Business and Finance

[colabot8] The Commodity Futures and Trading Commission has filed a complaint against crypto exchange Binance, its co-founder, Changpeng Zhao, and its former compliance officer, Samuel Lim, alleging that Binance was actively soliciting US users and subverting the “program of ineffective compliance” of the exchange. according to a filing in federal court in Illinois on Monday. …

Binance and CZ violated compliance rules to solicit US users Read More »

[colabot8] An influential consultant for Amazon Sellers admitted on Monday that they bribed employees of the e-commerce giant for information to help its customers boost sales and get their suspended accounts reinstated. Ephraim “Ed” Rosenberg wrote in a LinkedIn post that he would plead guilty in federal court to a criminal charge, stemming from a …

Amazon sales consultant admits bribing employees to help customers Read More »

[colabot8] Confetti falls as Lyft CEO Logan Green (C) and Chairman John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. Shares of the ride-hailing app company were initially priced at $72. Mario Tama/Getty Images Lyftco-founders, CEO Logan Green and Chairman …

Lyft CEO, chairman resigns, ex-Amazon Risher exec named CEO Read More »

[colabot8] Laboratory Corporation of America will pay US$2.1 million to settle allegations that it overcharged the Department of Defense for genetic testing involving children and fetuses, the Justice Department announcement Monday. An old LabCorp employee-turned-whistleblower Donna Hecker-Gross sued the diagnostic testing company in 2018 on behalf of the federal government under the False Claims Act. …

Labcorp to pay $2.1 million to settle DOJ lawsuit for allegedly overcharging the Department of Defense Read More »

[colabot8] The winning bidder in the government’s auction of Silicon Valley Bank’s core assets received several concessions to make the deal a reality. First Citizens BancShares acquires $72 billion in SVB assets at a discount of $16.5 billion, or 23%, according to a Sunday release of the Federal Deposit Insurance Corporation. The deal doubles the …

Here’s why the US had to soften the terms to complete the SVB sale Read More »

[colabot8] Alibaba founder Jack Ma was seen in public in China after the first time in several months. The billionaire’s reappraisal may suggest Beijing is easing its stance on the tech sector after an 18-month crackdown. Cost Photo | Edition of the future | Getty Images Ali Baba Founder Jack Ma has been spotted in …

Alibaba founder Jack Ma back in China after months abroad Read More »

[colabot8] The deteriorating macroeconomic climate and the collapse of industry giants like FTX and Terra have weighed on the price of bitcoin this year. STR | Nurphoto via Getty Images Cryptocurrencies fell Monday morning after the CFTC sued Binance, the world’s largest crypto exchange, for allegedly breaking trading rules. The price of bitcoins slipped 2.5% …

Bitcoin falls after CFTC sues crypto exchange Binance for allegedly breaking trading rules Read More »

[colabot8] OneWeb, a rival to Elon Musk’s internet satellite company Starlink, is aiming to roll out global coverage after successfully launching the latest batch of satellites needed for its broadband service over the weekend. The British startup launched 36 more satellites on Sunday morning from the Satish Dhawan Space Center in Sriharikota, India, bringing its …

OneWeb targets global satellite internet coverage after key milestone Read More »

[colabot8] Image of a woman holding a mobile phone in front of a Huawei logo displayed on a computer screen. Arthur Widak | Nurphoto | Getty Images Huawei reportedly said it had developed its own chip design tools, a move aimed at circumventing U.S. sanctions and making the Chinese tech giant more self-sufficient in semiconductors. …

Huawei says it developed chip design tools despite US sanctions Read More »

[colabot8] Humza Yousaf on his way to General Questions in the Scottish Parliament, on March 23, 2023 in Edinburgh, Scotland. KenJack | Getty Images News | Getty Images Humza Yousaf was elected leader of the Scottish National Party by party members on Monday. He is expected to take political leadership in Scotland after an appointment …

Humza Yousaf set to lead Scotland after winning ruling party leadership Read More »