Memo: Citi shakes up leadership after $136 million in fines for data quality issues
Citi’s new tech head Tim Ryan will oversee the bank’s data efforts alongside COO Anand Selva. Nearly four years ago, Citigroup was fined $400 million for its poor data management and risk controls. In July, regulators fined the bank $136 million for failing to fix its data quality issues quickly enough. Now Citi is taking…
The Archegos disaster isn’t over yet for banks as the feds reportedly revive criminal antitrust probe
Archegos Capital Management founder Bill Hwang (C) walks out of federal court Federal prosecutors are reexamining Wall Street banks that lost billions in the 2021 Archegos collapse, anonymous sources told Bloomberg. According to the people familiar with the matter, the US Department of Justice is investigating the degree to which these banks coordinated the collective…
Indictment against Sean ‘Diddy’ Combs details allegations of ‘Freak Off’ sex performances
Combs was arrested Monday and charged with three felonies. An unsealed federal indictment against Sean “Diddy” Combs alleges the music mogul arranged and filmed what he called “Freak Offs”: elaborate sex performances between female victims and male commercial sex workers. The rapper and entrepreneur was arrested Monday, and charged with three felonies: racketeering conspiracy, sex…
Trump has said he supports IVF. Now, Democrats want him to prove it.
Senate Democrats say with just a word from former president Donald Trump, Republicans would fall in line to support their IVF bill. With less than 50 days until the election, Senate Democrats are putting Republicans — and Trump — in the hot seat on IVF. On Tuesday, Senate Democrats are bringing the Right to IVF…
College football fans are already starting to foot the bill for their athletes getting paid
Fans of University of Tennessee Volunteers, led by quarterback Nico Iamaleava, will begin helping pay student athletes with new “talent fee.” In the new age of college football revenue sharing, the cost of paying student-athletes is already being passed off — at least in part — to fans. The University of Tennessee announced in an…
Hezbollah pagers mysteriously exploded across Lebanon, injuring thousands of people
Lebanese army soldiers stand guard as an ambulance rushes wounded people to a hospital in Beirut on September 17, 2024. Hundreds of Hezbollah members in Lebanon were hurt on Tuesday when their pagers suddenly exploded, according to multiple reports. Lebanon’s Internal Security Forces said people were injured after wireless communications devices exploded in several regions…
Sean ‘Diddy’ Combs offered up a $50 million bond. Prosecutors urged a judge to reject it.
Sean “Diddy” Combs has been charged with three felony counts, including sex trafficking. Federal prosecutors asked a judge Tuesday to keep Sean “Diddy” Combs behind bars ahead of his criminal trial, saying he could try to flee the country or attempt to meddle with the investigation of sex-trafficking charges against him. In an indictment unsealed…
Amazon’s strict new RTO rule creates an awkward situation for One Medical
One Medical may be the first big exception to Amazon’s strict new RTO mandate. One Medical told its employees earlier in September that they must come into the office 3 times a week, starting in October 2025, according to people familiar with the matter. The company is giving over a year until the new in-office…
The Titan submersible’s lead engineer says he told OceanGate CEO Stockton Rush, ‘I’m not getting in it’ when asked to do a test dive
OceanGate Expeditions’ Titan submersible. The Titan submersible’s lead engineer testified at a hearing that he felt pressured to prepare the ill-fated vessel for operations and even refused to do a test dive in it. OceanGate’s former engineering director, Tony Nissen, testified during a Monday hearing by the Coast Guard Marine Board of Investigation. He was…
