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Market heavyweights dip ahead of Nasdaq 100 rebalance
Market heavyweights dip ahead of Nasdaq 100 rebalance
Shares of Apple, Microsoft and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance
2023-07-11 06:21
Newegg Implements Warehouse Robotics from Geek+
Newegg Implements Warehouse Robotics from Geek+
CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Aug 28, 2023--
2023-08-28 20:59
Chelsea reveal Uefa resolution after ‘incomplete financial reporting’ under the Roman Abramovich regime
Chelsea reveal Uefa resolution after ‘incomplete financial reporting’ under the Roman Abramovich regime
Chelsea have agreed a resolution with UEFA that will see them hand over 10million euros (£8.57million) after owning up to “incomplete financial reporting” under the Roman Abramovich regime. A new ownership group led by Todd Boehly and Clearlake Capital completed their takeover of the club in May last year from Abramovich, who was sanctioned over his links to Russia president Vladimir Putin. UEFA, which has also banned Juventus from competing in the Europa Conference League this season due to financial irregularities, confirmed it was approached “proactively” by the Boehly-led consortium. They detected instances of partial financial information being submitted in historical transactions occurring between 2012 and 2019, breaching UEFA Club Licensing and Financial Fair Play regulations. A UEFA statement said: “Following its assessment, including the applicable statute of limitations, the CFCB (Club Financial Control Body) First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10million euros to fully resolve the reported matters.” The sanction represents another blow for Chelsea’s current owners after a disappointing first year at the helm, with the club’s 12th-place finish in the Premier League last term their worst since 1993-94. Chelsea have forked out around £600million in transfers since Boehly’s arrival, while former Tottenham boss Mauricio Pochettino has been tasked with turning around their on-pitch fortunes. Chelsea said in a statement the owners became aware of potential impropriety when carrying out a “thorough due diligence process” prior to the purchase and, upon completion of the takeover, they reported this to UEFA. The statement added: “In accordance with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to UEFA and a settlement that fully resolves the reported matters. “We wish to place on record our gratitude to UEFA for its consideration of this matter. Chelsea greatly values its relationship with UEFA and looks forward to building on that relationship in the years to come.” Juventus have also been reprimanded after a separate UEFA investigation and as well as throwing the Italian giants out of European football, they have been fined 20million euros (£17.14m). However, half of that fine has been suspended and Juventus will only have to pay if their financial records for the next three years do not comply with the accounting requirements. Juventus – who were docked 10 points last season over their past transfer dealings, effectively ending their hopes of Champions League qualification – were found to have violated the framework of a settlement agreement with UEFA in August last year. Juventus president Gianluca Ferrero said in a statement on the club’s website: “We regret the decision of the UEFA Club Financial Control Body. “We do not share the interpretation that has been given of our defence and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments. “However, we have decided not to appeal this judgement. Despite this painful decision, we can now face the new season by focusing on the field and not on the courts.”
2023-07-29 05:21
In Mexico, private cash races to plug nearshoring energy crunch
In Mexico, private cash races to plug nearshoring energy crunch
By Isabel Woodford MEXICO CITY For Mexican industrial park owners like Sergio Bermudez, business is booming amid a
2023-07-26 19:16
China factory activity contracts in November for 2nd straight month despite stimulus measures
China factory activity contracts in November for 2nd straight month despite stimulus measures
An official survey of Chinese manufacturers shows that factory activity contracted for a second straight month in November
2023-11-30 13:53
U.S. weekly jobless claims jump to highest level since late 2021
U.S. weekly jobless claims jump to highest level since late 2021
WASHINGTON The number of Americans filing new claims for jobless benefits jumped last week to the highest level
2023-05-11 20:59
South Korea consumer sentiment extends gains, inflation expectations flat
South Korea consumer sentiment extends gains, inflation expectations flat
SEOUL Consumer sentiment in South Korea ticked further up in June to the highest in just over a
2023-06-28 05:22
Everything Apple Plans to Show at WWDC: XR Headset, iOS 17 and More
Everything Apple Plans to Show at WWDC: XR Headset, iOS 17 and More
Apple Inc.’s most significant product launch event in nearly a decade kicks off Monday, when the company will
2023-06-02 22:20
Mastercard denies report it plans to raise credit card fees
Mastercard denies report it plans to raise credit card fees
Mastercard on Tuesday denied a media report that this fall the payments processing giant is planning to increase
2023-09-05 23:24
Siemens Profit Weighed Down by China Decline, Wind-Turbine Loss
Siemens Profit Weighed Down by China Decline, Wind-Turbine Loss
Siemens AG’s earnings fell short of analyst estimates as the company saw demand for its digital industries unit
2023-08-10 13:18
Severe Storm Doksuri Strengthens as Philippines Battens Down
Severe Storm Doksuri Strengthens as Philippines Battens Down
Doksuri, which has intensified into a severe tropical storm, may strengthen to a typhoon in the coming days,
2023-07-23 13:45
Landmark Google trial opens with sweeping DOJ accusations of illegal monopolization
Landmark Google trial opens with sweeping DOJ accusations of illegal monopolization
US prosecutors opened a landmark antitrust trial against Google on Tuesday with sweeping allegations that for years the company intentionally stifled competition challenging its massive search engine, accusing the tech giant of spending billions to operate an illegal monopoly that has harmed every computer and mobile device user in the United States.
2023-09-12 23:20