Calvey, the founder of Russia-focused private equity group Baring Vostok, was detained along with other executives in early 2019 on charges of embezzlement linked to mid-sized lender Vostochny. He and the executives deny the charges. “The court, unfortunately, didn’t or couldn’t understand substance of the case with no victim, no damage and no beneficiary,” Calvey told reporters outside the court after the more than 12-hour-long sitting was over. Calvey will not… Source link

WELLINGTON, New Zealand (AP) — Google co-founder Larry Page has gained New Zealand residency, officials confirmed Friday, stoking debate over whether extremely wealthy people can essentially buy access to the South Pacific country. Immigration New Zealand said Page first applied for residency in November under a special visa open to people with at least 10 million New Zealand dollars ($7 million) to invest. “As he was offshore at the time, his application was not able to be processed… Source link

WASHINGTON — Top public health officials are warning about an alarming rise in coronavirus cases, hospitalizations and deaths, figures that represent a bitter setback in the fight to end the pandemic. “Across the board, we are seeing increases in cases and hospitalizations in all age groups,” Centers for Disease Control and Prevention Director Rochelle Walensky said during a Thursday briefing by the White House pandemic response team. She noted that as of Monday, a full 83 percent of… Source link

Suze Orman: Medicare is not free, so start doing this now If you’re counting the days until you turn 65 and won’t have to pay those brutal health insurance premiums anymore, Suze Orman has a harsh reminder for you. Medicare is far from free. “I want you to be clear-eyed about how much health care will cost you in retirement,” the money maven recently wrote on her blog, pointing to a government report that puts the average out-of-pocket costs for seniors at $6,800 a year. All of a sudden… Source link

Stock futures opened slightly lower Thursday evening ahead of a key labor market report, which is set to offer a fuller picture of the labor market’s recovery and help inform the next moves for monetary policymakers.  Contracts on the S&P 500 were flat to down slightly as the overnight session kicked off. The blue-chip index closed at a record high on Thursday, shaking off declines from a day earlier. The Dow and Nasdaq also ended in positive territory.  For investors, all eyes on Friday… Source link

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello and welcome to Extra Crunch for August 5, 2021. What goes up must come down. Mostly. That’s the lesson from Robinhood’s stock this week. It shot higher yesterday. And today it fell sharply. Something something stonks. Regardless, we have big news from Apple, Facebook, a host of startups and even some drones for you today. A… Source link

By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve announced on Thursday how much each large bank that underwent the most recent stress test will have to hold on their books as capital cushions. The capital requirements for each of the 34 banks are based on how well each firm performed in the June test, and will take effect on Oct. 1. Goldman Sachs and Morgan Stanley were directed to hold the largest amount of capital to guard against losses, facing ratios of 13.4% and 13.2%,… Source link

Rihanna has entered the billionaires club.   According to Forbes, the 33-year-old is now worth a whopping $1.7 billion — making her the wealthiest female musician, and second only to Oprah Winfrey, as the richest female entertainer.  Although many know Rihanna for her music — from hit singles “Umbrella” and “Where Have You Been” to “We Found Love” and “Work” — she actually achieved the bulk of her income through her fashion and beauty brands.  Fenty Beauty, which launched in 2017, has… Source link

Google’s Privacy Sandbox aims to create a framework for advertising across the open web that respects the users’ privacy while enabling marketers to continue to provide ad-funded access to digital properties. Criteo participated in Google’s first Origin Trial of its Federated Learning of Cohorts (FLoC), part of Chrome’s Privacy Sandbox … Source link

Google parent Alphabet Inc. (GOOG, GOOGL) crushed earnings last week, reporting a 62% revenue surge to $61.9 billion. That beat analysts estimates by almost $6 billion. The company reported diluted earnings per share (EPS) of $27.26, blowing away estimates of $19.35. Alphabet is marching ever closer to becoming a $2 trillion company. Key Takeaways Google parent Alphabet shattered earnings expectations last week. Big earnings attract institutional investors over the long term.