Category: Business & Economy

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…

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…

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…

The BRICS bloc’s push to create a new trade and reserve currency that can serve as an alternative to the dollar could start chipping away at the greenback’s hegemony in less than three months’ time, former CIA and Department of Defense advisor and investment banker James Rickards has predicted. “It involves the rollout of a major new currency that could…

Treasury officials have been accused of being asleep at the wheel on breaches of confidential government information. Officials were grilled on their knowledge of potential breaches of confidential Treasury data by former PwC partner Peter Collins, who has been referred to federal police to investigate the allegations. Greens senator Barbara Pocock hit out at Treasury’s decision to sign new confidentiality…

WASHINGTON – US regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a “web of deception,” piling further pressure on the world’s biggest cryptocurrency exchange and sending bitcoin to its lowest in almost three months. The Securities and Exchange Commission (SEC) complaint, filed in a federal court in Washington, DC, listed 13 charges against Binance, Zhao…

“On Saturday, June 3, 2023, the President signed into law … H.R. 3746, the ‘Fiscal Responsibility Act of 2023,’ which suspends the public debt limit through January 1, 2025, and increases the limit on January 2, 2025, to accommodate the obligations issued during the suspension period,” it said. The bill also rescinds certain unobligated balances, expands work requirements for a…

SINGAPORE — Canada is pledging to step up its military posture in the Indo-Pacific, with its defense minister announcing the nation will annually commit to the region an additional warship. This will boost the size of the Royal Canadian Navy’s annual deployment to the Indo-Pacific from two to three ships, according to defense minister Anita Anand, who added that the…

NEW YORK, May 30 (Reuters) – Bankrupt OxyContin maker Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company’s broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday. The New York-based 2nd U.S. Circuit Court of Appeals said that U.S. bankruptcy law allows legal…

WASHINGTON — More than 1 million F-35 spare parts worth at least $85 million have gone missing over at least the last five years, according to a new Government Accountability Office report criticizing the program’s supply tracking. Auditors said that because the government doesn’t have its own system tracking those parts, officials may not truly know how many spare parts…

Michael Sasso, a Florida attorney, was selected by DeSantis to join the Central Florida Tourism Oversight District, which gained control of Walt Disney World’s special tax district through recent legislation. The reason for Sasso’s resignation remains unclear.However, Governor DeSantis appointed Sasso’s wife, Judge Meredith Sasso, to the state’s Supreme Court just last week. The latter’s husband is the managing partner of Sasso and Sasso, P.A., a law practice specializing in election law, complex business, and construction litigation.In response, Disney filed a lawsuit against DeSantis and other state officials, accusing them of harming its business by revoking Disney World’s self-governing status and engaging in a targeted campaign of government retaliation. The lawsuit claims that DeSantis orchestrated these actions to punish Disney’s protected speech, threatening its business operations, economic future, and constitutional rights.Governor DeSantis, who recently announced his official 2024 White House bid, has continued to clash with Disney. He recently filed a motion to disqualify the judge overseeing the First Amendment case, citing the judge’s previous comments regarding the Disney feud.

India’s Central Bureau of Investigation (CBI) filed a complaint on Monday against British multinational aerospace and defense company Rolls Royce, the company’s former India director – Tim Jones, arms dealer Sudhir Choudhrie and his son Bhanu Choudhrie (who are UK citizens), and British Aerospace Systems (BAE Systems). The allegations include criminal conspiracy, cheating and corruption in a 2004 procurement of…

CorruptionLedger commentary in red.   Twitter has pulled out of the European Union’s voluntary code to fight disinformation, the EU has said. Thierry Breton, who is the EU’s internal market commissioner, announced the news on Twitter – but warned the firm new laws would force compliance. “Obligations remain. You can run but you can’t hide,” he said. Twitter will be…

The court ruled that the initial money laundering suspicions were insufficient to warrant the searches at Usmanov’s premises in the first place. The judges also pointed to some “serious deficiencies” in the search warrants requested by Frankfurt’s Public Prosecutor’s Office at the time. Suspicions against Usmanov were based on allegations that were too vague, the court declared. The assumption that…

Jeffrey Epstein was many things: a sexual predator, a friend to the rich and powerful and, for many years, a lucrative customer of the nation’s largest bank. Now the bank, JPMorgan Chase, faces a reckoning for its nearly 15-year relationship with the disgraced financier, one that could cost it a big payout in two civil lawsuits that claim the bank…

Justice Akintayo Aluko of the Federal High Court, in Lagos has ordered 27 commercial banks in the country, to placed Post-No-Debit (PND) on the accounts of a tourism company, ‘La Campagne Tropicana Beach Resort’ over alleged N46, 798, 095.94 . The judge, made the order of Mareva injunction on May 17, 2023, while granting an Exparte motion marked FHC/L/CS/746/2023, filed…