Author: News Room

Topline The Official Committee of Unsecured Creditors filed a motion in bankruptcy court on Friday to compel Rudy Giuliani to sell his $3.5 million Florida condo to pay off part of his debts, which became significantly larger after the former New York City mayor was ordered to pay more than $148 million to two election workers he defamed, resulting in him filing for bankruptcy last year. Key Facts The committee said Giuliani has acknowledged his limited assets and told his counsel “there’s no pot of gold at the end of the rainbow.” The filing said the sale of the Palm…

Mr. Bankman-Fried, who was convicted of seven counts of fraud and conspiracy, faces a maximum penalty of 110 years. Federal prosecutors said on Friday that Sam Bankman-Fried, the cryptocurrency mogul who was convicted of masterminding a multibillion-dollar fraud, should receive a prison sentence of 40 to 50 years. The prosecutors outlined the recommendation in a filing in U.S. District Court in Manhattan. Mr. Bankman-Fried’s sentencing hearing is scheduled for March 28, when Judge Lewis A. Kaplan will decide his fate. He faces a maximum possible penalty of 110 years. “Justice requires that he receive a prison sentence commensurate with the…

When Vanessa Hall-Harper, a city councilor in Tulsa, Oklahoma, learned this week that Family Dollar was closing nearly 1,000 stores, she had a surprising reaction. “For communities that have been negatively impacted by the proliferation of dollar stores, it’s a great thing,” she told CNN. “I’ve been waiting on this announcement for a long time.” The loss of these stores will lead to layoffs and may leave a void for low-income Americans with already limited shopping choices. The companies and proponents of dollar store chains say they provide affordable food and essentials for low-income Americans. In some places, dollar stores…

Kazakhstan has been catching the attention of Western countries recently. Through projects like China’s Belt and Road Initiative and the complementary Middle Corridor, both of which pass through Kazakhstan, the country is becoming an important bridge and a global hub for trade and diplomacy between the economies of Europe and Asia. Consequently, Kazakhstan’s foreign policy has major implications for the East and West. Its policies and alliances could greatly influence trade, economic stability, and diplomatic relations in the wider Eurasian region.Kazakhstan’s President Kassym-Jomart Tokayev has repeatedly stated that Kazakhstan needs to foster mutually beneficial and pragmatic cooperation with all foreign partners, including its neighbours. By prioritizing…

Swiss Franc is vulnerable as inflation data continues to undershoot official forecasts.  The SNB expected inflation to average 1.9% in 2024 in its December forecast, but it currently sits at 1.2%.  The latest Producer and Import Prices showed the tenth month of deflation in a row.  The Swiss Franc (CHF) trades flat at the end of the trading week – off by barely a few hundredths of a percent in its most traded pairs. The overal fundamental outlook is not particulay favourable for CHF given Swiss inflation continues to decline and diverge from official estimates. This suggests the Swiss National Bank…

Ant International’s global expansion efforts have grown increasingly strategic since the launch of its Alipay+ and its pivot to boosting interoperability among e-wallets in Asia. While it is difficult to measure the financial success of these efforts, the growth of Ant’s international payments network in the last 18 months has been impressive and the company has smartly pared back its presence in certain markets due to geopolitical pressures. With international travel having recovered to pre-pandemic levels, Alipay+ likely has significant room to grow, especially in neighboring countries. Growth In Korea One of the most important markets for Alipay+ is South…

By Valerie Volcovici WASHINGTON (Reuters) -The U.S. export credit agency on Thursday voted to approve a $500 million loan guarantee for an oil and gas drilling project in Bahrain, testing a U.S. climate pledge to stop backing projects that expand the use of fossil fuels. The board of directors at the Export-Import Bank of the United States (EXIM) approved the project after voting last month to notify Congress about potentially supporting the expansion of an oil and gas field in the Middle Eastern country with over 400 new oil wells and 30 gas wells. While EXIM’s loan to Bapco Energies…

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar rose to a more than one-week high on Friday after a mixed batch of data showed the U.S. economy remained stable with small pockets of weakness, suggesting the Federal Reserve could keep interest rates higher for longer or reduce the planned number of rate cuts this year. The , which tracks the U.S. currency against six major peers, was on pace to post a weekly gain of 0.7%, the largest since mid-January. The index was last flat at 103.43. Data on Friday showed a solid U.S. manufacturing sector, with output rebounding by…

By Daniel Wiessner and Ted Hesson (Reuters) -A federal judge in Texas on Friday rejected a challenge by Republican-led states to a Biden administration program that allows hundreds of thousands of migrants from Cuba, Haiti, Nicaragua and Venezuela to apply for emergency entry into the United States. U.S. District Court Judge Drew Tipton in Victoria, Texas, said the 21 states, led by Texas, lacked standing to pursue the 2023 lawsuit because they could not show that the “parole” program, which allows up to 30,000 people per month to enter the U.S., caused them any injury. Some 234,000 Cubans, Haitians, Nicaraguans…

An executive at ACM Research, Inc. (NASDAQ:), a leading provider of wafer processing solutions for semiconductor manufacturing, has recently sold a significant amount of company stock. The executive, whose title is listed as Senior Vice President, Manufacturing of ACM Research (Shanghai), Inc., a subsidiary of ACM Research, Inc., completed the sale of shares on two separate dates. The transactions, which were carried out under a prearranged trading plan, resulted in the sale of 5,000 shares on March 13, 2024, at an average price of $29.09 per share, and a combined total of 5,000 shares on March 14, 2024, at average…