Hanes had been duped by cryptocurrency scammers in a ‘pig butchering’ scam where he took money out of the Kansas bank to send to the scammers’ wallets. Federal prosecutors said that the scam appealed to his greed. The embezzlement led to the bank collapsing and being taken over by the Federal Deposit Insurance Corporation (FDIC).…
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Legal experts reportedly indicated this could heighten the prosecution risk of those trading in virtual currencies. Based on a report in the South China Morning Post, Shao Shiwei, a lawyer from the Mankun Law Firm in Shanghai, pointed out that this court's judicial interpretation affects Chinese crypto investors in mainland China. He allegedly wrote: From…
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This broader collaboration enables the companies to offer Fastlane by PayPal, a functionality that will expedite digital checkout flows for enterprise and marketplace customers. According to the digital payment giant's press release, this initiative will be rolled out in the US before extending it to its global customer base. Both companies believe Fastlane by PayPal…
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Bloomberg reported that economists from Goldman Sachs (GS) and Wells Fargo & Company (WFC) expect that preliminary labour revisions will reflect a 600,000 weaker payroll growth in the year leading up to March 2024. JPMorgan Chase & Company (JPM) predicted a decline of 360,000, but Wells Fargo thinks that it may even be as much…
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These layoffs allegedly include approximately 600 positions at the company’s tech campus near Detroit. The dismissals follow hot on the heels of GM executive changes in operations. This includes the appointment of Mike Abbott, a former Apple Inc. (AAPL) executive, who, citing health reasons, resigned from GM in March 2024 after less than a year…
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According to the regulator’s press statement, this is the first time that it has cancelled an AFSL after a compensation payment by the Compensation Scheme of Last Resort (CSLR). This scheme aims to help victims who suffered losses due to financial misconduct and restore faith in the Australian finance industry. Established in June 2023, the…
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Analysts attributed the growth to boosts received from the sale of football shirts and other merchandise triggered by England’s Euros final. Other contributing factors were sales of alcoholic drinks, electronics and discounted sports equipment. Clothing and footwear, and homeware sections, experienced a 0.6% backslide. Sales in food flatlined, staying more or less the same. The…
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On Thursday 15 August 2024, the German life sciences company announced that the third US Circuit Court of Appeals in Philadelphia ruled in its favour against the plaintiff, David Schaffner. CNBC reported that a three-judge panel found that the Federal Insecticide, Fungicide, and Rodenticide Act “demands uniformity of state law labelling requirements, preventing the obligation…
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In recent weeks, hedge funds have appeared more cautious in their investment strategies. A TradingView report shows that many of these pooled-capital outfits have lowered their market exposure, and this may suggest wariness regarding the current economic clime. The latest predictions hint that the US Federal Reserve might start slicing interest rates in September 2024.…
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In an exclusive CNBC interview, the company’s CEO, Jack Zhang, stated that the next annual recurring revenue (ARR) target is $1bn, in preparation for going public in 2026. The Singapore-based firm is backed by China’s Tencent Holdings (0700.HK), an investor in digital marketing and fintechs, among others. Don’t miss out the latest news, subscribe to…
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