MX Player raises $110 million from Tencent, TIL

MX Player, popular video OTT (over-the-top) platform, said on Wednesday that it has received $110 million (Rs 775 crore) in fresh funding from Chinese technology giant Tencent and Times Internet (TIL). The deal marks Tencent’s second investment into a TIL asset, after it invested in Gaana, the music streaming platform, in 2018. Please follow and … Read moreMX Player raises $110 million from Tencent, TIL

More people employed in May-August; low-skilled jobs dominate, says CMIE

During May-Aug 2019, an estimated 404.9 million people were employed in India. This meant that 2.5 million more people were employed during this period compared to a year ago when employment was 402.4 million. Mahesh Vyas, CEO , CMIE said agriculture saw an increase of 8.4 million jobs but fall in jobs in manufacturing, IT … Read moreMore people employed in May-August; low-skilled jobs dominate, says CMIE

Mortgage Delinquencies Tick Higher As More Higher LVR Loans Written

Genworth, the Lenders Mortgage Insurer released their third quarter results today. Their statutory net profit after tax (NPAT) in 3Q19 was $25.1 million (3Q18: $19.6 million) and their underlying NPAT2 of $26.5 million (3Q18: $20.4 million). Genworth said 3Q19 financial performance was “solid” with gross written premium up 24.4% from growth in our traditional lenders … Read moreMortgage Delinquencies Tick Higher As More Higher LVR Loans Written

United States Reaches Settlement to Recover More Than $700 Million in Assets Allegedly Traceable to Corruption Involving Malaysian Sovereign Wealth Fund

The Department of Justice has reached a settlement of its civil forfeiture cases against assets acquired by Low Taek Jho, aka Jho Low, and his family using funds allegedly misappropriated from 1Malaysia Development Berhad (1MDB), Malaysia’s investment development fund, and laundered through financial institutions in several jurisdictions, including the United States, Switzerland, Singapore and Luxembourg. … Read moreUnited States Reaches Settlement to Recover More Than $700 Million in Assets Allegedly Traceable to Corruption Involving Malaysian Sovereign Wealth Fund

Justice Department Files Suit Against Walmart Inc. to Enforce Employment Rights of Naval Reservist

The Department of Justice filed a complaint today in the United States District Court for the District of Colorado on behalf of Naval Petty Officer Third Class Lindsey Hunger against Walmart Inc. The complaint alleges that Walmart violated the law when it declined to hire Hunger due to her upcoming naval reserve duties. Please follow … Read moreJustice Department Files Suit Against Walmart Inc. to Enforce Employment Rights of Naval Reservist

Outcome Health Agrees to Pay $70 Million to Resolve Fraud Investigation

ContextMedia Health LLC, which operates under the trade name Outcome Health (Outcome), a digital provider of medical information and advertising in doctors’ offices, has agreed to a resolution with the Department of Justice by which it will pay $70 million to victims of a fraud scheme that targeted its clients, lenders and investors. Please follow … Read moreOutcome Health Agrees to Pay $70 Million to Resolve Fraud Investigation

Justice Department Requires Divestiture to Resolve Antitrust Concerns in Symrise’s Acquisition of IDF and ADF

The Department of Justice announced today that it will require Symrise AG to divest its chicken-based food ingredient manufacturing facility in Banks County, Georgia, in order to proceed with its proposed $900 million acquisition of International Dehydrated Foods LLC (IDF) and American Dehydrated Foods LLC (ADF) from IDF Holdco Inc. and ADF Holdco Inc. Please … Read moreJustice Department Requires Divestiture to Resolve Antitrust Concerns in Symrise’s Acquisition of IDF and ADF

South Florida Resident Arrested for Attempting to Illegally Export Controlled Items to Libya

Peter Sotis, 55, of Delray Beach, Florida, was arrested yesterday based on an indictment charging him with conspiracy to violate and attempted violation of the International Emergency Economic Powers Act (IEEPA) and the Export Administration Regulations (EAR), as well as smuggling of goods.   Please follow and like us:

Oil Executives Plead Guilty for Roles in Bribery Scheme Involving Foreign Officials

The former CEO and chief operations officer (COO) of a Monaco-based intermediary company have pleaded guilty for their roles in a scheme to corruptly facilitate millions of dollars in bribe payments to officials in multiple countries. These included Algeria, Angola, Azerbaijan, the Democratic Republic of Congo, Iran, Iraq, Kazakhstan, Libya and Syria. The company’s former … Read moreOil Executives Plead Guilty for Roles in Bribery Scheme Involving Foreign Officials

Nevada Man Pleads Guilty to Role in Million Dollar Scheme Targeting Thousands of U.S. Servicemembers and Veterans

Fredrick Brown, 38, of Las Vegas, Nevada, a former civilian medical records administrator for the U.S. Army at the 65th Medical Brigade, Yongsan Garrison, South Korea, admitted yesterday to his role in an identity-theft and fraud scheme that victimized thousands of U.S. servicemembers and veterans. Please follow and like us:

Government virtually rules out any cut in income tax rates

The government has virtually ruled out a reduction in personal income tax, including in the forthcoming Budget, with well-placed sources citing examples of higher rates in several countries such as China, the US and the UK, apart from the lack of fiscal space to reduce the levy. Speculation had started since govt’s decision to slash … Read moreGovernment virtually rules out any cut in income tax rates

“The World System: Five Hundred Years or Five Thousand?” Book Review

From H-Net: https://networks.h-net.org/node/20292/reviews/21053/bentley-frank-and-gills-world-system-five-hundred-years-or-five “Bentley on Frank and Gills, ‘The World System: Five Hundred Years or Five Thousand?’ Author:  Andre Gunder Frank, Barry K. Gills, eds. Reviewer:  Jerry H. Bentley Andre Gunder Frank, Barry K. Gills, eds. The World System: Five Hundred Years or Five Thousand? London and New York: Routledge, 1994. xxii + 320 pp. … Read more“The World System: Five Hundred Years or Five Thousand?” Book Review

Off-duty pilot, staffer get sack for in-flight PDA

An off-duty pilot and a flight attendant who spiced up their flight with inflight nuzzling lost their jobs after a passenger complained to the airline about their public display of affection last month on a SpiceJet Delhi-Kolkata flight. To send a stern message to its crew, SpiceJet recently put out a flight safety case study, … Read moreOff-duty pilot, staffer get sack for in-flight PDA

Bandhan Bank fined Rs 1 crore by Reserve Bank

The RBI has again imposed a Rs 1-crore penalty on Bandhan Bank for non-dilution of promoter holding in line with the central bank’s prescriptions. The RBI on Tuesday also imposed a Rs 1-crore penalty on Pune’s Janata Sahakari Bank, and Jalgaon Peoples Co-Operative Bank for not following RBI norms on recognising bad loans. Please follow … Read moreBandhan Bank fined Rs 1 crore by Reserve Bank

The Work Opportunity Tax Credit Can Help Close the Skills Gap

The Work Opportunity Tax Credit can help employers close the skills gap by encouraging them to hire applicants who often are overlooked, such as ex-offenders, military veterans and the long-term unemployed. The program is set to expire in 2019 but has been reauthorized many times since 1996. Please follow and like us:

The Piece of Presstitute Excrement Known as the NYTimes Has Had to Admit That Yes There Is a Deep State at War with President Trump, by Paul Craig Roberts

This is a surprisingly good report from Robert Merry. Moreover, even it Trump did threaten to withhold aid from a country that was covering up corruption by a US vice president and his son, that is the US president’s right. There is no reason whatsoever that a president should permit US taxpayers’ money to be… … Read moreThe Piece of Presstitute Excrement Known as the NYTimes Has Had to Admit That Yes There Is a Deep State at War with President Trump, by Paul Craig Roberts

Russia, Ukraine, and Donald Trump, by Stephen F. Cohen

Cohen observes in his latest conversation with John Batchelor that the so-called Impeachment inquiry, whether formal or informal, will make the new Cold War even worse and more dangerous than it already is, noting that an inflection point has been reached, because at the core of these allegations—most of which are undocumented and a substantial… … Read moreRussia, Ukraine, and Donald Trump, by Stephen F. Cohen

Telling the Truth Has Become an Anti-American Act, by Paul Craig Roberts

Stephen Cohen and I emphasize that the state of tension today between the United States and Russia is more dangerous than during the Cold War between the US and the Soviet Union. For calling needed attention to the risk of nuclear war heightened by the current state of tension, both Cohen and I have been… … Read moreTelling the Truth Has Become an Anti-American Act, by Paul Craig Roberts