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This all comes as Larry Fink, 71, is entering what is likely the last chapter of a successful career as cofounder and chief executive of $10 trillion BlackRock. Here's everything you need to know:BlackRock is set to buy Global Infrastructure Partners in its biggest deal in 15 yearsThroughout 2023, Fink signaled that a "transformational deal" was on the cards. He found his target in private equity firm and infrastructure investor Global Infrastructure Partners, the firm announced on Friday. Jessica Tan, head of BlackRocks' sustainability and transitions strategy, will head the global product solutions team in the Americas. Charles Hatami, global head of the financial and strategic investor group that focuses on relationships with large investors like insurers and sovereign wealth funds, will join BlackRock's global executive committee.
Persons: Larry Fink, Fink, Rob Kapito, BlackRock iShares, GIP, Kapito, Goldman Sachs, Goldman, David Solomon's, Ogunlesi, Wells, Mike Mayo, Larry, Stephen Cohen, Salim Ramji, Jessica Tan, Jane Sloan, GIP's, Edwin Conway, Conway, Rachel Lord, Lord, Charles Hatami Organizations: Business, BlackRock, Global Infrastructure Partners, GIP, London Gatwick, Wall Street, Asia Pacific, Securities, Exchange Commission Locations: Sydney, Bayo, Ogunlesi, BlackRock, Americas, Europe, East, India, Asia, Pacific
Sarah Gundle Sarah Gundle, PsyDThese are appropriate questions, when you consider the public fascination with stories about Gypsy Rose Blanchard, who was recently released on parole after serving eight and a half years for helping to kill her abusive mother. The revelation drove Gypsy Rose to seek revenge by convincing her boyfriend to murder her mother. Of course, the behavior of Dee Dee Blanchard and Debra McCurdy was beyond the pale, rising to the level of evil. And would Dee Dee Blanchard have been able to stop the train of destruction if someone had more doggedly recognized and confronted her mental illness? Maybe we need to heed the words of Gypsy Rose Blanchard, who has said that trying to understand where her mother was coming from “brought me to a place of forgiveness.” Blanchard recently told CNN of her mother: “She was not an evil woman.
Persons: Sarah Gundle, Sarah Gundle Sarah Gundle, Gypsy Rose Blanchard, Gypsy Rose Blanchard ”, Blanchard, Claudine “ Dee Dee ” Blanchard, Gypsy Rose, Dee Dee, , Jennette McCurdy, McCurdy, , Debra, Dee Dee Blanchard, Debra McCurdy, , I’m, ” Andrew Solomon, Rozsika Parker, “ We’re, that’s, Carl Jung, don’t, Dee Dee Blanchards, Debra McCurdys, ” Blanchard, Organizations: Icahn School of Medicine, Mount Sinai Medical, CNN, Nickelodeon Locations: New York City
Aylo, Pornhub’s parent company, will pay a $1.8 million fine and compensate the sex trafficking victims as part of a deferred prosecution agreement. The company pleaded not guilty to the government’s charge of engaging in unlawful monetary transactions involving sex trafficking proceeds, although it acknowledged the illegal material was posted on its site and said it regrets that fact. The government did not accuse Aylo itself of violating any federal sex trafficking laws, but said the company should have known it was doing business with a group that was engaging in sex trafficking. And Aylo became aware of a federal lawsuit against the production company in 2017, court documents show. In a statement, Aylo, which is under new management since the alleged incidents occurred, said it “deeply regrets” that Pornhub hosted the content.
Persons: Pornhub, Aylo, , , James Smith, Solomon Friedman, ” Friedman Organizations: Washington CNN, Eastern, of, FBI, Aylo Holdings, CNN, Ethical Capital Partners Locations: Peace, of New York, Canada
Papua New Guinea Prime Minister James Marape will travel to Canberra on Thursday to sign the security agreement, his office said. "The security arrangement is in the best interest of Papua New Guinea and also for Australia and its regional security interests," Marape said in a statement on Tuesday. The Australian Federal Police and the defence minister's office did not immediately respond to a request for comment on the security agreement. "Its a big issue and Australia can help us out considerably," said Tkatchenko, who began negotiations with Australia on the deal last year. They will be contracted officers reporting directly to the police commissioner of Papua New Guinea and they will be under all the laws of PNG.
Persons: James Marape, Lillian Suwanrumpha, Marape, Justin Tkatchenko, Tkatchenko, Kirsty Needham, Edmund Klamann Organizations: Guinea's, APEC, APEC Business, Economic Cooperation, Rights, Papua New Guinea, Australia, U.S, Reuters, Defence, Australian Federal Police, PNG Royal Constabulary, CID, Australian, Thomson Locations: Papua, Asia, Bangkok, Thailand, Papua New Guinea, biosecurity, Papua New, Canberra, United States, China, Solomon Islands, Australia, France
Big bank CEOs will likely convey deposits and earnings are stable to lawmakers on Wednesday, according to a major financial services executive. Thomas Michaud, CEO of Stifel company Keefe, Bruyette & Woods, thinks the hearing before the Senate Banking Committee will successfully provide assurance to Washington and Wall Street. "The targeted approach to change deposit insurance to reduce the 'too big to fail' thinking, so depositors don't run like that. He thinks action is needed to keep mid-sized banks competitive with the big banks — starting with lifting Federal Deposit Insurance Corp coverage limits for small businesses. "If deposit insurance reform in my opinion doesn't happen, there's going to be tremendous pressure on those [mid-size] banks to consolidate," Michaud said.
Persons: Thomas Michaud, Keefe, Jamie Dimon, Goldman Sachs, David Solomon, " Michaud, He's, Michaud Organizations: Wall, . Banking, Silicon Valley Bank, Signature Bank, First, Federal Deposit Insurance Corp Locations: Washington, Silicon, First Republic
Spokespeople for the banks declined to provide comment ahead of the hearing or did not respond to requests for comment. Kevin Fromer, president of the Financial Services Forum, which represents the CEOs, said he expected Basel to be a focus. Big bank CEOs have been appearing before Congress for several years after the 2007-09 financial crisis and subsequent scandals thrust the industry into Washington's crosshairs. Former Wells Fargo CEO Tim Sloan, meanwhile, resigned in March 2019 after stumbling during a hearing about the bank's regulatory woes. But after years of playing defense, the CEOs are expected to be more assertive, this time backed by Republicans critical of red tape.
Persons: Andy Cecere, William Demchak, Jamie Dimon, Jane Fraser ,, Brian Moynihan, William Rogers, Wells, Bank of America's Brian Moynihan, Citi's Jane Fraser, Wells Fargo's Charles Scharf, Goldman Sachs, David Solomon, Morgan Stanley's James Gorman, Ronald O'Hanley, BNY Mellon's Robin Vince, Sherrod Brown, Brown, Kevin Fromer, Dimon, Elizabeth Warren, Tim Sloan, meanwhile, Tim Scott, Pete Schroeder, Nupur Anand, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Michelle Price, Nick Zieminski Organizations: U.S . Bancorp, PNC Financial Services Group, JPMorgan Chase, Co, Citigroup, Jane Fraser , Bank of America, Truist Financial, JPMorgan, Bank of America, Bank of America's, Democratic, Silicon Valley Bank, Financial Services, Big, Former Wells, Republicans, Thomson Locations: WASHINGTON, Wells Fargo, Silicon, Basel, New York
The Vangunu giant rat is a species that exists only on one of the Solomon Islands. They were trying to capture evidence of the Vangunu giant rat, Uromys vika. It's been known to eat green coconuts , but researchers had never seen a live rat. Despite its large size, the giant rat was difficult to spot. The Vangunu giant rat is critically endangered, and logging has destroyed its habitat.
Persons: , Tyrone Lavery, It's, Lavery, vika, it's, " Lavery, Vika Organizations: Service, University of Melbourne, Solomon Islands National University, Solomon, Australian Broadcasting Corporation Locations: Solomon Islands, Vangunu, Zaira, Solomon, New Guinea
Sallie Krawcheck, CEO of Ellevest, an investment and financial literacy platform for women, has been a vocal advocate for remote work. The various benefits — lower fixed costs, a larger talent pool, and added flexibility for women and under-represented groups — factor into why Ellevest has remained fully remote since the pandemic. Not many people do it, and you can't run into each other at the coffee machine when you're on Zoom," Krawcheck said. Goldman Sachs CEO David Solomon has referred to remote work as "an aberration." Meta , which vocally embraced fully remote work, now has many employees back three days a week.
Persons: It's, Sallie Krawcheck, Ellevest, Krawcheck, Merrill Lynch, Jamie Dimon, Dimon, Goldman Sachs, David Solomon, Sam Altman, Nicholas Bloom, Covid, Bloom Organizations: Amazon, Google, CNBC Workforce, Citigroup, Wall, Cisco, Microsoft, Stanford Locations: New York City
At an off-site in upstate New York last month, during a dinner lasting roughly three hours, Goldman Sachs Chief Executive David Solomon told partners that the firm had made some mistakes with consumer lending. But, he said, the business wasn’t as bad as they thought and they didn’t understand the details. He wouldn’t tolerate partners trash-talking Goldman’s decision to get into consumer lending, he told them. Goldman has known for a while that consumer lending wasn’t really working out, and the bank has been looking for the exits. The tech giant recently sent a proposal to Goldman that would pull the plug on their credit-card partnership, the crown jewel of the business.
Persons: Goldman, David Solomon Organizations: Apple Locations: New York
MOUNTAIN VIEW, California (AP) — From underwater drones to electronic warfare, the U.S. is expanding its high-tech military cooperation with Australia and the United Kingdom as part of a broader effort to counter China’s rapidly growing influence in the Indo-Pacific. Defense Secretary Lloyd Austin met with defense chiefs from Australia and the United Kingdom at the U.S. military’s defense technology hub in Silicon Valley on Friday to forge a new agreement to increase technology cooperation and information sharing. The three nations have laid out plans for the so-called AUKUS partnership to help equip Australia with a fleet of eight nuclear-powered submarines. AUKUS is an acronym for Australia, the United Kingdom and the United States. He added that as an island nation, Australia has a need for improved maritime drones and precision strike capabilities.
Persons: Lloyd Austin, ” Austin, Richard Marles, Grant Shapps, Austin, Marles, Shapps, we’ve, aren’t, Adam Bry, Alex Horn, Horn Organizations: Pacific . Defense, Australian Defense, Defense Innovation Unit, Britain, U.S, Australian Navy, Solomon Islands, warfighters, Air Force, Morris Air National Guard Base Locations: California, U.S, Australia, United Kingdom, Silicon Valley, United States, Virginia, Adelaide, China, Pacific, South China, Beijing, Solomon, Taiwan, DIU, Arizona
AdvertisementIn today's big story, we're looking at the growing tension at AWS with rising employee burnout. Just like OpenAI's ChatGPT or Google's Bard, Amazon Q is a generative AI chatbot users can talk to like a human. Amazon Web Services, which developed Amazon Q, announced the new product under the fanfare of its annual event in Las Vegas, AWS re:Invent. Business Insider's Eugene Kim, our resident Amazon expert, has a report on the growing tension and burnout among AWS employees. Jon Krause for InsiderThe burnout at AWS reminds me of another company at the top of its field facing turmoil: Goldman Sachs.
Persons: , you've, Taylor, Pena Popo, Noah Berger, Bard, Insider's Eugene Kim, ChatGPT, Jon Krause, Goldman Sachs, Goldman, David Solomon, haven't, BI's Dakin Campbell, Bethany McLean, Goldman aren't, Goldman's, Sylvain Gaboury, Patrick McMullan, Slaven, The New York Times Elon Musk, Tesla, They've, Joe Santagato, Elon Musk, Drazen, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Spotify, Getty, Web Services, Microsoft, Goldman, Slaven, The New York Times, Amazon, Business, American Express, Federal, Paris, Paralympic, Kroger, Dell Locations: Las Vegas, Austin , Texas, New York City, San Diego, London, New York
Goldman Sachs boss David Solomon told the Financial Times that DJing was still his "passion." His gigs at music festivals sparked internal unrest at the Wall Street bank. "But if my doing it publicly in any way is distracting to Goldman Sachs, my number one focus is Goldman Sachs," he added. Solomon's decision to stop came amid increasing discontent at the Wall Street giant over a number of issues, including his high-profile gigs. Goldman Sachs declined to comment when contacted by Insider.
Persons: Goldman Sachs, David Solomon, , Goldman, It's, Solomon, DJ'ing Organizations: Financial Times, Service, Hamptons, New York Times, Wall
For years, the Indigenous people on Vangunu, one of the Solomon Islands, had insisted a critically endangered giant rat that could chew through coconuts still lived among the trees of the forest, though its numbers had dwindled as loggers destroyed its habitat. But it turned out the people of the village of Zaira were right. Researchers from the University of Melbourne and Solomon Islands National University, with help from the local community, recently captured photos of the Vangunu giant rat, or Uromys vika. It is one of the world’s rarest rodents and Vangunu is the only island it is known to inhabit. The rat, called Vika by the people of Vangunu, is at least twice the size of a common rat, at about 18 inches, half of which accounts for the tail, researchers said.
Organizations: University of Melbourne, Solomon Islands National University Locations: Solomon, Zaira, Vangunu
Elon Musk is cosplaying statesmanship. Elon Musk (L) meets with Israeli President Isaac Herzog (R) on November 27, 2023 in Jerusalem, Israel. Ironically, the Irish PM hates the Irish people — Elon Musk (@elonmusk) November 24, 2023As an approach to business development, none of this looks particularly sure-footed. — Elon Musk (@elonmusk) November 19, 2023Esther Solomon, editor-in-chief of Israeli newspaper Haaretz, labelled Musk a "blatant antisemite" and slammed Netanyahu for entertaining the tycoon. Blatant antisemite & publisher of antisemitism Elon Musk should be persona non grata in Israel.
Persons: Elon Musk, He's, , Benjamin Netanyahu, Musk, Kfar, Isaac Herzog, Handout, Bibi, Shlomo Karhi, — Elon, Starlink, Drew Harris, Leo Varadkar, Esther Solomon, Netanyahu, Elon, zGc10w8Y9H, XMkitJclUt — Esther Solomon, @EstherSolomon Organizations: Service, Israeli, Kfar Aza, Gaza, Garda, PM, White, Haaretz Locations: Israel, Gaza, Jerusalem, Ukraine, Dublin, Ireland
It would also mean that Apple would need to find a new financial partner for its popular credit card, Apple Card, and its high-yield savings accounts under the Apple brand. While Apple offers both its credit card and savings account through the wallet app on iPhones, the banking backend is handled by Goldman Sachs. When Apple first launched the Apple Card in 2019, Goldman Sachs CEO David Solomon was in attendance at a glitzy Apple launch event at its California campus. But the partnership has been rocky in recent years as Goldman Sachs, under CEO David Solomon, has retreated from its previous consumer banking ambitions as costs stacked up. Earlier this year, Goldman Sachs said that it would "consider strategic alternatives" for its consumer banking business.
Persons: David Solomon, Goldman Sachs, The Beverly Hilton, CNBC's Leslie Picker, Goldman, It's, Apple, Steve Kovach Organizations: Milken Institute Global, The Beverly, The Beverly Hilton Hotel, Apple, CNBC, Wall Street Locations: Beverly Hills , California, California
Williams, a former federal prosecutor and former U.S. Marine Corps pilot and prosecutor, is the third Republican to declare his candidacy. In an announcement video, Williams says, “I'm running for attorney general because I know how to deal with violence. As a freshman lawmaker, he became one of two House Republicans tapped to lead the impeachment of Philadelphia's progressive district attorney, Larry Krasner. The two other Republicans who have announced their candidacies are York County District Attorney Dave Sunday and former federal prosecutor Katayoun Copeland. Josh Shapiro 's second term as attorney general and doesn't plan to run for the office.
Persons: Philadelphia's, Joe Biden’s, Craig Williams, Williams, , Joe Sestak, Larry Krasner, Krasner, Donald Trump’s, Dave Sunday, Katayoun Copeland, Jack Stollsteimer, Jared Solomon of Philadelphia, Eugene DePasquale, Joe Kahn, Keir Bradford, Michelle Henry, Josh Shapiro, Shapiro, Henry, Marc Levy Organizations: Republican, U.S . Marine Corps, U.S . Rep, Peco Energy Co, Exelon Corp, Republicans, University of Florida, York, Gov Locations: HARRISBURG, Pa, Philadelphia, Alabama, York County, Delaware County, Montgomery, Alaska
Stollsteimer joins a Democratic primary field that is already four-deep in which he will be the only elected prosecutor. In his campaign for attorney general, Stollsteimer will lean heavily on his experience as the twice-elected district attorney of Delaware County, Pennsylvania's fifth-most populous county sitting between Philadelphia and Delaware. In 2019, he won his race for district attorney, becoming the first Democrat to hold the office in Delaware County, once a Republican bastion that Democrats now control. On the Republican side, York County District Attorney Dave Sunday and former federal prosecutor Katayoun Copeland have announced their candidacies. Attorney General Michelle Henry does not plan to run to keep the office.
Persons: Jack Stollsteimer, Joe Biden’s, ” Stollsteimer, Stollsteimer, Donald Trump’s, , Fanta Bility, Jared Solomon of Philadelphia, Eugene DePasquale, Joe Kahn, Keir Bradford, Dave Sunday, Katayoun Copeland, Michelle Henry, Marc Levy Organizations: Democratic, Treasury Department, Democrats, Temple University, Republican, of Education, Philadelphia Inquirer Locations: HARRISBURG, Pa, Delaware County, Pennsylvania, Philadelphia and Delaware, , Philadelphia, Chester, Montgomery, York County
Australian funds IFM Investors and Aware Super will pump 10 billion pounds and 5 billion pounds, respectively, into projects ranging from infrastructure and energy transition to affordable housing, Sunak's Downing Street office said in a statement. It added that Spanish power giant Iberdrola (IBE.MC) would add 7 billion pounds to its investment plans in Britain, which include transmission and distribution electricity networks. France has overtaken Britain as the European country with the highest number of new FDI projects. President Emmanuel Macron announced 13 billion euros ($14 billion) of investment commitments in France at a similar FDI gathering in May. "It wants to deal with one person," investment minister Dominic Johnson told Reuters, adding ministers could then have "very strong, frank discussions with the international investment community about how we can make the environment more investable".
Persons: Rishi Sunak, Kemi Badenoch, Sunak's, Iberdrola, Sunak, Emmanuel Macron, Stephen Schwarzman, David Solomon, Goldman Sachs, Jamie Dimon, JP Morgan Chase, Amanda Blanc, Dominic Johnson, IFM, King Charles, William Schomberg, Alistair Smout, Louise Heavens, Mark Potter Organizations: British, Global Investment, Business, IFM, Microsoft, Blackstone, LBC, Nissan, Reuters, Thomson Locations: Hampton, East Molesey, Surrey, Britain, France, Germany, England, Buckingham
Australian funds IFM Investors and Aware Super will pump 10 billion pounds and 5 billion pounds, respectively, into projects ranging from infrastructure and energy transition to affordable housing, Sunak's Downing Street office said in a statement. Spanish power giant Iberdrola (IBE.MC) will add 7 billion pounds to its investment plans in Britain, which include transmission and distribution electricity networks, it said. France last year overtook Britain as the European country with the highest number of new FDI projects. French President Emmanuel Macron announced 13 billion euros ($14.18 billion)of investment commitments in his country at a similar FDI gathering in May. It wants to deal with one person," investment minister Dominic Johnson told Reuters ahead of Monday's event at Hampton Court.
Persons: Rishi Sunak, Ian Forsyth, Sunak's, Sunak, Emmanuel Macron, Stephen Schwarzman, David Solomon, Goldman Sachs, Jamie Dimon, JP Morgan Chase, Dominic Johnson, Jeremy Hunt, IFM, William Schomberg, Alistair Smout, Louise Heavens Organizations: Britain's, Nissan, IFM, Microsoft, Britain, Blackstone, Hampton Court, Thomson Locations: Sunderland, Britain, Spanish, Hampton, London, France, Germany, England, British
So when Banegas fled gang threats in Honduras once more in 2021, he set his sights not on the United States, but Mexico. He gets along with his Mexican coworkers, he said, and he's proud his six-month-old son, David, is a Mexican citizen. 'VERY SOLID OPTION'A decade ago, a few hundred people annually received asylum in Mexico. The vast majority of migrants who enter Mexico continue north toward the U.S., posing challenges for the Biden administration. U.S., Mexican and U.N. officials have called for regional cooperation to help migrants resettle in places such as Mexico, Costa Rica and Colombia, aiming to reduce illegal migration to the U.S.
Persons: Walter Banegas, Daniel Becerril, Banegas, Long, he's, David, Biden, Giovanni Lepri, Arturo Rocha, Jose Medina Mora, Fernando Hernandez, Kaitlyn, Hernandez, Daina Beth Solomon, Laura Gottesdiener, Christian Plumb, Suzanne Goldenberg Organizations: Pace, REUTERS, Rights, United, Pace Industries, UNHCR, U.S, ASK, Thomson Locations: Honduras, Mexico, Saltillo , Mexico, Rights SALTILLO, Mexican, Saltillo, Honduran, United States, United Nations, Michigan, U.S, Haiti, Venezuela, El Salvador, Cuba, Costa Rica, Colombia, Texas, Monterrey, Chang's, Mexico City
EAST RUTHERFORD, N.J. (AP) — Miami safety Jevon Holland called the MetLife Stadium turf “trash” after teammate Jaelan Phillips injured his right Achilles tendon in the Dolphins' 34-13 win over the New York Jets on Friday. Phillips was carted from the field late in the fourth quarter, a non-contact injury that reignited the turf-vs.-grass debate among players. MetLife Stadium changed its surface — which had been widely criticized because of injuries — before this season. Dolphins running back Raheem Mostert was a member of the San Francisco 49ers when he was injured in 2020 and teammates Solomon Thomas, now with the Jets, and Nick Bosa both suffered season-ending injuries on the previous MetLife Stadium turf. We've got to do something about this turf and this playing surface.
Persons: Jevon Holland, Jaelan Phillips, Achilles, Phillips, I’ve, , Holland, Aaron Rodgers, Raheem Mostert, Solomon Thomas, Nick Bosa, Mostert, Rodgers, We've, ” Mostert, Mike McDaniel didn't, who'll, , ” Phillips, I’ll Organizations: MetLife, Dolphins, New York Jets, ” Jets, San Francisco 49ers, Jets, Twitter Locations: RUTHERFORD, N.J, Miami, New York
So when Banegas fled gang threats in Honduras once more in 2021, he set his sights not on the United States, but Mexico. He gets along with his Mexican coworkers, he said, and he's proud his six-month-old son, David, is a Mexican citizen. The vast majority of migrants who enter Mexico continue north toward the U.S., posing challenges for the Biden administration. U.S., Mexican and U.N. officials have called for regional cooperation to help migrants resettle in places such as Mexico, Costa Rica and Colombia, aiming to reduce illegal migration to the U.S. (Reporting by Daina Beth Solomon in Mexico City and Laura Gottesdiener in Saltillo; Editing by Christian Plumb and Suzanne Goldenberg)
Persons: Laura Gottesdiener, Beth Solomon, Walter Banegas, Banegas, Long, he's, David, Biden, Giovanni Lepri, Arturo Rocha, Jose Medina Mora, Fernando Hernandez, Kaitlyn, Hernandez, Daina Beth Solomon, Christian Plumb, Suzanne Goldenberg Organizations: United, Pace Industries, UNHCR, U.S, ASK Locations: Beth Solomon SALTILLO, Mexico, Mexican, Saltillo, Honduran, Honduras, United States, United Nations, Michigan, U.S, Haiti, Venezuela, El Salvador, Cuba, Costa Rica, Colombia, Texas, Monterrey, Chang's, Mexico City
This is not to say that her paintings all have the same enviable unity. Schutz attempts something similar in “The Gathering,” which can be read as an allegory of the art world. Nice sentiment, but when the man is a woman her reach for excellence can leave her stretched to death. The seven large-scale sculptures in the show, by the way, also abound with narrative incident, but lack the cleareyed vigor of the paintings. **Tracey Emin, the British artist and brand name, seems like the opposite of Dana Schutz.
Persons: Schutz, Gustave, Schutz’s, Courbet, , ogle, Robert Browning, Tracey Emin, Dana Schutz, Emin Locations: British
Many of the suspects were swept up in raids in Myanmar, in territories controlled by rebel armies, warlords and narcotics traffickers. Photo: Associated PressFor months, China has tried to break up cybercrime syndicates that operate from shadowy compounds across the border in neighboring countries and swindle people around the world. The scammers call the fraud “pig-butchering”: They “fatten” victims by gaining their trust online, convince them to transfer large sums of money and then “butcher” them by absconding with the loot.
Persons: fatten Locations: Myanmar, China
Binance mega-fine fits go-big-or-go-home vibe
  + stars: | 2023-11-22 | by ( Anita Ramaswamy | ) www.reuters.com   time to read: +3 min
NEW YORK, Nov 21 (Reuters Breakingviews) - Cryptocurrency is a precocious industry, in its lows as well as its highs. So it makes sense that Binance, the world’s largest crypto exchange, has agreed to pay a $4.3 billion fine for anti-money laundering, effortlessly surpassing penalties paid by miscreant financial firms that have been around for more than a century longer. Binance boss Changpeng Zhao, a kingpin of crypto and the man who precipitated the downfall of bankrupt rival FTX, pleaded personally guilty on Tuesday to criminal violations. HSBC (HSBA.L), (0005.HK) in 2012 agreed to pay $1.9 billion for its role in facilitating drug cartels’ money laundering. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Changpeng Zhao, FTX, Zhao, Binance, Al Qaeda, It’s, Goldman Sachs, Goldman, David Solomon, Sam Bankman, John Foley, Sharon Lam Organizations: Reuters, HSBC, HK, Malaysian, U.S . Treasury Department, Thomson Locations: Iran, North Korea, U.S
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