Prominent Real Estate Brothers Arrested on Federal Sex Trafficking Charges
Alon, Oren, and Tal Alexander, well-known real estate moguls, have been arrested on federal sex trafficking charges, New York prosecutors announced Wednesday. According to an indictment unsealed in New York, the Alexander brothers conspired over a decade-long period to “repeatedly and violently drug, sexually assault, and rape dozens of women.” They were arrested in Miami […]
New CFPB Rule to Cap Overdraft Fees Could Save Customers $5 Billion Annually
The Consumer Financial Protection Bureau (CFPB) finalized a rule on Thursday that could save banking customers up to $5 billion per year by capping overdraft fees at $5 for many accounts, significantly reducing the typical $35 fee charged by banks. Rohit Chopra, the CFPB director, told ABC News that the rule could save the average […]
OPay Wins CBN’s IFIC Award for Financial Inclusion Innovation
OPay, one of Nigeria’s leading financial technology companies, has been honored with the IFIC Award for Financial Inclusion Innovation by the Central Bank of Nigeria (CBN). The award was presented at the 2024 International Financial Inclusion Conference (IFIC), a landmark event bringing together global leaders, regulators, and stakeholders to drive financial inclusion across Africa and beyond. The […]
Norway’s $1.8 Trillion Wealth Fund Divests from Israeli Telecom Over West Bank Operations
Norway’s $1.8 trillion sovereign wealth fund, the largest in the world, announced on Tuesday that it has sold its shares in Bezeq, Israel’s leading telecom provider, due to ethical concerns over the company’s operations in the occupied West Bank. The decision reflects a stricter interpretation of ethical guidelines by the fund’s ethics watchdog, the Council […]
Court Blocks Elon Musk’s $56 Billion Pay Package, Tesla Vows to Appeal
A Delaware court has ruled against reinstating Tesla CEO Elon Musk’s record-breaking $56 billion (£47 billion) pay package, despite approval from shareholders and directors earlier this year. The decision, issued by Judge Kathaleen McCormick, follows months of legal disputes. Judge McCormick reaffirmed her January ruling, stating that Tesla’s board members were overly influenced by Musk […]
Vietnamese Tycoon Truong My Lan Loses Appeal Against Death Sentence for Historic Bank Fraud
Vietnamese property magnate Truong My Lan has lost her appeal against the death sentence handed down for her role in orchestrating the largest bank fraud in history. However, the 68-year-old could still avoid execution by repaying 75% of the $12 billion she was found guilty of embezzling, as per Vietnamese law. In April, the court […]
Stellantis CEO Carlos Tavares Resigns Amid Profit Warnings and Plant Closure Plans
Carlos Tavares, the head of Stellantis—the automotive giant behind brands such as Chrysler, Jeep, Fiat, Peugeot, and Vauxhall—has resigned with immediate effect. Tavares’ sudden departure follows a profit warning issued by the company two months ago and last week’s announcement of plans to shut down the Vauxhall van manufacturing plant in Luton, threatening approximately 1,100 […]
Black Friday Breaks Online Sales Record with $10.8 Billion in Spending
Shoppers weren’t just filling their plates this Thanksgiving—they were also filling their online carts, setting a new Black Friday online shopping record of $10.8 billion, according to Adobe Analytics, which tracks U.S. e-commerce data. This year’s total more than doubles the $5 billion spent online during Black Friday in 2017. The record-setting spree came on […]
NNPC Denies Allegations of Staged Fuel Loading at Port Harcourt Refinery
The Nigerian National Petroleum Company (NNPC) Limited has refuted claims that the recent loading of petrol at the rehabilitated Old Port Harcourt Refinery involved old petroleum stock. The allegations, made by Timothy Mgbere, a representative of the Alesa community stakeholders, accused the NNPC of staging the refinery’s re-streaming and truck-loading activities. NNPC spokesperson Femi Soneye […]
Dow Hits Record High Despite Trump’s Tariff Pledge
The Dow Jones Industrial Average closed at a record high on Tuesday, rebounding swiftly less than a day after President-elect Donald Trump’s announcement of sweeping tariffs on Canada, China, and Mexico sparked fears of market turmoil. The Dow rose 0.25% during the trading session, closing at 44,860.31. The S&P 500 also hit a record, climbing […]
