List of All Articles with Tag 'as'

Asian stocks are set for a weak open after US equities and Treasuries fell following disappointing tech earnings

The Securities and Exchange Commission announced that it had settled fraud charges with the financial firm tied to former president Donald Trump’s Truth Social platform, Street Insider reported. The SEC had accused Digital World Acquisition Corporation (DWAC), a special purpose acquisition company, of making material misrepresentations in forms it filed with the SEC as part of its initial public offering and its proposed merger with Trump Media & Technology Group Corp (TMTG), which Mr Trump founded. DWAC had misled both the SEC and investors when it failed to disclose that it had formulated a plan to acquire and was pursuing the acquisition of TMTG. Special purpose acquisition companies are meant to identify and acquire operating businesses. But the SEC said in the forms DWAC filed to support its IPO in September 2021, neither it nor its officers had said it had discussions with any target companies before its IPO. But the SEC’s order found that the person who would become DWAC’s chief executive and board chairman, along with other people, had extensive special purpose acquisition company meetings with Mr Trump’s company, and that the executive had pursued talks with TMTG for another special purpose acquisition company he created. In turn, the SEC called DWAC’s Form S-1 false and misleading. “DWAC failed to disclose its discussions with TMTG and failed to disclose a material conflict of interest of its CEO and Chairman,” Gurbir S Grewal, the director of the SEC’s enforcement division. “In the context of a SPAC – a ‘blank-check’ entity without business operations – these disclosure failures are particularly problematic because investors focus on factors such as the SPAC’s management team and potential merger targets when making financial decisions.” The SEC said that DWAC violated antifraud provisons of security laws. It had previously announced that it would pay an $18m settlement in the event it closes a merger transaction and it would sign a cease and desist order. Last month, federal authorities arrested Michael Shvartsman, Gerald Shvartsman and Bruce Garelick and the three were named in an unsealed federal indictment. The all pleaded not guilty to insider dealing at a court in New York City this month. Read More Truth Social’s merger partner reaches $18m settlement with SEC

President Xi Jinping’s attack on China’s after-school tutoring industry was meant to ease the burden on households. But

Blackstone Inc. sees opportunities to build out private credit offerings for high net worth investors in Japan after

We haven't even seen the worst of El Niño, NASA scientists said, and next year will likely be even warmer for the planet.

By Jamie McGeever A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.

Dallas police have arrested a man they believe killed three women whose bodies were found over three months in the city. Oscar Sanchez Garcia, 25, was charged with two counts of murder in the deaths of Kimberly Robinson, 60, and an unidentified woman, according to the Dallas Police Department. He is also the main suspect in the slaying of a third woman, Cherish Gibson, 25. Mr Sanchez Garcia is being held on a $4m bond at the Dallas County Jail.

Daniel Snyder is gone, and fans of the Washington Commanders have taken to the Twitter streets to pop champagne, hug each other, and express relief.He's gone! That's the unanimous feeling of fans of the Washington Commanders, thanks to the news they always wanted to hear about owner Da...

The Washington Commanders have a new ownership group.

GOP Sen. Chuck Grassley of Iowa on Thursday released an internal FBI document containing unverified allegations President Joe Biden was involved in an illegal foreign bribery scheme.

Celebrities including a pop star and a top TV host face allegations of sexual harassment and assault.

Consumers’ drive for quantity over quality is transforming the world’s textile industry, sparking an almost doubling in global