Accountants should stop complaining about extra scrutiny and fines for audit failures and improve the quality of their work, said the head of the sector’s UK watchdog, which imposed record financial sanctions on the industry last year. Auditors have faced heavy criticism in recent years after failing to raise the alarm in a series of
The New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” Robinhood Crypto Settles With the DFS The New York State Department of Financial Services (DFS) announced Tuesday that Robinhood Crypto LLC (RHC) will pay a
Smaller Bitcoin (BTC) investors have found a unique opportunity during the crypto slump to snap up their favorite cryptocurrency. The number of “wholecoiners” has surged by 40,000 since the June slump alone. According to LookIntoBitcoin, the number of BTC “wholecoiners” has been steadily increasing since January 31, when the BTC price was around $38,000. However,
Molson Coors’ chief executive said cost inflation is now his biggest concern after the US brewer experienced a further jump in prices for inputs like barley, aluminium and freight. That upward trend was taking some of the shine off consumer demand that otherwise appeared resilient despite broader concerns over rising interest rates, inflation and a
Binance’s U.S. platform is delisting crypto token amp after the Securities and Exchange Commission (SEC) declared it a security. Another crypto exchange, Coinbase, disagreed with the regulator, arguing that the token is not a security. Binance Delists AMP ‘out of an Abundance of Caution’ Binance’s U.S. exchange (Binance US) is taking action to ensure that
Detroit-based Miller Canfield public finance attorney Jeffrey Aronoff has joined the five-member board of managing directors following a vote of the firm’s principals. The firm also voted to put attorney Pawel Chudzicki, who is a member of the corporate and transactions group, on the five-member board. The newly elected members join Scott Eldridge, who was
Bain & Co, the Boston-based global management consultant, was on Tuesday hit with a three-year ban from tendering for British government contracts because of its “grave professional misconduct” in a major corruption scandal in South Africa. Jacob Rees-Mogg, Cabinet Office minister, told Bain that the affair had rendered the company’s integrity “questionable” and that he
A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images Check out the companies making headlines in extended trading. Match Group — Shares of the dating app operator tumbled as much as 23% after the company reported revenue of $795 million for the second quarter, compared with
Federal Reserve officials said they want strong evidence that the hottest inflation in four decades is on a sustainable downward path before declaring victory in their fight against it. With consumer prices rising 9.1% in June from a year earlier, the Fed has “a long way to go” on reaching price stability around a 2%
With the real estate market not going the way many prospective home buyers had hoped and mortgage rates rising much faster than expected, a recent RentCafe survey sees a light at the end of the tunnel. Downsizing by just one bedroom could help renters save an average of $3,735 per year, according to the survey.
Municipals were firmer five years and out while an active primary led by two $700-plus million of revenue bonds from the Port of Seattle and the Georgia Ports Authority took the focus away from a massive U.S. Treasury selloff. U.S. Treasuries saw yields rise 20-plus basis points on bonds seven years and in, while equities
Chicago will offer airport and casino site tours to highlight key economic initiatives while Chief Financial Officer Jennie Huang Bennett will seek to make the city’s case with the buy-side for its fiscal turnaround at an annual investors’ conference next week. “This daylong event will include morning tours and investor lunch with Mayor Lori Lightfoot
Iron Condors, typically, are balanced. A reason where you might want to have an unbalanced Iron Condor is to be more versatile with how the market might move — bearish or bullish. In this video, you will learn three different ways on how to create an unbalanced Iron Condors. Understand how Iron Condors really work
Bitcoin (BTC) has been trending up since mid-July, although the current ascending channel formation holds $21,100 support. This pattern has been holding for 45 days and could potentially drive BTC towards $26,000 by late August. According to Bitcoin derivatives data, investors are pricing higher odds of a downturn, but recent improvements in global economic perspective
Los Angeles Ron_Thomas | Getty Images As rising interest rates and surging property values prevent more families from buying a home, the demand for rentals has soared, with the highest rent prices in the sunniest states. Rent prices for single family homes swelled during the first half of 2022, hitting a national average of $2,495
On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time. Nomad Cross-Chain Bridge Exploited for $190 Million Cross-chain bridges in
The Chicago’s Park District’s pension overhaul that pulled the system off a track to insolvency along with a healthy balance sheet that has overcome early COVID-19 pandemic hits have stabilized the district’s ratings, Fitch Ratings and S&P Global Ratings said. Fitch and S&P revised the outlook to stable from negative on the district’s AA-minus general
In this article UBER TAP CAT An Uber banner on the New York Stock Exchange on the day of Uber’s IPO, May 10, 2019. Source: NYSE Check out the companies making headlines in midday trading Tuesday. Uber Technologies — Uber shares popped 17.6% after the ride-hailing giant reported a quarterly revenue that beat analyst expectations.
The Securities and Exchange Commission’s Office of Municipal Securities has a new deputy director and is seeking a financial analyst to join its team in either of its Los Angeles, Washington D.C., Atlanta or Chicago offices. That’s according to an SEC spokesperson and a posting on USAJOBS, the official job portal for the federal government.
BP’s problem, like that of the other oil supermajors, is it has more money than it can justify what to do with. BP knows what it would like to do with the windfall profits being made from the Ukraine-induced rise in energy prices: return them to shareholders. It announced a 10 per cent rise in