Securities misconduct in Canada has risen sharply as perpetrators attempted to capitalize on pandemic-driven uncertainties, while social media frenzy surrounding certain stocks and cryptocurrencies also opened the door to more wrongdoing, regulators said on Tuesday. Regulators started enforcement action against 13 individuals or companies for insider trading in the fiscal year ended March 31, versus just one in 2020; 49 parties for illegal distribution of securities, compared with 20; and against 27 respondents for misconduct, including violations of securities laws, from four the prior year, the Canadian Securities Administrators (CSA) said in a report. "The COVID-19 climate created opportunities for wrongdoers, and so there was a lot of work from the CSA in the spring and summer of last year to take action," said CSA Chair Louis Morisset.
Current and former executives at two French technology companies have been charged with complicity in torture for selling surveillance equipment to Libya and Egypt that was used to track down opponents, who were then detained and tortured. Investigating magistrates in the war crimes unit of the Paris tribunal have charged the former chief of Amesys, Philippe Vannier, and three current and former executives of Nexa Technologies, with "complicity in acts of torture”, according to the International
Leaders of environmental and labor groups - two of President Joe Biden's biggest supporters - urged the White House and Democratic congressional leaders on Tuesday to reject any bipartisan infrastructure deal that lacks strong provisions to tackle climate change and strengthen unions. The BlueGreen Alliance, whose partners include some of the country's biggest environmental groups and labor unions, said in a letter its members were "troubled by recent proposals" that are "watered down." It called on Democrats to strive for an infrastructure package that captures the main elements of Biden's proposed $1.7 trillion package.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.U.K. government borrowing is running well below levels seen at the height of the coronavirus pandemic as the economy emerges from lockdown and people shift from benefits to work.The budget deficit stood at 24.3 billion pounds ($33.8 billion) in May compared with 43.8 billion pounds in the same month of 2020, the Office for National Statistics said Tuesday. The shortfall was below the 25
LATHAM, N.Y. (AP) _ Plug Power Inc. (PLUG) on Tuesday reported a loss of $60.7 million in its first quarter. The Latham, New York-based company said it had a loss of 12 cents per share. The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share. The alternative energy company posted revenue of $72 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $68
LOS ANGELES (AP) _ Korn/Ferry International (KFY) on Tuesday reported fiscal fourth-quarter net income of $66.2 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Los Angeles-based company said it had net income of $1.21. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share. The staffing company posted revenue of $557.4 million in the period. Its
The U.S. consumer watchdog in coming weeks will adopt a rule requiring mortgage servicers to give struggling homeowners until next year to resume repayments, but is expected to carve out some groups of borrowers following industry pushback, four people with knowledge of the matter told Reuters. The Consumer Financial Protection Bureau (CFPB) in April proposed, among other measures, a new review process that would generally prohibit mortgage servicers from starting a foreclosure until after Dec. 31, 2021. The rule will throw a lifeline to hundreds of thousands of homeowners due to exit COVID-19 mortgage holiday or "forbearance" programs in coming months.
Warner TV, the French pay-TV channel launched by WarnerMedia, is teaming with Mediawan Group’s MakingProd for its first French original TV series, “Visitors,” a fantasy comedy by Simon Astier (“Zero Corp,” “Mortel”). The eight-part half-hour series was created, written and is being directed by Astier, whose fanboy profile and graphic universe seem to be the […]
Should you take money advice from a stranger on the internet? In Reddit’s r/personalfinance channel, anonymous users exchange tips on buying homes, choosing insurance plans and managing very personal, nuanced money situations. (Think: “How do I handle my dying dad’s debts?”) “It’s like crowdsourcing financial advice,” says Dana Eble , a public relations specialist based in Detroit, who regularly browses r/personalfinance. If you’re not a “Redditor” like Eble, think of the site like an old-school
U.S. President Joe Biden needs to do more to secure voting rights for Black Americans, said activists traveling through the South to commmemorate the historic 'Freedom Riders'. "I am hoping that we will see the same kind of tenacity, commitment, and passion around protecting the civil rights of Black voters as we've seen with other policies," LaTosha Brown, co-founder of Black Voters Matter, which organized the tour, told Reuters from Atlanta on Monday. Dozens of civil rights activists are traveling on five customized buses from Jackson, Mississippi to Washington D.C. this week, to mark the 60th anniversary of the historic protest against segregated bus terminals in the south, and push for voting rights legislation.
China's Full Truck Alliance Co Ltd raised nearly $1.6 billion through a U.S. initial public offering on Tuesday, giving it a valuation of around $20.6 billion and marking another high-profile Chinese float in New York this year. The trucking startup, which styles itself as the "Uber for trucks," sold 82.5 million American depositary shares (ADS) at $19 per ADS, the upper end of its target range of $17 and $19 per ADS. Backed by high-profile investors such as SoftBank's Vision Fund and Tencent Holdings, the company runs a mobile app that connects truck drivers to people that need to ship items within China.