Lawmakers in the US are raising concerns about Hong Kong becoming a hub for financial crimes like money laundering. They think this change started happening after Beijing introduced a new law in 2020. Now, Hong Kong might be helping countries like Russia, Iran, and North Korea avoid international ru
In the world of college football, records are meant to be broken. On this date in 2011, the University of Illinois set a rather peculiar one. They ended their season with a 27-7 loss to Minnesota, marking their sixth straight defeat. What makes this notable is that they had started the season with s
Lately, certain U. S. politicians are concerned about Hong Kong's changing role in the world of money. They're urging the government to take a closer look at its banking ties with Hong Kong. Ever since the Chinese government tightened their grip with a security law in 2020, Hong Kong has been linked
The COVID-19 pandemic has been a wild ride for all kinds of money, from digital currencies to gold. We looked at how the main cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin behaved during this time. We also checked out the fear index (VIX), gold prices, and the S&P500 stock market. Us
Many cryptocurrencies rely on a system called proof-of-work. This means certain people, often called miners, solve complex math problems to validate transactions. It’s thought that this system is secure because miners are rewarded for following the rules. But there’s a worry that some miners might t
Imagine this: Macy’s just found out someone hid up to $154 million in expenses over the last few years. This mistake was made by a single employee, now gone, who was in charge of accounting for small package delivery costs. The company found out while preparing quarterly results, which showed sales
A judge has postponed his decision on resentencing Erik and Lyle Menendez until January. He cited the need to review 17 boxes of documents and give the new district attorney time to weigh in. This delay dashed the family's hopes of having the brothers home for the holidays. The hearing was intended
Imagine this: you're on your way to work, minding your own business, when suddenly, your knee accidentally brushes against the person next to you. Not a big deal, right? Wrong. For one New Yorker, this simple accident turned into a full-blown brawl. Alexander, a 42-year-old finance guy, was riding
Earlier this month, Macy's stumbled upon a significant financial hiccup. One of their employees, in charge of small package delivery expense accounting, had been intentionally hiding expenses. This sneaky maneuver led to an underreporting of costs, amounting to anywhere between $132 million and $154
Back in 2008, right in the middle of a global financial crisis, British bank Barclays was facing a serious issue. They desperately needed cash to dodge a government bailout. So, they reached out to investors from different parts of the world, with Qatar being one of them. It seemed like a wise move
