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Business News

Location American Business News for 5 March 2019

Facebook veteran: Banks have big AML blind spot

American Banker - 5 Mar 2019 20:35
Criminals are inventing new ways to hide dirty money amid transactions for digital goods bought and sold on everything from Amazon to game-app sites. Banks need to wake up to the threat, says Ben Duranske, Facebook Payme...
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A gauge of world stock markets recovered from early declines but was slightly lower on Tuesday as China cut its growth targets to a 30-year low but added more stimulus, while strong U.S. economic data sent the dollar to ...
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State officials propose Pioneer Home rate increases

Miami Herald - 5 Mar 2019 20:31
State officials are proposing rate increases of between 40 percent and nearly 140 percent for residents of Alaska's state-supported elder-care facilities. Clinton Lasley is the director of the division overseeing …
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Oil fell towards $65 a barrel on Tuesday, pressured by the restart of Libya's biggest oilfield and on expectations for an increase in U.S. crude inventories.
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Disney CEO Bob Iger agrees to cut future pay by nearly $13.5B Walt Disney Co. said Monday that Chief Executive Bob Iger has agreed to slash his future pay by up to $13.5 million, including cuts to his performance-based pay. The Mouse House revealed it had decreased to $35 million w...
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Verizon Media to Shutter Oath Ad Server

AdWeek - 5 Mar 2019 02:35
Verizon Media to Shutter Oath Ad Server Verizon Media will close its Oath Ad Platform ad server next year as part of the telco unit's strategic review of the business, Adweek has learned. The strategic review was first revealed publicly at the end of 2018. Acc...
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First Defiance in Ohio hires outsider to run its bank

American Banker - 5 Mar 2019 20:49
Vince Liuzzi previously served as chief banking officer at DNB First in Pennsylvania.
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"QAnon: An Invitation to the Great Awakening," a book pushing wacky conspiracy theories, has become an Amazon best-seller, cracking the top 75 of books sold on the site in recent days, according to NBC News.
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UMB to buy corporate trust business in Iowa

American Banker - 5 Mar 2019 18:16
The company will open its first office in Iowa after buying the business from Bankers Trust.
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Sum Up The Pieces: The iShares U.S. Healthcare ETF Could Be Worth $217 For the iShares U.S. Healthcare ETF, we found that the implied analyst target price for the ETF based upon its underlying holdings is $216.68 per unit.
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The decision shows how hard it is to prosecute an individual banker; reports say Nordea, the Nordic area's largest bank, handled suspicious transactions.
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Ghosn is charged with falsifying financial reports by under-reporting compensation that he contends was never paid or decided upon.
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Aiming to crack down on money laundering and bribes to overseas governments, the FBI is stepping up its efforts to root out foreign corruption with a new squad of agents …
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The National Security Agency is considering ending a once-secret surveillance program that annually collects hundreds of millions of telephone call records, including those belonging to Americans, because it lacks operat...
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CFPB's payday rule rollback sows confusion

American Banker - 5 Mar 2019 04:00
The industry cheered the bureau's proposed repeal of its ability-to-repay requirement, but another part of the rule -- on account debit restrictions -- was left intact, and some companies aren't ready to comply.
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Mega Millions winner of $1.5B jackpot comes forward: Why they chose the lump sum The $1.5B Mega Millions jackpot winner chose to get paid in a lump sum. Here's a breakdown of why that makes sense.        
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N3twork is introducing a platform for scaling third-party mobile games today in an effort to expand its business in mobile games.
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'Ghost employees' help woman evade federal taxes

Miami Herald - 5 Mar 2019 17:57
A former Connecticut woman has pleaded guilty to creating "ghost employees" for her home health care staffing agency in order to avoid paying taxes. Federal prosecutors say 57-year-old Theresa Foreman, …
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U.S. stocks opened little changed on Tuesday, as investors awaited fresh developments in the U.S.-China trade talks.
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Major in marijuana! This university is offering cannabis classes Hundreds of students at Northern Michigan University have enrolled in a new four-year degree program in medicinal plant chemistry. Buzz60's Sean Dowling has more.        
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BMW could move some production of engines and its Mini model out of Britain if the country does not secure an orderly departure from the European Union, the German carmaker said on Tuesday, in the latest Brexit warning f...
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This Fintech Makes Banks Like RBC More Profitable RBC is getting more consumers to open accounts and deepening those relationships thanks to a fintech that helps consumers save more money. Will this create upside surprise for RBC investors?
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