New Jersey Democrats Approve Bill to Punish Towns Fighting Affordable Housing By Withholding State Grants and Financial Aid
NJ lawmakers give housing-compliant towns first shot at state grants Trenton, NJ – New Jersey’s Democrat lawmakers are making their point clear to municipalities across the state: build high density affordable housing,…
Two Stabbed After Rideshare Financial Disagreement
ALLENTOWN, PA – Two people were stabbed in Allentown after getting into a verbal disagreement over money owed from a ride given to them by the victim. With the price of gas…
Russia’s Financial System Is Booming While The US Faces A Recession
Russia’s Financial System Is Booming While The US Faces A Recession Micaela Burrow on June 27, 2022 Russia’s financial system is booming in spite of strict sanctions, according to the International Institute…
Germany financial watchdog sees limited impact of Ukraine war on financial system
BERLIN – Germany’s financial stability committee on Monday said the direct effects of Russia’s war on Ukraine are manageable for Germany’s financial system as a whole as the direct claims of German…
Former Financial Advisor Sentenced to Prison for Defrauding Close to $6 Million Dollars from Clients and Spending it on Extramarital Affairs
Miami, Florida – Yesterday, a federal district judge in Miami sentenced German Nino, a former UBS Financial Advisor, to 78 months in federal prison for stealing millions of dollars from client accounts…
RedBird backing Raymond James exec for asset, wealth manager venture -sources
By David French NEW YORK – RedBird Capital Partners is partnering with an outgoing executive from Raymond James Financial Group to establish a new asset and wealth management platform, sources familiar with…
Warner Music CEO Cooper to step down by end of 2023
(Reuters) -Warner Music Group in a regulatory filing on Wednesday said its longest-tenured chief executive, Steve Cooper, will leave the media company by the end of next year. Cooper was appointed CEO…
Capital One Financial Corporation to Webcast Conference Call on Second Quarter 2022 Earnings
MCLEAN, Va., June 21, 2022 — On Thursday, July 21, 2022, at approximately 4:05 p.m. Eastern Time, Capital One Financial Corporation (NYSE: COF) will release its second quarter 2022 earnings results. Additionally,…
Russian rouble firms to 7-year high past 53 vs dollar in Moscow trade
MOSCOW – The rouble jumped on Wednesday to its strongest mark in seven years against the dollar and euro, supported by capital controls, a favourable upcoming tax period and Russia’s trade surplus.…
Four Men Convicted of Federal Financial Crimes Involving Money Laundering, Structuring, Wire Fraud, and Bank Fraud
Louisville, Kentucky – On May 24, 2022, a former Louisville, Kentucky resident was convicted and sentenced for conspiring to commit money laundering by assisting in the unlawful purchase of automobiles with criminal…
Apple workers at Maryland store vote to unionize, a first for the U.S.
(Reuters) – Apple Inc workers in Maryland voted on Saturday to join a union, becoming the first retail employees of the tech giant to unionize in the United States. More than 100…
Stocks in biggest weekly loss since 2020 on interest-rate worries
By Koh Gui Qing NEW YORK – World stocks on Friday closed out their steepest weekly slide since the pandemic meltdown of March 2020, as investors worried that tighter monetary policy by…
Ukraine receives first funds through IMF account, PM says
KYIV -Ukraine has received a loan of one billion Canadian dollars ($770 million) on concessional terms, its first funds through an “administered account” set up by the International Monetary Fund, Prime Minister…
Private equity industry faces ‘perfect storm’ as market turmoil bites
By Emma-Victoria Farr BERLIN – Private equity investors gathered in Berlin at their annual get-together are fretting a season of record buyouts is drawing to a close after a week of market…
Revlon files for bankruptcy, blames supply chain snags
By Praveen Paramasivam, Maria Ponnezhath and Dietrich Knauth (Reuters) -Cosmetics maker Revlon Inc has filed for bankruptcy, falling victim to global supply chain disruptions that pushed up raw material costs and prompted…
Mexican financial system stable but global risks weigh -central bank
By Kylie Madry and Brendan O’Boyle MEXICO CITY – Mexico’s financial system is resilient and solid despite international economic and geopolitical volatility, the central bank chief said on Wednesday during the introduction…
Manulife Asia on track for 2025 earning goal despite economic weakness
By Selena Li HONG KONG – Manulife Financial’s Asia unit is on track to account for half of the Canadian insurer’s core earnings by 2025 despite economic slowdowns and impact of COVID-19…
Ex-CBA unit fined $1.2 million for charging fees from dead pensioners
(Reuters) -Australia’s corporate regulator on Wednesday fined a former unit of top lender Commonwealth Bank A$1.7 million ($1.2 million) for charging fees from deceased superannuation members. The unit, Avanteos Investments, was a…
U.S. financial firms push back on SEC bid to rein-in blank check company deals
By Katanga Johnson WASHINGTON – U.S. financial industry groups are pushing to water down a draft Securities and Exchange Commission (SEC) rule aimed at reining-in special purpose acquisition companies or SPACs, arguing…
EU financial services chief calls for compromise on bank capital
By Huw Jones LONDON – European Union financial services chief Mairead McGuinness on Tuesday urged the bloc’s lawmakers to agree on bank capital rules to keep the sector resilient as it emerges…
Singapore’s Frasers Property seeks to take hospitality trust private
SINGAPORE -Singapore-listed Frasers Property Ltd, part of Thai tycoon Charoen Sirivadhanabhakdi’s TCC Group, proposes to take unit Frasers Hospitality Trust private in a deal that values it at S$1.35 billion ($970 million).…
U.S. gasoline average price tops $5 per gallon in historic first
By Laura Sanicola (Reuters) -The price of U.S. gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs…
Facing record inflation, Biden chides Exxon, oil companies for profits
By Trevor Hunnicutt and Jarrett Renshaw LOS ANGELES -U.S. President Joe Biden on Friday accused the U.S. oil industry, and Exxon Mobil Corp in particular, of capitalizing on a supply shortage to…
Stitch Fix to cut workforce by 15% of salaried roles
(Reuters) -Stitch Fix Inc said on Thursday it is reducing its workforce by around 15% of salaried positions, as the online personalized styling service firm aims to return to profitability. Decades-high inflation…
Exclusive-Macellum, Ancora lose bid for board seats at SpartanNash -sources
By Svea Herbst-Bayliss (Reuters) -Hedge funds Macellum Advisors and Ancora Advisors have lost their bid for board seats at supermarket operator SpartanNash Co, according to two sources familiar with the matter. The…
OECD slashes growth outlook, but sees limited stagflation risk
By Leigh Thomas PARIS – The war in Ukraine has made the growth outlook far bleaker even though the global economy should avoid a bout of 1970s-style stagflation, the OECD said on…
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