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Musk mocks US financial watchdog after settlement

Musk mocks US financial watchdog after settlement

Technology
Elon Musk has hit out at the US financial regulator just days after they reached a deal on fraud charges against him. The Tesla boss agreed to pay a fine of $ 20m (£15m) to the Securities and Exchange Commission regarding a tweet he had written boasting that he had funding to take his firm private.The SEC had alleged that Musk did not have the estimated $ 25-50bn needed to make that deal happen.After initially refusing an offer to settle the case, Mr Musk backed down, agreeing that he and his company would each pay a $ 20m fine, he would step down as Tesla's chairman (but remain chief executive), and that he would allow oversight of his communications about company news.But in a tweet late on Thursday, Mr Musk described the SEC as the "Shortseller Enrichment Commission...
Millennials prefer life insurance over other financial assets: Study

Millennials prefer life insurance over other financial assets: Study

Finance
MUMBAI: A majority of millennials look at life insurance as a preferred financial instrument to invest in, to meet their financial goals, says a survey. The findings are based on a survey by Assocham and IndiaFirst Life Insurance conducted to study savings and investment patterns of about 1,000 individuals in the age group of 18-35 years across Maharashtra. "Higher cover at lower premium rates, simplified buying process aided with quick customer service and easy documentation makes life insurance a preferred financial asset," showed the the survey titled, Household savings and simplification of insurance. Nearly, two-third (70 per cent) of millennials preferred life insurance as preferred instruments, closely followed by mutual funds (69 per cent) and fixed/recurring deposits (64 per cent)...
London loses top financial centre ranking

London loses top financial centre ranking

Business
London has lost its status as the world's top financial centre, according to rankings showing gains for post-Brexit rivals. The latest Z/Yen Global Financial Centres Index showed New York overtaking the UK's capital for the first time since 2015.The City think tank, which compiles its lists using data from international bodies such as the World Bank and responses to a survey, said there was evidence London had been knocked, but only slightly, by uncertainty over Brexit.:: Why Brexit may not spell end of LondonRivals within the EU for financial services business currently in the UK were among the cities making the greatest strides, the report said, though Asian centres stood out."Zurich, Frankfurt, Amsterdam, Vienna, and Milan moved up the rankings significantly. ...

5 Credit Card Myths Hurting Your Financial Future

Finance
[unable to retrieve full-text content]By Lawrence Sprung, CFP® Credit cards are a tool that many of us use in order to buy things in a convenient fashion, but they represent both convenience and risk. When used properly, credit cards can add value to our financial lives because they offer the ability to buy things now and pay later, build credit and Latest Articles in
Walmart stores close overnight amid financial fall

Walmart stores close overnight amid financial fall

World
Argentina is in an economic freefall — again — and the government of President Mauricio Macri may be too late to stem the tide of social and economic hardship that lies ahead. DOT, one of the most upscale malls in Argentina, is already taking a hit. The enormous shopping center was inaugurated in early 2009 with a Walmart and Falabella, a Chilean department store, as its flagship stores. However, those economic boom times are no more, and today, the DOT is an empty shell of a mall. "It's really sad", Sandra, who asked that her last name remains private, told ABC News from a completely empty, chic women's clothing store at the mall. "I've worked here for eight years but I don't know what tomorrow might bring. The only times we have customers is [when] people [come] from the m...