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1 Article
Source: CBS News

USA Gymnastics bankruptcy called "delay tactic" as whistleblower slams inaction on sex abuse

Friday 03:20 GMT

USA Gymnastics filed a Chapter 11 bankruptcy petition on Wednesday in a bid that the embattled organization said is an effort to move it and the sport forward.

One former USA Gymnastics board member and Nassar whistleblower said USA Gymnastics is no closer to protecting what matters most: its athletes. "I don't see how anybody can trust that organization to run the sport of gymnastics," said Jessica Howard, a former team USA gymnast and board member.

1 Article
Source: CBS News

Billionaire who led Sears into bankruptcy offers to buy it

Friday 17:17 GMT

Yet by 2016 Sears was locked in a vicious cycle of declining revenue and mounting debt, as customers defected from stores viewed as outdated and stocked with less-than-enticing merchandise.

Lampert and his hedge fund, ESL Investments, said in a regulatory filing on Thursday that he plans to offer $4.6 billion in cash and stock to buy all of Sears, a move he said could save 50,000 jobs. "Sears is an iconic fixture in American retail, and we continue to believe in the company's immense potential to evolve and operate profitably as a going concern with a new capitalization and organizational structure," Lampert, who remains chairman of the board at Sears, said in a statement.

1 Article
Source: CTV

Canada will feel oilpatch pain, but likely won't be as bad as 2015: Poloz

Friday 11:46 GMT

The negative impacts of low oil prices that have struck Western Canada will reverberate across the entire national economy, the head of the Bank of Canada said Thursday.

Poloz added that he remains hopeful that business investment will rebound now that much of the uncertainty surrounding the North American free trade has been eased following the signing of a new agreement between the United States, Mexico and Canada.

1 Article
Source: The Guradian

Brazil: at least 12 killed in shootout during attempted bank robbery

Saturday 20:00 GMT

At least 12 people, including two children, were killed on Friday when a shootout broke out between police and bank robbers attempting to blow up ATMs, according to authorities in north-eastern Brazil.

She said the attempted night-time robbery was interrupted by a police unit that had been tracking a gang responsible for similar bank robberies in the area, in which explosives were used to blow apart automatic teller machines.

1 Article
Source: Common Domain

Knowledge Gap Hinders Compliance Innovation, Observers Say

Friday 21:52 GMT

An apparent knowledge and talent gap is holding back the development of technological innovation in anti-money-laundering compliance, speakers at an event hosted by Dow Jones Risk & Compliance and The Wall Street Journal said Thursday.

Aaron Karczmer, chief risk, compliance and security officer of payments company PayPal Holdings Inc., said that regulators coming together to push innovation is important from a messaging perspective, as well as a directional one.

1 Article
Source: Common Domain

HSBC Monitor Flagged Suspicious Huawei Transactions to Prosecutors

Saturday 01:32 GMT

A federally appointed overseer at HSBC Holdings HSBC -3.62% PLC flagged suspicious transactions in the accounts of Huawei Technologies Co. to prosecutors seeking the extradition of the Chinese company’s finance chief, people familiar with the matter said.

A monitor charged with evaluating HSBC’s anti-money-laundering and sanctions controls in recent years relayed information about the Huawei transactions to federal prosecutors in the Eastern District of New York, the people said.

1 Article
Source: Common Domain

My husband grew up dirt poor and doesn’t believe in insurance or banks, yet he racked up $7,000 on my credit card

Saturday 20:54 GMT

You husband may be beyond hope, but explain to him that for someone who doesn’t believe in debt, he shouldn’t have racked up $7,000 on your credit card.

A $7,000 credit balance with an 18% annual rate, with a minimum payment of 2% of the balance, or $10, whichever is greater, would take 188 months or just nearly 16 years to pay off. Making minimum payments on your credit card is a long road to nowhere, and making no payments will lead to debt collectors and more stress.

1 Article
Source: BBC

Maurizio Sarri: Chelsea manager's journey from banker to Premier League

Saturday 20:00 GMT

During his years as an amateur footballer, player-manager and then manager, Maurizio Sarri, now 59, worked for a bank - Banca Toscana.

In the early 2000s, over a decade after his first job in coaching, Sarri decided to quit his job as a banker and focus full-time on football.

1 Article
Source: Reuters

Breakingviews-Trade truce gives China room to loosen up

Saturday 07:01 GMT

Officials at the People’s Bank of China, eager to foster growth, have other monetary policy levers they can pull, like interbank rates or the amount lenders must hold in reserve.

The agreement hashed out between the U.S. and China at the G20 meeting, postponing a planned U.S. tariff hike on $200 billion of Chinese goods, caused the onshore yuan to strengthen from about 6.96 to the dollar on Nov. 30 to nearer 6.88 on Thursday.

1 Article
Source: Global News

U.S. investigating Huawei over suspicions of bank fraud, violating Iran sanctions: sources

Friday 20:57 GMT

Chinese telecom giant Huawei Technologies Co. Ltd.’s chief financial officer was arrested as part of a U.S. investigation of an alleged scheme to use the global banking system to evade U.S. sanctions against Iran, according to sources familiar with the probe.

The United States has been looking since at least 2016 into whether Huawei Technologies Ltd. violated U.S. sanctions against Iran. More recently, the probe has included the company’s use of HSBC Holdings Plc to make illegal transactions involving Iran.

1 Article
Source: CTV

Jobless rate down to 40-year low: StatCan

Saturday 13:37 GMT

Last month's increase pushed the jobless rate down from October's reading of 5.8 per cent, which had been the previous low mark since comparable data first became available in 1976.

Here are the jobless rates last month by province (numbers from the previous month in brackets):. Here are the jobless rates last month by city (numbers from the previous month in brackets):

1 Article
Source: The Guradian

The Old Man & the Gun review – Robert Redford bows out in a feelgood crime caper

Friday 10:51 GMT

Robert Redford bows out of his legendary movie-acting career at the age of 82 with this homely, folksy, feelgood-bittersweet dramedy: a slightly gussied-up version of a startling true story.

Forrest Tucker, played here by Redford, was a bank robber and serial prison-escaper who around the turn of this century hit the headlines as a dapper seventysomething by pulling off a series of bank heists, always impeccably courteous and well-dressed, flashing the gun inside his jacket to the astonished bank teller who would be almost hypnotised by his casual aplomb.


“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte