The Commodity Futures and Trading Commission filed a complaint against crypto exchange Binance, its co-founder, Changpeng Zhao, and its former chief compliance officer, Samuel Lim, alleging that Binance actively solicited U.S. users and subverted the exchanges own “ineffective compliance program,” according to a filing in Illinois federal court Monday. The filing has the potential to upend […]Read More
ORLANDO, Fla. — Unions for service workers at Walt Disney World reached a tentative deal with the company on Thursday that would raise the starting minimum wage from $15 to $18 an hour by the end of the year in a pact that could set the basement for starting pay throughout central Florida’s sprawling tourism […]Read More
DETROIT — The Chevrolet Camaro, for decades the dream car of many teenage American males, is going out of production. General Motors, which sells the brawny muscle car, said Wednesday it will stop making the current generation early next year. The future of the car, which is raced on NASCAR and other circuits, is a bit murky. […]Read More
WASHINGTON — Treasury Secretary Janet Yellen said on Wednesday that the Federal Deposit Insurance Corporation (FDIC) was not considering providing “blanket insurance” for banking deposits following the collapse of two prominent banks this month. Yellen made the comments at a hearing of a Senate appropriations subcommittee, where lawmakers posed questions about the administration’s efforts to […]Read More
The Federal Reserve is raising its key interest rate by 0.25%, continuing on its crusade against inflation while warning that recent instability in the banking sector could weigh on the economy. In announcing their ninth consecutive rate hike — which increases the benchmark federal funds rate to a range of 4.75% to 5% — Fed […]Read More
US Treasury Secretary Janet Yellen — REUTERS/GARY CAMERON US Treasury Secretary Janet Yellen sought to reassure jittery investors that American bank deposits were safe and promised policymakers had more firepower to battle any crisis even as bank stocks resumed their slide on Thursday. Investors have dumped banking stocks globally over the past two weeks, with rapid interest rate hikes to rein in inflation blamed by some as the […]Read More
SINGAPORE – Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garage. But the car-tech enthusiast is also not ready to give up his S$1.6-million ($1.21 million) McLaren 765LT with a V8 engine capable of hitting 100 km per hour (62 miles per hour) in three seconds. The city-state’s bid to stop the purchase of combustion-engine […]Read More
STOCK PHOTO | Image by Pexels from Pixabay BRUSSELS – European Union country leaders agreed on Thursday to fast-track reforms to the bloc’s electricity market meant to tame severe price spikes such as those experienced last year after Russia cut gas supplies to Europe. Helped by mild weather and a raft of emergency measures to save energy and store gas, the EU is emerging from […]Read More
REUTERS World Bank President David Malpass set out on Thursday a new road map for private sector participation in project financing across emerging and developing economies as yearly financing needs balloon to $2.4 trillion. The massive financing yearly needs, a new World Bank estimate, could address the effects of climate change, war, and pandemics, and private capital is “essential” for meeting those needs, Mr. Malpass said. Mr. Malpass announced his resignation to the World Bank in […]Read More
Empowering women, energizing progress – BusinessWorld Online International Women’s Day may be over, but AboitizPower proudly celebrates every day our female team members leading the way in energizing progress and empowering lives. As this month comes to a close, may we all be […]Read More
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