A company that provides medical services to prisons recently filed for bankruptcy in Florida. YesCare, as it’s called, owes more money than it has on hand—between $100 million and $500 million in debts against only $50 million to $100 million in assets. This legal move, known as Chapter 11, pauses l
Foreign central banks and sovereign wealth funds have stepped up their purchases of Malaysian government bonds, pushing the country’s share of international holdings to a new peak. As of March, these institutions own 36 % of Malaysia’s outstanding notes, the highest percentage recorded since data c
Europe must grow its banks if it wants to keep up with the United States and China. The head of the euro zone finance ministers says national pride can hold back progress. He urges a shift from local champions to European ones that can compete globally. The main challenge is money for technol
Emmanuel Macron is moving fast to fill a central banking vacancy before his time ends next year. The president wants Emmanuel Moulin, a longtime economic insider, to take over the Bank of France when the current chief steps down in June. Moulin, 57, has spent decades in French economic circles, from
Lawmakers are moving closer to setting clear rules for crypto, but not everyone agrees on what those rules should be. A new proposal aims to settle a fight between banks and crypto companies over rewards tied to stablecoins—digital money designed to keep a steady value. Under the plan, crypto firms
A former JPMorgan employee named Chirayu Rana, 35, was seen walking the streets of Midtown Manhattan in May 2024. A TikTok creator filming a men’s fashion series captured him standing in a crosswalk, wearing a dark suit without a tie and black shoes. The clip later went viral after the creator poste
A new scam is using well‑known bank names to fool people into buying fake crypto coins. The Hong Kong Monetary Authority (HKMA) warned that tokens called “HSBC” and “HKDAP” were on the market even though no licensed bank had issued them. These names belong to two big banks that recently got li
Government rules about paying interest on digital dollars—called stablecoins—just got a fresh rewrite that has crypto startups on edge. Two senators combined a push from banks with protection for real-world crypto use, but the new border between “useful rewards” and “bank-style deposits” is fuzzy. A
The once‑buzzy low‑fare carrier, known for its bright yellow planes and cheeky marketing, has announced it will shut down immediately. Spirit’s website states that every flight is cancelled and customer service has closed, urging passengers to expect refunds but offering no assistance with altern
New York’s Catholic leadership has agreed to pay 800 million dollars to people who were abused by priests as kids. Over 1, 300 survivors will share this money, making it one of the biggest payouts ever in the U. S. for clergy abuse cases. Only Los Angeles gave more—880 million—when it settled simila
