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New York (AFP) - Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008. Following the swift collapse of Silicon Valley Bank and Signature Bank, there have been fears that regional lender First Republic Bank could be the next domino to fall -- despite moves by agencies like the Treasury Department and Federal Reserve to assure SVB and Signature's depositors. While First Republic is not yet out of the woods, it was given a lifeline on Thursday as 11 major US b...
AFP
New York (AFP) - American digital media platform Ozy will shut down after accusations its leaders had deceived investors and the public about the size of its audience, local news outlets reported Friday. Launched in 2013 by former cable news anchor Carlos Watson, the brand secured millions of dollars in investor funding and a number of high-profile partnerships, including the production of an Emmy Award-winning talk show hosted by the Oprah Winfrey Network. But a New York Times investigation on Sunday claimed that company executives had intentionally inflated traffic figures and views on other...
AFP
Washington (AFP) - The National Rifle Association announced Friday it was filing for bankruptcy protection from creditors and moving to Texas, in an apparent bid to dodge a corruption probe in New York. The powerful gun lobby group and one of its subsidiaries filed petitions for so-called Chapter 11 bankruptcy protection in a Dallas court. The NRA said its decision to reincorporate its non-profit status in Texas will ensure that in the future it is "free from the toxic political environment in New York." The NRA was set up in New York in 1871. The state of New York announced in August of last ...
AFP
Washington (AFP) - Almost 100,000 victims of sexual abuse that took place in the Boy Scouts of America (BSA) had come forward by Monday evening, the deadline to receive compensation from the organization, a lawyer for the victims told AFP. "As of today, 95,000 claims have been filed," attorney Paul Moses told AFP.The figure, revealing the scale of alleged abuse committed over decades by scout leaders, dwarfs the roughly 11,000 complaints believed to have been filed in recent years against the Catholic Church."It's by far the largest sexual abuse scandal in the US," Moses said, adding that sco...
AFP
Washington (AFP) - Almost 90,000 victims of sexual abuse that took place in the Boy Scouts of America (BSA) had come forward by Monday evening, the deadline to receive compensation from the organization, a lawyer for the victims told AFP. Attorney Michael Pfau said that there had been "88,000 claims filed to date. It will probably be 100,000 by day's end."The figure, revealing the scale of alleged abuse committed over decades by scout leaders, dwarfs the roughly 11,000 complaints believed to have been filed in recent years against the Catholic Church."We are devastated by the number of lives ...
AFP
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