Article: Corus Entertainment Is Watching for Windows in High-Yield Market

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Corus Entertainment Is Watching for Windows in High-Yield Market

Esteban Duarte, 07 May 2021

Corus Entertainment Inc., which has produced shows led by actors such as Christopher Plummer, plans to take an opportunistic approach to U.S. and Canadian high-yield bond markets after a recent debt sale fetched strong investor demand, Chief Financial Officer John Gossling said.

The Toronto-based based firm sold C$500 million ($410.3 million) of seven-year unsecured bonds April 26 in the company’s first such deal since 2013. Proceeds are being used to reduce bank credit facilities, which are in the process of getting extended to May 2025, he said. Continue reading “Article: Corus Entertainment Is Watching for Windows in High-Yield Market”

Article: Hedge Funds Make Biggest Short Bet on Junk Bonds Since 2008

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Hedge Funds Make Biggest Short Bet on Junk Bonds Since 2008

Laura Benitez and Tasos Vossos, 07 May 2021

Hedge funds have accumulated the biggest short position on junk bonds since 2008 in another sign that investors are lining up to bet against frothy debt markets. About $55 billion of global high-yield bonds has been sold short, according to data from IHS Markit Ltd. That’s up from $35 billion at the start of the year.

The heady mix of rich valuations and willingness of bond bulls to throw cash at ever-riskier companies is raising alarm bells that credit markets are looking increasingly stretched. Add in the threat of rising interest rates, and there’s plenty of reason for some investors to be nervous. Continue reading “Article: Hedge Funds Make Biggest Short Bet on Junk Bonds Since 2008”

Article: How America Became the Money Laundering Capital of the World

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In March, federal agents raided the Beverly Hills premises of a company called U.S. Private Vaults. According to a subsequent grand jury indictment, U.S. Private Vaults was a money laundering operation where drug dealers and others could anonymously stash fentanyl, guns, and “huge stacks of $100 bills” in safe deposit boxes. U.S. Private Vaults didn’t really bother to hide its business, boasting in ads, “We don’t even want to know your name.” It also shared its strip mall storefront with Gold Business, which allegedly specialized in laundering drug money via purchases of gold. Continue reading “Article: How America Became the Money Laundering Capital of the World”

Article: What were the biggest short squeezes in history?

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What were the biggest short squeezes in history?

IG Analyst, 07 May 2021

From Piggly Wiggly to GameStop, short squeezes have been causing drama on the stock markets for more than a century. Read on to learn about the biggest short squeezes in history and how to take part in the next one.

What are short squeezes?

Short squeezes are market events where traders push up the value of a stock, forcing short sellers to buy (go long) to minimise their losses.

As the short sellers buy stock, the share value rises even higher, increasing the profits of the short-squeezing traders.

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Article: CCIV Stock News: Lucid Motors CCIV shares rebound as weak jobs report means low rates forever!

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CCIV Stock News: Lucid Motors CCIV shares rebound as weak jobs report means low rates forever!

Ivan Brian, 07 May 2021

No in-depth technical analysis needed here just buy anything and don’t worry about it the Fed is in the market forever. That is the tone of equity markets post a terrible Friday jobs report as yields plunge. CCIV faces some resistance at $20 first before thinking about anything else higher. Chart is still bearish and this may be the case for future session but for now equities are loving zero rates for longer.

CCIV shares continue to retreat as the hype fizzes out of many retail meme stocks while the economy reopens. Traders are no longer confined to their rooms with screens and Robinhood to entertain them. The meme-stock universe is struggling to regain any sort of traction and with multiple ETFs suffering losses, redemptions cannot be too far away. This will put further pressure on the meme-stock segment. Continue reading “Article: CCIV Stock News: Lucid Motors CCIV shares rebound as weak jobs report means low rates forever!”

Article: Disabled San Diego woman targeted in pandemic dating scam, FBI reports thousands of victims in 2020

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Disabled San Diego woman targeted in pandemic dating scam, FBI reports thousands of victims in 2020

Jennifer Kastner, 07 May 2021

SAN DIEGO (KGTV) – More people are turning to the internet to find love during the pandemic, but it can come with a high price.

According to the FTC, $300 million was lost to romance scams during 2020. That’s a 50% increase from the year before.

ABC 10News recently met Margie McLellan at Lake Murray. She’s got a hearing impairment and other physical disabilities. She described her hurt and anger.

“It really hurts. I’m very, very angry and very upset,” she said. Last summer, McLellan joined an online dating platform.

The widow was looking for love during the pandemic when she matched with a profile. ABC 10News is not showing the face, since the real man’s identity was likely stolen.

“She was very excited in the beginning, and I was excited for her but then she became very quiet about the relationship by saying, ‘It’s very private and he doesn’t want me discussing it with anyone,'” said close friend Trish Testa who added that McLellan and the new man never met. They only texted.

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Article: New York Man Pleads Guilty to Fentanyl and Heroin Trafficking

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New York Man Pleads Guilty to Fentanyl and Heroin Trafficking

Department of Justice, 07 May 2021

BOSTON – A New York man pleaded guilty today in federal court in Boston to heroin and fentanyl possession and distribution charges.

James De La Cruz, 30, pleaded guilty to one count of conspiracy to distribute and to possess with intent to distribute one kilogram or more of heroin and 400 grams or more of fentanyl and one count of possession with intent to distribute one kilogram or more of heroin and 400 grams or more of fentanyl. U.S. District Judge Richard G. Stearns scheduled sentencing for Oct. 6, 2021. Continue reading “Article: New York Man Pleads Guilty to Fentanyl and Heroin Trafficking”

Article: Gas Suppliers, Banks Make Billions on Texas Power Crisis

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Gas Suppliers, Banks Make Billions on Texas Power Crisis

Alex Shanahan, Andy Szal, 07 May 2021

Months after the deadly winter storm passed, some companies are starting to detail some significant windfalls. In mid-February, a brutal winter storm swept across Texas and overwhelmed the state’s power grid, knocking out electricity and water to millions for days.

A sudden jump in energy prices hammered utilities, and some customers faced power bills in the thousands of dollars. More than 100 people reportedly died.

The public vented its anger — primarily at executives and lawmakers — and amid that kind of public outcry, it’s easy to see why some companies who may have benefited from the crisis were happy to keep that information under wraps. Some 12 weeks later, however, the details are beginning to seep out. Continue reading “Article: Gas Suppliers, Banks Make Billions on Texas Power Crisis”

Article: SILVER EATS DOUBT FOR BREAKFAST

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SILVER EATS DOUBT FOR BREAKFAST

Korbinian Koller, 07 May 2021

Gaining certainty about a clear picture of the future is getting more complex by the minute. Data arrives of never-seen occurrences that make it seemingly impossible to know how everything will pan out. President Biden demands higher taxation of the rich and a minimum wage of US$15. News about Silver market manipulation introduces fear into this market sector. Janet Yellen spoke of inflation. Many are talking about a possible hyperinflation. Others however are pointing towards the “Japanization” of America. On top, a recent New York Times headline reads: “Reaching herd immunity is unlikely in the U.S.”. All this noise is creating more confusion and pressure instead of clarity. The good news is: You do not need to know how the future unfolds to preserve your wealth. And Silver eats doubt for breakfast. Continue reading “Article: SILVER EATS DOUBT FOR BREAKFAST”

Article: THESE ARE THE TEN BIGGEST BANK FINES OF 2020

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THESE ARE THE TEN BIGGEST BANK FINES OF 2020

ValueWalk, 07 May 2021

Banking regulators around the globe were busy last year despite the Covid-19 pandemic. Like any other year, the regulators imposed heavy fines on banks and financial institutions for a range of indiscretions, including money laundering, tax evasion and market manipulation. It is estimated that total bank fines amounted to more than $14 billion in 2020, with the U.S. accounting for the majority of them with 12 bank fines. Anti-money laundering (AML) breaches were the most common violation last year. Detailed below are the ten biggest bank fines of 2020. Continue reading “Article: THESE ARE THE TEN BIGGEST BANK FINES OF 2020”

Article: Danske Bank Watchdog Calls for EU Debate on Client Secrecy Rules

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Danske Bank Watchdog Calls for EU Debate on Client Secrecy Rules

Frances Schwartzkopff, 07 May 2021

The financial watchdog overseeing Danske Bank A/S says the European Union needs to re-examine the limits of client privacy if it’s serious about fighting money laundering and other forms of financial crime.

Jesper Berg, the director general of the Financial Supervisory Authority in Copenhagen, says Europe must acknowledge that the current bias toward bank secrecy means “substantially more resources” are being spent on trying to catch illicit transactions. It also adds to the risk that there’ll be “some money laundering we won’t get at.” Continue reading “Article: Danske Bank Watchdog Calls for EU Debate on Client Secrecy Rules”

Article: Irvine Man Arrested on Federal Grand Jury Indictment Alleging He Fraudulently Obtained $5 Million in COVID-Relief PPP Loans

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Irvine Man Arrested on Federal Grand Jury Indictment Alleging He Fraudulently Obtained $5 Million in COVID-Relief PPP Loans

Department of Justice, 07 May 2021

SANTA ANA, California – An Orange County man was arrested today on federal charges alleging he fraudulently obtained approximately $5 million in Payment Protection Program (PPP) loans for his sham businesses, then used the money on himself, including purchasing Ferrari, Bentley and Lamborghini sports cars.

Mustafa Qadiri, 38, of Irvine, was named in a federal grand jury indictment returned Wednesday charging him with four counts of bank fraud, four counts of wire fraud, one count of aggravated identity theft, and six counts of money laundering.

Qadiri surrendered to law enforcement this morning and is expected to make his initial appearance this afternoon in United States District Court in Santa Ana. Continue reading “Article: Irvine Man Arrested on Federal Grand Jury Indictment Alleging He Fraudulently Obtained $5 Million in COVID-Relief PPP Loans”

Article: UK Finance, Which?, City of London Police Sign Letter Asking Government to Add Online Scams to “Online Safety” Bill

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UK Finance, Which?, City of London Police Sign Letter Asking Government to Add Online Scams to “Online Safety” Bill

Omar Faridi, 07 May 2021

UK Finance (a trade association for the UK banking and financial services sector that represents around 300 firms in the UK providing credit, banking, markets and payment-related services), Which? (an organization that reviews products and services, so that you “make the best purchase decisions” for your requirements) and City of London Police are among several other organizations that have signed a letter asking the UK government to add online or Internet scams to its latest “Online Safety” bill.

The new “Online Safety” bill will require companies – through the threat of huge fines – to enhance Internet safety in key areas like terrorist content, child sex abuse, hate crimes, cyber-bullying and the circulation of fake or misleading news updates. Continue reading “Article: UK Finance, Which?, City of London Police Sign Letter Asking Government to Add Online Scams to “Online Safety” Bill”

Article: FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments

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FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments

James V. Grimaldi, 06 May 2021

Nearly 18 million fake comments were filed with the Federal Communications Commission over its proposal to scale back internet regulation, fueled by both opponents and supporters of the rule, an investigation by the New York attorney general’s office found.

A report by Attorney General Letitia James’s office highlighted companies that specialize in a little-known influence industry that generates made-up comments and often attaches the names of real people caught up in marketing ploys. The 18 million fake comments represented more than 80% of all public comments filed to the FCC on its net-neutrality proposal four years ago. Continue reading “Article: FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments”

Article: A $953 Million Singapore Fund Ensnared by Alleged Fraud

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A $953 Million Singapore Fund Ensnared by Alleged Fraud

David Ramli, Yoolim Lee, Chanyaporn Chanjaroen and Alfred Cang, 06 May 2021

Technology startup investor Vickers Venture Partners has been caught up in the allegedly fraudulent nickel trading scheme of a Singaporean businessman and his Envy Global Trading, prompting a review by the city-state’s monetary authority.

Vickers would be the highest-profile investor yet to have fallen victim to the suspected $740 million swindle, which Singaporean authorities have said could be the biggest investment fraud the financial hub has ever seen. The alleged mastermind, Ng Yu Zhi, has been charged with a range of suspected crimes from faking the purchase and sale of nickel to falsifying transfers from Citibank and account statements that showed millions in funds. Continue reading “Article: A $953 Million Singapore Fund Ensnared by Alleged Fraud”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?