Deutsche Bank HQ searched over possible money laundering

Deutsche Bank HQ searched over possible money laundering

An estimated 170 regulators descended on Deutsche Bank’s global headquarters in Germany Friday after the financial giant alerted authorities about a potential money laundering case, according to a report. Both European regulators — the Federal Financial Supervisory Authority (BaFin) — and German police raided the bank following a decision in a Frankfurt court, Bloomberg reported on … Read more

Elon Musk vowed to slash Twitter jobs, executive pay: report

Elon Musk vowed to slash Twitter jobs, executive pay: report

Tesla CEO Elon Musk secured financing for his $44 billion takeover bid of Twitter by pledging to slash jobs and executive pay, among other cost-cutting measures, according to a report. Musk also told lenders that he would maximize profitability at the social media platform by monetizing tweets, though he did not provide specifics, and floated … Read more

Amazon shares fall after first quarterly loss since 2015

Amazon shares fall after first quarterly loss since 2015

Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup. The Seattle-based e-commerce giant’s stock almost 10% in after-hours trading. Amazon reported a loss of $3.84 billion, or $7.56 a share, for the … Read more

Record high rents are driving people back out of NYC

Record high rents are driving people back out of NYC

Once again, the rent is too damn high.  For many city denizens who weathered the pandemic in the boroughs, new record high rents and bidding wars have proved the final straw. Instead of renewing their leases, they’ve moving to more affordable areas.  Bargain-hunters are “choosing to move out versus paying the higher current price,” said … Read more