about making him Fed chair: He could literally spook the bond market if traders are convinced he will keep printing money and do stuff that aid Trump’s economic plans such as massive cuts in short term rates, and ignore inflation.

That could lead to investors demanding higher rates to buy our debt, and when that happens — spiking yields on the 10-year and 30-year bonds — not only do we pay more to finance the budget deficit, it will likely lead to an economic slowdown.

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As I reported, CEOs have warned the White House that a Hassett nomination could disrupt the bond markets, and presumably that’s why Trump has held those meetings earlier in the week to show he’s triple-checking his gut on his choice to replace Powell when he retires next year.

But Trump isn’t easily swayed, and he likes what Hassett brings to the table. He’s TV ready (a big presence on my employer Fox News explaining MAGA economics) and has an accomplished resume. He holds a PhD in economics from the University of Pennsylvania and has served time in think tanks and at the Fed as an economist.

Yes he checks a lot of boxes including the one that really matters: He’s a Trump loyalist, which is why the betting markets have him as the favorite.

Could Trump surprise us all? Maybe. If he does, Wall Street will be cheering. 

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The Jane Fraser-led lender named Gonzalo Luchetti, currently the bank’s head of US personal banking, as his successor.

Citi said on Thursday that Mark Mason, chief financial officer of the Wall Street giant since 2019, will leave the company next year. citi

Mason, who has been the company’s CFO since 2019, will become executive vice chair and senior executive advisor to chair and CEO Fraser starting in the spring.

But the US financial giant said that the Queens native will leave the bank before the end of next year so he can “pursue his leadership aspirations outside of Citi.”

Mason, who joined Citi in 2001, said in a statement that “serving as CFO for the last seven years” was “one of the most demanding and fulfilling chapters of my career.”

Scotland-born Fraser, 58, said that the former Goldman Sachs banker “has proven himself to be a leader for all seasons, having helped Citi navigate some of our most challenging times.”

Fraser named Gonzalo Luchetti, an Argentine national, as the firm’s incoming chief financial officer REUTERS

Luchetti, who previously worked at JPMorgan Chase and Bain & Company, will take over as CFO once the firm files its year-end reports for 2025 in March.

Citi said the Argentine national, who has been the head of US banking since 2021, had presided over solid business growth since taking up the post while modernizing its branch network and successfully strengthening risk and controls.

Luchetti used to work for JPMorgan and the consultancy Bain & Company LinkedIn/Gonzalo Luchetti

“The evolution of our leadership team and structure is well timed as it puts in place our next generation of leaders ahead of our upcoming investor day [in May] when we will lay out our plans to further grow our returns,” Fraser added.

The British-American CEO was handed a one-time bonus last month worth $25 million, along with just over 1 million stock options potentially worth tens of millions of dollars more.

The Harvard Business School graduate is in the midst of her turnaround plan to slash costs and streamline operations.

The cost of a Citi share stood at $97.63 just after the closing bell on Thursday, with the announcement of the bank’s management reshuffle being made shortly afterwards.

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On the heels of its warning about the potential impact on jobs at the end of last month, the CEO of the Betting and Gaming Council, Grainne Hurst, shared an open warning on November 7 to the Chancellor and the UK government about concern around the proposed gambling tax hike in the Autumn Budget.

Chancellor Rachel Reeves has hinted that UK gambling firms could expect to see big tax humps on sports betting, online or in betting shops, excluding horse racing, with rates rising from 15% to as high as 30%, while online slot taxes could climb from 20% to 50%.

Industry leaders have been quick to rally against the proposed plans, with one of the UK’s largest bookmakers, Betfred, warning that such a move could result in all its high-street shops closing down. Now, Hurst is also adding her voice to the criticism, warning that further tax increases would not only directly impact UK businesses but also put consumers at risk. This comes after Hurst referred to those at risk of gambling harms as a small minority while giving evidence to the Treasury Select Committee last month.

“Further tax increases on the regulated online sector risk undermining consumer protections by pushing players towards the unsafe, unregulated black market, while reducing Treasury revenues and cutting the vital funding our members provide to British sport, including horse racing, football, rugby league, darts, and snooker,” she wrote in the article published by the BGC.  “Independent analysis by EY shows such proposals could put over 40,000 jobs at risk, divert £8.4 billion in stakes to the black market, and wipe £3.1 billion from the sector’s contribution to the UK economy.”

Hurst addressed many of the concerns around supporting gambling businesses, underlining how BGC members invest their profits into protective measures to reduce gambling-related harm. As with other UK businesses, the BGC also underlined how they contribute to the UK economy through taxes already, while also providing hundreds of thousands of jobs.

UK gambling business already pay their ‘fair share’ amid tax hike plans

In terms of the current level of taxation on UK gambling firms, Hurst argued that companies are already “already highly taxed” and “highly regulated.” Currently, all online betting and gaming in Britain is taxed on a ‘point of consumption’ basis, so any bet placed by a UK customer is taxed at the point of sale, no matter where the operator is based.

In real numbers, BGC members contribute £6.8 billion ($9 billion) to the economy, generate £4 billion in tax, and support 109,000 jobs, according to data cited by Hurst.

“Much is at stake in the Chancellor’s Budget,” she concluded. “Get it wrong, and it’s not just jobs and growth that will suffer, it’s safer gambling itself. To protect consumers and support a safer, stronger industry, we must keep gamblers playing within the regulated market.”

Featured image: Canva

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Weiss, 41, will run a new, debate-style program at the Tiffany network, similar to the debates that Free Press — her buzzy, contrarian news site — streams on topics from immigration to the ethics of editing embryo genes, according to the Wall Street Journal.

The former New York Times opinion writer will report directly to David Ellison, chief executive of Paramount Skydance, as The Post exclusively reported last week.

Bari Weiss will run a new, debate-style program at CBS in the top role as editor in chief, according to a source. Getty Images for The Free Press

She will be paired with CBS News president Tom Cibrowski, a former “Good Morning America” exec, confirming The Post’s earlier coverage.

While the new media company presented the pair as equals, their status is clear: While Weiss reports to Ellison, Cibrowski’s manager is George Cheeks, chair of TV and media at Paramount and Skydance.

Weiss will be paired alongside CBS News president Tom Cibrowski (above). Getty Images

The details of the $150 million deal were not disclosed.

The transaction will likely include a mix of stock and cash and will include earn-out provisions to reach its full value, sources told The Post.

Weiss’ news site will remain a standalone property operating separately from CBS News, though it will be owned by Paramount, a source with knowledge of the deal told The Post. It is unknown whether the site could eventually be integrated into CBS News’ website.

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“Words have power, which is a great tool. But words can be harder to reverse than the interest rate,” Daly said in remarks prepared for delivery to the Western Economic Association International annual conference that did not include any comments on the economic or monetary policy outlook. “They set expectations, which can be hard to change in the event the economy evolves differently than we expect.”

San Francisco Federal Reserve Bank President Mary Daly. Bloomberg via Getty Images

In 2021, the Fed said it would keep expanding its balance sheet and would not raise rates until inflation was on track to exceed its 2% goal for some time, an approach it felt was warranted given that inflation had under-run the 2% goal for years. Analysts and many Fed policymakers now say they believe the Fed was late to start raising rates to fight rising inflation in part because of this definitive guidance.

“The lesson for me from that period is that being definitive in highly uncertain times comes with a price,” Daly said. The central bank should, she said, be flexible and dynamic in how it communicates to the public.

The Fed is currently reevaluating its policy framework, and Daly said her remarks were not specifically about that effort. The Fed is also expected to redo its approach to communications, including potential changes to its so-called “dot plot” setting out Fed policymakers’ expected rate paths and used by markets as a guide to where the Fed expects rates to go.

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