Reportedly, Haru Invest emphasised high-yield promises while it froze certain platform functions in June 2023. Around this time, the outfit also cut 100 jobs. The company cited issues with its partners as the reason why customers could not make deposits or withdrawals. Yonhap News described the company as a “rug pull” front for fraud, which…
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Based on the China Association of Automobile Manufacturers (CAAM) statistics, the overall sales, which include exports, came to 2.44 million units. Although this is an annual 47.9% jump, it is a 22.7% dip compared to December 2023. The CAAM data tracks sales to third-party dealers and vehicles such as trucks. Reuters indicated that, according to…
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Alongside major Italian banks such as Intesa Sanpaolo (ISP.MI) and UniCredit (CRDI.MI), MPS has benefited significantly from the rise in interest rates. Additionally, the bank has gained from positive outcomes in several legal disputes with former executives, alongside ongoing restructuring efforts led by CEO Luigi Lovaglio. Thanks to the favourable court decisions, the bank could…
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The rally higher helped mitigate the recent downturn triggered by the bank's disclosure of significant provisions for potential bad loans in the commercial real estate sector, an unexpected quarterly loss, and a reduction in dividend payments. The decline in shares previously erased around 60% of the bank's market value, bringing it down to just over…
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The RBA maintained its view on the inflation trajectory, expecting to achieve an annual target range of 2% to 3% by 2025, with a midpoint within that range expected only by 2026. In the statement on its Monetary Policy Decision, the RBA stated: The Board remains resolute in its determination to return inflation to target…
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The company pointed out the gaps between virtual authentication and access processes. According to its 2023 data, 26% of all Cisco Talos Incident Response incidents comprised fraudulent logins to gain access to authentic accounts. Due to the connection between accounts used on different platforms, Cisco said that cybercriminals only need to compromise one digital identity…
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This per-share takeover price is significantly higher than the German manufacturer’s going market performance. At the final bell on Monday, MorphoSys’s Nasdaq shares priced at $17.27. Bloomberg claimed that this acquisition was an attempt by Vasant Narasimhan, the Novartis CEO, to prove to investors that he could drive financial and organisational growth. After disappointing financial…
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Despite a rapid decrease in inflation from the high levels of 2022 and the euro zone's current economic slowdown, market forecasts anticipate up to five ECB rate reductions this year, potentially starting as early as April. However, Vujcic and other policymakers in Europe and the Federal Reserve in the United States advocate for a cautious…
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This expansion strategy is set against a backdrop where some financial institutions are scaling back their physical locations. According to S&P Global Market Intelligence data, the total number of U.S. bank branches stood at 77,690, following 123 closures and 80 openings in October alone. At the end of 2023, JPMorgan boasted the largest branch network,…
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The PAYTM stock crashed on 5 February to ₹438.35, limit down by 10%, following a staggering 36% fall in the preceding two sessions. The RBI, India's Central Bank, issued the directive on 31 January after its inspections at PPBL revealed the bank had failed to comply with some regulations. Non-compliance included Know Your Customer (KYC)…
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