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bank

Global Finance Leaders Face Uncertainty as US Election Nears

October 18, 2024

Next week, finance leaders from around the world will gather in Washington for the annual meetings of the International Monetary Fund (IMF) and the World Bank. One big question on their minds: Who will win the upcoming U.S. presidential election and how will that affect global economic policies? Bot

celebrities

Tyra Banks' Runway Return: A Sparkly Comeback

October 16, 2024

Tyra Banks, the former "America's Next Top Model" host, made a stunning comeback on the runway after nearly two decades. At the 2024 Victoria's Secret Fashion Show, the 50-year-old strutted her stuff in a glittering outfit that included a black bustier, sparkly leggings, a silver cape, and strappy h

finance

Bank of America's Third Quarter: Profit & Trading Ups, Loan Losses Up

October 15, 2024

Bank of America had a pretty good quarter! They beat what experts expected by making more in profit and revenue. Here are the stats they shared: Earnings: 81 cents, while analysts said 77 cents Revenue: $25.49 billion, just over the $25.3 billion guess But the story isn't all sunshine and rainbow...

business

True Value’s Next Chapter: A New Partner and New Beginnings

October 15, 2024

True Value, a long-standing name in the home improvement world, has recently taken a significant step. The company, based in Chicago, has filed for Chapter 11 bankruptcy and agreed to a sale. But here’s the twist: they’re not going down alone. They’ve partnered with Do It Best, another big player in

politics

NYC Schools Investigation: Feds Dig Deeper

October 12, 2024

The New York City Department of Education has received a subpoena as part of an ongoing federal investigation. This legal request is focused on outgoing Schools Chancellor David Banks and his brother, Terence Banks, who worked as a consultant for companies with city contracts. The subpoena, issued r

finance

Bank Gets Massive Fine for Criminal Cash

October 11, 2024

TD Bank has been hit with a massive $3 billion fine and has pleaded guilty to failing in catching money laundering schemes. This all happened because drug cartels and other criminal groups managed to transfer large amounts of illegal money through TD Bank branches in New York and New Jersey. The ban

finance

Bank Drops Billion to Fix Cartel Cash Blunder

October 10, 2024

TD Bank is shelling out a massive $3 billion fine for letting drug cartels slip through their money laundering checks. This isn't just a slap on the wrist—it's a record-breaking penalty meant to shake things up at the bank. For years, TD Bank's system missed over 90% of suspicious transactions, allo

finance

'AI in Finance: Hype vs. Reality'

October 9, 2024

Lots of financial firms are talking about how great AI is, but many aren't seeing real results yet. Edward J Achtner, the head of generative AI at HSBC, thinks a lot of what's happening is just "success theater." He said at the CogX summit in London that companies need to be smart about where they u

business

FTX Gets Court Nod to Repay Customers

October 8, 2024

FTX has officially received the green light from a bankruptcy court to start repaying its customers. The plan, approved on Monday, is set to use up to $16.5 billion in assets that the company managed to recover after its collapse. The court praised FTX for handling the complex bankruptcy process eff

business

Crypto Exchange FTX: A Big Payback Is on the Way

October 8, 2024

After FTX crumbled in late 2022, many thought their money was gone forever. But recently, a court gave the thumbs-up on a whopping $14 billion U.S. dollars payback plan. This means creditors (people who lent money to FTX) are in for a nice surprise. They'll get all their money back—plus some extra! ...