Revolut Singapore customers can send e-hongbaos in 28 currencies using in-app Gifting feature
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Revolut Singapore customers can send e-hongbaos in 28 currencies using in-app Gifting feature
Revolut Singapore predicts a 70% uptick in local and cross-border electronic cash-gifting as people find themselves unable to visit relatives and friends like they used to during the Chinese New Year period.
Revolut customers here will be able to send e-hongbaos using specially designed wrappers provided in-app in the Gifting feature.
Gifting allows customers to send electronic cash-gifts in any of the 28 in-app currencies, which include AUD, HKD, USD, and GBP.
With the exception of a few illiquid currencies, Revolut does not charge its customers any fees for exchanging and transferring money during normal London FX hours. It also offers the best FX rates to customers by using spot exchange rates.
TD Bank faces Stanford Ponzi scheme liquidators seeking $4.5-billion in trial Nichola Saminather Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Chris Wattie/Reuters
Toronto-Dominion Bank should be held liable for more than US$4.5-billion of losses at the collapsed Antigua bank of former Texas financier Robert Allen Stanford, lawyers for its liquidators argued in a Canadian court on Monday.
The joint liquidators of Stanford International Bank (SIB) allege negligence and “knowing assistance” by TD, Canada’s second-biggest lender, in allowing SIB to maintain a correspondent account that Mr. Stanford used to perpetrate fraud, according to opening arguments made in the Ontario Superior Court of Justice.
(Recasts with opening argument; Adds change in damages sought, analyst comment, shares)
TORONTO, Jan 11 (Reuters) - Toronto-Dominion Bank should be held liable for more than $4.5 billion of losses at the collapsed Antigua bank of former Texas financier Robert Allen Stanford, lawyers for its liquidators argued in a Canadian court on Monday.
The joint liquidators of Stanford International Bank (SIB) allege negligence and “knowing assistance” by TD, Canada’s second-biggest lender, in allowing SIB to maintain a correspondent account that Stanford used to perpetrate fraud, according to opening arguments made in the Ontario Superior Court of Justice.
Stanford is serving a 110-year prison term after being convicted in 2012 of running a $7.2 billion Ponzi scheme.
If he had acquired a portfolio company for $18 billion or purchased $18 billion in the stock of a public company, we would call it significant, said James Shanahan, Edward Jones analyst, who estimated the buybacks through Oct. at $18.4 billion and maintains a positive outlook on Berkshire shares. Few better places for Berkshire to allocate its capital than to investing in itself with share buybacks, says Lawrence Cunningham, author of several books about
Warren Buffett and Berkshire, and a professor at George Washington University. Price was right. Disclosure was clear. Pure investment rationality.
Even if Buffett is making the right call on the buybacks, the size of it being bigger than any M&A acquisition since 2016 s deal for Precision Castparts highlights a reason Berkshire has struggled to keep up with the broader market in recent years: investors don t see Buffett being able to make the bold bets that made his name and so many Berkshire shareholders fortunes.