AFP
13876 articles published since 08 Mar 2022
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US agency orders Wells Fargo to pay $3.7 bn for shoddy banking practices
US officials announced Tuesday a $3.7 billion settlement with Wells Fargo over an array of "illegal activity" that burdened customers with wrongful home foreclosures and other problems. Wells Fargo will pay $2 billion to compensate customers and $1.7 billion in civil fines under a Consumer Financial Protection Bureau settlement that the agency said pertained to some 16 million consumer accounts.
Amazon strikes deal with EU to close anti-trust probes
Online retail giant Amazon has reached an agreement with the European Commission to close two inquiries into anti-competitive tactics, notably using third-party seller data to improve its own sales. Amazon, and its software, will be forbidden from analysing non-public third-party seller data, and will treat all sellers equally when deciding which offer to put in the best screen location.
UK fines TSB Bank nearly £50 million for IT fail
British regulators on Tuesday said they had fined TSB Bank £48.7 million ($59 million) over an IT upgrade that left customers unable to access services. The fine was handed down in conjunction with another British watchdog, the Prudential Regulation Authority.
Ghana labour unions call for strike over local debt swap
Ghana's main unions on Monday called for a nationwide strike from next week in protest against the inclusion of workers' pensions in a local debt swap programme as part of the terms for an IMF credit.
Hong Kong exchange headed to worst IPO finish in a decade
Hong Kong's stock exchange is on track for its weakest year since 2012 for new listings as the city reeled from the pandemic, rising interest rates and China's economic uncertainty, according to data released Tuesday.
'Asterix' takes on new writer for 2023 instalment
Popular French comic book series "Asterix" will turn a new page for its forthcoming 40th volume, with a new writer chosen to pen next year's instalment, the publisher said Tuesday. Before the Asterix series, there was no history of comics having a scriptwriter.
World Bank slashes China growth forecasts on Covid woes, property crisis
The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy. "Economic activity in China continues to track the ups and downs of the pandemic -- outbreaks and growth slowdowns have been followed by uneven recoveries," the World Bank said.
World Bank slashes China growth forecasts
The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy. "Economic activity in China continues to track the ups and downs of the pandemic -- outbreaks and growth slowdowns have been followed by uneven recoveries," the World Bank said in a press release.
Japan central bank tweaks monetary policy, yen strengthens
Japan's central bank tweaked its longstanding monetary easing programme on Tuesday, in a surprise move that saw the yen strengthen quickly against the dollar while Tokyo stock markets fell. The move saw the yen strengthen rapidly against the dollar, with the greenback falling from a daily high of 137 yen to 133 within minutes of the decision.
AFP
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