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Hong Kong’s licensing authority said on Monday it had fined U.S.-based Interactive Brokers Group’s local unit HK$4.2 million ($541,453.42) for erroneously loaning its clients’ securities to other investors without valid authorization.The Securities and Futures Commission (SFC) said its investigation found that the failure happened between December 3, 2017 and October 23, 2020, under which the loaned client securities had an aggregate market value of HK$586 billion.On or around October 27, 2020, IBHK became aware that renewal notices were not sent to any of its clients since December 2017 due to a programming error following an update, the SFC said.However, its…

Google has been branded an abusive monopolist by a federal judge for the second time in less than a year, this time for illegally exploiting some of its online marketing technology to boost the profits fueling an internet empire currently worth $1.8 trillion. The ruling issued Thursday by U.S. District Judge Leonie Brinkema in Virginia comes on the heels of a separate decision in August that concluded Google’s namesake search engine has been illegally leveraging its dominance to stifle competition and innovation. After the U.S. Justice Department targeted Google’s ubiquitous search engine during President Donald Trump’s first administration, the same…

MUMBAI :Indian non-banking finance company Shriram Finance is mulling raising funds denominated in Japanese yen to diversify its borrowing profile, with talks still in preliminary stages, its CEO said on Monday.”Our team is exploring a possibility if we can borrow from the Japanese (currency),” YS Chakravarti told Reuters in an interview. “This could be either from a bank or an international bond issue, which corporates can subscribe to.”Shriram Finance is “still exploring the market”, Chakravarti said, without divulging the target or timing of the fundraise.External commercial borrowing loans made up nearly 15 per cent of Shriram’s total borrowing profile as…

Tax day is nearly here. If you haven’t filed your return for 2024, you’re running out of time.While it has been a fraught time at the Internal Revenue Service, with the Trump administration weighing huge staff cuts and the agency’s head resigning on the eve of tax season, tax returns are still due.Tax professionals report that so far, the agency appears to be functioning fairly well, with returns being processed and refunds being sent. “I’m not hearing anything about delays,” said Susie DiMaggio, board secretary of the National Association of Enrolled Agents, a group for federally licensed tax professionals.Ms. DiMaggio…

A hearing kicked off today in Washington, D.C., that could determine whether Google remains in its current form, or if it could face penalties such as selling off its popular Chrome web browser. The so-called remedy hearing is the consequence of a court ruling last August that found Google is operating a monopoly and uses its dominant market position to crush rivals and put a lid on innovation. The U.S. Department of Justice is arguing that Google should be forced to divest its Chrome browser, which the agency describes as “one of the largest entry points that exists for searches.” By selling…

London — European Union watchdogs fined Apple and Meta hundreds of millions of euros Wednesday as they stepped up enforcement of the 27-nation bloc’s digital competition rules. The European Commission imposed a 500 million euro ($571 million) fine on Apple for preventing app makers from pointing users to cheaper options outside its App Store. The commission, which is the EU’s executive arm, also fined Meta Platforms 200 million euros ($228 million) because it forced Facebook and Instagram users to choose between seeing ads or paying to avoid them. The punishments were smaller than the blockbuster multibillion-euro fines that the commission has…

Scammers are using artificial intelligence to alter their appearance and build fake profiles to apply for remote job postings, research shows.Already, scammers can use AI at almost every step in the job application process to hide their true identities. They can generate fake resumes, professional headshots, websites and Linkedin profiles. Compiled together, AI can help create what looks like the perfect candidate for an open role. Once they’re in, these fraudsters can steal company secrets or install malware. While identity theft is not new, AI is helping scammers scale their operations, and the problem is growing. According to research and advisory firm…

Prince Harry, the Duke of Sussex, said “enough is not being done” about the harm social media can cause children, as he appeared at the unveiling of a memorial in New York City dedicated to young people he said have died because of it, CBS News partner network BBC News reported. Harry was attending the event with his wife, Meghan, the Duchess of Sussex.”The easiest thing to say is to keep your kids away from social media” to protect them, Harry said.The memorial, which will be open for 24 hours, is made up of 50 smartphones that each display an…

HOUSTON :When Exxon Mobil and Chevron report first-quarter results this week, investors will be focused on how falling oil prices have increased the risk to dividends and share repurchases for the rest of 2025.Big Oil has made returning cash to investors through dividends and share repurchases a strategic cornerstone of its efforts to woo Wall Street. U.S. President Donald Trump’s global tariff announcements have stoked fears of a recession and weaker oil demand, prompting forecasters to lower their oil price outlooks.Lower prices would give Big Oil less cash to distribute to shareholders.”We think the quarterly results will be overshadowed by…

HOUSTON :When Exxon Mobil and Chevron report first-quarter results this week, investors will be focused on how falling oil prices have increased the risk to dividends and share repurchases for the rest of 2025.Big Oil has made returning cash to investors through dividends and share repurchases a strategic cornerstone of its efforts to woo Wall Street. U.S. President Donald Trump’s global tariff announcements have stoked fears of a recession and weaker oil demand, prompting forecasters to lower their oil price outlooks.Lower prices would give Big Oil less cash to distribute to shareholders.”We think the quarterly results will be overshadowed by…