Bangladeshi police and a bank official alleged that technicians from SWIFT, the global financial network, connected a new bank transaction system to SWIFT messaging three months before a $81 million cyber heist which left the Bangladesh’s central bank more vulnerable, reports the Reuters. Mohammad Shah Alam, the head of the criminal investigation department of the…
A case is being filed again a green body by one of the world’s largest palm oil producers after the producer’s sustainability certificate was suspended by the green body due to allegations that it had deforested Indonesian rainforests. It had been served with a lawsuit by the Malaysian palm giant, IOI, confirmed the Roundtable for…
In a dispute over health and safety after changes to their rest breaks, Thomas Cook cabin crew are voting on possible strike action during the May half-term school holiday. More than 1,000 cabin crews have begun voting in a ballot for industrial action, according to Unite, Britain’s largest union, against a decision that would allow…
Dominic Chappell was forced out of a previous business venture after taking around €400,000 (£315,000) from the company for his personal use. Chappell’s consortium owned BHS before it collapsed last month. The money was transferred from a start-up company in Spain called Olivia Petroleum, which Chappell fronted and used to bolster his City credentials when…
Following the killing of a U.S. Navy SEAL in Iraq during an attack by the Islamic militant group – Isis, the United States gathered defense ministers from 11 other countries for talks to find out ways to strengthen the campaign against Islamic State. Despite recent gains “this fight is far from over” said the U.S.…
To effect a settlement of a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market, seven of the world’s biggest banks have agreed to pay $324 million. Antitrust claims against Bank of America Corp, Barclays Plc, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, JPMorgan…
An additional 35 million to 40 million faulty air bag inflators made by Japan’s Takata Corp., an auto-parts supplier were recalled by the Department of Transportation. 28.8 million Takata inflators have been recalled already by the company under pressure from US authorities. The result of the massive action will result in what is being viewed…
As pressure on the industry rises amid government spending cuts to survive an era of cheap oil, construction company Saudi Binladin Group has laid off 50,000 staff, a newspaper reported on Friday. According to its LinkedIn page there are more than 200,000, people working in the Binladin which is one of Saudi Arabia’s biggest firms…
Officials in India have banned daytime cooking in some parts of the drought-stricken country in a bid to prevent accidental fires that have killed nearly 80 people even as the sizzling temperatures have claimed more than 300 lives this month in India. After accidental fires exacerbated by dry, hot and windy weather swept through shantytowns and…
The sheer size of Africa’s poaching crisis is exhibited by an overpowering display. Several dozen men have circled a site in Nairobi National Park and have carried huge elephant tusks from shipping containers and build them into towers of ivory up to 10 feet tall and 20 feet across for the past week. For some…
