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Global Finance Watchdog Censures Turkey Over Money Laundering, Terrorist Financing
WASHINGTON—A global watchdog on Thursday added Turkey to its list of countries requiring special regulatory oversight for failing to stop money laundering and terrorist financing, a designation analysts say will rattle Ankara’s already shaky economy. The action means Turkey joins a group of 23 countries—including Zimbabwe, Haiti and Syria—that the Financial Action Task Force determined “have strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing.” The designation by FATF, an intergovernmental body that audits the ability of nations to detect and disrupt illicit finance, is a political blow to longtime Turkish President Recep Tayyip Erdogan,
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Finance startup Embed raises $80 million, readies for launch in Vancouver’s Uptown Village
Giles said he’d like to one day make the company publicly owned, joining the ranks of ZoomInfo, AbSci, nLIGHT, Northwest Pipe Co., Nautilus Inc. and other companies in Vancouver’s growing business scene. “I think the dream for every entrepreneur is to one day IPO your company on a stock exchange,” he said. “If we execute successfully, I see no reason why Embed could not be a publicly traded company in the future. Having said that, so long as there is capital available in the private markets, it’s safe to assume Embed will remain private for as long as it makes
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This is how to finance digital inclusion
Estimates show that cutting the digital divide by half and ensuring that the internet is accessible to a majority within the next five years will require $2.1 trillion investment. Sustainable and social financing can advance digital inclusion and the achievement of the SDGs. Almost two years into the pandemic, the world continues to rely heavily on technology for everyday life activities – and it does not seem that this will change any time soon. It is estimated that global internet traffic in 2022 will exceed all the internet traffic up to 2016. And while COVID-19 has accelerated a global transition
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The kids are alright: finance’s old guard sees generational change
Robinhood Markets, Inc. CEO and co-founder Vlad Tenev and co-founder Baiju Bhatt pose with Robinhood signage on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly/File Photo Oct 8 (Reuters) – When Wall Street veterans gathered this week for one of their first in-person conferences since the pandemic began, the focus, on emerging issues from “meme stocks,” to cryptocurrencies and free trading apps, signaled a new era for the world of finance. More than 460 finance executives, regulators and politicians met in Washington, with another 800 tuning in virtually, for the Security Traders
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‘I don’t see this as the big one’: Market strategist
The stock market’s volatile start to the fourth quarter has some investors wondering if it’s a scene setter for a proper bear market later this year. A growing number of Wall Street banks have said the equity market looks vulnerable. Morgan Stanley recently said it sees growing risk of a 20% drop in the S&P 500 as evidence starts to point to weaker growth and falling consumer confidence. So far in October, stocks have swung between steep gains and losses while the so-called fear gauge, the CBOE Volatility Index, (^VIX) has shot above 20, after spending much of the summer
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