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EU seeks to simplify customs system, tighten up on e-commerce
EU seeks to simplify customs system, tighten up on e-commerce
By Philip Blenkinsop BRUSSELS The European Commission proposed on Wednesday a reform of customs rules for the surge
2023-05-17 18:25
Medical device makers see limited hit from weight-loss drugs
Medical device makers see limited hit from weight-loss drugs
U.S. medical device makers do not see a big impact of new weight-loss treatments on the sales of
2023-10-20 22:18
Dollar firm but softens against yen ahead of FOMC
Dollar firm but softens against yen ahead of FOMC
By Brigid Riley TOKYO The dollar remained firm on Wednesday but softened slightly against the yen ahead of
2023-09-20 08:46
Twitchy Traders Have S&P 500 Comebacks Fizzling at Historic Pace
Twitchy Traders Have S&P 500 Comebacks Fizzling at Historic Pace
Surprised that the S&P 500 swung into the green Friday? Don’t worry. Just wait. It’ll fall again after
2023-08-27 22:23
Exclusive-Chinese cities tighten property firms' access to escrow funds-sources
Exclusive-Chinese cities tighten property firms' access to escrow funds-sources
By Clare Jim and Ziyi Tang HONG KONG/BEIJING Some Chinese city governments have made it harder for developers
2023-08-02 12:48
Swiss National Bank adjusts interest on bank deposits
Swiss National Bank adjusts interest on bank deposits
ZURICH The Swiss National Bank on Monday said it was adjusting the interest it pays with money commercial
2023-10-30 14:51
Tech stocks help pull markets higher
Tech stocks help pull markets higher
Global stocks markets rose on Tuesday thanks to a rebound in tech shares, although investors remained concerned by China's lacklustre economy and the...
2023-08-22 21:52
Modern cars are a data privacy 'nightmare' says study
Modern cars are a data privacy 'nightmare' says study
The world's most popular car brands are a data "privacy nightmare," collecting and selling personal information in an age when driving is going increasingly...
2023-09-07 02:50
Canada Bread agrees to pay C$50m for role in price-fixing scheme
Canada Bread agrees to pay C$50m for role in price-fixing scheme
Canada Bread pleaded guilty to a role in a scheme to inflate the price of the food staple in Canada.
2023-06-22 08:58
Elizabeth Holmes prison: Everything we know about disgraced Theranos founder going to jail
Elizabeth Holmes prison: Everything we know about disgraced Theranos founder going to jail
Disgraced Theranos founder Elizabeth Holmes is about to begin her 11-year prison sentence after being found guilty of defrauding investors, including media mogul Rupert Murdoch, over fake claims about the company’s blood-testing capabilities. As well as being handed jail time over her role in misleading investors, Holmes was also ordered to pay $452m in restitution. Follow the latest updates live “This is a fraud case where an exciting venture went forward with great expectations and hope, only to be dashed by untruth, misrepresentations, hubris, and plain lies,” Judge Davila, presiding over the case, said before handing down the prison sentence to Holmes. “I suppose we step back and we look at this, and we think, what is the pathology of fraud? Is it the inability or the refusal to accept responsibility or express contrition in any way? Now, perhaps that is the cautionary tale that will go forward from this case.” Ahead of being sentenced, Holmes, who has long maintained she did not intend to defraud anyone, told the court: “I am devastated by my failings. “Every day for the past years I have felt deep pain for what people went through because I failed them. I regret my failings with every cell of my body.” Where will Holmes serve her sentence Holmes, who requested 18 months of house arrest as a punishment, will begin her sentence at Federal Prison Camp Bryan in Texas – an all-female facility 100 miles from Holmes’ hometown. The minimum security prison houses around 500 inmates, and runs a variety of programmes intended to prepare prisoners for life after incarceration, according to Camp Bryan’s handbook. Holmes’ day will begin at 6am, when inmates are woken up for meals and work; people failing to comply with the strict wakeup rules are subject to punishments. Inmates are then counted at five different times during the day, when they must assemble in specific areas (once again, punishments are doled out to those who are not present at these times). The prison features a study, game room, and work programmes that see all inmates take part in a six-week course on the importance of efficiency in the workplace before they are placed into a role – with some prisoners earning as little as $0.12 in some assignments. According to the handbook, “All designated inmates are required to develop a financial plan to meet their financial obligations”, which for Holmes will mean reparations of $452m. How will Holmes keep in touch with her family? Holmes is married to Billy Evans, and the pair have two children, William, 2, and newborn Invicta. She lives around 100 miles from her family, who will be permitted to visit at weekends. Inmates at Camp Bryan are also permitted to take part in video sessions with their friends and family, according to the handbook, as well as to send and receive text messages. Prior to beginning her sentence at Camp Bryan, Holmes spent the weekend with her husband and children at the beach.
2023-05-30 22:27
Boards Waffle Over Buyout Bids in $40 Billion Takeover Wave
Boards Waffle Over Buyout Bids in $40 Billion Takeover Wave
A wave of dealmaking has come to Europe, and corporate boards aren’t sure what to do about it.
2023-11-24 18:54
Asia Stocks Fall as Fed Expected to Stay Hawkish: Markets Wrap
Asia Stocks Fall as Fed Expected to Stay Hawkish: Markets Wrap
Stocks in Asia were on the backfoot as traders awaited the Federal Reserve’s next policy decision, with interest
2023-09-20 13:18