India Increases Africa Lending in the Race to Counter China
Africa has become the second-largest recipient of credit from India as the country tries to catch up with
2023-07-05 12:19
NetEase’s 85% Stock Comeback Defies China’s Slowdown
A slew of recent blockbuster video game hits by NetEase Inc. is giving bulls renewed optimism that the
2023-07-05 10:49
Gold Miner Set to Trade, Marking Indonesia’s Biggest IPO This Year
PT Amman Mineral Internasional, the owner of the second-largest gold and copper mine in Indonesia, is set to
2023-07-05 08:17
Biden Administration Ordered to Limit Social Media Contacts
A federal judge in Louisiana ordered key Biden administration officials and agencies not to contact social media platforms
2023-07-05 07:23
Canada’s West Coast Port Strike Seen Putting Country’s Reputation at Risk
A strike by dockworkers on Canada’s west coast stretched into a fourth day, causing business groups to warn
2023-07-05 06:55
Twitter Says Ads Mostly Unaffected by Limits That Target Bots
Twitter said its temporary cap on the number of tweets that accounts can see each day has had
2023-07-05 02:47
Irish budget to deliver €5.2bn spending package
Ireland's finance minister says the budget aims to protect people from the impacts of inflation.
2023-07-05 02:47
Truth Social’s merger partner reaches $18m settlement with SEC
A financial firm linked to Donald Trump’s Truth Social platform has reached an $18m settlement with the Securities and Exchange Commission (SEC) in order to bring an end to the investigation into its merger with the company. Digital World Acquisition Corp (DWAC) announced the tentative settlement on Monday, saying that the payment would “remove the cloud of uncertainty lingering over DWAC and would allow DWAC to move forward in achieving its objective of delivering a strategic merger”. The SEC had been looking into whether DWAC held talks with Truth Social’s parent company before going public, which would be a violation of certain antifraud provisions of the Securities Act and the Exchange Act. The settlement means once DWAC has paid the civil penalty it can move forward with the merger, which would see Truth Social become a public company. News of the settlement comes after three people involved in the merger were indicted for insider trading last week. Michael Shvartsman, Gerald Shvartsman and Bruce Garelick were named in a federal indictment unsealed last Thursday (29 June) in Manhattan federal court. All three were charged with trading in securities of Digital World Acquisition Corporation (DWAC) based on non-public information about the company’s planned business combination with Trump Media & Technology Group — founded by former president Mr Trump — the parent company of social media platform Truth Social. They were arrested on Thursday morning in Florida. In 2021, the three investors were invited to invest in DWAC and another SPAC. After signing non-disclosure agreements, they were provided with confidential information, including the planned deal with Trump Media. They were prohibited from using this knowledge in the open market. According to the indictment, after making initial investments into DWAC through the initial public offering process, Mr Garelick was given a seat on the board of directors, which gave him access to valuable non-public information about the planned merger. He provided these updates to his co-conspirators, calling it “intelligence”. The defendants bought millions of dollars of DWAC securities on the open market before the news of the Trump Media business combination was public. In addition to their own purchases, they also passed the information to their friends on a trip to Las Vegas, to Michael Shvartsman’s neighbours, and to Gerald Shvartsman’s employees at a furniture supply store. After DWAC’s merger with Trump Media was announced publicly on 20 October 2021, the stock and warrant holdings significantly increased in value. The defendants and the individuals they tipped then sold their DWAC securities for a significant profit. Michael Shvartsman and Bruce Garelick have been charged with five counts of securities fraud under Title 15, each of which carries a maximum sentence of 20 years in prison; Gerald Shvartsman has been charged with three counts. All three defendants have also been charged with one count of securities fraud under Title 18, which carries a maximum sentence of 25 years in prison; and one count of conspiracy, which carries a maximum sentence of five years in prison. Read More Trump news – live: Truth Social SPAC agrees to SEC settlement as Trump’s past comments on indictment resurface Why isn’t Twitter working? How Elon Musk finally broke his site – and why the internet might be about to get worse Trump mocked for ‘weird apocalyptic’ campaign video Trump marks Independence Day by sharing vulgar attack on Biden Truth Social SPAC reaches SEC settlement as Trump indictment comments reemerge – live Trump sparks speculation by ranting about ‘charges against me’ in Georgia
2023-07-05 00:24
Los Andes Copper Weighs Funding Options For Chile Project Including Sale
Los Andes Copper Ltd. is considering options to finance development of a mine in Chile, including a potential
2023-07-04 22:24
Meta loses as top EU court backs antitrust regulators over privacy breach checks
By Foo Yun Chee BRUSSELS (Reuters) -Antitrust authorities overseeing firms such as Facebook owner Meta Platforms are entitled to also
2023-07-04 19:26
Meta Loses EU Court Fight Over Antitrust Crackdown on Data
Meta Platforms Inc.’s Facebook lost its European Union court fight over a German antitrust order that homed in
2023-07-04 19:21
Twitter to Make TweetDeck Available Only to Paid, Verified Users
Access to Twitter’s own TweetDeck client will be limited to paid subscribers from August, cutting off free users
2023-07-04 17:29