Truong My Lan, a Vietnamese property tycoon, was recently sentenced to death for her involvement in the country’s largest financial fraud case. The state media outlet Thanh Nien reported that Lan was found guilty of embezzlement, bribery, and violating banking rules around lending. The court sentenced her to death for the embezzlement charges and to
Buffalo Wild Wings recently celebrated the opening of its 100th Go location in New York City, marking a significant milestone for the chain. This quick-service offshoot allows customers to enjoy the brand’s famous chicken wings and classic menu items through delivery and takeout orders. The move is part of Buffalo Wild Wings’ efforts to enhance
Switzerland has recently introduced strict new banking regulations that are causing concern for UBS. These regulations have been put in place to tighten the oversight of banks deemed “too big to fail.” The government proposed 22 measures aimed at enhancing supervision, especially after the emergency rescue of Credit Suisse by UBS. The collapse of Credit
The Biden administration has set forth a plan to move forward swiftly with its student loan forgiveness program. With the aim of starting to alleviate people’s debts as early as this fall, the administration is taking decisive action. The program holds significant importance, particularly in the context of the upcoming presidential election, according to experts.
China’s commercial property sector has been experiencing a surprising surge in demand despite an overall slump in the real estate market. Beijing, the capital city, has witnessed an increase in rents for prime retail locations at the fastest pace since 2019. According to a report by property consultancy JLL, rents surged by 1.3% during the
In recent times, the markets have been faced with the challenge of interpreting consumer price index readings that show a hotter-than-expected trend, leading to increased volatility. One key aspect that has caught the attention of economists is the supercore inflation reading, which goes beyond the traditional core CPI by excluding shelter and rent costs. This
During the March meeting, Federal Reserve officials expressed their concern over the slow movement of inflation rates and the need to cut interest rates later in the year. While the Federal Open Market Committee voted to maintain short-term borrowing rates, policymakers were worried about the lack of a convincing decrease in inflation. The Fed has
The Federal Reserve is currently in no rush to lower its benchmark rate, despite earlier expectations of multiple cuts before the end of the year. Recent data, including a strong jobs report and a faster than expected increase in the consumer price index in March, indicate that inflation is staying stubbornly higher. As a result,
As tax season approaches, many Americans find themselves feeling unprepared to file their taxes. According to a recent survey, 1 in 4 Americans admit to not feeling ready, while a staggering 29% confess to procrastinating when it comes to filing their taxes. This can lead to a lot of stress and anxiety as the tax
New York Community Bank recently made headlines for offering the country’s highest interest rate for a savings account, standing at a staggering 5.55%. This move raised some eyebrows in the financial sector, with analysts speculating that it could be a sign of funding pressure for the regional lender. Ken Tumin, an industry expert, pointed out