Tag: All Regions

Thomas Flohr, owner of luxury airline VistaJet, must fight a claim that he defrauded a Guernsey investment partnership two decades ago after London’s High Court refused to dismiss the case.  Flohr, who denies the allegations, had tried to have the case thrown out on technical grounds related to the circumstances of the case, in which a previously dissolved partnership was resurrected in 2021 in order to file the suit.  Frontiers Capital initially sued for breach of contract in 2021 but…

Air Force Chief of Staff Gen. David Allvin pledged Monday in his first message to the force to forge ahead with plans to redefine the service as it faces a faster-paced, less-predictable era of war. Allvin’s letter — an initial blueprint for the newly installed leader as he begins a four-year term — indicates the chief will continue a multibillion-dollar technology modernization push and deployment reforms designed to best China and move on from two decades at war in the…

Airbnb is facing the prospect of a tax bill worth hundreds of millions of euros following an Italian court ruling in an evasion case. Prosecutors in Milan say a judge authorised the seizure of €779.5m (£677m) from the short-term property rental platform. They said it related to an alleged failure by the company to comply with laws that require Airbnb to pay Italian tax authorities 21% of landlords’ rental income in the country. The requirement dates back to an EU…

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Russian national Ekaterina Zhdanova for laundering millions in cryptocurrency for various individuals, including ransomware actors. Zhdanova used her expertise in cryptocurrency and blockchain networks to move money through various platforms such as Garantex (sanctioned in April 2022 for aiding the Hydra Market) to evade “Anti-Money Laundering/Combating the Financing of Terrorism” (AML/CFT) controls. A report from blockchain analysis firm Chainalisys provided additional information about Zhdanova’s public businesses, which may or may not be part of her…

WAUKEGAN, Ill. — The father of a man charged in a deadly Fourth of July parade shooting in suburban Chicago will stand trial starting Monday accused of helping his teenage son obtain a gun license even after he had threatened violence. Robert Crimo Jr. is charged with seven counts of reckless conduct — one for each person his son, Robert Crimo III, is accused of killing in Highland Park on Independence Day last year. Each count carries a maximum three-year…

Telecom Italia SpA has agreed to sell its land-line network to KKR & Co. in a government-backed deal valued at around €22 billion ($23.6 billion), according to people familiar with the matter. The phone carrier’s board of directors, after a marathon meeting that started on Friday, approved the grid sale to the US private equity giant on Sunday without making it conditional on a vote by shareholders, the people said, asking not to be identified as the decision isn’t yet public. The approval…

Israeli Prime Minister Benjamin Netanyahu’s thinly veiled call to “go and smite Amalek, and utterly destroy all that they have, and spare them not; but slay both man and woman, infant and suckling, ox and sheep, camel and donkey” is being taken literally. ]Netanyahu declaring invasion: “You must remember what Amalek has done to you, says our Holy Bible” 1 Samuel 15:3 “Now go and smite Amalek, and utterly destroy all that they have, and spare them not; but slay…

Washington D.C., Nov. 2, 2023 — The Securities and Exchange Commission today charged John Hughes, president and chief compliance officer of registered investment adviser Prophecy Asset Management LP, for his involvement in a multi-year fraud that concealed losses of hundreds of millions of dollars from investors. Prophecy Asset Management advised multiple hedge funds and reported more than $500 million in assets under management. The SEC’s complaint alleges that Hughes and his associates at Prophecy Asset Management misled the funds’ investors,…

In a recent development, PayPal has been registered by the Financial Conduct Authority (FCA) to offer crypto asset activities in Britain. This move comes as PayPal establishes a post-Brexit base in the UK, reflecting its commitment to serving the British market. According to a Reuters report, the crypto market in the UK awaits its first set of regulations; companies seeking to offer crypto assets must demonstrate to the FCA that they have robust safeguards to prevent money laundering and financing…

A history of mental illness. An array of weapons. Law enforcement knew about his potential for violence. But he was still able to own guns and commit the deadliest mass shooting in Maine’s history. One week later, many in Lewiston and nationwide are asking: Why did he have guns at all? Robert Card was identified by authorities as a person of interest four hours after he shot and killed 18 people and wounded 13 others at a bowling alley and…

TAIPEI: Taiwan said on Wednesday that China sent 43 military aircraft and seven ships near the self-ruled island, the latest sign that Beijing plans no let-up in its campaign of harassment, threats and intimidation. Taiwan’s defenceministry said 37 of the aircraft had crossed the median line in the Taiwan Strait, which China no longer recognises as an informal divider between the sides.It said Taiwan had monitored the situation, scrambled jet fighters, dispatched ships and activated land-based missile systems, all standard…

The Toronto Public Library is experiencing ongoing technical outages due to a Black Basta ransomware attack. The Toronto Public Library (TPL) is Canada’s largest public library system, giving access to 12 million books through 100 branch libraries across the city. The library system has 1,200,000 registered members and operates on a budget that surpasses $200M. Earlier this week, TPL warned that a cyberattack is causing technical outages on its websites and some online services. These outages include the tpl.ca site…

Jordan, a key US ally, said Wednesday it has recalled its ambassador from Israel and told Israel’s ambassador to remain out of the country in protest over the “humanitarian catastrophe” in Gaza. Jordan’s deputy PM said the return of the ambassadors is linked to Israel “stopping its war on Gaza … and the humanitarian catastrophe it is causing.” Jordan signed a peace deal with Israel in 1994. Meanwhile, Bolivia said on Tuesday it had broken diplomatic ties with Israel because…

In a devastating cyberattack that unfolded over three days in May 2023, numerous victims fell prey to a large-scale intrusion. The attackers exploited a vulnerability in MOVEit, a managed file transfer software, sending shockwaves across various sectors. Government agencies, airlines, educational institutions, financial organizations, and healthcare providers found themselves in the crosshairs of this breach. The attackers absconded with sensitive data, including credit card information, personally identifiable information (PII), and social security numbers (SSNs). In a startling revelation, Bloomberg reported…

DUBAI: The only cancer treatment hospital in the Gaza Strip has gone out of service after it ran out of fuel, health officials said on Wednesday. The director of the Turkish-Palestinian Friendship hospital told a press conference aired by Al-Jazeera TV that the hospital, which mainly treats cancer patients, had used up its fuel and was now out of service. “We tell the world don’t leave cancer patients to a certain death due to the hospital being out of service,”…

The Trump era was very, very good to the country’s giant telecom monopolies. Trump officials doled out billions in tax breaks (AT&T nabbed $42 billion alone) and billions more in poorly tracked subsidies. It also approved anticompetitive mergers without even reading the details, and handed out all manner of regulator favors like the dismantling of net neutrality or the elimination of media consolidation rules. In absolutely every instance telecoms like AT&T and Comcast claimed these efforts would boost broadband deployment…