Right away three the U.S. agencies announced on Tuesday, Sept. 29, to reach the agreement with JPMorgan Chase for the end of the criminal prosecution of the bank in exchange for the payment of multimillion fines. In total, the company must pay the US government more than $ 920 million.
Statement from the Freight Exchange Commission (CFTC) said that the bank has been involved in the illegal manipulation of precious metals prices and the futures contracts of the Ministry of Finance for at least eight years, creating “thousands of orders” to buy / sell the above assets, which no one was going to perform. Such practice was banned in the United States in 2008, immediately after the onset of the global financial crisis. However, the US bank continued to use it for its own benefit said in a statement by the Commission. At the same time, the Securities and the Exchange Commission and the US Department of Justice announced the termination of the prosecution in exchange for a fine.
As the conclusion, JPMorgan Chase will pay the largest fine in CTFC history for the manipulations of this kind. Mentioned amount includes of $ 311.7 million in damages (also the largest fine), $ 172 million as the refund to the state of all proceeds from illegal agreements and $ 436.4 million fine to the civil lawsuits.
On Tuesday, JPMorgan Chase announced the launch of its mobile payment service QuickAccept, and on Wednesday, Visa launched its application called Tap to Phone. The purpose of both programs is to offer sellers an easy way to accept contactless payments from customers via a smartphone or tablet. According to Visa, in the context of the […]
A subsidiary of Alibaba Group – Ant Group – plans to attract $ 35 billion in the course on the Shanghai and the Hong Kong exchange. This was reported by Bloomberg. The IPO could be the largest in history, the agency emphasizes. The previous record holder, Saudi oil company Aramco, raised $ 29.4 billion. The […]
Quotes of some international banks began to fall after the leakage of FinCEN files. This was reported by the publication Ukrainian Capital with reference to the auction data. The files contain information on suspicious transactions worth $ 2 trillion through the world’s largest banks. Shares of Deutsche Bank, which, according to FinCEN files, conducted transactions […]
JPMorgan shares increased because of the announcement of financial results for the 2nd quarter ended on June 30. Since the beginning of the year, JPMorgan shares have lost almost 30% because the global COVID-19 pandemic has hit the global economy, and the US Federal Reserve has cut rates to zero greatly reducing the profitability of […]
Good news from products company Lantmannen AXA was not long in coming! Company asked consumers: “What ingredients do you add most often to granola?” One of the most popular answers is nuts. We launched Super nuts Granola! The design has acquired the corporate style of the AXA Granola line. In combination with oatmeal, crispy honey […]
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The world’s largest producer of alcohol, the British Diageo has initiated arbitration proceedings with the French luxury goods manufacturer LVMH Moet Hennessy – Louis Vuitton SA due to non-payment of dividends in the amount of 181 million euros in 2019. Diageo owns 34% in the joint venture with LVMH for the production of alcoholic beverages […]
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International Court of Arbitration in New York in a dispute between the UMH – the Ukrainian publisher of “Forbes Ukraine” magazine, and the Forbes Media, LLC American publishing house ruled in favor of the latter on April, 20, and revoked the license of Forbes Ukraine, said in Forbes Media, LLC to the publication LІGA.net UMH […]
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Ukrainian citizens have started receiving National Cashback payments for August, which have reached a record amount since the program’s launch, according to the press service of the Diia app. The total payout amounted to ₴509 million, distributed among more than 3.6 million Ukrainians. These are funds citizens earned by purchasing domestically made goods — in […]
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On Thursday, Advanced Micro Devices Inc. has introduced the long-awaited line of four next-generation Ryzen 5000 series CPUs for the desktop PCs, based on the new Zen 3 architecture. Ryzen 5000 series products are based on the 7-nm manufacturing process of the Taiwan Semiconductor and designed for the computer gamers and the content creators. AMD […]
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The US Federal Aviation Administration (FAA) has ordered the state airline to inspect about 2,500 Boeing 737 aircraft for defective relays and cabin pressure drops. “An undetected failure of both relays could slow the crew’s detection of insufficient cabin pressure and result in the crew losing their ability to work due to hypoxia and, as […]
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The European Bank for Reconstruction and Development (EBRD) has revised down its forecast for Ukraine’s real GDP growth in 2025 from 3.3% to 2.5%, while keeping its 2026 forecast unchanged at 5.0%, conditional on the end of the war with Russia. The update was published in the EBRD’s latest economic report. “Ukraine’s GDP growth is […]
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Ukraine will allocate 2.6 billion hryvnias for the purchase of a coronavirus vaccine. This was stated by Finance Minister Serhiy Marchenko at the press conference on Monday, September 14. “By 2023, we have a real opportunity to ensure health care spending at 5%. There is an increase in 2021 to 4.2% of GDP for health […]
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OnlyFans owner Leonid Radvinsky has received record dividends of $701 million, Bloomberg reports. The record payout was revealed in filings from London-based Fenix International Ltd., which operates the platform, amid speculation about a possible sale of the business valued at up to $8 billion. As of the end of 2024, transactions on the platform reached […]
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Recently, the Antimonopoly Committee of Ukraine allowed the company NAP II Holdings B.V. (Netherlands), controlled by the NCH Capital (USA) to acquire more than 50% of the shares of two agricultural enterprises in the Khmelnitskyi region. This is stated on the AMCU website. The permission granted for the purchase of the shares of the companies […]
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This year, Russia is selling gas to China at a nearly 40% discount, according to The Moscow Times, citing data from Russia’s Ministry of Economic Development. In the ministry’s baseline forecast, the average price of Russian gas for exports to distant foreign markets (excluding China)—namely Turkey and the remaining European countries—will amount to $356.7 per […]
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The owner of the largest online store Rozetka.ua, Vladislav Chechetkin accused the retailer “Epicenter” which is developing a network of building supermarkets, in the non-competitive behavior and pressure on suppliers. “Epicenter” for a long time, probably two years, requires the suppliers not to sell the goods in Rozetka.ua. This solicitation sounds like: if your product […]
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According to the preliminary information, the official start of the Uber in Ukraine will take place in Kiev in the first quarter of this year and perhaps in Lviv. As told L?GA.net consultant on site Uberlin (the mediator of the company), a preliminary recruitment of drivers is opened. “Our company has experience with Uber in […]
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Global trade turnover in 2020 will decrease by 7-9%. This was announced on Wednesday, October 21, by the RBC-Ukraine news agency with reference to the report of the UN Conference on Trade and Development UNCTAD. The decline in trade has occurred in all regions of the world due to quarantine restrictions, the report said. They […]
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In December, Volkswagen expects more changes. December 7, 2015 the company went to Qatar, where they had meeting with one of its main investors, Qatar Investment Authority. Volkswagen representative Eric Felber pointed out that the visit is devoted to restructuring and improving the management and the most important shareholders should express their opinion on this […]
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Participating FIS client banks will be able to send and receive large-ticket international corporate payments quickly and securely KYIV – May 15, 2019 – Visa Inc. (NYSE:V) and FIS are joining forces to enable FIS’ commercial financial institution clients to quickly and securely access the Visa B2B Connect platform globally*. Visa B2B Connect will be […]
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