Hwang had been convicted in July on 10 criminal charges including wire and securities fraud, market manipulation. Former billionaire investor Sung Kook “Bill” Hwang has been sentenced to 18 years in prison over the collapse of Archegos Capital Management, which cost Wall Street banks more than $10bn. Hwang was sentenced…
Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. On Wednesday authorities charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani…
Comcast will spin off many of its cable television networks that were once at the heart of the entertainment giant as people increasingly swap out their cable TV subscriptions for streaming platforms. Those one-time stars of Comcast’s NBCUniversal cable television networks include USA, Oxygen, E!, SYFY and the Golf Channel…
Spirit Airlines, the no-frills US travel pioneer, has filed for bankruptcy protection after struggling with years of losses, failed merger attempts and heavy debt levels, the company said. The Florida-based airline said on Monday that it had pre-arranged a deal with its bondholders to restructure its debts and raise money…
US President-elect Donald Trump’s transition team is planning to kill a $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, Reuters news agency has reported, citing two sources with direct knowledge of the matter. Ending the tax credit could have grave implications for an already stalling…
The Fed will have to navigate a changing economic landscape with the election of Donald Trump as the next US president. The United States Federal Reserve has cut interest rates by a quarter of a percentage point as policymakers took note of a job market that has “generally eased” while…
Caution prevailed on Monday as the winner of the tightly contested presidential election may be unknown for days. United States stock indexes were trading flat to lower on Monday, as investors braced for a pivotal week for global markets in which Americans will elect a new president and the Federal Reserve…
Early voting is under way across the United States ahead of Tuesday’s presidential election. Republican candidate Donald Trump and Democratic candidate Kamala Harris have both made last-minute efforts to court union voters – a core voting bloc, especially in swing states like Michigan, where groups like the United Auto Workers…
Former cryptocurrency executive Nishad Singh, who once shared a $35m Bahamas penthouse with FTX founder Sam Bankman-Fried, has been spared prison time by a judge for his role in the theft by his imprisoned former boss of about $8bn in customer funds from the now-bankrupt exchange. During a hearing in…
Reyna Aguilar was working as a chef in a restaurant in San Francisco’s Mission neighbourhood when the COVID pandemic struck. The restaurant shut within months, leaving Aguilar worrying about how she would make rent on the studio apartment she had lived in for nearly a decade. When the government announced…
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