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Goldman Sachs, Prysmian, others lose challenge against 302 million euros EU cartel fine

“Prysmian was hit with the biggest fine at 104.6 million euros, which included a joint fine of 37.3 million euros with Goldman Sachs” reports businessinsider.com. The EU antitrust enforcer said the group ran a power cable cartel for almost 10 years from 1999, sharing markets and allocating customers between themselves.The Goldman Sachs company logo is seen in the company’s space on the floor of the NYSE in New York Thomson Reuters By Foo Yun Chee LUXEMBOURG (Reuters) – Investment bank Goldman Sachs , the world’s top cablemaker Prysmian , Nexans…

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KKR shares jump after private equity firm announces structuring change

“KKR shares jumped Thursday after the private equity firm announced a plan to convert to a corporation from a partnership” writes Daniel Acker for cnbc.com. The private equity firm also reported quarterly earnings that beat expectations on the top and bottom lines, according to FactSet.Shares of other private equity companies rose Thursday morning.As a corporation, KKR plans to pay an annualized dividend of 50 cents per common share and increase its authorized share repurchase amount to $500 million. Source: cnbc.com Share This:

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A.I. could lead to a nuclear war by 2040, think tank warns

“Artificial intelligence (AI) could potentially result in a nuclear war by 2040, according to a research paper by a U.S. think tank” writes Ryan Browne for cnbc.com. The paper, by the nonprofit RAND Corporation, warns that AI could erode geopolitical stability and remove the status of nuclear weapons as a means of deterrence.While peace has been maintained for decades due to the notion that any nuclear attack could trigger mutually assured destruction, the potential for AI and machine-learning to decide military actions could mean that the assurance of stability breaks…

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BBC presenter reveals she tried to kill herself over corporation’s handling of her tax affairs

“BBC presenters attempted suicide and suffered “irreparable damage” because of the corporation’s “horrific” handling of their tax affairs” writes Asa Bennett for telegraph.co.uk. The corporation has been accused by 21 workers, including prominent television and radio presenters, of forcing them to set up personal service companies or risk losing their jobs.Many of them have since been pursued by HMRC over tens of thousands of pounds in unpaid tax, leading to significant “mental deterioration”. Another BBC worker accused the corporation of a “brazen attempt” to… Source: telegraph.co.uk Share This:

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The AI Method To Fighting Fleet Card Fraud

“As The ai Corporation continues to round out its offerings for the fleet card market, fraud mitigation will be the cornerstone of the application of technologies like AI and machine learning” reports pymnts.com. While fleet card fraud is certainly a threat to end customers – the businesses and employees using those card products – it is also threatening to fuel retailers, as well as card issuers and acquirers, said Dr.In addition to EazyFuel, The ai Corporation also recently published an eBook outlining the various areas of fraud risk exposure faced…

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A top fintech investor is partnering with a member of the World Bank to cash in on ‘a big opportunity’

“Fintech adoption is ramping up in the developing world, and one Chicago-based investor is looking to capitalize on the red-hot market with a new fund” writes Frank Chaparro for businessinsider.com. Here’s EY: “Our five emerging markets are characterized by having growing economies and a rapidly expanding middle class, but without traditional financial infrastructure to support demand.But the new partnership with the IFC, which provided $19.3 billion in financing to companies in developing markets in 2017, opens the firm up to developing markets for the first time.”The reliance on mobile devices…

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Faced with U.S. tax cuts, France, Germany hasten harmonization: Merkel

“So EU members, especially Germany and France, see the need for more tax policy cooperation among themselves to make their markets more competitive” reports businessinsider.com. FILE PHOTO: German Chancellor Angela Merkel welcomes US President Donald Trump to the opening day of the G20 leaders summit in Hamburg Thomson Reuters BERLIN (Reuters) – Germany and France will bring forward plans to introduce a common corporation tax system in response to tax cuts announced by the Trump administration, Chancellor Angela Merkel said.At the end of last year, the Trump administration floated a…

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EQT, the biggest US natural gas producer, is spinning off its pipeline business

“EQT, the nation’s biggest natural gas producer, will spin off its pipeline business into a new publicly traded company, the Pittsburgh-based driller announced Wednesday” writes Tom Dichristopher for cnbc.com. The deal announced Wednesday will merge Rice Midstream Partners with EQT Midstream Partners, both of which are focused on the Appalachian region, the epicenter of the U.S. shale gas boom.Opponents led by activist investor Barry Rosenstein’s Jana Partners had contended that splitting EQT’s natural gas production and transportation businesses would better reward EQT shareholders.Before their combination, both EQT and Rice operated…

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Smart battery firm nets $7 million investment from Japan’s Itochu Corporation

“In an announcement Monday, U.K.-based Moixa said the agreement would allow its GridShare platform to be launched in the “rapidly growing Japanese battery market.”” writes unknown author for cnbc.com. “Itochu is a major player in the global battery market and this partnership provides a real opportunity for us to expand our business in Japan and provide GridShare technology to many global battery companies,” Moixa CEO Simon Daniel said in a statement. Source: cnbc.com Share This:

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