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Asia apparel hubs face $65 billion export hit from extreme weather, study shows
Asia apparel hubs face $65 billion export hit from extreme weather, study shows
By Tommy Wilkes LONDON Extreme heat and flooding could erase $65 billion in apparel export earnings from four
2023-09-13 07:25
China food delivery firm Meituan's Q3 revenue beats estimates
China food delivery firm Meituan's Q3 revenue beats estimates
By Casey Hall SHANGHAI (Reuters) -China's Meituan posted a bigger-than-expected 22.1% rise in third-quarter revenue on Tuesday, as the country's
2023-11-28 17:17
Key Fed official sees possible 'golden path' toward lower inflation without a recession
Key Fed official sees possible 'golden path' toward lower inflation without a recession
Austan Goolsbee, president of the Federal Reserve Bank of Chicago, suggested that the economy appears to be on what he calls the “golden path,” another term for what economists often term a “soft landing,” in which the Fed would curb inflation without causing a deep recession
2023-11-21 04:18
Column-Funds build biggest short dollar position since March 2021: McGeever
Column-Funds build biggest short dollar position since March 2021: McGeever
By Jamie McGeever ORLANDO, Florida Hedge funds have ramped up their bearish dollar bets by more than $7
2023-07-24 11:22
FCPS and Battelle Announce $50,000 in STEM Grants
FCPS and Battelle Announce $50,000 in STEM Grants
FREDERICK, Md.--(BUSINESS WIRE)--May 8, 2023--
2023-05-09 02:48
Citi names Gutiérrez-Orrantia Europe banking and cluster head in restructure
Citi names Gutiérrez-Orrantia Europe banking and cluster head in restructure
By Andres Gonzalez LONDON Nacho Gutiérrez-Orrantia, one of Citi's most senior bankers in Europe, will become banking and
2023-11-20 22:53
Actor Tom Hanks warns of ad with AI imposter
Actor Tom Hanks warns of ad with AI imposter
Actor Tom Hanks and CBS talk show co-host Gayle King on Monday were warning fans about ads featuring imposters...
2023-10-03 10:16
Analysis-City distances itself from hedge fund boss Odey in tentative #MeToo shift
Analysis-City distances itself from hedge fund boss Odey in tentative #MeToo shift
By Nell Mackenzie, Sinead Cruise and Naomi Rovnick LONDON Big banks and investors quickly sought to distance themselves
2023-06-10 14:23
Skin Pharm Receives $15 Million Investment From Prelude Growth Partners
Skin Pharm Receives $15 Million Investment From Prelude Growth Partners
NASHVILLE, Tenn.--(BUSINESS WIRE)--May 16, 2023--
2023-05-16 20:15
FEELM and RELX international Launch First Whole Chain Recycling Scheme for Disposable Vapes in the UK
FEELM and RELX international Launch First Whole Chain Recycling Scheme for Disposable Vapes in the UK
LONDON--(BUSINESS WIRE)--May 22, 2023--
2023-05-22 19:58
George Santos pleads not guilty to duping donors, stealing campaign cash to burnish wealthy image
George Santos pleads not guilty to duping donors, stealing campaign cash to burnish wealthy image
U.S. Rep. George Santos, the New York Republican infamous for fabricating his life story, pleaded not guilty Wednesday to charges he duped donors, stole from his campaign and lied to Congress about being a millionaire, all while cheating to collect unemployment benefits he didn't deserve. Afterward, he said wouldn't drop his reelection bid, defying calls to resign. Santos' 13-count federal indictment was a reckoning for a web of fraud and deceit that prosecutors say overlapped with his fantastical public image as a wealthy businessman — a fictional biography that began to unravel after he won election last fall. Santos, 34, was released on $500,000 bond following his arraignment, about five hours after turning himself in to authorities on Long Island to face charges of wire fraud, money laundering, theft of public funds and making false statements to Congress. He could face up to 20 years in prison if convicted. “This is the beginning of the ability for me to address and defend myself,” Santos told reporters afterward, vowing to clear his name and calling his prosecution a “witch hunt.” Santos had said little during his arraignment, which lasted about 15 minutes. His lawyer, Joseph Murray, asked the judge for permission for Santos to travel freely for his campaign, though he did surrender his passport. Santos said he was returning to Washington for votes Thursday. Among the allegations, prosecutors say Santos induced supporters to donate to a company under the false pretense that the money would be used to support his campaign. Instead, they say, he used the money for personal expenses, including designer clothes and his credit card and car payments. Santos also is accused of lying about his finances on congressional disclosure forms and applying for and receiving unemployment benefits while he was employed as regional director of an investment firm that the government shut down in 2021 over allegations that it was a Ponzi scheme. The indictment “seeks to hold Santos accountable for various alleged fraudulent schemes and brazen misrepresentations,” U.S. Attorney Breon Peace said. “Taken together, the allegations in the indictment charge Santos with relying on repeated dishonesty and deception to ascend to the halls of Congress and enrich himself." Reached by The Associated Press on Tuesday, Santos said he was unaware of the charges. Santos has defied calls to resign — some from fellow Republicans — as details of his fictitious resume came to light, though he did decline his committee assignments. He has given no indication that he plans to step aside because of his indictment. In the past, members of Congress in both parties have remained in office while facing charges. Santos, 34, was elected to Congress last fall after a campaign built partly on falsehoods. He told people he was a wealthy Wall Street dealmaker with a substantial real estate portfolio who had been a star volleyball player in college, among other things. In reality, Santos didn't work at the big financial firms he claimed had employed him, didn't go to college and struggled financially before his run for public office. He claimed he fueled his run largely with self-made riches, earned from brokering deals on expensive toys for wealthy clients, but the indictment alleges those boasts were also exaggerated. In regulatory filings, Santos claimed he loaned his campaign and related political action committees more than $750,000, but it was unclear how he would have come into that kind of wealth so quickly after years in which he struggled to pay his rent and faced multiple eviction proceedings. In a financial disclosure form, Santos reported making $750,000 a year from a family company, the Devolder Organization, but the charges unsealed Wednesday allege that Santos never received that sum, nor the $1 million and $5 million in dividends he listed as coming from the firm. Santos has described the Devolder Organization as a broker for sales of luxury items like yachts and aircraft. The business was incorporated in Florida shortly after Santos stopped working as a salesman for Harbor City Capital, the company accused by federal authorities of operating an illegal Ponzi scheme. In November 2021, Santos formed Redstone Strategies, a Florida company that federal prosecutors say he used to dupe donors into financing his lifestyle. According to the indictment, Santos told an associate to solicit contributions to the company and gave the person contact information for potential donors. Emails to prospective donors falsely claimed that the company was formed “exclusively” to aid Santos’ election bid and that there would be no limits on how much they could contribute, the indictment said. Santos falsely claimed that the money would be spent on television ads and other campaign expenses, it said. Last October, a month before his election, Santos transferred about $74,000 from company coffers to bank accounts he maintained, the indictment said. He also transferred money to some of his associates, it said. Many of Santos' fellow New York Republicans called on him to resign after his fabricated life story was revealed. Some renewed those calls after news of his indictment. "Sooner or later, whether he chooses to or not, both the truth and justice will be delivered to him,” said U.S. Rep. Marc Molinaro, a Republican representing parts of upstate New York. Sen. Mitt Romney, a Utah Republican who confronted Santos at President Joe Biden's State of the Union address in February, said Santos should have resigned a long time ago. “I think we’re seeing that the wheels of justice grind slow, but they grind fine,” Romney said. House Republican leaders Kevin McCarthy and Steve Scalise were more circumspect, saying Santos deserved a presumption of innocence until proven guilty. Santos has faced criminal investigations before. When he was 19, he was the subject of a criminal investigation in Brazil over allegations he used stolen checks to buy items at a clothing shop. Brazilian authorities said they have reopened the case. In 2017, Santos was charged with theft in Pennsylvania after authorities said he used thousands of dollars in fraudulent checks to buy puppies from dog breeders. That case was dismissed after Santos claimed his checkbook had been stolen, and that someone else had taken the dogs. Federal authorities have separately been looking into complaints about Santos' work raising money for a group that purported to help neglected and abused pets. One New Jersey veteran accused Santos of failing to deliver $3,000 he had raised to help his pet dog get a needed surgery. ___ Farnoush Amiri in Washington and Alanna Durkin Richer in Boston contributed to this report. ___ On Twitter, follow Jake Offenhartz at twitter.com/jangelooff and Michael Sisak at twitter.com/mikesisak and send confidential tips by visiting https://www.ap.org/tips/ ___ Follow the AP's coverage of U.S. Rep. George Santos at https://apnews.com/hub/george-santos. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide Kevin McCarthy says he won’t support George Santos’s re-election bid after all The 13 counts New York representative George Santos faces McCarthy says he will not back George Santos re-election bid after arrest – live
2023-05-12 01:18
Russia's ruble hits a 17-month low to the dollar as the Ukraine war bites
Russia's ruble hits a 17-month low to the dollar as the Ukraine war bites
The ruble hit a 17-month low against the dollar Monday, highlighting the growing squeeze on Russia's economy from Western sanctions and a slump in export revenues.
2023-08-14 16:20