San Gabriel Valley Woman Pleads Guilty to Counterfeit Postage Fraud that Caused More Than $150 Million in Losses to U.S. Postal Service
Lijuan “Angela” Chen, 51, of Walnut, pleaded guilty to one count of conspiracy to defraud the United States and one count of use of counterfeit postage. Chen has been in federal custody…
Analysis-Big losses in Russia-linked stocks have investors rethinking other depositary receipts
By Sinead Cruise and Carolina Mandl LONDON/NEW YORK (Reuters) – Global investors are losing confidence in securities linked to shares of companies in the world’s geopolitical hot spots, investors and analysts said,…
Rakuten shares jump as mobile losses narrow
By Anton Bridge TOKYO (Reuters) – Rakuten Group shares surged on Monday morning after the e-commerce giant reported narrowing losses at its cash bleeding mobile unit last week alongside assurances that it…
Insurer CNA Financial misses profit estimates on higher catastrophe losses in P&C segment
(Reuters) – Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty (P&C) segment partially offset higher investment income. Profits at insurers came under…
Turkey quake contributed to $43 billion in H1 insurance losses – Munich Re
BERLIN (Reuters) – A deadly earthquake in Turkey and Syria as well as tornadoes and hailstorms in the United States contributed to losses covered by insurance of $43 billion in the first…
Analysis-China policy reform to end losses for city-gas firms on household sales
By Chen Aizhu, Emily Chow and Andrew Hayley SINGAPORE/BEIJING (Reuters) – Policy reform in China will boost profit for city-gas distributors by letting them raise prices for residential sales above costs, after…
Evergrande’s long-delayed 2021, 2022 results show significant losses
HONG KONG (Reuters) – Embattled property developer China Evergrande Group on Monday published its long delayed results for fiscal 2021 and 2022, posting significant losses and big drops in revenue. The world’s…
Biden FTC Chair Suffers Major Losses After Picking Fight With Big Tech
Biden FTC Chair Suffers Major Losses After Picking Fight With Big Tech John Hugh DeMastri on July 12, 2023 Federal Trade Commission (FTC) Chair Lina Khan has suffered several setbacks this year…
Bergen rips Spadea on campaign losses
New Jersey 101.5 conservative radio talk show host Bill Spadea had a series of unfortunate events happen on Election. For Spadea, the GOP primary election day was terrible, horrible, no good, very…
Global central banks post losses on reserves in 2022; no quick recovery seen -survey
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Global central banks experienced losses managing their reserves last year amid bond-heavy allocations that took a major hit in 2022 following aggressive monetary policy tightening…
Malaysia central bank to intervene in FX markets as ringgit losses ‘excessive’
KUALA LUMPUR (Reuters) – Malaysia’s central bank said on Tuesday it will intervene in the foreign exchange market to stabilise the ringgit currency, citing what it called “excessive” recent losses. The ringgit…
Australia’s Regional Express warns of losses in fiscal 2023
(Reuters) – Australian airline Regional Express on Tuesday forecast an operational loss for fiscal 2023, citing a global shortage of pilots and engineers, as well as significantly lower business travel in May…
Semi shorts down $18 billion in mark-to-market losses in 2023, S3 Partners says
NEW YORK (Reuters) – Short sellers in U.S. shares related to the semiconductor industry are down $18.31 billion in mark-to-market losses for the year to date, including $7.2 billion in losses since…
Brazil’s Lula cuts losses after setbacks on environment and Indigenous front
By Maria Carolina Marcello BRASILIA (Reuters) – Brazilian President Luiz Inacio Lula da Silva has suffered a major defeat over important legislation protecting the Amazon rainforest and the Indigenous people who live…
Chinese War Game Simulating Massive Losses For U.S. Aren’t Just Propaganda, Experts Say
Chinese War Game Simulating Massive Losses For U.S. Aren’t Just Propaganda, Experts Say Micaela Burrow on May 24, 2023 A war game conducted by Chinese scientists found that Beijing’s military could demolish…
Exclusive-Qatar fund explored claims against Switzerland for Credit Suisse losses
By Stefania Spezzati, Paritosh Bansal and America Hernandez (Reuters) – Qatar’s sovereign wealth fund, Credit Suisse’s second-largest investor, has explored seeking redress for losses incurred by the bank’s takeover, two people familiar…
Lucid losses put Saudi Arabia’s EV strategy in the headlamps
By Yousef Saba and Rachna Uppal DUBAI (Reuters) – Lucid’s electric vehicles are often displayed prominently at public events and financial conferences in Saudi Arabia to symbolise its crown prince’s multi-billion dollar…
Biden Admin, Media Blamed Anti-CRT Efforts And ‘Book Banning’ For Learning Losses. Experts Say That’s ‘Nonsense’
Biden Admin, Media Blamed Anti-CRT Efforts And ‘Book Banning’ For Learning Losses. Experts Say That’s ‘Nonsense’ Reagan Reese on May 5, 2023 As just 13% of eighth graders met grade level expectations…
FDIC To Slap Banks With New Fees To Cover Bailout Losses: REPORT
FDIC To Slap Banks With New Fees To Cover Bailout Losses: REPORT Jason Cohen on May 5, 2023 The Federal Deposit Insurance Corporation (FDIC) plans to release a proposal to replenish funds…
Short sellers reap $378.9 million from losses in PacWest, two other bank stocks – Ortex
(Reuters) – Short sellers made $378.9 million in paper profits betting against regional banks First Horizon Corp, PacWest Bancorp and Western Alliance Bancorp in Thursday’s session, analytics firm Ortex said. Since the…
Despite SVB collapse, FDIC on track to recoup insurance losses: Chair
(Reuters) – Despite the second- and third-largest bank failures in U.S. history last month, the U.S. Federal Deposit Insurance Corporation remains on track to refill its deposit insurance fund ahead of a…
Japan regional banks can weather foreign bond losses – regulatory official
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – Japanese regional lenders will be well able to weather even “large” losses on their foreign bond portfolios thanks to strong capital buffers, a…
China’s top airlines post record annual losses, outlook brighter
BEIJING (Reuters) – China’s flagship carrier Air China Ltd posted record annual losses of 38.6 billion yuan ($5.61 billion)on Thursday as the country’s now-abandoned zero-COVID policy led to a plunge in demand.…
Banking rout fuels U.S. oil hedging, as investors seek to limit losses
By Stephanie Kelly and Arathy Somasekhar NEW YORK (Reuters) – Oil producers, banks and hedge funds have increased purchases of put options to protect themselves from further losses, market sources said this…
S&P Global says banks’ unrealized losses manageable at this stage
LONDON (Reuters) – Rating agency S&P Global said on Thursday that the banks around the world that it provides credit scores for should be able handle “unrealized losses” from global interest rate…
Galois Capital flagship fund to close after FTX losses
By Nell Mackenzie and Elizabeth Howcroft LONDON (Reuters) -Galois Capital hedge fund founder Kevin Zhou said on Monday his flagship fund would close after “losing almost half” of the fund’s money when…
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