Business News - The Last 24 Hours

Role of two senior executives in PNB fraud under scanner
Indiatimes - 1 min 40 sec ago
To begin with, SWIFT — the international money transfer switch — requires three separate employees with different passwords to issue a message for a transaction, authenticate it and verify it. A fourth employee has access to a printout when the transaction related to a letter of undertaking (LoU ...
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Indiatimes - Rotomac fraud: Will ‘fighter’ maker come out triumphant? - 1 min 40 sec ago
CNBC - Indian billionaire jeweller denied involvement in $1.8 billion bank fraud case - 1 hour 34 min ago
BBC - Indian bank branch at centre of $1.8bn fraud is closed - 18 hours 2 min ago
COMMENTARY:
The Japan Times - Aleph raided over alleged lease fraud - 20 hours 54 sec ago
VIDEO:
Reuters Video - India closes bank branch at heart of fraud, shares slide - 12 hours 39 min ago



How telecom has become driver of economic change in India
Indiatimes - 31 min 41 sec ago
India has done well to stay ahead of the curve in the technological revolution. The country's hyper-competitive telecom sector has led the revolution from the front.



LVMH names Serge Brunschwig as new Chairman and CEO of Fendi
Reuters - 37 min 38 sec ago
PARIS (Reuters) - LVMH , the world's biggest luxury goods group, named on Tuesday Serge Brunschwig as the new chairman and chief executive of its Fendi fashion house, as part of an internal reshuffle.
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CNBC - Top stock exchange CEO urges caution over profit on controversial volatility products - 19 hours 40 min ago
COMMENTARY:
Fox Business - New CEO denies prior knowledge of sex claims against founder - 2 hours 49 min ago
BusinessInsider - Chipotle is testing a trendy new menu item — and it proves the struggling chain is entering a new era with Taco Bell's CEO at the helm (CMG) - 15 hours 15 min ago
Zacks - Citigroup (C) CEO Corbat's Compensation Hiked by 48% in 2017 - 18 hours 33 min ago
The Moscow Times - Rusal Is Said to Plan First Woman CEO as Deripaska Steps Down - 18 hours 42 min ago
VIDEO:
CNBC Video - Woodside Petroleum CEO touts benefits of Scarborough asset - 9 hours 57 min ago



Drive against plastic pollution to gain momentum from India - the global host of World Environment Day 2018
Indiatimes - 1 hour 1 min ago
The World Environment Day (WED) 2018 will be celebrated across India, involving all states and Union Territories. A week-long environmental awareness campaign and pollution mitigation activities are being planned in Delhi and other parts of the country from June 1-5.
COMMENTARY:
The Japan Times - Vast Mexican underwater archaeological site threatened by pollution - 1 hour 1 min ago



Australian tax staff told to report 'long lunch' colleagues
BBC - 1 hour 7 min ago
The Australian Taxation Office orders workers to monitor others for inefficient behaviour.
RELATED:
Indiatimes - PNB Fraud: I-T dept seeks details of Nirav Modi's accounts from foreign tax havens - 5 hours 31 min ago
New York Times - Tax Overhaul Gains Public Support, Buoying Republicans - 11 hours 19 min ago
CNBC - Here are 10 tax changes for 2018 you need to know - 17 hours 1 min ago
COMMENTARY:
The Japan Times - Japan mulling 30% tax rate on revenue from casinos, sources say - 1 hour 1 min ago
Washington Post - Singaporeans’ BFF Just Saved Them a Tax Increase: Gadfly - 3 hours 31 min ago
NY Post - Trump’s tax-cut growth gamble could backfire - 4 hours 27 min ago
Fox Business - 6 Tax Deductions You Can Take Without Itemizing - 9 hours 43 min ago
Kiplinger - New Tax Law: 8 Smart Tax Strategies for Retirees - 11 hours 31 min ago
LA Times - L.A. County's homeless problem is worsening despite billions from tax measures - 17 hours 31 min ago
VIDEO:
CNBC Video - Singapore's plans to raise the goods and services tax needs context - 8 hours 53 min ago



PNB fraud: Gokulnath Shetty kept tabs on action taken against bankers on Facebook
Indiatimes - 2 hours 1 min ago
A glance at his Facebook page suggests that the retired executive kept tabs on disciplinary action against bankers — a group on the social networking site with nearly 12,000 members.
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CNBC - Facebook to verify ads with postcards after Russian meddling - 13 hours 41 min ago
BBC - Facebook to seek verification by post for election ads - 19 hours 38 min ago
COMMENTARY:
TechCrunch - Facebook’s tracking of non-users ruled illegal again - 18 hours 44 min ago
The Japan Times - Conservative Australian politician blasted for Facebook gun photo - 23 hours 1 min ago
VIDEO:
CNN Video - Facebook fights back against Russian trolls - 8 hours 3 min ago



HSBC profits jump to $17.2bn on Asia growth
BBC - 2 hours 56 min ago
While well-known on the UK High Street, the banking giant makes most of its money outside of Britain.
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CNBC - Asian shares poised for slight losses; RBA minutes and HSBC earnings ahead - 8 hours 6 min ago
COMMENTARY:
Fox Business - HSBC's 2017 profit jumps but below view - 1 hour 54 min ago
SCMP - HSBC reports 141 per cent profit rise for 2017, beating analysts’ forecast - 2 hours 43 min ago
Zacks - HSBC to Report Q4 Earnings: What to Expect From the Stock? - 17 hours 51 min ago
VIDEO:
CNBC Video - This analyst says the HSBC ship is 'ready for a new voyage and a new captain' - 8 hours 16 min ago



Exclusive: GM offers $2.2 billion debt for equity swap in return for Seoul's support - sources
Reuters - 3 hours 50 min ago
SEOUL (Reuters) - General Motors has offered to convert debt of around $2.2 billion owed by its ailing South Korean operation into equity in exchange for financial support and tax benefits from Seoul, four sources with direct knowledge of the matter said.
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Reuters - GM plans to produce two new models in South Korea: South Korea lawmaker - 3 hours 55 min ago



Europe's largest bank is about to report earnings. Here's what analysts expect
CNBC - 4 hours 10 min ago
HSBC is due to release its fourth quarter and full year report card at 12 noon HK/SIN on Tuesday.
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Bloomberg - BlackRock Says Buy U.S. Stocks as Tax Plan Supercharges Earnings - 7 hours 5 min ago
Reuters - BlackRock upgrades outlook for U.S. stocks on earnings momentum - 12 hours 31 min ago
COMMENTARY:
Fox Business - Should You Buy Baidu Inc. After its Post-Earnings Pop? - 8 hours 43 min ago
Zacks - What's in Store for PPL Corp (PPL) This Earnings Season? - 14 hours 47 min ago
24/7 Wall St. - Walmart, Hewlett Packard Enterprise, Home Depot and More Major Earnings This Week - 16 hours 16 min ago
BusinessInsider - Hot tech stocks have 'lost their shine' among millennials after mixed earnings - 17 hours 31 min ago



Australia's central bank says wage growth is needed for inflation recovery
CNBC - 6 hours 8 min ago
Australia's central bank indicated a pick-up in wage growth was necessary to ensure a much needed recovery in inflation.
COMMENTARY:
Zero Hedge - Latvia Bank Crisis: Central Bank In Chaos As ECB Blocks Payments By Third Largest Bank - 8 hours 28 min ago
Fox Business - The Latest: Latvian central bank chief is released on bail - 13 hours 9 min ago
VIDEO:
Reuters Video - Latvian PM says central bank chief should resign - 18 hours 42 min ago



After Florida School Shooting, Russian ‘Bot’ Army Pounced
New York Times - 6 hours 20 min ago
Twitter accounts suspected of having links to Russia were focused on Robert Mueller. But after news broke about the shooting, they quickly changed their focus.
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Euronews - Trump shooting Kim Jong-un out of a cannon and other highlights from Carnival 2018 - 18 hours 6 min ago
COMMENTARY:
Fox Business - Florida shooting gun maker diversified through deals - 10 hours 6 min ago
BusinessInsider - 'Their blood is on your hands': Parkland high school students hit back at Trump for blaming Democrats and the FBI for the shooting - 10 hours 23 min ago
The Japan Times - Florida shooting survivors on potential collision course with Trump - 18 hours 1 min ago
The Big Picture - Some Time Series Correlates of Mass Shooting Statistics - 20 hours 30 min ago
LA Times - No one becomes a mass shooter without a mass-shooting gun - 23 hours 26 min ago



Over half of Japan firms do not plan base pay rise this year
Reuters - 8 hours 18 min ago
TOKYO (Reuters) - More than half of Japan's companies do not plan to raise base pay in annual wage talks in coming months, a set back for the prime minister and the country's main business lobby which has called for wage rises of 3 percent to fuel an economic revival.
COMMENTARY:
The Japan Times - The narrow latitude of Japan’s security policy - 21 hours 1 min ago



U.K. Promises Not to Torch EU Regulation in Post-Brexit Britain
Bloomberg - 9 hours 1 min ago
Brexit Secretary David Davis will reassure the European Union that the U.K. won’t try to undercut the bloc by tearing up regulations after the split, making the case for mutual trust between regulators on each side.
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Euronews - Anti-Brexit party launches in the UK - 13 hours 17 min ago
Bloomberg - U.K. Has a Secret Plan to Hold Brexit Cash If EU Refuses to Trade - 13 hours 31 min ago
COMMENTARY:
The Japan Times - Inspired by French president’s En Marche movement, new anti-Brexit party launches in Britain - 2 hours 1 min ago
WSJ Blogs - Brexit and Beyond: U.K. Wants Defense Cooperation With EU, What Ham Says About Spain's Economy, France's Labor Market in Flux - 8 hours 18 min ago
Fox Business - UK vows no 'Mad Max style' deregulation after Brexit - 8 hours 49 min ago
Naked Capitalism - Another Brexit Mess: “Grandfathering” Existing Free Trade Agreements Looks Unlikely - 20 hours 36 min ago



BoE's Carney says Bitcoin has 'pretty much failed' as currency
Reuters - 11 hours 41 min ago
LONDON (Reuters) - Bitcoin has failed as a currency measured by the traditional benchmarks, and is neither a store of value nor a useful way to buy things, Bank of England Governor Mark Carney said on Monday.
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CNBC - Bitcoin thieves threaten real violence for virtual currencies - 13 hours 2 min ago
COMMENTARY:
LA Times - How to deal with currency while in Vietnam, and other money-saving tips - 16 hours 31 min ago



Uber suspends service in Morocco after two years
Reuters - 13 hours 3 min ago
BRUSSELS (Reuters) - Uber said on Monday it would suspend operations in Morocco, two years after they began, as it tries to bring its business into line with local laws.
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Reuters - Uber drops opposition to London language test - 13 hours 44 min ago
COMMENTARY:
LA Times - Car belonging to missing Uber and Lyft driver found in Koreatown - 6 hours 1 min ago
BusinessInsider - Uber may sell off its Southeast Asia business to improve its finances as it prepares to IPO - 18 hours 44 min ago
VIDEO:
CNBC Video - Uber will look to 'cut losses' and 'hedge growth' in Asia - 8 hours 49 min ago



Latvia Seeks to Block ECB Member From His Post Amid Graft Probe
Bloomberg - 13 hours 18 min ago
Latvia will seek to prevent European Central Bank Governing Council member Ilmars Rimsevics from returning to his post after he was caught up in a bribery probe that’s rocked the Baltic nation, the country’s prime minister said in an interview.
COMMENTARY:
Fox Business - Banker: "Nightmare" dodging extortion attempts in Latvia - 11 hours 29 min ago
Washington Post - The ECB’s Latvia Containment Dome Is Fully Operational: Gadfly - 16 hours 31 min ago



Why A.I. Researchers at Google Got Desks Next to the Boss
New York Times - 13 hours 28 min ago
At Google, Facebook and other tech companies, executives are making statements about priorities with their seating charts.
COMMENTARY:
Fox Business - Snap Sees Its Reliance on Google and Amazon As an Advantage - 13 hours 43 min ago
Washington Post - In our eyes, Google's software sees heart attack risk - 14 hours 31 min ago
TechCrunch - Google’s Tez payments app now lets users handle their utility bills and more - 21 hours 43 min ago



Deutsche Bank to lay off up to 500 investment bankers
Indiatimes - 14 hours 1 min ago
250 earmarked to go; Move comes in the wake of a 15 percent fall in revenues last year, even as compensation & benefits to employees rose by 8 percent.
RELATED:
Deutsche Welle - Deutsche Bank to clip investment banking wings - 15 hours 58 min ago
COMMENTARY:
Zero Hedge - Deutsche Bank To Fire Up To 500 Amid Tumbling Trading Revenues - 14 hours 59 min ago



Latvia's financial sector rocked by US probe and bribery charge
Deutsche Welle - 14 hours 11 min ago
Latvia’s third biggest bank has sought emergency financial support after US officials accused it of helping breach North Korean sanctions — hours after the central bank governor was arrested over bribery allegations.
RELATED:
BBC - Latvian central bank boss 'wanted bribe' - 17 hours 59 min ago
COMMENTARY:
Fox Business - Latvian state TV: Central bank chief is released on bail, rejects allegations pending bribery investigation - 13 hours 29 min ago
The Guardian - Latvian representative at ECB detained in bribery case - 14 hours 12 min ago



Chicken shortage hits KFC
BBC - 14 hours 24 min ago
KFC has closed 562 chicken restaurants after problems with a supplier caused a shortage of chicken.
RELATED:
Reuters - KFC closes most of its UK stores due to chicken shortage - 15 hours 21 min ago
CNN - KFC is running out of chicken across the U.K. - 15 hours 29 min ago
CNBC - KFC branches in UK forced to close after chicken shortage - 17 hours 35 min ago
BBC - KFC chicken shortage closes outlets - 22 hours 41 min ago
COMMENTARY:
Washington Post - KFC restaurants in the U.K. have a problem. They don't have chicken. - 11 hours 31 min ago
NY Post - What the cluck? KFC runs out of chicken - 14 hours 2 min ago
VIDEO:
CNN Video - KFC has a chicken delivery problem in the UK - 9 hours 4 min ago
Reuters Video - Chicken shortage forces KFC to close many UK stores - 11 hours 56 min ago



Spain's Luis de Guindos Nominated for ECB VP Role, Says Official
Bloomberg - 14 hours 31 min ago
The Eurogroup has nominated Spain's Minister of Economic Affairs Luis de Guindos for the role of Vice President at the European Central Bank, according to an official. Bloomberg's Maria Tadeo and Alessandro Speciale report on "Bloomberg Markets." (Source: Bloomberg)
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Deutsche Welle - Spain set to get ECB vice presidency after Ireland withdraws nomination - 14 hours 47 min ago
Bloomberg - Spain's Guindos Set to Get Eurogroup Backing for a Top ECB Job - 17 hours 23 min ago
CNBC - Shorting the euro means taking on the Pentagon and the ECB - 23 hours 25 min ago
COMMENTARY:
Fox Business - Spanish finance minister backed for leading ECB job - 14 hours 45 min ago



Spain set to get ECB vice presidency after Eurozone ministers back Luis de Guindos
Deutsche Welle - 14 hours 47 min ago
Eurozone finance ministers in Brussels have backed Spain's candidate to become the next vice president of the European Central Bank. The decision was expected after Ireland withdrew its candidate for the post.



Commerce Ministry starts two-day brainstorming session on WTO
Indiatimes - 15 hours 31 min ago
Diversified group of participants from academia, research, civil societies and ministries are participating in the meeting.



Keeping the upcoming election in mind, Government shifting focus from consumers to producers: Nomura
Indiatimes - 15 hours 31 min ago
“Government policies are shifting from supporting consumers (keeping food price inflation low) to supporting food producers (raising food prices)” said Nomura.
COMMENTARY:
Fox Business - APNewsBreak: Consumers Energy to stop burning coal by 2040 - 16 hours 45 min ago
Zacks - Consumer Sentiment Soars to Record High: 5 Picks - 19 hours 24 min ago



Deutsche Bank to cut at least 250 investment banking jobs: Report
CNBC - 16 hours 39 min ago
Deutsche Bank is cutting at least 250 investment banking jobs, a person familiar with the matter told Reuters.
RELATED:
Reuters - Deutsche Bank to cut at least 250 investment banking jobs -source - 17 hours 46 min ago



Modi takes on Siddaramaiah over corruption on his home turf Mysuru
Indiatimes - 17 hours 1 min ago
In a stinging attack on the Siddaramaiah government at a public rally in Karnataka on February 4, Modi had accused it of setting new records in corruption.
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CNN - Top European banker detained in anti-corruption probe - 18 hours 20 min ago
CNBC - ECB imposes payment block on Latvian bank amid US corruption allegations - 19 hours 13 min ago



Retail investors would 'bear the brunt' of a cryptocurrency market collapse, study says
CNBC - 18 hours 34 min ago
The S&P Global Ratings report said that a huge drop in the value of cryptocurrencies would be unlikely to disrupt financial markets.
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Reuters - Congress sets sights on federal cryptocurrency rules - 19 hours 3 min ago
CNBC - Venezuela is about to pre-sell its ‘petro’ cryptocurrency, and it could be an ‘excellent pilot for Putin’ - 20 hours 27 min ago
COMMENTARY:
SCMP - US Congress mulls stricter oversight on cryptocurrencies - 4 hours 47 min ago
Zero Hedge - Deutsche: "If Trust In Monetary & Political Stability Were Lost, People Would Turn To Cryptocurencies" - 12 hours 1 min ago
Fox Business - 3 Ways to Play Cryptocurrencies Without Buying Them - 18 hours 59 min ago



Alibaba, Tencent rally troops amid $10 billion retail battle
CNBC - 19 hours 25 min ago
Since the start of last year, the two companies have between them spent more than $10 billion on retail-focused deals.
RELATED:
Indiatimes - Alibaba, Tencent rally troops amid $10 billion retail battle - 21 hours 31 min ago
Reuters - Alibaba, Tencent rally troops amid $10 billion retail battle - 22 hours 16 min ago
COMMENTARY:
SCMP - Alibaba, Tencent rally troops amid $10 billion retail battle - 6 hours 46 min ago
Fox Business - Alibaba Finally Hints at Financials Behind a Much-Hyped New Retail Strategy - 10 hours 43 min ago



New Greek Loans Prove Elusive as Talks Near on Post-Bailout Life
Bloomberg - 21 hours 14 min ago
Greece is not expected to get its next slice of financial aid just yet, as a couple of key reforms linked to the bailout loans remain outstanding, according to a report obtained by Bloomberg. The delay comes as the debt-ridden state seeks to convince investors and creditors it will soon be able to f ...



Bitcoin broke through $11,000 for the first time since January
CNBC - 21 hours 43 min ago
Fears over tighter regulation, which was one of the catalysts for the recent cryptocurrency crash, appear to have subsided.
COMMENTARY:
Zero Hedge - Bitcoin Nears $11,500 - Almost Double The 'Mystery Dip-Buyer' Lows - 6 hours 39 min ago
Fox Business - Can Cardano Replace Bitcoin and Ethereum? - 6 hours 43 min ago
NY Post - Anonymous bitcoin trader makes $400 million bet - 13 hours 27 min ago
SCMP - Bitcoin pushes through US$11,000 threshold in fourth day of gains - 13 hours 53 min ago
BusinessInsider - Criminals are reportedly abducting the 'cryptorich' to steal their Bitcoin (BTC) - 15 hours 29 min ago



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