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…
U.S. default would cause job, benefits losses, Yellen tells counties
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen warned county leaders on Tuesday that their residents could lose jobs and federal benefit payments if Congress allows the United States…
Russian state bank VTB blames 2022 losses on sanctions -CEO
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Russia’s VTB bank’s losses last year were due entirely to sanctions, CEO Andrei Kostin said on Tuesday, a rare acknowledgement that the West’s…
Post-QE bond losses rising reality for central banks – BIS
By Marc Jones LONDON (Reuters) – Central banks face mounting losses on the trillions of dollars of bonds they bought in the past 15 years of rolling crises, a paper from the…
Trump’s Scottish golf courses recorded more losses in 2021
LONDON (Reuters) – Former U.S. President Donald Trump’s two Scottish golf courses lost 4.4 million pounds ($5.44 million) in 2021, according to accounts released on Thursday, continuing a consistent run of red…
Large Brazilian banks may set aside around $890 million for Americanas losses in Q4
By Aluisio Alves SAO PAULO (Reuters) – Brazilian banks may start setting aside provisions for losses with retailer Americanas already in the fourth quarter of 2022, analysts say. Banks such as BTG…
Morgan Stanley comfortable on headcount, takes mark-to-market losses on Twitter
By Saeed Azhar NEW YORK (Reuters) – Morgan Stanley is comfortable with its headcount after recent action to reduce jobs in December, Chief Financial Officer Sharon Yeshaya told Reuters on Tuesday. “We’re…
FedEx cost cuts stanch losses, analysts see need for more
LOS ANGELES (Reuters) – FedEx’s plan to slash almost $4 billion in expenses has begun sheltering profits, but analysts say the uncertain economy points to the need for more surgical cuts at…
Wall St extends losses as recession fears weigh
(Reuters) – Wall Street’s main stock indexes extended losses on Friday as fears of a looming recession, sparked by the Federal Reserve’s relentless battle against inflation, hammered sentiment. The Dow Jones Industrial…
U.S. fuelmakers more than recoup pandemic losses in 2022
By Laura Sanicola (Reuters) – U.S. oil refiner PBF Energy is closing out one of the best financial years in its history, a wild bounce back from the brink in April 2020…
Loma Linda Woman Pleads Guilty to Federal Charge for Investment Fraud that Caused More Than $2.6 Million in Losses
LOS ANGELES – A San Bernardino County woman has pleaded guilty to a federal criminal charge for her involvement in an investment fraud scheme that caused more than $2.6 million in…
Musk’s banks to book Twitter loan losses, avoid big hits -sources
By Lananh Nguyen, Saeed Azhar and Shankar Ramakrishnan NEW YORK (Reuters) -Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans…
Nomura CEO says U.S. becomes profit driver despite one-off losses
TOKYO (Reuters) – Nomura Holdings Inc’s U.S. wholesale business has emerged as a profit driver despite some large one-off losses in the region that had dragged down the bank’s earnings in the…
Dollar extends losses after Fed minutes
NEW YORK (Reuters) – The U.S. dollar extended its losses against the euro and the yen on Wednesday, after minutes released from the Federal Reserve’s November meeting showed a “substantial majority” of…
Irish consumer sentiment dips slightly on tech job losses
DUBLIN (Reuters) – Irish consumer sentiment dipped slightly in November as people grew concerned about job losses in the country’s tech sector, a survey showed on Monday. The Credit Union Consumer Sentiment…
Wasco Couple Arrested for 6-Year Credit Card Fraud Scheme that Caused $825,000 in Losses
FRESNO, Calif. — Miguel Leyva, 35, and Karina Gutierrez, 32, both of Wasco, were arrested today after a federal grand jury indicted them for conspiracy, bank fraud, access device fraud, and aggravated…
UK taxpayers on hook for 133 billion-pound bill to cover BoE losses
LONDON (Reuters) – Britain’s government could end up paying 133 billion pounds ($157 billion) to the Bank of England over six years to finance its quantitative easing (QE) programme, official budget forecasters…
Don’t Blame Trump For Midterm Losses, JD Vance Says
Don’t Blame Trump For Midterm Losses, JD Vance Says Harold Hutchison on November 14, 2022 Republican Sen.-elect J.D. Vance of Ohio claimed structural problems, not former President Donald Trump, were to blame…
Michigan Man Sentenced to 3½ Years in Prison for Role in ‘SIM Swapping’ that Led to Account Takeovers and $122,000 in Losses
LOS ANGELES – A Clarkston, Michigan man was sentenced today to 42 months in federal prison for his role in a series of “SIM swapping” schemes that allowed him and his…
EDF, set for full-state control, warns again of big losses
PARIS (Reuters) -French nuclear power group EDF is expecting a hit of around 32 billion euro ($32.18 billion) to its full-year core earnings from lower nuclear production, a bigger loss than previously…
Boeing losses mount on troubled Air Force One program
By David Shepardson WASHINGTON (Reuters) – Boeing said Wednesday the company would take a new $766 million charge on its 2018 billion contract to build two new U.S. presidential airplanes that faced…
Analysis-Decade of central bank largesse haunts taxpayers as losses loom
By Francesco Canepa FRANKFURT (Reuters) – For more than a decade since the global financial crisis, central bankers pumped trillions of dollars of cheap money into the financial system to keep the…
Asia hedge fund losses grow in Q3, poised for worst year since 2008
By Summer Zhen HONG KONG (Reuters) – Hedge funds focused on emerging Asia posted their biggest monthly losses in years in September and are set for the worst year since the 2008…
Arcadia Man Charged with Securities Fraud for Stealing Client Funds and Concealing His Investment Firm’s Massive Financial Losses
LOS ANGELES – A former San Gabriel Valley resident who ran Los Angeles County-based investment companies and was a frequent guest on financial television news programs was charged today in a…
Australia’s central bank has equity wiped out by billions in bond losses
By Wayne Cole SYDNEY (Reuters) -Australia’s central bank on Wednesday said its equity had been wiped out by losses suffered on pandemic-era bond buying, but its ability to create money meant it…
European shares fall for third day on oil, tech losses
By Shreyashi Sanyal and Susan Mathew (Reuters) -European equities gave up earlier gains to end lower on Thursday, with energy and technology shares declining the most, as worries about tighter monetary policy…
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