Tag: All Regions

Donald Trump claimed on Saturday that his arrest is imminent and issued an extraordinary call for his supporters to protest as a New York grand jury investigates hush…

  NORTH CHARLESTON, S.C. (AP) — Top Republicans, including some of Donald Trump’s potential rivals for the GOP’s 2024 presidential nomination, rushed to his defense Saturday after Trump said he is bracing for possible arrest. The reaction underscores the political risks faced by would-be opponents who are eager to convince voters that it is time to move on from the…

German and US authorities, supported by Europol, have targeted ChipMixer, a cryptocurrency mixer used to keep crypto transactions private. The investigation was also supported by Belgium, Poland and Switzerland. On 15 March, national authorities took down the infrastructure of the platform, seizing 4 servers, and also seizing about 1909 Bitcoins in 55 transactions (approx. EUR 44.2 million) and 7 TB of data.

On March 17, the International Criminal Court issued an arrest warrant for Vladimir Putin and Russian Children’s Ombudsman, Maria Lvova-Belova. They are accused of deporting children from the temporarily occupied territories of Ukraine to Russia, which, according to the court, constitutes a war crime.

Russian Foreign Ministry spokeswoman Maria Zakharova called the document “legally worthless.”

“Decisions of the International Criminal Court have no value for our country, in particular from a legal point of view,” Zakharova wrote in a Telegram post.

“Russia is not a party to the Rome Statute of the International Criminal Court and doesn’t bear obligations under it. Russia doesn’t cooperate with this body, and possible ‘recipes’ for arrest coming out of the International Court of Justice will be legally worthless and void for us.”

Deputy head of the Security Council of the Russian Federation and former Russian President, Dmitry Medvedev, made a rather discourteous comment:

“No need to explain how this (piece) paper should be used,” Medvedev said, adding a toilet paper roll emoji to his Twitter post.

While Silicon Valley Bank was seized by the Federal Deposit Insurance Corporation after its value collapsed following a bank run last Friday, the rest of SVB Financial Group will be sold off in an effort to repay creditors and large depositors, though it will not cover everyone who lost money in the collapse. A legal battle is expected to follow. Earlier this week, a shareholder lawsuit filed in the US district court for the Northern District of California alleged that several of SVB’s quarterly and annual financial reports had not fully disclosed the risks being communicated by the Federal Reserve that looming interests rate hikes “had the potential to cause irrevocable damage to the company.” 

While the FDIC only covers customer deposits under $250,000, the administration of President Joe Biden stepped in after SVB’s collapse to guarantee those exceeding that amount, rankling critics who see it as a bailout masquerading as a regulatory action. An inordinately large percentage – 94% – of SVB’s deposits exceeded the $250,000 cutoff, about twice the typical share at other banks. Senate Republicans pointed out that the banks that didn’t fail would be unfairly penalized when their own rates increased to cover the hefty payouts to depositors, costs which would ultimately be passed onto the taxpayer, putting them on the hook for a bailout after all. New York-based Signature Bank collapsed just days after SVB, triggering fears of a wider contagion even as the president attempted to reassure Americans that their finances were safe. Similar to SVB, 90% of its deposits exceeded the FDIC cap.

Angry protesters took to the streets in Paris and other cities for a second day on Friday, trying to pressure lawmakers to bring down French President Emmanuel Macron’s government and doom the unpopular retirement age increase he’s trying to impose without a vote in the National Assembly.

A day after Prime Minister Elisabeth Borne invoked a special constitutional power to skirt a vote in the chaotic lower chamber, lawmakers on the right and left filed no-confidence motions to be voted on Monday.

At the Place de Concorde, a protest by several thousand degenerated into a scene echoing the night before. Riot police charged and threw tear gas to empty the huge square across from the National Assembly after troublemakers climbed scaffolding on a renovation site, arming themselves with wood. They lobbed fireworks and paving stones at police in a standoff.

The International Criminal Court said Friday that it has issued an arrest warrant for Russian President Vladimir Putin for war crimes, accusing him of personal responsibility for the abductions of children from Ukraine.

It was the first time the global court has issued a warrant against a leader of one of the five permanent members of the U.N. Security Council.

The ICC said in a statement that Putin “is allegedly responsible for the war crime of unlawful deportation of (children) and that of unlawful transfer of (children) from occupied areas of Ukraine to the Russian Federation.”

It also issued a warrant for the arrest of Maria Lvova-Belova, the commissioner for Children’s Rights in the Office of the President of the Russian Federation.

The move was immediately dismissed by Moscow.

Three quarters of Australian borrowers are now at risk of becoming home loan hostages due to their lifestyle and financial decisions, new research from mozo.com.au has found. “Home loan customers might be unaware that when they go to refinance their home loan with a new lender, they are assessed as though they are a new borrower, taking into account their…

Eleven of the biggest banks in the U.S. agree to provide funds to shore up First Republic as shares plummet by as much as 70 per cent over the past week.

San Francisco-based First Republic is caught in the fallout from Silicon Valley Bank’s collapse last Friday. Its shares have plummeted as much as 70 per cent over the past week. Much like SVB, First Republic has not reported any sudden loan losses or writedowns. But clients nervous about its stability have been pulling deposits and transferring them to larger institutions, something known as a flight to quality.

With First Republic looking like the next domino to fall in a cascade of bank failures, the larger lenders and investment banks are hoping their deposits will keep it standing, and prevent the situation from spiralling out of control.

It is an unusual approach.

Total spending was flat in February after rebounding in January, with total spending lifting 1.7% over the past three months and 10.3% year-on-year, according to NAB’s latest Monthly Data Insights. Retail spending was flat, with goods retail slipping 0.1% and hospitality rising marginally by 0.2%. Total retail spending increased 0.5% over the past three months and 5.8% year over year….

The Property Council has called for the passage of the Housing Australia Future Fund (HAFF) and the creation of a National Housing and Affordability Council to address the worsening housing crisis. Speaking before the Senate Committee on Housing Affordability in Australia, Property Council of Australia CEO Mike Zorbas (pictured above) urged the federal government to address the growing national deficit…

Guo Wengui, a Chinese billionaire known for his opposition to Beijing and ties to the administration of former US President Donald Trump, has been charged in the United States with defrauding investors out of $1bn.

Guo, also known as Ho Wan Kwok and Miles Guo, was arrested in New York on Wednesday over an alleged conspiracy involving the misappropriation of hundreds of millions of dollars obtained from his thousands of followers online, the US Department of Justice said in a statement.

Guo is accused of pocketing money raised from investors who were promised outsized returns for backing a number of his business ventures, including the media company GTV Media Group, an exclusive membership club known as G|CLUBS and a cryptocurrency called Himalaya Coin.

Latitude Financial has revealed it has been hit by a sophisticated and malicious cyberattack that has compromised a total of 328,000 separate pieces of data that it had sourced from its customers. The loans, credit card and insurance provider said it had detected unusual activity on its systems over the last few days that was believed to have originated from a major vendor used by Latitude.

The company said the attacker appeared to have used employee login credentials to steal personal information that was being held by two other of Latitude’s service providers. In a statement to the ASX on Thursday morning, Latitude said approximately 103,000 identifications documents – 97% of which were drivers’ licences – were stolen from the first service provider, while 225,000 customer records were stolen from a second service provider.

Regulators, policymakers and bankers are looking at the role that digital messaging and social media may have played in the collapse, and whether banks are entering an age when the psychological behavior behind a bank run — mass fear from depositors of losing their savings — may be amplified and go viral quicker than bank officers and regulators can successfully respond.

Samsung Electronics said Wednesday it expects to invest 300 trillion won ($230 billion) over the next 20 years as part of an ambitious South Korean national project to build the world’s largest semiconductor manufacturing base near the capital, Seoul.

The chip-making “mega cluster,” which will be established in Gyeonggi Province by 2042, will be anchored by five new semiconductor plants built by Samsung. It will aim to attract 150 other companies producing materials and components or designing high-tech chips, according to South Korea’s Ministry of Trade, Industry and Energy.

The Japan Securities Dealers Association said Wednesday it has imposed a penalty of 300 million yen on SMBC Nikko Securities Inc for market manipulation, matching the highest fine previously issued by the organization.

According to the JSDA, SMBC Nikko illegally propped up the prices of 10 individual stock issues to stabilize them last year in “block offering” transactions.

The fine imposed on the brokerage by the JSDA is equal to that issued to Nomura Securities Inc. in connection with an insider trading scandal in 2012.