In a surprising turn of events, TGI Fridays, the iconic restaurant chain, has filed for bankruptcy protection. This move comes after the company faced a series of setbacks, including the closure of numerous branches across the United States. The primary cause for this financial struggle, according t
The iconic restaurant chain TGI Fridays has sought bankruptcy protection. This move comes after the company faced significant financial struggles due to the COVID-19 pandemic and its capital structure. The Dallas-based chain filed for Chapter 11 bankruptcy in a Texas federal court on Saturday. The
In New York, a former FTX executive named Nishad Singh was spared a prison sentence on Wednesday. The federal judge commended Singh's significant cooperation in exposing the multibillion-dollar fraud orchestrated by FTX's founder, Sam Bankman-Fried. Singh, who was the company's engineering director,
Nishad Singh, the former head of engineering at FTX, received no jail time and three years of supervised release on Wednesday. Instead of the maximum 75 years, he was ordered to forfeit $11 billion. Judge Lewis Kaplan praised Singh’s cooperation with the government, noting it was “remarkable. ” Sing
Maybank has a new tech boss! His name is Giorgio Migliarina, and he's stepping into the role of Group Chief Technology and Digital Officer come November 1, 2024. His job? To make sure all of Maybank's systems are resilient and robust, and to plan the bank's tech strategy for the future. He'll also w
On October 29, 2024, Hong Leong Bank (HLB) kicked off its journey into greener finance with the launch of its Sustainable Finance Framework (SFF). This initiative aims to invest a whopping US$4. 5 billion (RM20 billion) over five years to support projects that promote sustainability. The bank has be
Imagine thinking you've struck gold by exploiting a bank glitch. That's what happened to some Americans who saw extra cash in their Chase bank accounts last August and September. They withdrew as much as they could, thinking they'd hit the jackpot. But JPMorgan Chase, the largest bank in the U. S. ,
In a surprising turn of events, a federal bankruptcy judge in Delaware admitted an error in a previous ruling on Yellow Corp’s pension claims. The company, which filed for bankruptcy in August 2023, was initially told that its shareholders might have to pay out more than expected for pension claims.
The upcoming U. S. presidential election could significantly impact several industries. Let's explore which ones are at stake. Big banks could soon need more capital to protect against financial shocks, which might affect their profits and lending ability. The winner of the election could determine
Alex Jones, a well-known conspiracy theorist, is trying to keep his personal social media accounts out of the upcoming auction of his Infowars media platform. This is because he owes over $1 billion to the families of the Sandy Hook Elementary School shooting victims. Jones feels that selling his so
