Category: Business & Economy

Raytheon Company (Raytheon) — a subsidiary of Arlington, Virginia-based defense contractor RTX (formerly known as Raytheon Technologies Corporation) — will pay over $950 million to resolve the Justice Department’s investigations into: (i) a major government fraud scheme involving defective pricing on certain government contracts and (ii) violations of the Foreign Corrupt Practices Act (FCPA) and the Arms Export Control Act (AECA) and its…

OTTAWA – Canada’s Prime Minister Justin Trudeau said on Oct 16 there were “clear indications” that India had violated Canadian sovereignty, as the countries row over the killing of a Sikh separatist on Canadian soil last year that Ottawa blamed on New Delhi. Trudeau’s latest charge came two days after India and Canada expelled each other’s ambassadors as Ottawa alleged…

ROME – Italy’s parliament made it illegal on Wednesday for couples to go abroad to have a baby via surrogacy — a pet project of Prime Minister’s Giorgia Meloni party which activists say is meant to target same-sex partners. Since taking office in 2022 Meloni has pursued a highly conservative social agenda, looking to promote what she sees as traditional…

According to a report from the Financial Crimes Enforcement Network (FinCEN) on Oct. 10th, TD Bank’s U.S. wing agreed to pay over $3 billion in penalties. The fine was for failing to properly monitor money laundering activities. The bank has also accepted limits on its future growth in the U.S. FinCEN found that TD Bank facilitated over $1 billion in…

TORONTO — The more than US$3-billion settlement TD Bank Group has reached with U.S. regulators for its failures to oversee money laundering risks has underlined what some say are relatively weak enforcement options in Canada. Denis Meunier, president of DMeunier Consulting Inc. and a former deputy director of Fintrac, said fines in Canada have to increase significantly to provide adequate…

ROME – Italy’s supreme court on Oct 14 overturned the acquittal of 23 people over allegations they took bribes from late prime minister Silvio Berlusconi to lie in an underage prostitution case that had dogged him for years. The ruling means that even though Mr Berlusconi himself died last year, one of the most famous investigations tied to his extravagant…

Canada-based financial institution TD Bank has announced its agreement to pay over USD 3 billion, pleading guilty to criminal charges related to money laundering in the US. As detailed by regulators, the fine follows TD Bank’s failure to appropriately monitor money laundering by drug cartels and other criminals, allowing them to transfer hundreds of millions of dollars in unlawful funds….

Toyota is investing another $500 million in Joby Aviation as part of a partnership aimed at helping get the American air taxi company’s commercial business off the ground. Toyota’s investment will be used to support certification and production of Joby’s electric air taxi, the companies said Wednesday, and brings Toyota Motor Corporation’s total investment in Joby to $894 million. After…

NEW YORK (Reuters) – Former cryptocurrency executive Caroline Ellison is set to be sentenced on Tuesday for her role in her imprisoned former boyfriend Sam Bankman-Fried’s theft of about $8 billion in customer funds from the now-bankrupt FTX exchange he founded. Ellison has pleaded guilty to seven felony counts of fraud and conspiracy, and testified as a prosecution witness in…

KUALA LUMPUR, Malaysia (AP) — Malaysian police said Monday they have rescued 187 more children and raided locations nationwide linked to an Islamic business group that is being investigated for alleged sexual assault of children. National police chief Razarudin Husain said the children and young people, including 59 under age 5, were rescued from welfare homes linked to Global Ikhwan…

US settles with billionaire Carl Icahn for using company to secure personal loans worth billions Billionaire Carl Icahn and his company were charged by U.S. regulators with failing to disclose personal loans worth billions of dollars that were secured using securities of Icahn Enterprises as collateral. Icahn Enterprises and Icahn have agreed to pay $1.5 million and $500,000 in civil…

MOSCOW, September 18. /TASS/. EU pipeline gas imports last month decreased by 2% in August and overall, since the beginning of this year, gas supplies from Russia to Europe have increased by 3 billion cubic meters, according to a report by the Gas Exporting Countries Forum (GECF). In general, total gas consumption in the EU in January-August of this year…

Eric Adams, New York City’s mayor, has never shied away from his ties to people with checkered pasts. He has defended mentoring a Rolls-Royce-driving bishop with a rap sheet, appointing a friend implicated in a past corruption probe as a top aide in his administration, and dining and partying with felons. […] Now, America’s biggest metropolis faces a political meltdown….

NEW YORK (AP) — The top legal adviser to New York City Mayor Eric Adams resigned abruptly over the weekend, the latest sign of instability in the Democrat’s administration as it deals with multiple federal investigations. City Hall announced Lisa Zornberg’s departure late Saturday night. She had advised Adams and other city officials on legal strategy for over a year…

The founder and chief executive officer of the messaging service Telegram was detained at a Paris airport on an arrest warrant alleging his platform has been used for money laundering, drug trafficking and other offences, French media reported Sunday. Pavel Durov, a dual citizen of France and Russia, was arrested at Paris-Le Bourget Airport on Saturday evening after landing in…

NEW YORK, August 26. /TASS/. French authorities have ‘crossed a red line’ after they decided to detain Telegram messenger founder Pavel Durov, Chris Pavlovski, the CEO of Rumble online video platform, said on Monday. “France has threatened Rumble, and now they have crossed a red line by arresting Telegram’s CEO, Pavel Durov, reportedly for not censoring speech,” Pavlovski wrote on…