ED attaches Rs 90-crore assets of road construction firm in bank fraud

Assets worth more than Rs 90 crore of a Hyderabad-based road construction company have been attached under the anti-money laundering law in a case linked to an alleged bank loan fraud, the Enforcement Directorate (ED) said on Saturday. A provisional order was issued on Thursday under the Prevention of … Read more

Bob Diamond’s private equity firm raises funding from Qatar

The private equity group of former Barclays chief executive Bob Diamond has struck a deal with Qatar to fund a new distressed asset vehicle. Atlas Merchant Capital, which was co-founded by Diamond almost a decade ago, has received a non-binding commitment of $100mn from the Qatar Financial Centre (QFC), the Doha-based site through which international … Read more

Proxy firm ISS said to favor Frontier takeover of Spirt Airlines after increased bid

JillianCain/iStock Editorial via Getty Images Spirit Airlines (NYSE:SAVE) shareholders should vote to approve Frontier’s Group (NASDAQ:ULCC) revised takeover offer for ultra-low cost carrier after Frontier increased its bid on Friday, proxy firm ISS recommended. Frontier’s revised offer is “preferable” to JetBlue’s (NASDAQ:JBLU) as it matches JBLU’s protection related to regulatory failure and the increase in … Read more

Exclusive-Copper giant Codelco sees ‘very firm’ copper price ahead despite recent drop

© Reuters. FILE PHOTO: Maximo Pacheco, Chile’s then-Energy Minister, speaks at the Chilean congress in Valparaiso, Chile May 17, 2016. REUTERS/Rodrigo Garrido By Fabian Cambero SANTIAGO (Reuters) – Chilean state-owned miner Codelco, the world’s top producer of the red metal, sees a firm copper price ahead despite a recent sharp fall, chairman of the board … Read more

Copper giant Codelco sees ‘very firm’ copper price ahead despite recent drop – chairman

Breadcrumb Trail Links PMN Economy PMN Business Author of the article: Publishing date: Jun 26, 2022  •  22 minutes ago  •  2 minute read  •  Join the conversation Article content SANTIAGO — Chilean state-owned copper miner Codelco, the world’s top producer of the red metal, sees a firm copper price ahead despite a recent sharp fall, … Read more

US crypto firm Harmony hit by $100 million heist

(Reuters) — U.S. crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers.   Harmony develops blockchains for so-called decentralized finance — peer-to-peer sites that offer loans and other services without the traditional … Read more

‘Well-to-Do’ Investment Firm Head Charged in $300,000 South Florida Insurance Fraud

New You can now listen to Insurance Journal articles! The head of a small, South Florida investment firm has been charged with insurance fraud after he submitted a $300,000 roof-leak claim to his insurer, American International Group, along with allegedly fake photos of mold and other damage to his house. Michael DeGeorge, 38, of Palm … Read more

Firm claims it’s “blind” to appraisal bias

The AVM trend does offer good news as posited by the Urban Institute in that the models “…may reduce racial bias in home values appraisers have estimated,” Urban institute authors wrote in their paper. “Hypothetically, reducing human input should reduce racial disparities in property valuations,” the authors wrote. “But a previous paper we wrote suggested … Read more

Agnipath: Govt stands firm on roll out, lull after storm in states

With the government standing its ground on the contentious ‘Agnipath’ scheme for short-term recruitment in the armed forces, the three services of the military on Sunday came out with a broad schedule of enrolment under the new policy and warned those who indulged in violence and arson will not be inducted. … Read more