
Global Business Is Enduring a Synchronized Slowdown: Eco Week
Days after global finance chiefs described the widespread economic fallout inflicted by Russia’s war in Ukraine, business surveys may show an increasingly synchronized slowdown.
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Days after global finance chiefs described the widespread economic fallout inflicted by Russia’s war in Ukraine, business surveys may show an increasingly synchronized slowdown.
After a violent rally in bonds, Treasury traders are debating whether recent tough talk from the Federal Reserve on its commitment to cooling prices is enough to reverse the trend.
HSBC Holdings Plc Chief Executive Officer Noel Quinn said an executive’s remarks playing down the risk of climate change are “inconsistent” with the bank’s strategy and don’t reflect views of senior management.
(Bloomberg) -- Amazon.com Inc., stuck with too much warehouse capacity now that the surge in pandemic-era shopping has faded, is looking to sublet at least 10 million square feet of space and could vacate even more by ending leases with landlords, according to people familiar with the situation.
(Bloomberg) -- The world’s richest nation is waking up to an unpleasant and unfamiliar sensation: It’s getting poorer.
Nov 28, 2018
Bloomberg News
,One of the biggest money laundering investigations in Canadian history won’t go to trial because the case has collapsed, British Columbia’s top law enforcement official said Wednesday.
B.C. Attorney General David Eby said he was informed that the high-profile case into suspected drug money circulating in Vancouver-area casinos had “collapsed.” The investigation by the Royal Canadian Mounted Police, which began in 2015, was set to go to trial in January, according to CBC.
It’s unclear to provincial officials why the federal government stayed -- or discontinued -- the criminal charges, Eby said. “Something obviously went terribly wrong,” he told reporters in Vancouver. “We have to figure out why this is happening, why it is that we appear unable to prosecute these criminal activities.”
Five counts were included in the original indictment, including laundering the proceeds of crime and possession of property obtained by crime, CBC reported. The charges didn’t meet the threshold of a reasonable prospect of conviction and serving the public interest, the report said, citing Public Prosecution Service of Canada spokeswoman Nathalie Houle.
Since taking power last year, Premier John Horgan’s New Democratic Party-led government has been spearheading an anti-money laundering drive after finding that casinos in the Vancouver area served for years as "laundromats" for domestic and international crime organizations. Eby’s office has hired an independent investigator to review potential links between criminal proceeds flowing into the province’s casinos, real estate, luxury cars and horse betting.
Earlier this week, Global News reported that a secret police study into more than 1,200 luxury real estate purchases in the Vancouver area in 2016 found that more than 10 percent were tied to buyers with criminal records -- of those, 95 percent were believed to be linked to Chinese crime networks.
“This is a crisis for our province,” said Eby, who has pleaded with the federal government for resources and a coordinated national approach to combating money laundering. “It is a disturbing signal that a prosecution of this magnitude collapses.”
The investigation was the largest into money laundering in B.C. history, in terms of data and money involved, and one of the biggest in Canada, Eby said.