DIRS.INFO The most relevant business & tech news

☆ Biden nominates China specialist to be ambassador to strategic Marshall Islands
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, July 11 (Reuters) - President Joe Biden on Tuesday nominated a senior career diplomat to be U.S. ambassador to the Marshall Islands, a strategic Pacific territory that has become a focus for competition with China. A Chinese speaker, Stone also worked previously as coordinator of efforts to counter Chinese malign economic influence and as acting deputy assistant secretary for China, Taiwan, Hong Kong, and Mongolia. Meanwhile, Chinese diplomats have been courting the region and China's construction and mining companies have expanded their business in Pacific island nations. In May, the U.S. said it had renewed COFA terms with Micronesia and Palau and its chief negotiator told Reuters then he hoped to finalize a deal with the Marshall Islands, whose COFA is due to expire this year, in coming weeks. Last year, more than 100 arms-control, environmental and other activist groups urged the Biden administration to formally apologize to the Marshall Islands and provide fair compensation.

Persons: Joe Biden, Laura Stone, Stone, China's, Biden, David Brunnstrom, Sandra Maler Organizations: State Department's Office, Free Association, Washington, Marshall, Reuters, Marshall Islanders, U.S, Thomson Locations: Marshall, China, India, Nepal, Sri Lanka, Bangladesh, Bhutan, Maldives, Taiwan, Hong Kong, Mongolia, U.S, Pacific, Micronesia, Palau, Bikini

RBI has not yet outlined its plan to supervisors at the European Central Bank (ECB), two people with knowledge of its dealings with the central bank said, making a spin-off unlikely by September. Furthermore, the approval of Russia's central bank, finance ministry and, in the event of a sale, even Russian President Vladimir Putin, will be needed before RBI acts. The ECB urged RBI not to pay a dividend this year because of its concerns over Russia, one of the people said. Austria's central bank and the ECB declined to comment. Another source said he has urged the U.S. not to pressure RBI.

Persons: Raiffeisen, Vladimir Putin, UniCredit, month's Wagner, Robert Holzmann, Christine Lagarde, Magnus Brunner, Brian Nelson, Francesco Canepa, John O'Donnell, Alexander Smith Organizations: Raiffeisen, Reuters, Austrian, European Central Bank, ECB, Treasury, Foreign Assets, OFAC, U.S, Thomson Locations: VIENNA, Russia, Austria, Moscow, U.S, Ukraine, Europe, Washington, Vienna, Soviet, Austrian, United States, Frankfurt

☆ Jeffrey Epstein's brother remains convinced the financier was murdered, calling new DOJ report 'blatant bullshit'
▼ + stars: | 2023-06-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

The DOJ inspector general released a long-awaited report concluding Jeffrey Epstein killed himself. Mark Epstein, his brother, isn't convinced. On Tuesday morning, the Justice Department's Office of Inspector General published its long-awaiting report into Jeffrey Epstein's death. Epstein's body was examined by Kristen Roman, a medical examiner for the city of New York. Investigators also spoke to three other inmates in the cell block who could see directly into Epstein's cell from their own cells.

Persons: Jeffrey Epstein, Mark Epstein, isn't, —, Epstein, I've, Jeffrey Epstein's, Epstein —, Bill Clinton, Donald Trump, Prince Andrew —, Kristen Roman, Michael Baden, Baden, Roman, Mark Epstein isn't, Michael Thomas, Spencer Platt, Epstein Mark Epstein, Mark, they're, debrief, Nobody, EMTs, intubated Organizations: Service, Department's, Bureau of Prisons, Metropolitan Correctional Center, Getty, Justice Department, jail's Health Services Locations: Manhattan, New York, Baden, Epstein

☆ Federal investigators are sure no one strangled Jeffrey Epstein
▼ + stars: | 2023-06-27 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +3 min

The DOJ's watchdog released a report detailing the circumstances leading up to Jeffrey Epstein's death. The report confirms that Epstein died by suicide and was not strangled, as some have speculated. The report, however, slams federal officials for failing to prevent Epstein's death. The report also appears to confirm that Epstein died by suicide and was not strangled, as some have speculated. Justice Department officials also interviewed staffers at the Metropolitan Correctional Center, where Epstein was awaiting trial before his death.

Persons: Jeffrey Epstein's, Epstein, —, SHU Organizations: Service, Justice, Metropolitan Correctional Center, SHU Locations: Manhattan

☆ Christians caught with a Bible in North Korea have faced death and had their families, including children, thrown in prison for life, a new report says
▼ + stars: | 2023-05-26 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +5 min

North Korea offers freedom of religion to its citizens on paper but not in practice. A recently released Department of State report notes that while North Korea constitutionally allows for religious freedom, there is no such thing in practice. One NGO, Open Doors USA, has reported that for Christians in North Korea, life is a "constant cauldron of pressure" and "capture or death is only a mistake away." The North Korea flag flutters next to barbed wire at the North Korean embassy in Kuala Lumpur, Malaysia. That report found that North Korea "denied the rights to freedom of thought, conscience, and religion" and engaged in "crimes against humanity."

☆ Crypto exchange Bittrex files for bankruptcy after SEC complaint
▼ + stars: | 2023-05-08 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange. Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global, which serves customers outside the United States. Bittrex said that it was still holding crypto assets of U.S. customers who did not withdraw funds before April 30. Bittrex has denied the SEC's allegations, saying the crypto assets on its platform were not securities or investment contracts. Bittrex's other largest creditors were mostly customers of the crypto exchange.

☆ U.S. engineers recommended grounding Boeing 737 MAX soon after second crash - report
▼ + stars: | 2023-04-28 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, April 28 (Reuters) - Some Federal Aviation Administration (FAA) engineers recommended grounding the Boeing (BA.N) 737 MAX in March 2019 after a second fatal crash and before the agency took action, a report released Friday said. The Transportation Department's Office of Inspector General said in a report that its review of emails and interviews of FAA officials revealed individual engineers recommended "grounding the airplane while the accident was being investigated based on what they perceived as similarities" between two fatal Boeing 737 MAX crashes in Indonesia and Ethiopia. The report FAA officials "expressed frustration that foreign civil aviation authorities were grounding the aircraft before they had data that linked the two accidents." "We also continue to look for additional opportunities to apply lessons learned from the Boeing 737 MAX's return to service," the agency said Friday. The inspector general added the engineer's risk analysis was not completed and did not go through managerial review citing a lack of detailed flight data.

☆ U.S. extends Citgo's protection from creditors for three months
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 19 (Reuters) - The U.S. on Wednesday extended for three months a license that protects Venezuela-owned oil refiner Citgo Petroleum (PDVSAC.UL) from creditors trying to seize its assets to recoup pending debts. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) extended the general license until July 20, according to the department's website. Washington has since 2019 recognized the opposition-led congress as the entity controlling the refining subsidiary, extending protection to prevent its breakup at the hands of Venezuela creditors. O-I Glass Inc (OI.N), Huntington Ingalls Industries (HII.N), ACL1 Investments, Rusoro Mining Ltd (RML.V) and Gold Reserve (GRZ.V) separately have won attachments contingent on obtaining U.S. Treasury approval to seize assets, or an end to the Treasury protection. ConocoPhillips (COP.N) separately has a claim against Venezuela valued at $1.29 billion over the nationalization of its oil assets in the country.

WASHINGTON — The Justice Department confirmed on Wednesday it had seized the Russia-linked online criminal marketplace Genesis Market, working in conjunction with international law enforcement and the Treasury Department. The announcements from Justice and Treasury came a day after the FBI and a consortium of international law enforcement authorities shut down Genesis Market. The international marketplace steals private information from victims' devices and offers it for sale, Treasury said in a release Wednesday. "Today's takedown of Genesis Market is a demonstration of the FBI's commitment to disrupting and dismantling key services used by criminals to facilitate cybercrime," FBI Director Christopher Wray said in a statement. "Treasury will continue to work closely with our law enforcement colleagues to disrupt this activity and hold malign cyber actors accountable."

☆ US rule to allow some inmates to stay home after COVID emergency lifts
▼ + stars: | 2023-04-04 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +2 min

[1/2] The Metropolitan Detention Center (MDC), which is operated by the U.S. Federal Bureau of Prisons, is pictured, as the global outbreak of the coronavirus disease (COVID-19) continues, in Brooklyn, New York, U.S., December 8, 2020. The regulations are expected to provide some relief to inmates, who feared they could potentially be hauled back into prison when the public health emergency expires on May 11. Criminal justice and civil rights groups have lobbied the Justice Department and the White House to change those rules to prevent inmates from being returned to prison en masse. The BOP will still be able to impose "proportional and escalating sanctions," including a return to prison, on inmates who commit infractions. Of those, the department said only a fraction of one percent were returned to prison due to new criminal conduct.

A Manhattan grand jury voted to indict Donald Trump, possibly over a "hush-money" payment. Here's a timeline of Trump and Daniels' alleged relationship, the $130,000 payment to keep Daniels silent, and the testimonies leading to a possible indictment. Markus Schreiber/APManhattan District Attorney Alvin Bragg convened a grand jury in mid-January of this year to consider an indictment against Trump. And Trump's former fixer and lawyer Michael Cohen, prosecutors' key witness, has made repeated visits to the DA's office and to the grand jury. Anna Moneymaker/Getty ImagesThe Manhattan grand jury voted to indict Trump on Thursday, March 30.

March 30 (Reuters) - Wells Fargo & Co (WFC.N) will pay fines of about $97.8 million for inadequate oversight of its compliance risks, enabling the apparent violation of U.S. sanctions against Iran, Syria and Sudan, federal authorities said on Thursday. The Fed fined Wells Fargo $67.8 million, while OFAC fined the bank $30 million for inadequate oversight of its compliance risks from 2010 to 2015. “Wells Fargo is pleased to resolve this legacy matter involving conduct that ended in 2015, which we voluntarily self-reported and fully cooperated with OFAC and the Federal Reserve Board to address," a Wells Fargo spokesperson said in a statement. In a release, OFAC said that Wells Fargo and its predecessor, Wachovia Bank, provided a European bank with software beginning in 2008 that allowed the firm to process 124 transactions involving sanctioned individuals or jurisdictions. In December, the U.S. Consumer Financial Protection Bureau hit Wells Fargo with the watchdog's largest ever civil penalty as part of a $3.7 billion agreement to settle charges over widespread mismanagement of car loans, mortgages and bank accounts.

[1/5] The logo of Raiffeisen Bank International (RBI) is seen on their headquarters in Vienna, Austria, March 14, 2023. REUTERS/Leonhard FoegerVIENNA, March 23 (Reuters) - The European Central Bank is pressing Austria's Raiffeisen Bank International (RBIV.VI) to unwind its highly profitable business in Russia, five people with knowledge of the matter told Reuters. One person said such a plan could include the sale or closure of its Russian bank. A Raiffeisen spokesperson said that it was examining options for its Russia business "including a carefully managed exit" and that it was "expediting" its assessment, adding that it had also reduced lending in the country. HIGH STAKESIn January, the U.S. sanctions authority launched an inquiry into Raiffeisen over its business related to Russia.

☆ DeSantis-picked education board considers expanding so-called 'Don't Say Gay' law to 12th grade
▼ + stars: | 2023-03-22 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +5 min

Florida's board of education is considering an expansion to a Parental Rights law critics call "Don't Say Gay." It would limit instructions about gender identity and sexual orientation for up to 12th grade. It wasn't immediately clear whether the proposal was aimed at supplanting or clarifying the 2022 law, formally known as the Parental Rights in Education Act. Some Florida school boards have shown they're confused about how to abide by the Parental Rights Act. Some have removed books exploring sexual orientation and gender identity from their libraries, though it's unclear for what grades.

A Manhattan grand jury weighing evidence for a possible Donald Trump "hush-money" indictment. Here's a timeline of Trump and Daniels' alleged relationship, the $130,000 payment to keep Daniels silent, and the testimonies leading to a possible indictment. Markus Schreiber/APManhattan District Attorney Alvin Bragg convened a grand jury in mid-January of this year to consider an indictment against Trump. And Trump's former fixer and lawyer Michael Cohen, prosecutors' key witness, has made repeated visits to the DA's office and to the grand jury. What could happen nextThe final witnesses were scheduled to testify before the grand jury on March 20, though it is unclear when the panel may vote.

☆ The Justice Department investigated Jeffrey Epstein's death. Then it went silent.
▼ + stars: | 2023-03-09 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +25 min

Jeffrey Epstein's death in a federal jail was seen as a shocking Justice Department failure. But more than three years later, the office still hasn't released its report into the circumstances of Epstein's death. "We all took it by surprise," Mark Epstein told Insider. Barr tasked the Justice Department's inspector general, Michael Horowitz, and the FBI with investigating "the circumstances of Mr. Epstein's death." Mark Epstein told Insider that he spoke to his brother about once a month in the years before his death.

[1/5] Grain farmer Oleksandr Klepach points at trenches in his field, amid Russia's invasion of Ukraine, in Snihurivka, southeast Ukraine, February 20, 2023. Agricultural companies, which plant most of Ukraine's fields, are short 40 billion hryvnia ($1.08 billion) to carry out spring work, the Agrarian Council said. Grains have traditionally dominated Ukraine's fields, but lower-cost and higher-priced oilseeds are gaining popularity during war. Ukraine was the world's fourth-largest corn exporter before Russia's full-scale invasion in 2022 and the biggest sunflower oil exporter. Companies lacking demining certification are charging farmers up to $3,000 per hectare to clear fields, Ukrainian media reported on Tuesday.

☆ US Senate panel to hold March 8 hearing on FAA reform efforts
▼ + stars: | 2023-03-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 2 (Reuters) - The U.S. Senate Commerce Committee on Thursday said it would hold a March 8 hearing on efforts by the Federal Aviation Administration (FAA) to reform how it certifies new airplanes after two Boeing 737 MAX crashes killed 346 people. Congress in 2020 passed sweeping reforms to address FAA certification efforts after the fatal crashes in 2018 and 2019 raised safety questions about the agency's airplane certification program. The FAA in January named a panel to review Boeing’s safety management processes and how they influence the company's safety culture. The FAA in September finalized a policy to protect aviation employees who perform government certification duties from interference by Boeing and others. The FAA continues to subject Boeing to enhanced oversight, inspecting all new Boeing 737 MAXs and 787s before they can be delivered.

☆ Austria plays down concerns over U.S. scrutiny of RBI over Russia business
▼ + stars: | 2023-03-02 | by ( Alexandra Schwarz-Goerlich | ) www.reuters.com time to read: +2 min

VIENNA, March 2 (Reuters) - Austria's finance ministry on Thursday played down concerns about U.S. sanctions officials scrutinising Raiffeisen Bank International (RBIV.VI) over its Russia business. "The inquiry from the U.S. sanctions authority is a normal process that gives no cause for concern, because sanctions authorities naturally keep informing themselves about Austrian companies doing business in Russia," Austria's finance ministry told Reuters in a statement. The Austrian finance ministry said it would in due course address questions from parliament about Raiffeisen, as the lender's activities drew more domestic political scrutiny. "A risky deal for the Austrian Raiffeisen, which instead of - like other European banks - ending its business in Russia, is focusing on intensifying business relations," Greens lawmaker Nina Tomaselli said in a parliamentary question. The finance ministry welcomed the prospect of such a deal, suggesting it could prevent losses to savers and deposit insurance of hundreds of millions of euros.

REUTERS/Lisi NiesnerBILOZERKA, Ukraine, March 1 (Reuters) - When Ukraine recaptured Kherson in November, Andrii Povod returned to find his grain farm in ruins. The institute's Baliuk said the war damage could lead to an alarming loss of fertility. ECHOES OF WORLD WAR ONEA working group of soil scientists created by the Ukrainian government estimates it would cost $15 billion to remove all mines and restore Ukraine's soil to its former health. If studies of damage to land during World War One are anything to go by, some areas will never recover. To be sure, World War One lasted four years, and the war in Ukraine only one year so far, but lead remains a key component of many modern munitions, Rintoul-Hynes said.

☆ Raiffeisen stock slumps after U.S. sanctions authority asks about Russia business
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

Feb 20 (Reuters) - Shares in Raiffeisen Bank International fell more than 7% at the open on Monday after the Austrian Bank had said on Friday it had received a request for information from the United States' sanctions authority about its business related to Russia. Earlier in February, Raiffeisen reported it earned more than half of its 2022 profit from Russia, a market it is considering exiting after the country's invasion of Ukraine. RBI has operated in Russia since the collapse of the Soviet Union and is Russia's 10th-largest bank by assets. The bank's shares have fallen 19% since the start of the war in February last year. Reporting by Bartosz Dabrowski in Gdansk Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

An Austrian official said that Austrian authorities were monitoring the situation at Raiffeisen and its business in Russia closely because of the bank's importance. Almost a year since Moscow launched what it calls a "special military operation" in Ukraine, Raiffeisen is among a handful of European banks that remain in Russia. Raiffeisen made a net profit of roughly 3.8 billion euros last year, thanks in large part to a 2 billion euro plus profit from its Russia business. Alternatively, OFAC can also resort to less stringent measures such as levying fines and sending warning letters over sanctions violations. OFAC has sanctioned five major Russian banks, including state-backed Sberbank (SBER.MM) part of a response to that country's invasion of Ukraine, as well as wealthy oligarchs.

☆ Analysis: Washington pushes for harsher action against banks with Russia ties
▼ + stars: | 2023-02-14 | by ( John O'Donnell | ) www.reuters.com time to read: +6 min

"We are looking at additional banks and financial institutions to see how Russia deals with the outside world. Some European banks, including UniCredit (CRDI.MI) and Raiffeisen Bank International (RBIV.VI), have large businesses there and must follow local rules to grant payment holidays to soldiers. ENFORCEMENTO'Brien said that the United States would step up enforcement, something the EU also hopes to improve. "We are now looking at how sanctions, including financial sanctions, can be most effective," he said. "While the majority of important Russian banks are sanctioned, there is a lot outside that perimeter that you could go after," said Nicolas Veron, of Washington think tank the Peterson Institute for International Economics.

☆ Crypto exchange Kraken to end staking service, pay fine in U.S. SEC settlement
▼ + stars: | 2023-02-09 | by ( Hannah Lang | ) www.reuters.com time to read: +3 min

Those providers should register their staking services with the SEC, Gensler added. Owners of crypto assets that use a "proof-of-stake" blockchain can stake some of their assets to potentially take part in the process of validating transactions. In exchange for their work, validators are often rewarded with newly created crypto assets. Kraken offers its customers the ability to "stake" certain crypto tokens in order to earn rewards. The settlement comes a year after a subsidiary of crypto company BlockFi Inc agreed to pay $100 million to the SEC and 32 states to settle charges in connection with a retail crypto lending product the company offered to nearly 600,000 investors.

☆ Crypto exchange Kraken under scrutiny for sale of unregistered securities- Bloomberg
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Cryptocurrency exchange Kraken is under investigation by the U.S. Securities and Exchange Commission for the sale of unregistered securities, according to a Bloomberg report. Kraken declined to comment on the report. SEC Chair Gary Gensler has previously said that companies that help facilitate transactions in the crypto market should register with the agency just like other market intermediaries. Kraken's incoming chief executive officer told Reuters in September that the exchange had no plans to register with the SEC as a market intermediary, or to delist crypto tokens that the regulator has labeled as securities. Reporting by Hannah Lang in Washington; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Department's Office"

25 mentions found