Six Flags’ stock slumps near 17-year low after fatal incident
A fatal accident on a Six Flags Entertainment roller coaster sent shares of the amusement-park operator tumbling.
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US Treasury fines Bank of America USD 1.2 billion for AML and sanctions lapses
The US Treasury Department said it is imposing USD 1.2 billion in fines on Bank of America for alleged breaches of anti-money laundering and sanctions rules. Treasury said FinCEN assessed the penalty over reporting and mitigation failures tied to national security risks, alongside an USD 11.6 million OFAC settlement covering multiple sanctions programmes. Business Updated:…
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Matthew McConaughey Was Asked if He’d Sell His Tequila Brand. His Answer Was 1 Word
During a recent podcast episode, the actor and entrepreneur was asked about the future of his tequila company. He was candid in his response.
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Unlocking Cross-Border Fintech in West Africa
BCEAO licensing boosts West African fintech expansion, but fragmented rules still slow regional momentum. This article appears in the October issue of Global Finance Magazine. The eight-member Central Bank of West African States (BCEAO) has made strides in easing regulatory and licensing constraints for fintechs seeking to expand further into the region, although digital-finance advisers…
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OCC Imposes $750 Million Assessment Against Bank Of America For Deficient BSA/AML Compliance
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $750 million civil money penalty against Bank of America, N.A. (bank), for violations of the Bank Secrecy Act and its implementing regulations, including 12 CFR 21.21 and 12 CFR 21.11. This amount is the largest in OCC history. The bank is also subject…
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A Dallas Restaurant Defended Its $70 Entrée. Experts Say That Was Its Second Mistake
As diners are increasingly selective about where they spend their dollars, industry experts say restaurant owners should embrace a different approach.
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US’s Marco Rubio to Visit India to Deepen US–India Energy Cooperation
US Secretary of State Marco Rubio will travel to India on October 17–22, with stops in Mumbai and Jamnagar, to advance US–India energy cooperation. The Department of State said he will meet senior officials and business leaders to discuss the strategic partnership, regional issues, and investment opportunities, including engagement linked to Reliance’s Jamnagar refinery. News…
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Goldman’s Solomon wants ‘clear human accountability’ on AI
Key insight: In a call with investors, Solomon acknowledged that the buildout of AI’s infrastructure poses a variety of risks. Supporting data: According to a recent study, total investments in U.S. data centers are on track to exceed $10 trillion by 2032. Expert quote: “The choice is not between halting progress and moving forward without…
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Oil prices rise as Houthi-Saudi attacks spur supply uncertainty
Oil prices rise as Houthi-Saudi attacks spur supply uncertainty
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Group unveils nature metrics and indicators
Key insight: See why a global coalition is distilling 600 environmental metrics into four core indicators. What’s at stake: Financial firms trying to track how their investments depend on and affect ecosystems. Supporting data: 29 companies pilot tested the new environmental framework. The Nature Positive Initiative, a group of conservation organizations, institutes and business and…
