Poor debt provisions in retail trade spiked to C$81m, compared to a C$9m recovery a year earlier, according to the latest quarter-end results. This performance signifies the increasing pressure flowing from rising borrowing costs. In a communication shared with Reuters, the Bank informed automotive dealers that new agreements are off the table as of 15…
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Tolstedt captained the retail and small business lending institution from 2007 to 2016 and became the only top Executive to face criminal charges. This occurred after the company’s forceful sales culture, which resulted in opening millions of accounts and selling products customers did not want, came to light. Prosecutors in the case vied for a…
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Dynamic M-ELO aims to speed up order matches and minimise market impact, boosting the efficiency of an already speedy stock market even more. According to the exchange, this will establish better trading outcomes. This initiative follows predictive AI, the Strike Price Optimisation Programme, implemented in the Nasdaq U.S. options market earlier this year. It enhanced…
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According to legal documents cited by Bloomberg, experts are trying to determine if all payments were above board. This includes sponsorships to well-knowns such as the NBA’s Shaquille O’Neal and professional tennis player, Naomi Osaka, who received approximately $3.2m from FTX. The once-prominent cryptocurrency exchange submitted its Chapter 11 filing for bankruptcy in November 2022.…
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The communication stated that the Genesis Global subsidiary would discontinue all over-the-counter operations and notified customers that all trades must be settled by the said date. GGT also indicated it would close all open accounts come the end of the month. In an official statement, GGT maintained voluntary business strategies and moves motivated this decision.…
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The crux is that these flight cancellations were typically due to circumstances that fell within the airline’s control, including re-routing, availability of landing and take-off runways in airports, and consumer demand. In the court filing, the watchdog Australian Competition and Consumer Commission suggested that tickets remained available on various airline comparison sites and Qantas’ website…
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Essentially, this would entail a restriction on the sale of Nvidia AI chips and only allow those with socially responsible agendas to acquire them. In a Financial Times interview, Suleyman said companies should agree to minimum global standards in line with the pledge of AI leaders to the White House. This pledge refers to the…
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The bank, however, indicated these earnings were mostly assets acquired after the Credit Suisse takeover. The planned job cuts reflect the magnitude of the reshuffling needed after anxious clients withdrew billions when the Credit Suisse writing appeared on the wall. Don’t miss out the latest news, subscribe to LeapRate’s newsletter As workforce reductions create the…
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Upon receiving the final green light, SEBA Hong Kong’s regulated financial activities will include virtual asset-related products, such as over-the-counter (OTC) derivatives, consulting on securities and virtual assets, and performing asset management for both traditional and virtual securities. Don’t miss out the latest news, subscribe to LeapRate’s newsletter This move follows Hong Kong’s introduction of…
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Authorities believe Binance assisted and is assisting Russians to transfer funds out of Russia, despite the company’s claims that it stopped all operations in this country. This crypto exchange also stressed its support of Western-based sanctions against Russia after it invaded Ukraine. To align its activities with the said sanctions, Binance said it had limited…
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