E-commerce giant Amazon has warned sellers that it is removing listings for products from the platform that claim to cure the novel coronavirus. With the coronavirus spreading to over two dozen countries and the overall death toll in mainland China surpassing 2,000, fighting misinformation about the virus has become a major challenge. On top of […]
Archives for February 2020
Rivals slam PhonePe’s ‘ATM’ biz, question launch in absence of rules
PhonePeATM, a new service that lets consumers withdraw cash from its offline merchants via the Unified Payments Interface (UPI), has angered rivals who have drawn the attention of the regulator to the issue, three people aware of the matter said. On Friday last week, this became the centre of an intense debate during the steering […]
Your corporate email isn’t as safe as you think
The discovery of an alleged international ring of fraudsters started with a one-line email. In April 2019, a company accountant received an email that appeared to be from the chief executive officer. “Joanna, Can you mail out a cheque to a vendor today? Barbara,” the email said. The email had some hallmarks of a scam. […]
India Fintech Festival in Mumbai put off due to coronavirus fears
The government-led mega event, India Fintech Festival, which was scheduled to take place on March 4 and 5 in Mumbai, has been postponed following travel advisories over Covid-19 (coronavirus). Organisers have said that the new dates will be announced soon. The festival was planned by Mumbai Fintech Hub, Maharashtra government, ministry of electronics and information […]
As China fights the coronavirus, some say it has gone too far
By Keith Bradsher China’s business leaders know better than to argue with Beijing. Leave the politics to the Communist Party, they long ago concluded, and the government will let them make money in peace. A vicious viral outbreak has upended that formula. China’s typically supercharged economy has ground to a near standstill as the authorities […]
Bezos hack casts light on stock that’s up 191% in two years
If FTI Consulting suffers from a lack of name recognition, its clients don’t. The firm, staffed with former FBI, MI-6 and Mossad agents, has advised everyone from Jeff Bezos in the alleged Saudi phone hack case that United Nations experts got involved with last month, to George W Bush and OJ Simpson’s defense team — […]
How to handle Medicare if clients are working at 65
Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about Here’s how to handle Medicare if clients are still working at age 65Seniors working for big companies have the option to delay Medicare without penalty and stick to their group health insurance plan once they reach the age of […]
Wells Fargo pays $3B, avoids prosecution for sales abuses
Wells Fargo will pay $3 billion to settle U.S. investigations into more than a decade of widespread consumer abuses under a deal that lets the scandal-ridden bank avoid criminal charges. The deferred-prosecution agreement with the Department of Justice spares the San Francisco-based lender a potential criminal conviction that can create serious complications for banks, if […]
Weekend Reading for Financial Planners (Feb 22-23)
Executive Summary Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the big industry news that wirehouse Morgan Stanley is acquiring E*Trade for $13B, in a major shift for the wirehouse to move (back) towards the mass affluent with a more online digital offering via E*Trade, which […]
GASB proposes criteria for financial statement disclosures
A proposed concepts statement issued Friday by GASB would establish new criteria for state and local governments to follow in developing their disclosures for notes to financial statements. The exposure draft, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements, describes the types of information that should […]