Author: IA PressRoom

Prosecutors shared a key piece of evidence in the case against FTX founder Sam Bankman-Fried. An employee recorded Caroline Ellison blaming him for using customer funds, per a new filing. Bankman-Fried was remanded to prison in New York last week for leaking Ellison’s diary entries. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Federal prosecutors said that Caroline Ellison, a top affiliate and ex of FTX founder Sam Bankman-Fried, blamed the embattled cryptocurrency mogul for using FTX customer deposits in a recording from a…

Receive free Pharmaceuticals sector updatesWe’ll send you a myFT Daily Digest email rounding up the latest Pharmaceuticals sector news every morning. Chinese pharmaceutical companies are developing domestic versions of “miracle” weight-loss drugs as they take on western drugmakers selling anti-obesity medication in one of the world’s biggest markets.Chinese drug companies hope to compete with the Danish pharma group Novo Nordisk’s pioneering drugs in China, which has the world’s largest overweight and diabetic population. If successful, they could also potentially offer a cheaper alternative in the west.The new generation of weight-loss drugs form part of a category called glucagon-like peptide-1 agonists…

© Reuters. FILE PHOTO: Pedestrians walk near the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand, July 3, 2017. REUTERS/David Gray/File Photo By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s central bank held the cash rate steady at 5.5% on Wednesday, as it reiterated that its previous rate hikes had helped constrain spending and inflation pressures as anticipated. The decision was in line with expectations from 29 economists in a Reuters poll all forecasting the Reserve Bank of New Zealand (RBNZ) would leave the cash rate at a 14-year high for the second…

© Reuters. FILE PHOTO: Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File Photo By David Carnevali NEW YORK (Reuters) -Esmark Inc majority owner and chief executive James Bouchard said in an interview on Tuesday that his steelmaker, which does not publicly report its earnings, has cash for its $7.8 billion bid for U.S. Steel Corp sitting in his bank account. Esmark unveiled its offer on Monday after Cleveland-Cliffs (NYSE:) Inc, another steelmaker, said on Sunday it had made a $7.3 billion offer for U.S. Steel, which the latter rejected. Cleveland-Cliffs…

© Reuters. Investing.com– Oil prices crept lower in Asian trade on Wednesday, shrugging off signs of a bigger-than-expected draw in U.S. inventories as concerns over worsening Chinese economic conditions and rising interest rates weighed.  Crude prices fell sharply from 2023 highs in recent sessions as weak economic indicators from top importer China continued to pour in, while signs of a potential resurgence in U.S. inflation boosted the dollar. While oil prices were still trading relatively higher for the year on the prospect of tighter supplies, their stellar rally over the past two months now appeared to have run out of…

Source: fusssergei/AdobeSouth Korean police are stepping up their crackdown on crypto-powered drug trafficking, and have made 312 arrests in a wide-sweeping narcotics bust.The broadcaster KBS reported that the arrests were carried out by the Seoul Metropolitan Police Agency’s Drug Crime Investigation.The suspects were charged with violating the Narcotics Control Act.Police said the suspects were thought to have bought or sold drugs using dark web portals.They are thought to have made use of “non-domestic” chat apps like Telegram, and conducted trades using cryptoassets such as Bitcoin (BTC).And police said that the group contained at least six alleged “large-scale” drug dealers.This group…

© © Reuters. Javier Milei em Buenos Aires 13/8/2023 REUTERS/Stringer Investing.com – The faces a tough road ahead, ING warned Tuesday, as the recent shock primary election victory for Argentina’s far-right presidential candidate Javier Milei throws the country’s political and economic future into doubt.  Far-right libertarian economist Javier Milei, who wants to scrap wants to scrap the peso and abolish the country’s central bank, won 30% of the vote in the recent primary elections, which serves as a dress rehearsal for the general election slated for Oct. 22. “The only way is down,” ING said, referring to the peso’s likely…

Shares of Coherent Corp. tumbled 17% in after-hours trading Tuesday after the optoelectronics company issued a weaker-than-expected outlook for the quarter and year ahead. The company anticipates adjusted earnings per share of 5 cents to 20 cents on revenue of $1 billion to $1.1 billion for the fiscal first quarter, it said Tuesday. Analysts tracked by FactSet were modeling 47 cents a share in adjusted earnings along with $1.17 billion in revenue. For the full fiscal year, executives at Coherent COHR, -1.26% model $1 to $1.50 in adjusted EPS, along with $4.5 billion to $4.7 billion in revenue. The FactSet…

The federal prosecutors who charged former President Donald J. Trump this month with conspiring to overturn the 2020 election got access this winter to a trove of so-called direct messages that Mr. Trump sent others privately through his long defunct Twitter account, according to court papers unsealed on Tuesday.While it remained unclear what sorts of information the messages contained and who exactly may have written them, it was a revelation that there were private messages associated with the Twitter account of Mr. Trump, who has famously been cautious about using written forms of communications in his dealings with aides and…

Tyumen, Russia – January 21, 2020: TikTok and Facebook application on screen Apple iPhone XRgetty Tax tips on TikTok and other social media can be helpful. But when a tax strategy sounds too good to be true, it should give you pause even if—or perhaps especially if—a post, reel, or clip is circulated widely. Going viral doesn’t mean it’s any more valuable. In some instances, those numbers may be artificially bumped as they’re shared by tax professionals to point out the flaws—as happened recently on X, formerly known as Twitter, in a thread discussing the infamous Augusta Rule. This month,…