Category: Business & Economy

The world’s largest cryptocurrency exchange has been kicked off a major Australian payments service and banned by big four bank Westpac, with customers suddenly unable to deposit or withdraw funds from the platform. Binance Australia – the local arm of the $6.7 billion crypto exchange Binance – told customers on Thursday afternoon they would no longer be able to deposit…

As Cyprus braces for an almost inevitable new wave of sanctions to hit soon, the government conceded on Wednesday the effect on Cyprus’ services sector has been detrimental. The impact goes beyond just the service sectors. Scores of people have lost their jobs, and companies shut down, but more controversially – clients of sanctioned entities have also seen their bank…

BENGALURU – Deutsche Bank has agreed to pay US$75 million (S$100.6 million) to settle a proposed class-action lawsuit alleging the lender facilitated the late Jeffrey Epstein’s sex-trafficking ring, The Wall Street Journal reported late on Wednesday, citing lawyers who sued the bank on behalf of alleged victims.

The suit was filed in 2022 in New York by an anonymous woman on behalf of herself and other accusers, alleging Deutsche Bank did business with Epstein for five years knowing he was engaged in sex-trafficking activity, the report said.

Deutsche Bank did not immediately reply to a Reuters’ request for comment. REUTERS

PARIS – A French appeals court on Wed nesday upheld a prison sentence of three years, including two suspended, against former president Nicolas Sarkozy for corruption and influence peddling. The court ruled he should serve one year in detention at home with an electronic bracelet and banned him from public office for three years. He had been found guilty over his…

Russia has frozen the bank accounts of Finland’s diplomatic representations in Moscow and St. Petersburg, disrupting money flow and forcing the Nordic country’s missions to resort to cash payments, the Finnish foreign minister said Wednesday. Pekka Haavisto said Moscow’s move at the end of April breached the Vienna Convention on Diplomatic Relations and Helsinki had delivered a diplomatic note on…

SAN FRANCISCO – Fallen US biotech star Elizabeth Holmes must begin serving prison time after a judge denied her latest request to remain free while appealing her fraud conviction. Holmes was sentenced to just over 11 years in prison for defrauding investors with her Silicon Valley start-up Theranos. She was scheduled to begin serving prison time on April 27, but…

  EU member countries are preparing to help their companies to exit Russia, amid a growing risk they will be taxed to fund Russian president Vladimir Putin’s war. Source: This is stated in the proposals for the 11th package of sanctions against the Russian Federation, referenced by EUobserver, as reported by European Pravda Details: The proposals include new special permits…

Iran Press TV Tuesday, 16 May 2023 11:13 AM Russia’s oil exports have hit its highest level since the start of the Ukraine war, increasing its revenues by $1.7 billion despite Western sanctions, the International Energy Agency says. In a monthly oil report on Tuesday, the Paris-based organization said Russian crude exports increased by 50,000 barrels per day to 8.3…

The world’s largest crypto exchange, Binance, said last week that it would stop servicing Canadian customers due to “new guidance related to stablecoins and investor limits provided to crypto exchanges.” But while the exchange said it will return to the country “someday,” its exit leaves behind a huge gap that its competitors are aiming to fill. Coinbase is one of…

A humanitarian aid worker who used an anonymous Twitter account to mock Saudi Arabia about its economy has filed a federal racketeering lawsuit against the social media platform, the kingdom and a number of individuals alleging an attempt to silence critics overseas. Abdulrahman al-Sadhan, was working for the Red Crescent in Riyadh in 2018 when plain-clothed security forces entered the…

SAN FRANCISCO – Wells Fargo & Co agreed to pay US$1 billion (S$1.3 billion) to settle a shareholder lawsuit that accused it of making misleading statements about its compliance with United States consent orders, following the 2016 scandal involving the opening of unauthorised customer accounts. The settlement is one of the top six largest securities class-action settlements of the past…

The platform’s Global Government Affairs account issued a statement on Monday outlining its recent decisions in light of the Turkish court orders, saying it was forced to take action against four accounts and 409 individual tweets.  “We received what we believed to be a final threat to throttle the service – after several such warnings,” it said, adding that it deleted the accounts and posts “in order to keep Twitter available over the election weekend.”

  WASHINGTON – After three years of largely self-imposed isolation because of Covid‑19, China is finally reopening. But US airlines are not lining up to reinstate the once-abundant services between the world’s two largest economies. In pre-pandemic 2019, direct flights between the United States and China by carriers from both countries averaged 340 per week. Today there are a maximum…

PARIS – The traces of genetic material that humans constantly shed wherever they go could soon be used to track individual people, or even whole ethnic groups, scientists said on Monday, warning of a looming “ethical quagmire”.

A recently developed technique can glean a huge amount of information from tiny samples of genetic material called environmental DNA, or eDNA, that humans and animals leave behind everywhere – including in the air.

The tool could lead to a range of medical and scientific advances, and could even help track down criminals, according to the authors of a new study published in the journal Nature Ecology & Evolution.

But it also poses a vast range of concerns around consent, privacy and surveillance, they added.

WASHINGTON – The FBI lacked “actual evidence” to investigate Donald Trump’s 2016 presidential campaign and relied too heavily on tips provided by Trump’s political opponents to fuel the probe, US Special Counsel John Durham concluded in a report released on Monday.

The report marks the end of a four-year probe launched in May 2019 when then-Attorney General William Barr appointed Durham, a veteran prosecutor, to probe potential missteps by the FBI when it launched its early stage “Crossfire Hurricane” inquiry into potential contacts between Donald Trump’s 2016 presidential campaign and Russia.

That Crossfire Hurricane investigation would later be handed over to Special Counsel Robert Mueller, who in March 2019 concluded there was no evidence of a criminal conspiracy between Trump’s 2016 campaign and Russia.

In his new 306-page report, Durham concluded that US intelligence and law enforcement did not possess any “actual evidence” of collusion between Trump’s campaign and Russia prior to launching Crossfire Hurricane.

He also accused the bureau of treating the 2016 Trump probe differently from other politically sensitive investigations, including several involving Trump’s Democratic rival Hillary Clinton.

BERLIN – The German security authorities believe that China is still conducting police activities on German soil even though Beijing assured Berlin in February that it had ceased to do so, the German foreign and interior ministries said on Monday.

“The security authorities continue to assume that there are two so-called overseas police stations in Germany,” a spokesman for the Interior Ministry said at a regular press conference.

Berlin called on Beijing in November to shut down extraterritorial police stations in the country.