Author: News Room

EY has been given more time to resolve issues exposed by an exam cheating scandal that landed it a $100mn fine last year, as it wrestles with the fallout from findings that it misled US regulators.The settlement with the Securities and Exchange Commission ordered an independent investigation into why the Big Four firm’s US leaders failed to disclose evidence from a whistleblower that employees were sharing answers on professional tests, including ethics exams.It originally set a January deadline for the completion of the investigation and for EY to begin implementing any recommendations, such as disciplinary action against those involved.The SEC…

Thesis The First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) is a well-established commodity ETF with a sizable AUM and a long track record. Its low historical volatility can be also attractive for some. But because of some other competing ETFs with better past performance and lower expense ratios, I don’t believe this is a good choice. If you are looking for exposure to the commodity markets, you might be interested in an ETF like the Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) or an ETN like the iPath Pure Beta Broad Commodity ETN (BCM), both of…

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The US Treasury has revealed that North Korean hackers and scammers exploit loopholes in the decentralized finance (DeFi) space to launder money and hide criminal activity.In a Thursday report, the federal agency claimed that North Korean hackers and other groups engaged in illicit activity have benefited from the non-compliance of some DeFi platforms with certain Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations.The report added that weak or non-existent AML/CFT controls for DeFi services in other jurisdictions, as well as poor cybersecurity controls by DeFi services, lead to the theft of funds.”The assessment finds that illicit actors, including…

Police in Japan have arrested two men for contaminating a communal bowl of pickled ginger at a fast food restaurant, after a video of the prank was shared widely on social media. The arrests come as similar acts involving food, dubbed online as “#sushitero” or “#sushiterrorism”, appear to be becoming more commonplace. Previously, the pranks had mostly affected the country’s famous sushi conveyor belt restaurants, prompting questions about their future. Ryu Shimazu, 35, and Toshihide Oka, 34, were accused of obstruction of business and property damage, Osaka police told CNN, after the duo used their own chopsticks to eat red…

The surprise output cut by OPEC and its allies sent oil prices rallying — and analysts say major oil importers like India, Japan and South Korea will feel the most pain if prices hit $100 per barrel, as some have predicted.On Sunday, OPEC+ announced a production cut of 1.16 million barrels per day, in a move that oil markets were not expecting.”It’s a tax on every oil importing economy,” said Pavel Molchanov, managing director of private investment bank Raymond James.”It’s not the U.S. that would feel the most pain from $100 oil, it would be the countries that have no domestic petroleum resources:…

China began a second day of drills around Taiwan on Sunday as the island’s defence ministry reported multiple air force sorties and said it was monitoring the movement of China’s missile forces, as the United States said it was watching too.China, which claims democratically governed Taiwan as its own territory, began three days of military exercises around the island on Saturday, the day after Taiwan President Tsai Ing-wen returned from a brief visit to the United States.While a security source told Reuters most of Saturday’s activities ended by sundown, Taiwan’s defense ministry said they had resumed on Sunday and the…

With a rising number of Americans tapping into their 401(k)s to cover emergency costs, many workers struggling with high inflation may be wondering when’s the right time to borrow from their retirement savings. According to Fidelity Investor Centers branch leader Leanna Devinney, this option should be used “as a last resort.””Our retirement savings are for our retirement or those long-term goals that we have, so when we’re taking a withdrawal or even a loan from it, but focusing on withdrawals, we’re impacting our future goals,” Devinney told Fox News Digital on Thursday. “So we do want to treat the hardship…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. When you make a financial plan, it might be challenging to figure out what to tackle first. Should you save for retirement, build an emergency savings account or pay off your debts? While all three of these financial goals are important, paying off credit card debt can jumpstart the rest of…