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 […]
Shares of Zoom Video Communications, the developer of the cloud platform for video conferencing – soared by 25.5% after the close of the main trading session on August 31, to $ 408. Investors’ attention was drawn to the reports of companies for the second quarter of the current financial year (ended July 31). In three […]Next
An art lecturer who had a 25-year relationship and a son with a teenage student said he was not sure he loved her any more than his dog and dismissed her as a mere lodger. Kim Woodward was a talented 19-year-old design student when she fell for artist Rupert Ashmore, a Jaguar-driving 36-year-old lecturer at […]Next
The management of the Hungarian airline Wizz Air will close a branch in Kyiv, that has three passenger liners, if its employees do not agree to stop the union. This is stated in the statement of the European Transport Workers Federation ETF. According to the statment, the conflict began after the decision of Wizz Air […]Next
A few days ago between two companies was signed an agreement for $ 150 billion. It was the merger of two large companies – manufacturer of drugs and vaccines Pfizer and Allergan, which producing cosmetics and botox. The deal was struck not only to consolidate or improve its production system. The main reason for the […]Next
Ukrainian commercial organization McDonald’s Ukraine Ltd., owned by Golden Arches Eutopians Holdings B.V. Dutch company, has increased in the past year, investment in the improvement of the network of Ukrainian fast-food restaurants. As UNIAN reported earlier, the rate of investment rose by 23% which amounts to 270 million UAH. It is also known that in […]Next
Lego plans to open 120 new stores in 2020, according to Retail Gazette. The company reported sales growth in the first half of the year. In quarantine kits were very popular, in particular, among adult consumers. “About 80 new outlets will be located in China. Now the company has 612 stores worldwide,” – said Lego […]Next
On October 20, the Kyiv Art Gallery Tsekh hosted a presentation of the «Keep It Up!» project created by the artist and sculptor Yevgeny Petrov. The LDaily Business Edition became a media partner of this wonderful project, which highlights the theme of sport. The exhibition is currently open to the public and will be exhibited in the gallery until […]Next
Shares of cruise company Royal Caribbean, which decreased by 57% since the beginning of the year, rose for the last quarter and closed with an increase of 10% to $ 57.31 per share on Monday after the publication of the financial results of the second quarter. Investor`s optimism is based on Royal Caribbean management’s statements […]Next
The European Bank for Reconstruction and Development (EBRD) expects the means amount reduction which has invested in the Ukrainian economy. According to “European truth” newspaper, Sergey Guriev,the chief economist of the EBRD, told about it in his interview. He explained:”Really, our volume of investment this year will have been less than previous as we don’t […]Next
On December 18 at 23:30 p.m. it was posted the information on the site of the Governmental portal of Ukraine that on December 19, 2016, the PJSC Privatbank goes into 100 % ownership of the state. The text of the statement also reports that the decision was made at the meeting of the Cabinet of […]Next
Big changes are planned in the US Gannett company which decided to coordinate the work of their local and national brands in a new group called USA TODAY NETWORK. On Thursday, December 3, 2015 American media company Gannett announced the merger of its brands in the USA TODAY NETWORK group to improve the quality of […]Next
Chinese internet giant Tencent Holdings has made an offer to buy Leyou Technologies Holdings, which estimates this video game developer at 11.61 billion Hong Kong dollars ($ 1.5 billion), writes The Wall Street Journal. Tencent plans to pay for the full transaction with money, without attracting outside funding, and is willing to pay $ 3.3219 […]Next
Despite the unstable political and economic situation in the country, in 2015 it was recorded a large influx of investments in Ukrainian projects from the west. New companies are increasingly attracting foreign investors. The UVCA association recently reported on the results. The UVCA is an association of local and international investors. According to the UVCA […]Next
Recently, it became known that the degrouping of the HarvEast company from its assets took place in March in Crimea, – says the press service of the company. “The decision to sell the assets of the HarvEast on the peninsula was rendered in 2013 due to the fact that this area belongs to the high-risk […]Next
The “Global Kamianka Vine” company ceased the production of wines under the TM “Massandra” according to the request of the Ministry of Agrarian Policy and Food of Ukraine. This is stated in the message of the Ministry of Agrarian Policy and Food of Ukraine. Before holding a competitive tender for procurement of rights for using […]Next
The opening of the plant of the Fujikura company in Ukraine should be a strong signal to all investors willing to believe in our country. The President of Ukraine Petro Poroshenko wrote about this in his Twitter after the opening of the new plant of Fujikura in village Pidryasne near Lviv. “You will not find […]Next