Tag: crime
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Senator Elizabeth Warren is calling for an independent inquiry into the Fed’s banking regulations
Published: March 19, 2023 at 7:05 PM ET Senator Elizabeth Warren is calling for an independent investigation into the Federal Reserve and “the entire regulatory system” following the banking sector’s worst crisis in more than a decade. On Sunday, the Massachusetts Democrat told ABC News’ This Week that the chaos of the past few weeks […]
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Organized crime plagues retailers and stimulates discussion
America’s largest retailers say organized retail crime has become a multi-billion dollar problem, but the effectiveness of their strategies to solve it and the validity of the data in general have been questioned. In recent years, companies such as Home Depot, Lowe’s, Walmart, Best Buy, Walgreens and CVS have sounded the alarm about organized gangs […]
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SVB Financial Files for Chapter 11 Bankruptcy Protection
Silicon Valley Bank’s parent company filed for bankruptcy, facilitating the sale of its remaining assets after the technology-focused bank at its core was seized by federal regulators. SVB Financial Group filed for Chapter 11 protection in New York bankruptcy court on Friday, the largest bankruptcy filing due to a bank failure since Washington Mutual Inc. […]
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Department of Justice, SEC investigates Silicon Valley Bank collapse
WASHINGTON — The Justice Department and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank, according to people familiar with the matter, after the California lender was taken over by regulators last week amid a historic run on its deposits. The individual probes are in the preliminary phase and should not […]
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Uber, Lyft win as California court upholds right to treat drivers like contractors
Uber Technologies Inc., UBER -0.93% Lyft Inc. LYFT -2.87% and other companies won a California court ruling that maintains their model of independent contractors in the state and could boost their efforts to maintain that model elsewhere. A state appeals court said workers should continue to be treated as independent contractors under a California ballot […]
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Ericsson fined $206 million for violating Justice Department bribery agreement
Photo: Mark Schiefelbein (AP) Swedish multinational technology giant Ericssond guilty this week of bribery and agreed to pay Department of Justice $206 million dollars. Federal prosecutors accused Ericson’s endearing in a longrunning an international corruption scheme that involved bribing and falsifying government officials defeated, and failure to enter proper account controls. Ericsson had a chance […]
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Ericsson to pay $206 million fine, plead guilty to bribery violations
Ericsson recently announced it plans to cut 8,500 jobs as part of its cost-cutting measures. Nurphoto | Nurphoto | Getty Images Swedish telecommunications giant Ericsson agreed to pay a $206 million fine and pleaded guilty to violating the anti-bribery provisions of the Foreign Corrupt Practices Act, or FCPA, US prosecutors announced Thursday evening. Ericsson had […]