According to an Austrian Broadcasting Corporation (ORF) radio report, Benko allegedly deceived a local bank about the financial standing of Signa in renewing a €25m loan. Reuters reported that the property tycoon’s lawyer, Norbert Wess, confirmed this investigation and said that Benko was notified “some time ago”, but maintains that the accusations are “unfounded”. The…
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The collapse of the business resulted in investors losing approximately $40bn. This is a win for the US Securities and Exchange Commission (SEC), which lodged the case and constantly seeks greater control over the trading of crypto assets. Kwon also faces ongoing criminal cases in the US and South Korea. Based on Bloomberg information, he…
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In its March quarterly meeting notes, the Committee acknowledged the vital role of private equity in facilitating finance to the UK's real economy. However, it pointed out the challenges in evaluating asset values and leverage within this sector, which complicates the assessment of potential risks to financial stability, investment, and employment. It was also noted…
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This user engagement has created around a million financial plans, doubling those previously established in direct consultations with financial advisors. Kristin Lemkau, CEO of JPMorgan Wealth Management, emphasised the importance of planning in achieving personal financial goals, stating, "Planning helps people think about what they truly want in life. It's not just about wanting to…
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Pending judicial approval, this agreement aims to settle allegations from legal action initiated in 2005. For years, retailers have voiced grievances against Visa and Mastercard, alleging that the credit card giants imposed excessive charges on interchange fees, also known as swipe fees, whenever consumers made purchases using credit or debit cards. Furthermore, the retailers contended…
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For years, the fate of NatWest has been closely intertwined with governmental strategies aimed at stabilising the UK's financial system during tumultuous times. The recent announcement by the finance ministry highlights a deliberate and ongoing effort to transition the bank back into full private ownership. This process has been meticulously managed by gradually selling the…
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Despite Beijing's efforts to rejuvenate the industry through a "whitelist" approach designed to alleviate the sector's liquidity challenges, major domestic banks have remained cautious, limiting their credit extension to the beleaguered industry, vital for the nation's economic health. Since 2021, the real estate market in China, the world's second-largest economy, has faced successive challenges triggered…
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The country also wants to sidestep Windows, Microsoft Corporation’s (MSFT) widely used operating system, and other internationally produced database software. The guidelines reportedly stipulated that all government bodies above the “township level” must adapt their procurement criteria to ensure that they acquire only “safe and reliable” microchips and software. In December 2023, China’s Ministry of…
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The announcement suggests that Santander, the second-largest bank in the eurozone by market capitalisation, anticipates its net profit for 2024 to surpass €12 billion. The bank adheres to a 50% payout policy, evenly dividing the distribution of earnings between cash dividends and share buybacks. During the annual shareholder meeting, Santander's Executive Chair, Ana Botin, conveyed…
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The initiative is part of BMO Global Asset Management's broader strategy to democratise investment in private markets, which have historically been the domain of large institutional players. Engaging with private equity firms like Carlyle, known for their profound expertise in the private sector, is a tactic increasingly employed by companies aiming to enhance their investment…
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