News 

PwC to pay $335 million over failed audits of Alabama’s Colonial Bank: U.S. regulator

“The settlement is significantly lower than the $625.3 million a federal judge ordered the firm to pay the regulator in July” writes Midwest Communications Inc for 95kqds.com. WASHINGTON (Reuters) – A top U.S. banking regulator said on Friday that PricewaterhouseCoopers will pay $335 million to settle claims of “professional negligence,” after saying the auditor should have identified problems leading to the 2009 collapse of Alabama-based Colonial Bank. Source: 95kqds.com

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Crypto News 

PwC: Bitcoin Ransomware Hackers Laundered Money via WEX Exchange

“Big Four consulting and auditing company PwC has linked Iranian nationals behind Bitcoin (BTC) ransomware scheme SamSam to the crypto exchange WEX in a recent report published in February” writes Ana Berman for cointelegraph.com. The exchange rebranded in order to distance itself from a money laundering investigation that shuttered BTC-e in July of that same year.They were allegedly operating Iran-based crypto exchanges that helped Savandi and Mansouri to exchange the BTC extorted via SamSam. Source: cointelegraph.com

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News 

The Uncharted Territory Of M&A Cyber Risks

“Merger and acquisition (M&A) activity continues to accelerate as 2019 progresses, both in terms of volume and value of M&A deals” reports pymnts.com. With merger and acquisition activity accelerating, organizations will need to increase awareness of their cyber risk exposure resulting from business acquisitions.While a cyber incident is more likely to delay an M&A deal, rather than lead to a cancellation outright, increased costs and liability for both parties are becoming a significant challenge in the M&A market today. It is new, growing and represents a daunting array of potentially…

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Crypto News 

Big Four Auditor PwC Publishes Crypto Insolvency Guide, Cautions Directors

“PwC specifically addresses firms that operate in multiple jurisdictions, which the auditor contends is a common case for the crypto industry” writes Marie Huillet for cointelegraph.com. Big Four audit and consultancy firm PwC Hong Kong has published guidance for financially distressed or insolvent businesses in the crypto sector. Source: cointelegraph.com

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News 

Global auto deals doubled in 2018: PwC

“Automobiles drive in heavy traffic along the Long Island Expressway in the Queens borough of New York Thomson Reuters By Rama Venkat Raman (Reuters) – Global auto industry mergers more than doubled to an all-time high of $97.5 billion in 2018 from a year earlier, driven by mega-deals in the automotive parts sector, according to a report released on Thursday by consultancy PwC. Five mega-deals, worth a combined $42 billion, in the component suppliers segment accounted for 43 percent of the total value of M&As last year as companies invested…

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The world’s CEOs are getting increasingly nervous about the state of the global economy, a major new survey shows

“Global CEOs praised 2018 as a year of strong global growth but by the end of the year they’d changed their minds completely” writes Callum Burroughs for businessinsider.com. If CEOs’ confidence continues to be a leading indicator, global economic growth will slow down in 2019.In the Middle East and Europe the findings were starkest with 38% and 33% of those surveyed pessimistic about global growth for this year.Pessimism about the economy is fuelled by the constantly shifting policy landscape across the world which is dividing countries, the survey showed.Over-regulation is…

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Exclusive: India’s e-commerce curbs could hit online sales by $46 billion by 2022 – PwC draft analysis

“Online retailers often use gross merchandise value, or GMV, based on monthly online sales as a measurement of performance, as they typically make revenue from the commissions they get from sellers” writes Midwest Communications Inc for 95kqds.com. India’s commerce minister, Suresh Prabhu, has said the e-commerce policy was “very clear”, though the government was open to hearing views of companies.With rising use of the Internet and smartphones in India, online retailers have doled out discounts to lure people to shop online for everything from basic groceries to large electronic devices. Source:…

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Crypto News Stocks 

2019 Will See Entry of More Institutional Players in Crypto, Says Asia Fintech PwC Leader

“Henri Arslanian, the Asia fintech and crypto leader of PricewaterhouseCoopers (PwC) Hong Kong, has predicted that many institutional players will enter the crypto industry in 2019” writes Adrian Zmudzinski for cointelegraph.com. This involvement, he explains, will bring in “institutional level expertise” which — according to him — is much needed in the industry.Arslanian also declared that he expects “many more big banks” to enter the space, some by launching their own solutions, others by partnering with or investing in crypto companies.As Cointelegraph reported earlier this month, Nasdaq — the world’s…

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GBP News 

UK Economy Will Slip To World’s 7th Biggest In 2019 – Report

“SOPA Images via Getty Images Britain’s economy is set to be overtaken by two other nations, a new report suggests” reports huffingtonpost.com. Britain risks slipping from being the world’s fifth-biggest economy to its seventh-largest next year, when it is due to leave the European Union, with France and India on course to overtake it, accountancy firm PwC said.The company projected economic growth in 2019 of 1.6% for Britain ― assuming the country manages to avoid the shock of a no-deal Brexit in March ― versus 1.7% for France and 7.6…

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Crypto News 

PwC Partners With BitFury to Create Blockchain Accelerator in Russia

“Big four consulting firm PricewaterhouseCoopers (PwC) has partnered with mining and blockchain software company Bitfury Group to create a blockchain accelerator for businesses in Russia, according to a PwC press release today, Dec. 13” writes Ana Berman for cointelegraph.com. As Cointelegraph previously reported, in November Bitfury’s Russian branch launched another blockchain accelerator with the Moscow-based Plekhanov Russian University of Economics.PwC will also launch its own accelerator to bolster its employees’ knowledge of blockchain via a two-year program starting January 2019.The release explains that PwC has already used Exonum — Bitfury’s…

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