Article: Economic Watch: China tightens crackdown on capital market violations

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Economic Watch: China tightens crackdown on capital market violations

Xinhua, 07 July 2021

BEIJING, July 7 (Xinhua) — China has tightened crackdown on illegal activities in the securities market to promote the high-quality development of the country’s capital market.

Efforts to improve the securities legislation mechanism will be enhanced, and criminal punishment and market discipline will be strengthened, according to an official document jointly issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council. Continue reading “Article: Economic Watch: China tightens crackdown on capital market violations”

Article: Man sentenced to more than 3 decades for murder over black market marijuana scheme

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Man sentenced to more than 3 decades for murder over black market marijuana scheme

Pamela Comme, 07 July 2021

CASTLE ROCK, Colo. — Dominique Wogan, 35, was sentenced to 36 years in prison after shooting and killing his partner in a black-partner marijuana scheme, according to the 18th Judicial District Attorney’s office.

The DA’s office said Wogan will be serving his time in the Colorado Department of Corrections for the murder of Fletcher Bodnar. Continue reading “Article: Man sentenced to more than 3 decades for murder over black market marijuana scheme”

Article: fidomoney Launches in the UK

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fidomoney Launches in the UK

PRNewswire, 07 July 2021

YORK, England, July 7, 2021 /PRNewswire/ — fidomoney, an innovative fintech company offering bespoke business current accounts, has launched in the UK. The intelligent, tailor-made solutions fidomoney offer are based around the start-ups and small businesses it serves. fidomoney recognises the individuality of its customers and offers business current accounts with all the additional payment services businesses need – a business simply chooses what works for them and only pays for what it uses. Continue reading “Article: fidomoney Launches in the UK”

Article: Interpol issues red notice for Guptas and associates

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Didi Loses $22 Billion in Market Cap After China Crackdown

Divya Balji and Filipe Pacheco, 06 July 2021

Didi Global Inc. plunged in premarket trading after a Chinese regulator ordered the removal of the company’s platform from app stores, days after a $4.4 billion initial public offering in the U.S.

Shares of the China-based tech firm fell as much as 30% to $10.90, wiping out about $22 billion of market value and taking the stock below the $14 IPO price. They traded at $12.17 as of 6 a.m. in New York. Continue reading “Article: Interpol issues red notice for Guptas and associates”

Article: Ex-Banker Who Challenged Belarus Ruler Gets 14 Years in Jail

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Ex-Banker Who Challenged Belarus Ruler Gets 14 Years in Jail

Aliaksandr Kudrytski, 06 July 2021

Belarus’s Supreme Court sentenced the former head of a Kremlin-controlled bank who sought to challenge President Alexander Lukashenko in last year’s elections to 14 years in jail, as the longtime ruler continues a sweeping crackdown on opponents.

The court in the capital, Minsk, convicted Viktor Babariko and imposed fines totaling more than $18 million, his press service said Tuesday. The ex-CEO of Belgazprombank faced charges of bribery, conspiracy and money-laundering, which he denies. His son Eduard and members of his campaign team remain in prison awaiting trial. Continue reading “Article: Ex-Banker Who Challenged Belarus Ruler Gets 14 Years in Jail”

Article: Gamestop – Exchange leaders say GameStop saga highlights regulatory challenges

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Gamestop – Exchange leaders say GameStop saga highlights regulatory challenges

ALEX LOWE, 06 July 2021

NEW YORK (Reuters) – The recent trading frenzy around GameStop Corp and other so-called “meme” stocks highlights shortcomings and challenges in the U.S. markets as retail investors become a bigger presence, exchange leaders said on Tuesday.

“The regulatory structure of the U.S. equity markets, in my mind, is flawed,” Jeff Sprecher, chief executive of New York Stock Exchange owner Intercontinental Exchange Inc, said on a panel at the Future Industry Association’s virtual FIA Boca conference. Continue reading “Article: Gamestop – Exchange leaders say GameStop saga highlights regulatory challenges”

Article: Interpol issues red notice for Guptas and associates

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Interpol issues red notice for Guptas and associates

Jeanette Chabalala, 05 July 2021

Interpol has issued red notices for the Gupta family, according to the National Prosecuting Authority’s Investigative Directorate (ID). In a statement on Monday, advocate Hermione Cronje said efforts to bring back the Guptas had intensified.

“Interpol has issued red notices against: Atul Gupta and his wife, Chetali; Rajesh Gupta and his wife, Arti; Ankit Jain, former Nulane Investment Bank of Baroda account signatory; Ravindra Nath, director of Wone Management (Pty) Ltd; Ramesh Bhat and Jagdish Parekh, the directors of Pragat Investments (Pty) Ltd.” Continue reading “Article: Interpol issues red notice for Guptas and associates”

Article: Coupang faces probe over alleged manipulation of search algorithms

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Coupang faces probe over alleged manipulation of search algorithms

julesmenten, 05 July 2021

According to industry figures with research knowledge, South Korea’s Coupang is being investigated for allegations that it has manipulated search algorithms to prioritize its products over its suppliers’ products.

The Korea Fair Trade Commission conducted an on-the-spot inspection last month at the headquarters of an e-commerce group in Seoul after being accused of abusing market dominance by increasing exposure to its own branded products rather than third parties. went. Continue reading “Article: Coupang faces probe over alleged manipulation of search algorithms”

Article: DeFi May Not Herald Independence Day From Traditional Banking

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DeFi May Not Herald Independence Day From Traditional Banking

PYMNTS, 05 July 2021

Independence Day weekend brings to mind freedom, of course. And before too long, we may have independence from the banks, from the third parties, and from the financial system itself. Or maybe not.

The promise of decentralized finance (DeFi) is that the advent of cryptocurrencies, and perhaps more significantly, blockchain, will eliminate the reliance on the traditional players in financial services. Continue reading “Article: DeFi May Not Herald Independence Day From Traditional Banking”

Article: Are Power Companies Playing Texas Hold’em?

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Are Power Companies Playing Texas Hold’em?

Jinjoo Lee, 05 July 2021

It isn’t even close to the peak of Texas’s sizzling summer season and already the state’s power grid has given out two warnings of tight conditions after a higher-than-usual volume of plants went offline. Wear and tear from the February winter storm is one possible explanation; market manipulation is another. They aren’t mutually exclusive.

Warm weather and low wind output played a role, but what was surprising about the alerts—one in April, the other in June—was the number of power plants that were offline at the same time. On June 14, the Electricity Reliability Council of Texas, the state’s grid operator, said some 11 gigawatts of generation (roughly 15% of that day’s peak load forecast and enough to power 2.2 million homes in the summer) was on forced outage for repairs. In April, Ercot had said roughly 33 GW of generation was out of service for maintenance. Of course, that isn’t entirely surprising after the February disaster that strained the entire system and left millions without power. Continue reading “Article: Are Power Companies Playing Texas Hold’em?”

Article: Companies House: ‘Enabler of illegal activity’

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Companies House: ‘Enabler of illegal activity’

Sarah Wood, 05 July 2021

Many of us routinely use Companies House to check the legitimacy of a business, yet an investigation by The Sunday Times has shown it may not be a reliable source of information.

Every UK business has to be registered with Companies House, but the investigation has revealed that the organisation carries out only basic checks on the information it is given and has no statutory power to verify the accuracy of the information it receives. As a result of the limited checks, UK companies registered with Companies House are involved in money laundering on an industrial scale. Continue reading “Article: Companies House: ‘Enabler of illegal activity’”

Article: Silver Lake AMC Bond Theory Falls Short, but Still Benefits Shareholders

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Silver Lake AMC Bond Theory Falls Short, but Still Benefits Shareholders

Tim Fries, 05 July 2021

Amid heightened margin trading requirements and greater scrutiny on GME/AMC stocks, investors continue to look under every rock for signs of institutional trickery. A theory which was notably gaining attention by retail investors stemming from a recent AMC filing and Silver Lake’s convertible notes was believed to have larger implications than what is now known.

Silver Lake’s AMC Bonds Explained
For the last couple of days, retail investors that comprise the so-called ‘meme’ stock circle of social media have been abuzz with the #AMCBonds hashtag. Although worrying at first, it didn’t quite pan out as vigilant retail traders first framed it. Continue reading “Article: Silver Lake AMC Bond Theory Falls Short, but Still Benefits Shareholders”

Article: Gamestop – AMC, other ‘meme’ stocks jump; regulator signals concern

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Gamestop – AMC, other ‘meme’ stocks jump; regulator signals concern

ALEX LOWE, 04 July 2021

Shares of AMC Entertainment Holdings Inc (AMC.N) and other “meme stocks” jumped on Monday, extending a rally in social-media favorites into a third week as message boards hummed with talk of squeezing Wall Street short-sellers.

The sharp gains prompted the U.S. Securities and Exchange Commission to say it was looking into signs of market manipulation given the “volatility in certain stocks.” The volatility has challenged analysts, and two of them in the past week have stopped covering video game retailer GameStop, whose shares soared in January in a retail-driven rally. Continue reading “Article: Gamestop – AMC, other ‘meme’ stocks jump; regulator signals concern”