WASHINGTON (Reuters) – The U.S. Department of Justice on Wednesday said it was looking to recover another $96 million in assets in real estate and artwork linked to the 1Malaysia Development Berhad (1MDB) international money-laundering conspiracy. The assets include luxury real estate in Paris and paintings by Claude Monet and Andy Warhol linked to the […]

WASHINGTON (Reuters) – President Donald Trump on Wednesday indicated he was warming to Federal Reserve Chairman Jerome Powell, whom he has harshly criticized for not cutting lending rates below zero, telling Fox Business Network he appreciated the central bank putting liquidity into the economy during the coronavirus pandemic. “I would say that I was not […]

(Reuters) – The S&P 500 and Nasdaq rose on Wednesday as rising hopes of a COVID-19 vaccine offset fears of another round of lockdowns following a record surge in coronavirus cases in the United States. A COVID-19 vaccine developed by Pfizer Inc and German biotech firm BioNTech showed promise and was found to be well […]

(Reuters) – The S&P 500 and Nasdaq rose on Wednesday as rising hopes of a COVID-19 vaccine offset fears of another round of lockdowns following a record surge in coronavirus cases in the United States. A COVID-19 vaccine developed by Pfizer Inc and German biotech firm BioNTech showed promise and was found to be well […]

BERLIN (Reuters) – German prosecutors have extended their diesel emissions probe to include auto supplier Continental (CONG.DE) for its role in supplying engine components, searching the company’s offices and those of automaker Volkswagen, the companies said on Wednesday. Prosecutors in Hanover, Germany conducted the searches as part of an investigation into how a 1.6 litre […]

Police and prosecutors have raided the headquarters of beleaguered payments firm Wirecard as part of a fraud investigation relating to its £1.7bn accounting black hole. Officials from Munich carried out searches at four other properties in connection with the company’s activities, according to prosecutors. They told Reuters they were investigating three other members of the […]

LONDON (Reuters) – Property reinsurance rates in the United States rose as high as 30% during renewals in June and July, following years of heavy natural catastrophe losses, data from broker Willis showed on Wednesday. Rates in the hurricane-prone Florida region, rose by as much as 35%, it added. Source: Read Full Article

WASHINGTON (Reuters) – The U.S. Senate unanimously voted on Tuesday to extend a $660 billion lending program in an effort to help small businesses that have been hit hard by the coronavirus, extending a lifeline just as it was due to expire. The Democratic-controlled House of Representatives must also approve the extension, which would keep […]

WASHINGTON/SEATTLE/CHICAGO (Reuters) – Boeing Co (BA.N) failed to submit certification documents to the U.S. Federal Aviation Administration (FAA) detailing changes to a key flight control system faulted in two fatal crashes, a long-awaited government report seen by Reuters has found. The flight control system, known as MCAS, was “not an area of emphasis” because Boeing […]

NEW YORK (BLOOMBERG) – Two decades of financial disasters from Enron’s collapse in 2001 to Wirecard’s meltdown have left the Big Four accounting firms facing a major cultural problem that regulators may struggle to resolve. The 1.9 billion euros (S$3 billion) missing from Wirecard’s balance sheet brought the chief executive officer’s arrest, the German payments […]