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US Bank Admits Criminal Failure to Stop Money Laundering to Mexico

insightcrime.org

US Bank Admits Criminal Failure to Stop Money Laundering to Mexico

- A subsidiary of one of the largest banking corporations in the United States has admitted to engaging in criminal behavior by failing to properly investigate tens of millions of dollars in suspicious money transfers to Mexico, highlighting the important role US financial institutions play in laundering money for Latin American criminal organizations. Banamex USA, a subsidiary of the US banking conglomerate Citigroup, accepted responsibility for "criminal violations by willfully failing to maintain an effective anti-money laundering (AML) compliance program

Categories: Business |  Law & Crime | 
Places: Americas |  United States |  Latin America |  Central America |  Mexico | 

Democrats protest Treasury division nominee over missing Trump financial documents

washingtonpost.com

Democrats protest Treasury division nominee over missing Trump financial documents

- Leading Democratic senators are withholding votes for President Trump’s nominee to lead the Treasury Department’s terrorism and financial crimes division to protest the administration not producing records related to their probe of the Trump campaign’s alleged ties to Russian officials. Top Senate Banking Committee Democrat Sherrod Brown (Ohio) and top Senate Intelligence Committee Democrat Mark R. Warner (Va.) complained during a committee confirmation vote for Sigal Mandelker that the administration is being too lackadaisical about producing documents that lawmakers have requested to supplement their probe into Russian meddling in the 2016 elections

Categories: Politics & Government |  Business | 
Places: Americas |  North America |  United States | 

Senate finance can spend more after revenues are bumped up

concordmonitor.com

Senate finance can spend more after revenues are bumped up

- By ALLIE MORRIS Monitor staff After recessing a tense meeting multiple times to meet behind closed doors, the state Senate Ways and Means Committee finally settled on revenue estimates that will let the chamber’s budget writers spend more money than initially expected. In a 3-2 vote, the group endorsed projections that allow the Senate Finance Committee to craft a budget that spends roughly $38 million more than the House proposal and $20 million less than Gov

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Tags: Money |  Finance |  Expenditure |  Money Management | 
Places: Americas |  North America |  United States |  Northeast |  New England |  New Hampshire | 

#BuyTwitter shareholder push fails, but supporters hold out hope

sfgate.com

#BuyTwitter shareholder push fails, but supporters hold out hope

- A proposal meant to push Twitter to explore the possibility of becoming a user-operated cooperative was met with staunch resistance at the company’s annual shareholder meeting Monday, but supporters of the measure still considered it a victory. Preliminary counts of Twitter investors’ ballots indicate that the proposal, which asked investors to back a study on how Twitter might allow its users to buy the company, indicate the measure failed to gain a majority of votes

Categories: Business | 
Tags: Corporate |  Enterprises |  Finance |  Investments |  Investors |  Shareholders | 
Places: Americas |  North America |  United States | 

Diebold Nixdorf partners with and buys stake in mobile applications company

ohio.com

Diebold Nixdorf partners with and buys stake in mobile applications company

- Diebold Nixdorf is investing in and partnering with a mobile technology company, Kony Inc., to offer what the Green ATM maker and financial services/software company calls “white label mobile application solutions.” Diebold Nixdorf said it is buying a minority equity stake in privately held Kony and will have a seat on Kony’s board of directors. Financial terms were not disclosed. The partnership involves a mobile application suite called DN Mobile that is aimed at financial institutions and retailers, Diebold Nixdorf announced Monday

Categories: Business |  Technology | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 

He Saves Fashion Models From Financial Chaos

nytimes.com

He Saves Fashion Models From Financial Chaos

- “You want to stay current and trendy like all the other girls,” Ms. Pring said. “But you know what? I don’t need all that stuff. I can pay down my principal faster with that money.” Mr. Tumminia isn’t someone who hangs around with models and turned it into a business. He attended his first and only runway show last year, at the invitation of Ms

Categories: Business |  Life & Style | 
Tags: Finance |  Fashion |  Beauty |  Men |  Models | 
Places: Americas |  North America |  United States | 

Drones, autonomous vehicles on Echodyne’s radar as it pulls in $29M from investors

seattletimes.com

Drones, autonomous vehicles on Echodyne’s radar as it pulls in $29M from investors

- Bellevue radar startup Echodyne has wrapped up a $29 million investment round, including contributions from previous investors Bill Gates and Paul Allen, to fund continued development of radar for drones and autonomous vehicles. The funding round, the first since a $15 million haul in 2014, was led by Silicon Valley venture capital firm New Enterprise Associates. All of Echodyne’s existing investors, including Gates, Allen’s Vulcan and Seattle-based Madrona Venture group, contributed to the new round, the company said

Categories: Business |  Technology |  Motoring | 
Tags: Finance |  Vehicles |  Investments |  Investors |  Autonomous Vehicles |  Automaton |  Self-Driving |  Drones | 
Places: Americas |  North America |  United States | 

Man pleads not guilty to robbing credit union

siouxcityjournal.com

Man pleads not guilty to robbing credit union

- SIOUX CITY | A Sioux City man has pleaded not guilty to robbing a local credit union earlier this month. Joshua Webbs, 21, entered his written plea Monday in Woodbury County District Court to single counts of first-degree robbery and operating a vehicle without owner's consent. Webbs is accused of robbing the Municipal Credit Union, 103 S. Fairmount St., on May 2

Categories: Business |  Law & Crime | 
Places: Americas |  North America |  United States |  Midwest |  West |  Iowa |  Sioux |  Woodbury | 

Church of England fund becomes top world performer

cnbc.com

Church of England fund becomes top world performer

- The Church of England's £7.9bn investment fund, which has in the past struggled to reconcile questions of morality and mammon, achieved its strongest returns in more than three decades last year, lifting it into the top ranks of the world's best-performing endowment funds. The Church Commissioners annual report discloses total return on assets of 17.1 per cent in 2016, with strong performances from global equities, private equity and timber

Categories: Business |  Religion & Spirituality | 
Places: United States | 

Saudi Arabia’s $20 billion wager with Blackstone is record-sized bet on U.S. infrastructure

marketwatch.com

Saudi Arabia’s $20 billion wager with Blackstone is record-sized bet on U.S. infrastructure

- Saudi Arabia joined the parade of investors into U.S. public works by pledging a record investment with Blackstone Group LP. The country’s Public Investment Fund agreed to commit $20 billion to Blackstone’s new infrastructure fund in the latest push around the world by large investors to buy up airports, pipelines and other public projects, particularly in the U.S. Blackstone said Saturday the kingdom’s money would seed an investment fund that the New York private-equity giant hopes will reach $40 billion and have spending power of up to $100 billion once debt is added to the mix

Categories: Business | 
Tags: Finance |  Investments |  Investors | 
Places: Americas |  North America |  United States |  Asia |  Mideast |  Saudi Arabia |  Northeast |  Atlantic |  New York | 

Kay promoted at Iowa-Nebraska

siouxcityjournal.com

Kay promoted at Iowa-Nebraska

- SOUTH SIOUX CITY -- Kevin Kay has been promoted to senior vice president of operations at Iowa-Nebraska State Bank. Kay has been employed with Iowa-Nebraska State Bank since September 2000 and has more than 25 years of banking/finance experience. His responsibilities include management of the overall operations of the bank including cash management, audit/compliance, oversight of retail banking/lending while also serving on the bank loan committee

Categories: Business | 
Places: Americas |  North America |  United States |  Midwest |  West |  Iowa |  Nebraska |  Sioux |  Woodbury |  Dakota |  South Sioux City | 

Security National Bank hires Basel

siouxcityjournal.com

Security National Bank hires Basel

- SIOUX CITY -- Security National Bank of Sioux City his hired Chad Basel as an employee benefit administrator in the Wealth Management Division. He will be located at the bank’s main office at Sixth and Pierce Street in downtown Sioux City. Basel has more than 16 years of administration, account management, customer service, and group training experience in the retirement industry helping employers and employees invest and save for retirement

Categories: Business | 
Places: Americas |  North America |  United States |  Midwest |  West |  Iowa |  Sioux |  Woodbury | 

Steven Cohen Makes a Comeback at Premier Hedge Fund Conference

cnbc.com

Steven Cohen Makes a Comeback at Premier Hedge Fund Conference

- LAS VEGAS — The billionaire investor Steven A. Cohen may be barred from managing outside money until next year, but he has already hinted that he plans to get back into the hedge game. The most telling sign yet? Mr. Cohen's unexpected appearance at a Las Vegas hedge fund conference this week. Mr. Cohen was seen late Thursday night playing craps at a table in the casino of the Bellagio Las Vegas, one of the city's most extravagant hotels

Categories: Business | 
Places: Americas |  North America |  United States |  West |  Mountain |  Nevada |  Vegas |  Clark | 

Venture capitalist George Zachary thought he had cancer, and from that point he was all biotech

cnbc.com

Venture capitalist George Zachary thought he had cancer, and from that point he was all biotech

- Silicon Valley investor George Zachary has a knack for betting early on Internet successes, with Twitter and Microsoft-owned Yammer among his lucrative wins. But you won't hear the venture capitalist touting those businesses anymore. Not since a doctor gave him the scare of his life. Two years ago, a sudden bout of intense abdominal pains sent Zachary, now 51, to the emergency room at Stanford University Medical Center for some tests and an X-Ray

Categories: Business | 
Places: Americas |  North America |  United States |  West |  Pacific |  California |  North |  Bay Area |  Silicon Valley | 

WannaCry cyber attack compromised some Russian banks: central bank

reuters.com

WannaCry cyber attack compromised some Russian banks: central bank

- MOSCOW The WannaCry ransomware attack compromised the systems of Russian banks in some isolated cases, the Russian central bank said on Friday in the first official acknowledgement by Moscow that the virus had an impact on the country's banking system. In a statement, the central bank said the consequences of the hacking attack - which it did not detail - had been dealt with quickly

Categories: Business |  Technology | 
Places: United States |  Europe |  E. Europe |  Russia |  Central |  Moscow |  Moscow City | 

5 Ways to Take Advantage of Corporate Venture Capital

entrepreneur.com

5 Ways to Take Advantage of Corporate Venture Capital

- Corporate venture funds come in different shapes and sizes, but typically, they are funds affiliated with large companies that are interested in tapping into innovation taking place within particular industries. Loosely referred to as "strategic" investors, they represent a fast-growing segment of the funding market. According to CB Insights, there are nearly 200 active corporate VC funds. In 2015, they invested about $18 billion across 850 companies in the United States alone

Categories: Business | 
Places: Americas |  North America |  United States | 

Green card 'guaranteed' for Journal Square investment: report

nj.com

Green card 'guaranteed' for Journal Square investment: report

- Green cards were "guaranteed" for potential mega-investors in a Kushner project in Jersey City's Journal Square, but the "green'' had nothing to do with solar energy, according to a new report on the project. Rather, it referred to $500,000 from Chinese investors looking to get visas through the controversial EB-5 visa program, The New York Times reports. Potential investors were told it was a virtual certainty to work, the newspaper said, because of the project's ties to President Trump and the first family

Categories: Business | 
Tags: Finance |  Investments |  Investors | 
Places: Americas |  North America |  United States |  Northeast |  Atlantic |  New York | 

Latest Stories

Home / United States / Business / Finance
Moody's downgrades China, warns of eroding financial strength as debt rises
SHANGHAI Moody's Investors Services downgraded China's long-term local and foreign currency issuer ratings on Wednesday, citing expectations that the financial strength of the world's second biggest economy would erode in the coming years. The ratings agency also changed its outlook for China to stable from negative. The downgrade by one notch to an A1 rating from Aa3 comes at a time when the Chinese government is grappling with the challenges of slowing economic growth and rising financial risks stemming from soaring debt   Read More ...
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Obama-era rule on financial advisers to go forward, for now
Obama-era rule on financial advisers to go forward, for now WASHINGTON (AP) — The Trump administration is allowing to go forward an Obama-era rule that puts stricter requirements on professionals who advise retirement savers on their investments. But it's leaving open the possibility that deep changes to the rule will still be made. Wall Street and Republican lawmakers have been pushing against the so-called "fiduciary" rule, which requires that financial pros who charge commissions put their clients' best interests first when advising them on retirement investments   Read More ...
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BRIEF-Crown Point announces operating and financial results for the three months ended March 31
May 23 Crown Point Energy Inc. * Crown Point announces operating and financial results for the three months ended March 31, 2017. * Qtrly funds flow per share - operations $0.00 * Estimates a total of $12.3 million of capital expenditures for 2017. * During Q1 2017, company's average daily sales volumes were 1,200 BOE per day, down 15 pct from 1,412 BOE per day in Q4 2016 Source text for Eikon: Further company coverage: CHICAGO, May 23 Democratic lawmakers in the Illinois Senate on Tuesday voted in favor of a budget and tax package that includes hikes to income and sales taxes in a go-it-alone effort to break the state's long-running budget impasse eight days before the end of the legislative session   Read More ...
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Schrader proposes new financial protection for soldiers, dares banks to object
Schrader proposes new financial protection for soldiers, dares banks to object Motivated by the story of Jacob McGreevey, the longtime Marine who lost his Vancouver home to foreclosure, Rep. Kurt Schrader, D-Oregon, has introduced a bill strengthening active-duty soldiers' protections against banks and other creditors. A New Jersey lender repossessed McGreevey's house in 2010 between his third and fourth tours of duty in the Middle East despite a federal law that prohibits creditors from taking collections actions against active-duty soldiers   Read More ...
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Stocks rise for fourth day in a row, erasing most of last week's decline
Stocks rise for fourth day in a row, erasing most of last week's decline U.S. stocks rose Tuesday for the fourth day in a row as they continued to recover the ground they lost last week. Major indexes approached record highs again. Most of the gains went to banks, which surged as bond yields jumped. Higher bond yields enable banks to charge higher rates on loans. Banks took steep losses last Wednesday, when stocks had their worst day since September   Read More ...
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UPDATE 1-Saudi Aramco plans up to $30 bln investment in Motiva by 2023
(Adds details, background) HOUSTON May 23 Saudi Aramco plans an investment of up to $30 billion in its U.S. subsidiary Motiva Enterprsies LLC, the company said in an announcement at a business summit in Saudi Arabia. The company said that $12 billion would be the initial investment in a project to expand refining capacity at Motiva's Port Arthur, Texas, refinery, already the largest in the United States, and to extend Motiva's operations in the petrochemical value chain, according to a statement about the investment   Read More ...
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Top banks' Q1 commodity revenue slides 29 pct to 11-year low
LONDON May 24 Commodities-related revenue at the 12 biggest investment banks fell 29 percent year-on-year in the first quarter of 2017 to its lowest in more than a decade, mainly due to weakness in the energy sector, a consultancy said on Wednesday. Revenue from commodity trading, selling derivatives to investors and other activities in the sector fell to $800,000 million in the first three months of the year, financial industry analytics firm Coalition said in a report   Read More ...
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Investors are 'profoundly underinvested' in stocks, says Raymond James' Jeffrey Saut
Investors are 'profoundly underinvested' in stocks, says Raymond James' Jeffrey Saut A week-long stock market rally may be underway, but scores of investors may be missing out on it. Raymond James Chief Investment Strategist Jeffrey Saut is out with a note, writing that the first part of the week has the potential to be strongly positive for stocks based on his latest technical models. But there's a problem. The stock market is off to a good start this week   Read More ...
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Tags: Markets |  Stock Markets |  Finance |  Investments |  Investors |  Shares |  Financial Markets | 
Places: Americas |  North America |  United States | 
Asian markets set for higher open; FOMC minutes, OPEC meeting in focus
Asian markets set for higher open; FOMC minutes, OPEC meeting in focus Major indexes in Asia look set to open higher on Wednesday as investors looked ahead to U.S. Federal Reserve views over interest rate hike prospects and await an upcoming OPEC meeting widely expected to extend production cuts for nine months to March 2018.   Read More ...
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Stocks close higher, post 4-day win streak, as investors regain faith in Trump trade
Stocks close higher, post 4-day win streak, as investors regain faith in Trump trade Stocks closed higher on Tuesday as hope around the Trump trade was renewed among investors. The Dow Jones industrial average rose about 45 points higher with Goldman Sachs contributing the most gains. The S&P 500 also ended higher and nearly erased the losses suffered from the biggest sell-off of the year. The index rose 0.2 percent to come about 2 points of closing above the Tuesday, May 16, close of 2,400   Read More ...
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Intel and major banks, including HSBC and BOAML, pour $107 million into blockchain group
Intel and major banks, including HSBC and BOAML, pour $107 million into blockchain group Intel, Bank of America Merrill Lynch, HSBC and dozens of other institutions have invested $107 million into R3, a group developing blockchain-like technology for financial companies. R3 is a group of major banks that are working together to bring so-called distributed ledger technology to their processes. It's based on blockchain – the technology that underpins the cryptocurrency bitcoin. Blockchain technology allows transactions on the bitcoin network to be recorded and not tampered with   Read More ...
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Winning! Investing costs have never been this cheap
Winning! Investing costs have never been this cheap Investors are paying the lowest fees ever for funds in which they invest, a testament to the growing universe of lower-cost alternatives. The average expense ratio paid by investors — operating expenses divided by assets — in 2016 fell to 0.57 percent, down from 0.61 percent in 2015 and 0.65 percent in 2014, according to a study released Tuesday by Morningstar   Read More ...
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The energy lag and tech technicals: Here’s what could drive markets on Wednesday
The energy lag and tech technicals: Here’s what could drive markets on Wednesday As OPEC members are set to convene later this week, WTI crude oil ekes above $50 per barrel and investors pile into bets on the euro, Miller Tabak equity strategist Matt Maley highlights three key themes for Wednesday and the week ahead. 1. The crude oil/energy stocks relationship. Crude oil rose to a five-week high in Tuesday trading as investors await news from this Thursday's meeting of OPEC members   Read More ...
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Fed's Harker: Rate hike in June 'a distinct possibility'
Fed's Harker: Rate hike in June 'a distinct possibility' An interest rate hike next month is a "distinct possibility," the head of the Federal Reserve Bank of Philadelphia said on Tuesday, adding that another disappointing reading on monthly inflation could cause the central bank to hold back. "I think June's a distinct possibility ... quite possible," Patrick Harker told reporters. But "if we get another surprise on inflation to the downside, that would worry me a little," he said when asked what might delay that policy tightening   Read More ...
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Trump’s budget could make it harder to investigate banks that received taxpayer bailouts
Trump’s budget could make it harder to investigate banks that received taxpayer bailouts President Trump's 2018 budget proposal released Tuesday would dramatically cut funding for a small government agency that has built a track record for sending bankers to prison. The agency, the Office of the Special Inspector General for the Troubled Asset Relief Program, was established to monitor the $700 billion taxpayer bailout effort following the 2008 financial crisis. In the years since, it has charged 96 bankers from across the country with a crime and sent at least 36 to prison   Read More ...
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Fed wants to make shrinking its balance sheet as exciting as watching paint dry, Harker says
Fed wants to make shrinking its balance sheet as exciting as watching paint dry, Harker says The Federal Reserve wants to go back to being boring, a top central banker said Tuesday. Philadelphia Fed President Patrick Harker says he longs for the day when people at dinner parties try to avoid getting stuck next to him. And he said the central bank intends to be boring as it shrinks its balance sheet. In a speech to an MNI conference in New York, Harker said the central bank intends to make shrinking its balance sheet about as boring as “watching paint dry   Read More ...
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US Bank Admits Criminal Failure to Stop Money Laundering to Mexico
US Bank Admits Criminal Failure to Stop Money Laundering to Mexico A subsidiary of one of the largest banking corporations in the United States has admitted to engaging in criminal behavior by failing to properly investigate tens of millions of dollars in suspicious money transfers to Mexico, highlighting the important role US financial institutions play in laundering money for Latin American criminal organizations. Banamex USA, a subsidiary of the US banking conglomerate Citigroup, accepted responsibility for "criminal violations by willfully failing to maintain an effective anti-money laundering (AML) compliance program   Read More ...
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Places: Americas |  United States |  Latin America |  Central America |  Mexico | 
After Complaints, Fannie Mae Will Stop Selling Homes to Vision Property
One of the biggest firms in the rent-to-own home business is now on the federal government’s do-not-sell list. Fannie Mae, the government-controlled mortgage finance giant, said on Tuesday that it had stopped selling properties to the firm, Vision Property Management, after conducting a review of the firm’s rent-to-own program, which operates in more than a dozen states. The mortgage finance company will also impose restrictions on future sales of foreclosed homes to firms that engage in abusive forms of seller financing — which includes selling homes on either rent-to-own leases or in long-term installment agreements known as contract for deed   Read More ...
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BRIEF-Home Capital provides update on liquidity and deposits
May 23 Home Capital Group Inc. * Home capital provides update on liquidity and deposits. * Home capital group inc - gics in a cashable position $144 million as of may 22. * Home capital group inc - as of may 22, hisa deposit balances stood at about $115.0 million. * Home capital group inc - aggregate available liquidity and credit capacity of approximately $1   Read More ...
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Tags: Finance |  Liquidity | 
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BRIEF-Skeena announces marketed private placement of about C$5 mln
May 23 Skeena Resources Ltd. * Skeena announces marketed private placement of approximately c$5,000,000. * Skeena resources ltd - net proceeds of offering will be used to fund advancement of company's snip project Source text for Eikon: Further company coverage: WASHINGTON, May 23 While U.S. President Donald Trump's budget proposal for national defense increases spending, it falls short of campaign promises to rebuild the Navy and a "historic" increase in military spending   Read More ...
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US stocks gain again with banks leading
NEW YORK (AFP) - Wall Street stocks finished higher for the fourth straight session on Tuesday (May 23), with banking shares leading the way. Large US banks such as JPMorgan Chase, Citigroup and Goldman Sachs, advanced more than 1 per cent. The latest gains mean the major US stock indices are back to near their levels prior to a tumble on May 17 sparked by worries over President Donald Trump's agenda following a series of missteps and controversies   Read More ...
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Fake SD investor who scammed $4.2 million from residents sent to prison
Fake SD investor who scammed $4.2 million from residents sent to prison FCCNN. RAPID CITY, S.D.—A 68-year-old former South Dakota investment adviser who received a total of $4.2 million from clients and said he was investing the money, instead was putting it in   Read More ...
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Stocks claw back more lost ground with 4th straight gain
Stocks claw back more lost ground with 4th straight gain NEW YORK (AP) — U.S. stocks rose for the fourth day in a row Tuesday as they continued to recover the ground they lost last week. Major indexes approached record highs again. Most of the gains went to banks, which surged as bond yields jumped. That will allow them to charge higher rates on loans. Banks took steep losses last Wednesday, when stocks had their worst day since September   Read More ...
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BRIEF-Nevada Copper reports private placement with Pala Investments
May 23 Nevada Copper Corp: * Nevada Copper announces private placement with Pala Investments and appointment of independent non-executive director. * Nevada Copper Corp - issued 3.7 million common shares of nevada copper to pala at a subscription price of cdn.$0.66 per common share. * Nevada Copper Corp - proceeds from private placement will be used to fund evaluation of various project development options at Pumpkin Hollow Source text for Eikon: Further company coverage: * CDW Corp -on May 19, 2017, SEC staff informed company that SEC has concluded its investigation and does not intend to recommend an enforcement action   Read More ...
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Markets Right Now: US stocks post their 4th gain in a row
The latest on developments in financial markets (All times local): Stocks clawed back more of the ground they lost last week and posted their fourth gain in a row. Banks and health care stocks rose more than the rest of the market Tuesday. Banks were benefiting from higher bond yields, which allow them to charge higher rates on loans. Regions Financial rose 2   Read More ...
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Federal court will hear arguments on whether the structure of CFPB is constitutional
Federal court will hear arguments on whether the structure of CFPB is constitutional A federal court will hear oral arguments Wednesday for a case that could have broad implications for the future of the Consumer Financial Protection Bureau at a time when the watchdog is facing intense scrutiny from Republicans and financial groups that want to defang the agency. One key question that could be addressed by the panel of 11 judges in the U   Read More ...
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Obama-era rule on financial advisers to go forward, for now
The Trump administration is allowing to go forward an Obama-era rule putting stricter requirements on professionals who advise retirement savers on their investments.   Read More ...
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Tags: Finance | 
Places: Americas |  North America |  United States | 
GE’s clean-power deals top $15 billion
GE’s clean-power deals top $15 billion Wind, solar, and other renewable-energy projects at General Electric Co.’s energy financing unit have topped $15 billion worldwide, the company said Tuesday. The investments by GE Energy Financial Services, a General Electric subsidiary, included backing for several U.S. wind farms, including the country’s first commercial offshore wind farm, Block Island in Rhode Island. Renewables is GE Energy Financial Services’ fastest growing business segment   Read More ...
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Places: Americas |  North America |  United States | 
Democrats protest Treasury division nominee over missing Trump financial documents
Democrats protest Treasury division nominee over missing Trump financial documents Leading Democratic senators are withholding votes for President Trump’s nominee to lead the Treasury Department’s terrorism and financial crimes division to protest the administration not producing records related to their probe of the Trump campaign’s alleged ties to Russian officials. Top Senate Banking Committee Democrat Sherrod Brown (Ohio) and top Senate Intelligence Committee Democrat Mark R. Warner (Va.) complained during a committee confirmation vote for Sigal Mandelker that the administration is being too lackadaisical about producing documents that lawmakers have requested to supplement their probe into Russian meddling in the 2016 elections   Read More ...
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Trump budget to increase growth by boosting investment, labor force: Mnuchin
Trump budget to increase growth by boosting investment, labor force: Mnuchin WASHINGTON The Trump administration believes its budget plan will boost economic growth by fostering capital investment and creating jobs for workers who gave up their job hunts during tough times, Treasury Secretary Steven Mnuchin said on Tuesday. "One component of this is making sure we can create jobs for people who want jobs and will come back into the workforce," Mnuchin said at an event on fiscal policy   Read More ...
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MIDEAST STOCKS-Egypt rebounds after tumble on rates, Gulf swept by profit-taking
* Egyptian importers, banks may benefit from rate hike. * Ezz steel climbs after annual earnings. * Saudi dragged lower before Ramadan. * Dubai's DFM, DXBE hit by Q2 revenue worries. * MSCI banking shares outperform in Qatar. By Celine Aswad. DUBAI, May 23 Egypt's stock market on Tuesday recovered some of the previous day's heavy losses while Gulf bourses were weaker as investors booked profits ahead of the holy month of Ramadan, when trading volumes and liquidity often decrease   Read More ...
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Places: Africa |  N Africa |  Egypt |  United States |  Asia |  Mideast | 
Frugal retirees ditch 4% rule, hoard savings instead
Frugal retirees ditch 4% rule, hoard savings instead Retirees may be overly pessimistic about their future financial health and that may lead them to spend less than they could otherwise, according to a new study by United Income, a startup that aims to apply big-data analysis to financial planning. The average adult 60 years or older will trim their spending by about 2.5 percent every year, or by about 20 percent over a 10-year period, according to United Income's analysis   Read More ...
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Tags: Money |  Finance |  Expenditure |  Savings |  Money Management | 
Places: Americas |  North America |  United States | 
BRIEF-Riocan REIT announces firm agreement at Sunnybrook Plaza with Concert Real Estate Corporation
May 23 Riocan Real Estate Investment Trust : * Riocan REIT announces firm agreement at Sunnybrook Plaza with Concert Real Estate Corporation. * Riocan Real Estate Investment Trust - announce signing of firm agreement on May 17, 2017, with Riocan selling a 50pct interest in Sunnybrook Plaza at price of $26.3 million. * Riocan Real Estate Investment Trust - partners will share in development costs on a 50/50 basis with transaction set to close in June 2017   Read More ...
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Tags: Corporate |  Companies |  Enterprises |  Finance |  Investments | 
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BRIEF-Enpar Technologies announces private placement of $1.5 mln
May 23 Enpar Technologies Inc: * Enpar Technologies Inc: private placement of $1,500,000. * Enpar Technologies Inc says proceeds of this offering will be used for marketing and manufacturing initiatives, and for general working capital Source text for Eikon: Further company coverage: * Idexx Laboratories director William End reports sale of 5,000 shares of co's common stock on May 22 at average price of $162   Read More ...
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Places: Americas |  North America |  United States | 
China to open more sectors to foreign investors
China to open more sectors to foreign investors BEIJING China will further open its economy to foreign investors, through measures such as allowing investment in more industries, such as services, state television said on Tuesday, citing a reform group meeting chaired by President Xi Jinping. China will also step up regulation of overseas business operations of Chinese companies and will set up a system to track individual income and property information, the group said   Read More ...
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Tags: Economy |  Finance |  Sectors |  Economics |  Investments |  Investors |  Foreign investors | 
Places: United States |  North |  Beijing | 
BRIEF-Stamper Oil & Gas announces non-brokered private placement
May 23 Stamper Oil & Gas Corp : * Stamper oil & gas announces non-brokered private placement. * Non-Brokered private placement financing of approximately 1,250,000 units at a price of c$0.40 per units. * Each common unit will consist of one 1 common share in capital of company and one 1 common share purchase warrant Source text for Eikon: Further company coverage: * IMF needs more realism from euro zone on Greece, official says   Read More ...
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Places: United States | 
Senate finance can spend more after revenues are bumped up
Senate finance can spend more after revenues are bumped up By ALLIE MORRIS Monitor staff After recessing a tense meeting multiple times to meet behind closed doors, the state Senate Ways and Means Committee finally settled on revenue estimates that will let the chamber’s budget writers spend more money than initially expected. In a 3-2 vote, the group endorsed projections that allow the Senate Finance Committee to craft a budget that spends roughly $38 million more than the House proposal and $20 million less than Gov   Read More ...
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Places: Americas |  North America |  United States |  Northeast |  New England |  New Hampshire | 
City Council members press finance officials to reveal mystery business that received $3M tax refund
City Council members press finance officials to reveal mystery business that received $3M tax refund Several Richmond City Council members made it clear Monday that they want city finance officials to reveal the name of a mystery business that received a $3 million tax refund in March. The payment included $475,000 in interest doled out at taxpayer expense despite the fact that the refund was a result of the company overpaying its taxes based on self-reported revenues   Read More ...
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Tags: Taxes |  Finance |  Taxation | 
Places: Americas |  North America |  United States | 
ND bank regulator to retire, governor announces
ND bank regulator to retire, governor announces Entringer, who was appointed to his post in January 2011 by then-Gov. Jack Dalrymple, will retire Nov. 30 after 35 years with the department. Burgum called Entringer a "fair regulator who provides consistently sound oversight of our state-chartered banks, credit unions and other financial services providers." Entringer, a Bismarck native, said it was an honor to serve the state. "I believe our agency has been a regulator and a partner to the entities we oversee," he said in a statement   Read More ...
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ND bank regulator to retire, governor announces
ND bank regulator to retire, governor announces Entringer, who was appointed to his post in January 2011 by then-Gov. Jack Dalrymple, will retire Nov. 30 after 35 years with the department. Burgum called Entringer a "fair regulator who provides consistently sound oversight of our state-chartered banks, credit unions and other financial services providers." Entringer, a Bismarck native, said it was an honor to serve the state. "I believe our agency has been a regulator and a partner to the entities we oversee," he said in a statement   Read More ...
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