Author: 5amResearch

HONG KONG – UBS will impose strict restrictions on bankers from Credit Suisse, including a ban on new clients from high-risk countries, according to a Financial Times report, with the two banks moving to close the historic takeover as soon as Monday. A list consisting of almost two dozen “red lines” will prohibit Credit Suisse staff from a range of activities, a limitation meant to curb risk for UBS, the newspaper reported Sunday. Earlier, UBS chief executive officer (CEO) Sergio…

FRANKFURT – The European Central Bank (ECB) will almost certainly deliver another interest rate hike on Thursday as the eurozone slides into a recession. Analysts predict that ECB policymakers will copy May’s move and again raise borrowing costs by 25 basis points, taking the closely watched deposit rate to 3.5 per cent. It would be the Frankfurt institution’s eighth consecutive hike since July 2022, when it kicked off an unprecedented campaign of monetary tightening after Russia’s war in Ukraine sent food…

George Soros, a financier with a penchant for politics, has moved to hand over control over his $25 billion empire to his 37-year-old son Alexander.As some media outlets have pointed out, Soros Sr. previously appeared reluctant to let any of his five children take control of the Open Society Foundations (OSF) but has apparently changed his mind.Alexander Soros replaced his father as the Open Society Foundations’ board chairman in December 2022 and is currently the only Soros family member on…

Struggling to overcome recruiting shortfalls, the Army and the Air Force have bolstered their marketing to entice legal residents to enlist, putting out pamphlets, working social media and broadening their outreach, particularly in inner cities. One key element is the use of recruiters with similar backgrounds to these potential recruits. Airman 1st Class Joshua Fancisco, from the Philippines, left, Airman 1st Class D’elbrah Assamoi, from Cote D’Ivoire, center, and Airman 1st Class Jordan Flash, from Jamaica, looks at their U.S….

WASHINGTON – The US expanded a ban on imports from China’s Xinjiang region, placing two more companies on its so-called entity list, the first additions since a law targeting forced labour in the area took effect a year ago. Printing and imaging company Ninestar Corp and eight of its subsidiaries, as well as Xinjiang Zhongtai Chemical, were added to the list “for working with the government of Xinjiang to recruit, transport, transfer, harbour or receive forced labour” involving Uighur and…

China has been operating a spy base in Cuba since at least 2019, part of a global effort by Beijing to upgrade its intelligence-gathering capabilities, according to a Biden administration official. The official, who was not authorized to comment publicly and spoke on the condition of anonymity, said the U.S. intelligence community has been aware of China’s spying from Cuba and a larger effort to set up intelligence-gathering operations around the globe for some time. The Biden administration has stepped…

Reality Winner, the first person to be prosecuted in violation of the Espionage Act under the Trump administration, said she was “blown away” by the voluminous detail found in the 49-page indictment against the former president in the sprawling Mar-a-Lago documents scandal. The former intelligence contractor and Air Force linguist made the comments in a new interview with NBC broadcast Friday. In 2018, under the Trump administration, Winner pleaded guilty and was sentenced to five years and three months in prison after leaking a top-secret report on…

Western media is reporting that the CIA told its Belgian counterparts that Ukrainian forces were responsible for the destruction of the Nord Stream gas pipelines last September.“Shortly after the attack, our military intelligence agency ADIV received strictly confidential information that pointed to Ukraine’s likely role in sabotage,” a mainstream Belgian newspaper wrote Saturday. The publication said it “learned from well-informed sources that our military intelligence service then ‘got a visit’ from the American intelligence service CIA. ”The story “illustrates how…

Tens of thousands of people marched on June 9 in another anti-government protest in Belgrade criticizing the government’s response to two mass shootings last month in which 18 people died. The protesters called for the resignation of President Aleksandar Vucic and stuck messages to the door of the government building, including one that said, “Enough is enough.” Cardboard figures depicting Vucic and Prime Minister Ana Brnabic in black-and-white striped prison suits were also left in front of the government building….

Ukrainian forces have been met with strong resistance from Russian soldiers after attempting to penetrate enemy lines in the east of the country in the past couple days. US officials have described the losses, which included US-supplied MRAP armored vehicles, as “significant,” per CNN. Though Ukraine was able to push through Russian forces around Bakhmut, they were met with anti-tank missiles, grenades, and mortars from the Russian side. The report noted that Russian forces have trenched themselves several layers deep,…

The top US securities regulator sued cryptocurrency platform Coinbase on Tuesday, the second lawsuit in two days against a major crypto exchange, in a dramatic escalation of a crackdown on the industry and one that could dramatically transform a market that has largely operated outside regulation. The US Securities and Exchange Commission (SEC) on Monday took aim at Binance, the world’s largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a “web of deception”. If…

Hundreds of uncontrolled forest fires blazed across Canada on Wednesday, threatening critical infrastructure, forcing evacuations and sending a blanket of smoky air wafting over U.S. cities. Wildfires are common in Canada’s western provinces, but this year flames have mushroomed rapidly in the country’s east, making it the worst-ever start to the season. About 3.8 million hectares have burned, 15 times the 10-year average, Federal Minister of Emergency Preparedness Bill Blair said. “Across the country as of today, there are 414…

Fox News on Wednesday notified Mr Tucker Carlson’s legal team that the former prime-time host violated his contract with the network when he launched his own Twitter show on Tuesday, Axios reported, citing a copy of a letter obtained by the news website. Mr Carlson released the first episode of his new show on Twitter on Tuesday, weeks after being taken off the air by Fox following a damaging defamation lawsuit over false claims of election fraud. Fox News general…

JEDDAH, Saudi Arabia – US Secretary of State Antony Blinken had an “open, candid” conversation with Saudi Crown Prince Mohammed bin Salman in the early hours of Wednesday about a wide range of bilateral issues, a US official said. The top US diplomat arrived in Saudi Arabia late on Tuesday for a much anticipated visit amid frayed ties due to deepening disagreements on everything from Iran policy to regional security issues, oil prices and human rights. Washington has struggled to…

Meta has been dragged kicking and screaming into another notable privacy concession in Europe: The German Federal Cartel Office (FCO) has announced a new account center incoming which will see the tech giant provide users of its social networking services with a greater degree of choice over whether they allow it to combine data on their activity across its services or not. It will be the first time Meta has provided such a degree of choice over its cross-site tracking…

A Florida man has pleaded guilty to importing and selling counterfeit Cisco networking equipment to various organizations, including education, government agencies, healthcare, and the military. The 39-year-old resident of Florida, Onur Aksoy, conducted the scheme through 19 companies formed in New Jersey and Florida and in several online storefronts, collectively known as ‘Pro Network Entities,’  Aksoy had a criminal complaint filed against him approximately a year ago, with the Department of Justice accusing him of running the counterfeit scheme between 2014…