US officials announced fraud charges Monday against three men who orchestrated a $100 million scheme to inflate the market value of a company whose only revenue source was a small-town New Jersey delicatessen.. Now the company is the target of a criminal indictment by the Justice Department and civil charges by the Securities and Exchange Commission over the inflated $100 million market value.
Airlines would be required to disclose fees for luggage or to sit next to their children prior to ticket purchase under a regulation proposed Monday by the Biden administration.. Besides surcharges for checked or carry-on baggage and fees to sit with a child, airlines would also be required to disclose up front feels for changing or canceling a flight, according to a DOT press release.
The government of new British Prime Minister Liz Truss on Monday came under pressure after the pound hit a record low against the dollar following a huge tax-cutting budget last week.. "I would expect pressure from MPs on the prime minister and chancellor to grow sharply in the coming week."
The government of new British Prime Minister Liz Truss on Monday came under pressure after the pound hit a record low against the dollar following last week's huge tax-cutting budget.. The pound on Monday struck an all-time low at $1.0350 before regaining some ground to stand at $1.0728 around 1115 GMT. The pound had already suffered a series of 37-year lows against the greenback this month on UK recession fears propelled by high inflation.
Apple will manufacture its new flagship smartphone in India, the US tech giant said Monday, as it seeks to diversify production away from a dependence on China.. The latest announcement comes just weeks after Apple launched new smartphones.
The French government will borrow a record 270 billion euros ($260 billion) next year to finance a budget that includes caps on energy prices that are expected to soar over the winter, officials said Monday.. The government has vowed that, from January, increases of electricity and gas prices will be limited to 15 percent, a measure expected to cost 45 billion euros.
Britain on Monday warned it could fine TikTok £27 million ($29 million) over a potential failure to protect children's privacy on the Chinese-owned video app.. The watchdog has served the group with a notice of intent -- which is a legal document that precedes a possible fine -- over the possible breach of UK data protection law.
NASA will on Monday attempt a feat humanity has never before accomplished: deliberately smacking a spacecraft into an asteroid to slightly deflect its orbit, in a key test of our ability to stop cosmic objects from devastating life on Earth.. To be sure, neither the asteroid moonlet Dimorphos, nor the big brother it orbits, called Didymos, pose any threat as the pair loop the Sun, passing about seven million miles from Earth at nearest approach.
The world economy will take a bigger hit than previously forecast next year due to the effects of Russia's war in Ukraine, the OECD said Monday.. To highlight the impact of Russia's invasion of Ukraine, the OECD said global output in 2023 is now projected to be $2.8 trillion lower than previously estimated before the conflict in December 2021.
Tokyo stocks closed lower Monday with investors disheartened by global selloffs linked to growing fears over an economic slowdown.. "Last week's monetary policy meetings around the world highlighted the prospect that rate hikes will continue, which is having a negative impact on Japanese stocks, too," Makoto Sengoku, senior equity market analyst at Tokai Tokyo Securities, told AFP. "Stock prices also keep going down, leaving more and more investors feeling uncertain," he added.
