In Japan, pet fish playing Nintendo Switch charges the owner's credit card

CNN — Here’s something you don’t see every day. Pet fish playing a video game Japan managed to log into the Nintendo Switch Store, change their owner’s avatar, set up a Pay Pal account, and collect a credit card bill. And everything seemed to be streamed live in real time on the internet. The fish in question belong to a YouTuber named Mutekimaru, whose channel is popular with the gaming…

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Bridging Loan Case Study: McDonald v London Credit - Default Interest Rate - Unenforceable Penalty

We have again successfully represented a bridging customer in a significant settlement win against another bridging lender. This time, London Credit Limited (an unregulated tertiary bridging lender) was forced to agree to our client’s settlement terms which were for payment of a fraction of the amount sought by the bridging lender for which they already had judgment for. This is not the first…

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Locker Disaster: A Bank Locker Ended Up in Someone Else's Name!

In a case of mistaken identity caused by digital documentation errors, Mr. Dutta's routine bank visit for account settling turned into a dramatic discovery of another family's valuables mistakenly linked to his name...

On one Sunday morning, Mr. Ashish Dutta thought that he would check all his documents. He opened his small cupboard and took out all bank passbooks, fixed deposit receipts, life insurance policies, etc. and scattered them all on the ground. Then he arranged them separately, one on top of the other, in an orderly manner. Mrs. Dutta peeked through the door to see what Mr. Dutta was busy doing.…

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Britain's pound is beating every other major currency this year

London CNN  —  The British pound crashed to a record low last fall as investors rebelled against budget plans by former Prime Minister Liz Truss. Now, it’s enjoying a comeback. Sterling hit its highest level against the US dollar in 10 months on Tuesday, topping $1.25 for the first time since June 2022. The pound, which has advanced about 3.3% versus the greenback since the start of 2023, is…

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Role of Istihsan in Applying Maslahah in Islamic Finance

Paper Title: The Role of Istihsan in Applying Maslahah in Islamic Finance Author:        Muhammad Shahrul Ifwat Ishak & Syairazi Muhammad Husni Mohd Sharoni Publisher:    Journal of Islamic Finance, Vol. 11, No. 1(2022), 113 – 120. This paper identifies the role of Istihsan in Islamic finance that should be emphasized to strengthen the element of Shari’ah compliance. Applying Shari’ah rulings…

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China's Andon Health says it has full access to funds parked at collapsed lender SVB | CNN Business

Hong Kong CNN  —  China’s Andon Health, a maker of medical devices, says it has full access to funds parked at Silicon Valley Bank, after the US government intervened to backstop all the deposits at the failed lender. The Tianjin-based company, which manufactures consumer health devices and supplied Covid test kits to the United States during the pandemic, has cash deposits at SVB worth 5% of…

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UK GDP rebounds by 0.2% in January

We are in the part of the month when we get a sequence of UK economic figures and this morning it was the economic  output series. So we can start with better news on the Gross Domestic Product front. Monthly real gross domestic product (GDP) is estimated to have grown by 0.2% in January 2024, following a fall of 0.1% in December 2023. So we can start 2024 with the hope that it will be a better…

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House Oversight chairman seeks Biden family financial transaction data | MASR356

House Oversight chairman seeks Biden family financial transaction data | MASR356

Rep. James Comer, in one of his first strikes as Home Oversight Chairman, is looking for info from the Treasury Division concerning the Biden household’s monetary transactions and calling on a handful of former Twitter executives to testify at a public listening to. The brand new spherical of letters from the committee comes as Home Republicans wish to flex their investigative would possibly and…

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Crypto investor losses turn into IRS gains - here's how they do it

Crypto investor losses turn into IRS gains – here’s how they do it

The Internal Revenue Service has been paying close attention to crypto investors in recent years, and as this happens, more investors are turning to the tax code’s rules on investment losses. That’s according to a study published this week that sheds light on the link between IRS enforcement and “tax loss collection.” The latter is a tax planning strategy that many crypto investors will need to…

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Digitization of Trade Bank of Iraq: First Bank in Iraq

The core banking system is an essential component of the modern banking industry. It serves as the central nervous system of a bank, facilitating various financial transactions and enabling seamless operations. In Iraq, the development and adoption of core banking systems have played a crucial role in transforming the country’s banking sector. The journey of core banking systems in Iraq dates…

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Elizabeth Holmes seeks leniency for her Theranos fraud by arguing she’s someone ‘who tries to do the right thing’ and has few future prospects

Elizabeth Holmes seeks leniency for her Theranos fraud by arguing she’s someone ‘who tries to do the right thing’ and has few future prospects

Disgraced Theranos CEO Elizabeth Holmes is casting herself as a Silicon Valley scapegoat who overcame an abusive relationship to become a loving mother in an effort to avoid a lengthy prison sentence for duping investors in her failed blood-testing company. In an 82-page document filed late Thursday, Holmes’ lawyers tried to persuade U.S. District Judge Edward Davila that sending Holmes to…

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European Digital Compliance: Key Digital Regulation & Compliance Developments - Contracts and Commercial Law

European Digital Compliance: Key Digital Regulation & Compliance Developments – Contracts and Commercial Law

To help organisations stay on top of the main developments in European digital compliance, Morrison Foerster’s European Digital Regulatory Compliance team reports on some of the main topical digital regulatory and compliance developments that have taken place in the second quarter of 2022. This follows on our previous updates on European digital regulation & compliance developments for 2021 (Q1,…

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Cannes Lions 2022: Dentsu Creative bags second Grand Prix, India’s metal tally stands at 20 after day three

Cannes Lions 2022: Dentsu Creative bags second Grand Prix, India’s metal tally stands at 20 after day three

After winning a total of ten metals in the last two days, India added another ten metals on the third day of the Cannes Lions International Festival of Creativity 2022. Dentsu Creative continued its winning streak as it won a Grand Prix for Vice Media’s The Unfiltered History Tour under the Brand Experience and Activation category for use of mobile and devices sub category. The same entry also…

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HSBC is buying SVB's UK business for just over $1 | CNN Business

Hong Kong/London CNN  —  HSBC has scooped up the UK arm of Silicon Valley Bank for £1 ($1.2), just days after its business in the United States collapsed in stunning fashion. SVB UK would have been placed into insolvency by the Bank of England following the failure of its parent, had a buyer not been found. In a statement, the Bank of England said it “can confirm that all depositors’ money…

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