Corruption Ledger

Vanguard has bowed to regulatory pressure and agreed to new oversight of its investments in some US lenders, a decision that could have sweeping implications for money managers and banks. The deal, which the US Federal Deposit Insurance Corp disclosed on Friday, will allow Vanguard’s funds to continue to be huge shareholders in a wide swath of the country’s banks while also increasing the watchdog’s supervisory power over the $10tn money manager. Vanguard, BlackRock and State Street have amassed large…

As Israel marks Hanukkah, ceasefire talks with militants in Gaza remain stalled as Israel continues to pound targets in the territory. Among the latest reported victims of the war, a displaced child who froze to death overnight while sheltering in a tent.

Meta is betting that characters generated by artificial intelligence will fill its social media platforms in the next few years as it looks to the fast-developing technology to drive engagement with its 3bn users. The Silicon Valley group is rolling out a range of AI products, including one that helps users create AI characters on Instagram and Facebook, as it tries to attract and retain a younger audience. “We expect these AIs to actually, over time, exist on our platforms,…

The Chinese government protested Sunday the latest American announcements of military sales and assistance to Taiwan, warning the United States that it is “playing with fire.” U.S. President Joe Biden on Saturday authorized the provision of up to $571 million in Defense Department material and services and in military education and training for Taiwan. Separately, the Defense Department said Friday that $295 million in military sales had been approved. A Chinese Foreign Ministry statement urged the U.S. to stop arming Taiwan…

WASHINGTON – The United States issued fresh sanctions on Wednesday on several Russia-based entities over their involvement in the Nord Stream 2 gas pipeline, the State Department said, including new measures against the operator of the project. The U.S. State Department said in a statement that it was re-imposing sanctions on a number of entities involved in the construction of the pipeline that were already designated, as well as several new owners of vessels already under sanctions. Among those targeted…

OTTAWA – Canada’s Finance Minister Chrystia Freeland unexpectedly resigned on Monday, saying she was no longer on the same page with Prime Minister Justin Trudeau about the best path forward for Canada. Following is the full text of her resignation letter. December 16, 2024 The Right Honourable Justin Trudeau, P.C., M.P. 80 Wellington Street Ottawa, ON KIA 0A2 Dear Prime Minister, It has been the honour of my life to serve in government, working for Canada and Canadians. We have…

Following a comprehensive investigation, the Justice Department announced today that the Mount Vernon, New York, Police Department (MVPD) engages in a pattern or practice of conduct that deprives people of rights secured by the U.S. Constitution and federal law. Specifically, the Justice Department finds that MVPD: Uses excessive force in numerous ways, including by unnecessarily escalating minor encounters and by overusing tasers and closed-fist strikes, particularly against individuals who have already been taken to the ground, are controlled by many…

Authorities in two Indian states that are driving its economic growth are drafting tighter workplace rules and inspections to protect white collar employees following the death of a young executive at global consultancy Ernst & Young (EY), which her family blamed on overwork. India’s decades-old labour laws are largely focused on blue-collar workers, leaving others vulnerable to workplace abuse such as punishing work schedules and summary dismissals, unions say. Labour authorities in the states of Maharashtra and Karnataka said they…

TAIPEI (Reuters) – Taiwan’s defence ministry reported a spike in Chinese military activity around the island on Wednesday, including 53 military aircraft, with Taiwan on high alert over Beijing’s latest pressure campaign. China’s military has yet to comment and has not confirmed it is carrying out any military exercises. China, which views democratically governed Taiwan as its own territory, had been expected to launch drills to express its anger at President Lai Ching-te’s tour of the Pacific that ended on…

Ever since the US and its allies imposed sanctions on Russia following the invasion of Ukraine, Western officials have been frustrated by Moscow’s continued ability to get its hands on American technologies to help power its war efforts. Russian weapons recovered from battlefields in the region are chock full of gear from firms like Intel Corp. and Analog Devices Inc., much to the frustration of officials in Washington, Brussels and Kyiv. The nagging question: Why are trade controls failing? A…

NEW YORK – U.S. troops will be staying in Syria after the fall of President Bashar al-Assad as part of a counter-terrorism mission focused on destroying Islamic State militants, a top White House official said on Tuesday. “Those troops are there for a very specific and important reason, not as some sort of bargaining chip,” U.S. Deputy National Security Advisor Jon Finer said in an interview at the Reuters NEXT conference in New York. U.S. troops “have been there now for the…

There are legitimate concerns about the risks of sectarian violence in Syria and a resurgence of extremism in the country, the European Union’s new foreign policy chief Kaja Kallas said on Tuesday, while pointing to positive early signals. Syria’s new interim leader announced on Tuesday he was taking charge of the country as caretaker prime minister with the backing of the former rebels who toppled President Bashar al-Assad three days ago. Kallas also told a European Parliament committee session that…

BEIRUT – A Syria war monitor said on Dec 10 that Islamic State in Iraq and Syria (ISIS) militants in central Homs province killed 54 soldiers who were fleeing as Islamist-led rebels pressed a major offensive on government-controlled areas. ISIS militants captured “personnel fleeing military service in the desert… during the collapse of the regime” of president Bashar al-Assad and “executed 54“ of them in the Sukhna area in Homs province, said the Syrian Observatory for Human Rights. ISIS overran…

Morgan Stanley Smith Barney will pay a $15 million penalty as part of a settlement with the Securities and Exchange Commission related to four financial advisers who stole millions of dollars of advisory clients’ and brokerage customers’ funds. The settlement announced late Monday is also related to the firm’s failure to adopt policies and procedures designed to prevent and detect such theft. The SEC order said that MSSB failed to adopt and implement policies and procedures reasonably designed to prevent…

Israeli Shelling Damages Gaza Hospital, Halts Surgeries Palestinian health officials reported on Sunday that Israeli forces shelled Kamal Adwan Hospital in Beit Lahiya, northern Gaza, severely damaging critical infrastructure. The attack disrupted electricity and oxygen pumps, halting urgent surgeries and medical care. The hospital, one of three barely operational in northern Gaza, was struck by around 100 tank shells and bombs. Several medical staff members and patients were wounded during the attack, and access to operating rooms remains contingent on…

TAIPEI, Taiwan (AP) — China sent 14 warships, seven military aircraft and four balloons near Taiwan between Saturday and Sunday, according to Taiwan’s Defense Ministry, as Beijing ramps up pressure on the island it claims as its own. China’s military activities come amid speculation Beijing might organize military drills around the island in response to Taiwanese President Lai Ching-te’s recent visit to Pacific allies, including U.S. stops in Hawaii and Guam. China claims Taiwan, a self-ruled democracy of 23 million…