Author: Press Room

TikTok and its China-based parent company ByteDance combined to spend over $7 million so far this year to try and stop Congress from passing legislation that could ban the social media app in the United States.ByteDance alone spent a record $2.68 million on in-house TikTok lobbyists to target Congress and federal officials over the first three months of the year, according to new lobbying disclosure reports. TikTok spent over $4.5 million this year on a television and digital ad campaign pushing back on legislation that could ban the app, according to data from AdImpact.”This expenditure reflects work we do to…

The Biden administration issued a final rule on Tuesday that cracks down on the investment advice that advisors, brokers, insurance agents and others give to retirement savers.The U.S. Department of Labor regulation — which follows a rule proposal in October — aims to ensure that investment recommendations are in savers’ best interests, according to agency officials.In legal terms, the final rule expands the scope of when a broker, advisor or other intermediary must act as a “fiduciary,” meaning they are required to give advice that puts the client first.The final rule takes effect on Sept. 23. It takes up the…

Google has fired an additional 20 workers that it says were involved in protests last week over the company’s cloud-computing contract with the Israeli government, bringing the total number of workers fired to 50, according to the group organizing the demonstrations. No Tech for Apartheid, the organizers of the protest at Google offices last Tuesday, said in a statement Monday evening that Google had fired an additional 20 workers, on top of the 30 workers terminated last week. No Tech for Apartheid claims that some of the workers fired were “non-participating bystanders” during last Tuesday’s sit-in protests at Google’s offices…

Last updated: April 23, 2024 10:15 EDT | 2 min read Celebrity poker player Antanas ‘Tony G’ Guoga won a pot worth just over $300,000 this weekend on the CoinPoker website, beating an anonymous whale in a high-stakes 1000/2000 game.The game took place as part of the Crypto Series of Poker (CSOP), which is making $1 million in prize money available across 41 tournaments.It saw Guoga – who is also the CoinPoker founder – call the hand of high-rolling user nvoskob1986, who had played with a two pair of Aces and fives, against Guoga’s two pair of Aces and Jacks.The…

New sanctions pressure from the US Treasury is reportedly pulling foreign banks away from Russia. Banks in the UAE, Turkey, and Austria are working to reduce their transactions with Moscow. This is disrupting Russia’s oil trade, which is facilitated by some of these banks. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Several global banks that have helped Russia circumvent Western sanctions are now turning their backs on Moscow as the US has increased pressure to comply.The Wall Street Journal reported financial institutions in the United Arab Emirates,…

When Patrick Biggs became a financial advisor at Morgan Stanley nine years ago, he had a standard reply when clients asked a question he couldn’t immediately answer: I’ll research this and come back to you.Now he can answer those questions mid-call by asking the bank’s AI chatbot, which typically takes 15 to 20 seconds. He has the chatbot open on his computer his entire workday.”At first it was a tool, and now it’s becoming a partner, to be candid, because of how frequently I use it,” he said.Morgan Stanley partnered with OpenAI, the maker of ChatGPT, to roll out this…

Bank of Hawaii Corporation (NYSE:BOH) Q1 2024 Earnings Conference Call April 22, 2024 2:00 PM ET Company Participants Cindy Wyrick – Director of IRPeter Ho – Chairman, President & CEOBradley Shairson – Vice Chair & Deputy Risk OfficerDean Shigemura – Vice Chair & CFOChang Park – IR Manager Conference Call Participants Jared Shaw – BarclaysJeff Rulis – D.A. DavidsonAndrew Liesch – Piper SandlerKelly Motta – KBW Operator Good day, and thank you for standing by. Welcome to the Bank of Hawaii Corporation First Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker’s…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Goldman Sachs has moved its top investment banker for European financial companies from London to Paris, as the Wall Street bank finalises its post-Brexit relocation plans.Dirk Lievens, who is head of Goldman’s financial institutions group for Europe, the Middle East and Africa, moved to Paris last month to be closer to the company’s continental European clients, including banks and insurers, according to people briefed on the matter.Since the UK voted to leave the EU in 2016, Goldman has set about relocating dealmaking…

The first criminal trial of Donald Trump is officially underway. Prosecutors and Trump’s attorneys delivered opening statements and the first witness – a former National Enquirer publisher – was called Monday in the historic and unprecedented criminal trial of a former president. Each side got their first chance to lay out a theory of the case for jurors. Prosecutors told jurors that the reimbursement of hush money payments made to adult film star Stormy Daniels was part of a larger conspiracy to influence the 2016 presidential election by hiding damaging information about Trump. The former president’s attorneys responded by telling…

Domo Inc . (NASDAQ:) has seen significant trading activity from its founder and CEO, James Joshua G, according to the latest SEC filings. On March 21, 2024, James executed a sale of 107,000 shares of Class B Common Stock at an average price of $9.376 per share, totaling over $1 million in value. This transaction was part of a plan to cover taxable obligations related to vested restricted stock units.The sale came just a day after the CEO acquired 35,634 shares through the vesting of restricted stock units (RSUs) on March 20, 2024. However, these shares were acquired at no…