$30m grant to enhance cyber security capabilities in financial sector launched – The Straits Times

$30m grant to enhance cyber security capabilities in financial sector launched – The Straits Times

SINGAPORE – A $30 million grant aimed at boosting the cyber resilience of Singapore’s financial sector and developing local talent in the field of cyber security was launched on Monday (Dec 3). The Monetary Authority of Singapore (MAS) announced details of the new Cybersecurity Capabilities Grant in a statement on Monday. The grant will support […]

Oil and gas fail to prop up Russia’s teetering economy – Financial Times

Oil and gas fail to prop up Russia’s teetering economy – Financial Times

Evgeny Sidorov knew things were bad when the heating at the factory he worked at in central Russia was switched off in midwinter. The temperature was about minus 15C and many of the building’s windows were missing. Since then, things have only got worse at the Ormeto-YUMZ machinery factory in the city of Orsk. The […]

Philadelphia's financial watchdog issues a warning on overtime – KYW Newsradio 1060

Philadelphia's financial watchdog issues a warning on overtime – KYW Newsradio 1060

PHILADELPHIA (KYW Newsradio) — Philadelphia’s financial watchdog is issuing a warning to the city about overtime. It’s one of the trouble spots in what is generally an upbeat report from the Philadelphia Intergovernmental Co-operation Authority. PICA says the city spent nearly $48 million in overtime in the first quarter of this fiscal year. PICA’s executive […]

Subscriber exclusive: Records show where Woodstock has spent its tax increment financing district funds – Northwest Herald

Subscriber exclusive: Records show where Woodstock has spent its tax increment financing district funds – Northwest Herald

As the deadline to decide on Woodstock’s new tax increment financing district approaches, city officials are looking back at projects accomplished by the existing TIF funds. Much of the income generated by the district has gone toward paying off bond debt, maintaining public streets and sidewalks and making repairs to the Old Courthouse, reports filed […]

Stocks spike, Powell says rates 'just below' neutral – Yahoo Finance

Stocks spike, Powell says rates 'just below' neutral – Yahoo Finance

Stocks jumped after Federal Reserve Chairman Jerome Powell said interest rates are “just below” neutral, or at a level that neither stimulates nor cools economic growth. The statement follows more than a month of market turmoil after Powell commented that the central bank was “a long way” from reaching neutral for interest rates. “Interest rates are still low by […]

US companies’ massive cash hoard is finally coming down – Financial Times

US companies’ massive cash hoard is finally coming down – Financial Times

The cash holdings of US companies fell nearly 10 per cent in the first half of this year, signalling a turning point in the historic financial reserves they amassed in past two decades. Corporate America’s cash mountain peaked at close to $2tn at the end of last year, according to rating agency Moody’s. Some 70 […]

Former finance high-flyer Allan Hawkins' firms appeal $720k court fine – New Zealand Herald

Former finance high-flyer Allan Hawkins' firms appeal $720k court fine – New Zealand Herald

Two finance firms operated by a former 1980s high-flyer turned loan shark, who was jailed for fraud after the Black Monday crash, has appealed a $720,000 fine for “cynical and deliberate” repossession tactics which stripped homes almost bare. Companies Budget Loans Limited and Evolution Finance Limited (Budget Loans) were slapped with the heavy fine by […]