Bitzlato Crypto Founder Charged With $700m Financial Crimes
Authorities have seized cryptocurrency exchange Bitzlato, and arrested its co-founder, accusing the firm of fuelling a “high-tech axis of crypto crime”. The US Department of Justice charged Anatoly Legkodymov, a Russian national living in China, with running a business that catered to what he once described as “crooks”. They said Bitzlato processed more than $700m […]
NNPC To Drill First Oil Well In Nasarawa By March – Kyari
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to drill the first oil well in Nasarawa State, North Central Nigeria in March this year in continuance of its oil exploration activities in the country’s inland basins. Group chief executive officer of the company, Mallam Mele Kyari who divulged this when the governor of […]
World’s Richest Man Promotes Daughter To Head Dior
The world’s richest man, Bernard Arnault, has appointed his daughter to head up fashion house Dior. Mr Arnault promoted Delphine Arnault, 47, as part of a reshuffle at LVMH, Europe’s most valuable company. It owns a portfolio of high-end brands including Fendi and Louis Vuitton and is worth about £336bn. The outgoing head of Dior, […]
FTX: Collapsed Crypto Giant Recovers Over $5bn Of Assets
Collapsed cryptocurrency exchange FTX has located more than $5bn (£4.1bn) of assets, an attorney for the firm says. However, a US bankruptcy court was told on Wednesday that the extent of losses to customers is still not known. Prosecutors have accused FTX’s former chief executive Sam Bankman-Fried of orchestrating an “epic” fraud that may have […]
CBN Orders Banks To Ensure Redesign Note Is Made Available Via ATMs
The Central Bank of Nigeria (CBN) has threatened to punish commercial banks that fail to comply with the directive of loading the redesigned naira notes in their automated teller machines (ATMs). Ahmed Umar, CBN director, of currency operations, made this known in Abuja on Monday at the training session for state directors of the National […]
Single-use Plastic Cutlery And Plates To Be Banned In England
Single-use items like plastic cutlery, plates and polystyrene trays will be banned in England, the government has confirmed. It is not clear when the ban will come into effect but it follows similar moves by Scotland and Wales. Environment Secretary Thérèse Coffey said the move would help protect the environment for future generations. Campaigners welcomed […]
Jack Ma To Give Up Control Of Fintech Giant Ant Group
The billionaire founder of Ant Group, Jack Ma, is to give up control of the Chinese fintech giant after a regulatory crackdown. Ant Group said that after the change no-one would have overall control. The formerly flamboyant Mr Ma has seldom been seen in public since criticising China’s financial sector in 2020. Following that criticism, […]
Amazon To Axe 18,000 Jobs As It Cuts Costs
Amazon plans to cut more than 18,000 jobs, the largest number in the firm’s history, as it battles to save costs. The online giant which employs 1.5 million people globally, did not say which countries the job cuts would hit, but said they would include Europe. Most of the job losses will come from its […]
Twitter Sued Over $136,260 In Unpaid Rent After Elon Musk Takeover
Elon Musk is trying to slash expenses at Twitter as close to zero as possible while his personal wealth shrinks – and this apparently has included falling behind on rent payments at the company’s offices. Twitter owes $136,260 (£113,601) in overdue rent on its offices on the 30th floor of a building in downtown San Francisco, […]
Energy Giant ExxonMobil Sues EU To Block Energy Windfall Tax
US energy giant ExxonMobil is suing the EU in a bid to force the bloc to scrap its new windfall tax on oil firms. A windfall tax is imposed on firms that benefitted from something they were not responsible for. Energy firms are getting much more money for their oil and gas, partly due to […]
