Business Round up

first_imgBusiness Round upOn 8 Feb 2000 in Personnel Today Technology helps centralisation• Life assurance group Britannic is to cut 350 jobs as part of a plan tocentralise its administration and cut costs. The jobs will be cut across theBritannic branch network as paper work is moved to the group’s head office inBirmingham. Centralisation would use the latest telephone and computertechnology to link the administration centre to the sales force, said thegroup. PAPressure on as service sector booms• Growth in Britain’s booming services sector continued in January, puttingpressure on service providers who are finding it increasingly difficult toexpand capacity and meet demand. The Chartered Institute of Purchasing andSupply says demand is so strong that service providers are reporting outputbottlenecks and intensifying inflationary pressures. “Shortages of staff wereagain linked to rising salaries, and higher wage costs remained a significantfactor driving a further sharp rise in input prices,” the CIPS says in areport today. London Evening StandardFirm cuts 141 jobs as factory closes• Clothing manufacturer Martin International Holdings Plc is furtherrestructuring by closing an underwear and leisurewear factory. At least 141jobs will be lost at the factory in Shirebrook, Nottinghamshire. About 100 ofthe 241 staff are to be offered alternative employment at other sites in thecounty. The company, which is a supplier to struggling retail giant Marks &Spencer, said the restructuring would cost around £1m.All-share deal clinches takeover• The world’s biggest takeover was rubber-stamped last week after VodafoneAirTouch won the backing of the board of Germany’s Mannesmann for a £114bndeal. Weeks of talks ended when Vodafone chief executive Chris Gent finally wonthe support of Mannesmann chairman Klaus Esser for an all-share deal. The movewill create the world’s biggest mobile telephones group with a customer base of42 million. Comments are closed. Previous Article Next Article Related posts:No related photos.last_img read more

Guatemala’s ‘Queen of the South’ Reportedly Prepared to Testify Against ‘El Gordo’

first_imgIf the Queen of the South is in fact cooperating with U.S. authorities, she could provide extensive information not only about drug cartels but about money laundering operations in Guatemala and elsewhere. And interrupting a drug trafficking group’s flow of money is one of the keys to dismantling it. In 2011, U.S. federal law enforcement officials charged the Queen of the South’s alleged associate, El Gordo, with transporting drugs to the U.S. from Honduras, Guatemala Mexico and Venezuela. After security forces captured him in France on an international warrant, law enforcement authorities handed him over to the U.S., where he is facing a trial in Miami on federal charges related to drug trafficking. While many drug trafficking organizations employ women at almost every level of their criminal enterprises – from low-level drug-carrying “mules” to “plaza bosses” who control narcotics sales in specific regions – it’s unusual for a woman to lead a major Latin American drug trafficking organization. “She is responsible for transshipping thousands of kilograms of cocaine per month through Guatemala, into Mexico, and on to the United States,” the U.S. Treasury Department reports. “Chacon Rossell is also believed to launder tens of millions of U.S. dollars in narcotics proceeds each month, making her the most active money launderer in Guatemala.” In 2012 the U.S. Treasury department named the previously little-known Chacon Rossell as a “Specially Designated Narcotics Trafficker” and described her as “one of the most prolific narcotics traffickers in Central America.” Based in Guatemala but also operating in Honduras and Panama, the Queen of the South’s organization allegedly supplied cocaine shipments to Mexican drug enterprises, including Los Zetas and the Sinaloa Cartel. Security forces in France captured El Gordo in March. “The fight against money laundering is vital in the fight against organized crime,” said Oscar Vázquez, the director of Citizen Action, a civil organization in Guatemala. In 2011, U.S. federal law enforcement officials charged the Queen of the South’s alleged associate, El Gordo, with transporting drugs to the U.S. from Honduras, Guatemala Mexico and Venezuela. After security forces captured him in France on an international warrant, law enforcement authorities handed him over to the U.S., where he is facing a trial in Miami on federal charges related to drug trafficking. If the Queen of the South is in fact cooperating with U.S. authorities, she could provide extensive information not only about drug cartels but about money laundering operations in Guatemala and elsewhere. And interrupting a drug trafficking group’s flow of money is one of the keys to dismantling it. U.S. officials also named as major drug traffickers the Queen of the South’s husband, Jorge Andres Fernandez Carbajal, a Honduran citizen responsible for providing logistical support for his wife’s organization; El Gordo; and El Gordo’s wife, Mirza Silvana Hernandez De Borrayo. Additionally, the Treasury Department imposed sanctions on four companies owned or controlled by the two couples. Among them: Bingoton Millonario, a local lottery that raised funds for the Fundacion Pediatrica Guatemalteca, a longtime provider of health services to low-income children. Foundation officials were unaware that the lottery company was part of a money-laundering operation. The Queen of the South’s daughter, Christina Stetanel Castellanos Chacon, was also designated as a major money launderer. Treasury also imposed sanctions on two dozen companies allegedly used by the Queen of the South’s organization to launder drug money, including a construction company, a hotel, an import-export company and a clothing store called Boutique Marllory. However, the Treasury Department designation clearly placed the Queen of the South at the top of her organization’s command structure. Some Latin American news agencies, such as teleformula.com, have reported that the Queen of the South surrendered to U.S. law enforcement authorities. Her presence in U.S. custody was not confirmed until October, when her name appeared on an inmate database on the U.S. Bureau of Prisons website. The entry did not indicate when she was taken into custody. The Queen of the South is expected to testify against El Gordo when his case goes to trial. A Guatemalan socialite and businesswoman who allegedly ran one of the largest drug trafficking and money laundering rings in Central America is in custody in a U.S. prison. Marllory Chacon Rossell, 42, who has been dubbed the “Queen of the South” by the Guatemalan press, is being held at the Federal Detention Center in Miami. She is expected to testify against one of her former associates, Hayron Borrayo Lasmibat, also known as “El Gordo.” While many drug trafficking organizations employ women at almost every level of their criminal enterprises – from low-level drug-carrying “mules” to “plaza bosses” who control narcotics sales in specific regions – it’s unusual for a woman to lead a major Latin American drug trafficking organization. Julieta Pelcastre contributed to this article. By Dialogo November 24, 2014 A woman drug trafficking kingpin Some Latin American news agencies, such as teleformula.com, have reported that the Queen of the South surrendered to U.S. law enforcement authorities. Her presence in U.S. custody was not confirmed until October, when her name appeared on an inmate database on the U.S. Bureau of Prisons website. The entry did not indicate when she was taken into custody. The Queen of the South is expected to testify against El Gordo when his case goes to trial. U.S. officials also named as major drug traffickers the Queen of the South’s husband, Jorge Andres Fernandez Carbajal, a Honduran citizen responsible for providing logistical support for his wife’s organization; El Gordo; and El Gordo’s wife, Mirza Silvana Hernandez De Borrayo. Additionally, the Treasury Department imposed sanctions on four companies owned or controlled by the two couples. Among them: Bingoton Millonario, a local lottery that raised funds for the Fundacion Pediatrica Guatemalteca, a longtime provider of health services to low-income children. Foundation officials were unaware that the lottery company was part of a money-laundering operation. In 2012 the U.S. Treasury department named the previously little-known Chacon Rossell as a “Specially Designated Narcotics Trafficker” and described her as “one of the most prolific narcotics traffickers in Central America.” Based in Guatemala but also operating in Honduras and Panama, the Queen of the South’s organization allegedly supplied cocaine shipments to Mexican drug enterprises, including Los Zetas and the Sinaloa Cartel. Security forces in France captured El Gordo in March. The capture of ‘El Gordo’ “The fight against money laundering is vital in the fight against organized crime,” said Oscar Vázquez, the director of Citizen Action, a civil organization in Guatemala. “She is responsible for transshipping thousands of kilograms of cocaine per month through Guatemala, into Mexico, and on to the United States,” the U.S. Treasury Department reports. “Chacon Rossell is also believed to launder tens of millions of U.S. dollars in narcotics proceeds each month, making her the most active money launderer in Guatemala.” The Queen of the South’s daughter, Christina Stetanel Castellanos Chacon, was also designated as a major money launderer. Treasury also imposed sanctions on two dozen companies allegedly used by the Queen of the South’s organization to launder drug money, including a construction company, a hotel, an import-export company and a clothing store called Boutique Marllory. A woman drug trafficking kingpin A Guatemalan socialite and businesswoman who allegedly ran one of the largest drug trafficking and money laundering rings in Central America is in custody in a U.S. prison. The capture of ‘El Gordo’ Marllory Chacon Rossell, 42, who has been dubbed the “Queen of the South” by the Guatemalan press, is being held at the Federal Detention Center in Miami. She is expected to testify against one of her former associates, Hayron Borrayo Lasmibat, also known as “El Gordo.” However, the Treasury Department designation clearly placed the Queen of the South at the top of her organization’s command structure. Julieta Pelcastre contributed to this article.last_img read more

5 risks credit unions face by partnering with Google

first_img continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The much anticipated moves by big tech firms into banking took center stage in 2019. Apple partnered with Goldman Sachs to offer a no-fee credit card embedded in the Apple Pay mobile wallet. Later, Google partnered with Citigroup and Stanford Federal Credit Union to offer checking accounts that can be accessed via the Google Pay app.In between, Facebook announced its plans for its Libra cryptocurrency and Calibra digital wallet, followed later by several less controversial Facebook Pay enhancements. JPMorgan Chase, meanwhile, has developed an e-wallet product it is offering to Amazon, Lyft, and other e-commerce platforms.These partnerships make strategic sense for both the tech giants and the banks. Goldman Sachs, for example, gets to grow credit card balances, accelerate loan growth, and solidify its foray into retail banking, while Apple gets to offer consumers a way to finance purchases while minimizing capital and risk exposure.last_img read more

Canada, US are likely to extend travel restrictions until June 21

first_imgChad Wolf, acting US Department of Homeland Security secretary, said later on Wednesday that restrictions across the borders with Canada and Mexico would likely be extended.Speaking to reporters in San Diego, Wolf said officials from Canada and Mexico were willing to continue the measures “at least in the short term.”Separately, a Mexican government source said an extension for a limited period seemed likely.On Tuesday, the chief Canadian public health officer said the United States – where cases are increasing steadily – presented a risk. Canada and the United States appear likely to extend a ban on non-essential travel until June 21 amid the novel coronavirus pandemic, a Canadian government source and a top US official said on Wednesday.The two neighbors had agreed on April 18 to extend border restrictions until May 21 as cases of the disease continued to rise in both nations. Canada is now pressing for the measures to remain for another month.”It’s too early to lift the restrictions, so we’re working toward an extension,” said one Canadian government source, describing the talks with Washington as positive. News of the request for a 30-day extension was first reported by Canada’s Globe and Mail newspaper.The agreement allows the flow of goods across a border that stretches 5,525 miles (8,891 km) and is a crossing point for one of the world’s largest bilateral trading relationships.The United States takes 75% of all Canadian goods exports.Prime Minister Justin Trudeau said talks about the border “are going well and we’re confident about being able to continue to keep Canadians safe.”The total Canadian death toll edged up by just over 3% to 5,209 from 5,049 on Tuesday, official data showed on Wednesday. The data are another sign the outbreak in Canada is slowing whereas the situation in parts of the United States is more challenging.The Canadian provinces of Ontario and Quebec neighbor the state of New York, a US epicenter of the disease. Canadian officials have been repeatedly pressed about the potential risk posed by arriving truck drivers.Theresa Tam, Canada’s chief public health officer, said on Tuesday the coronavirus “could take off rapidly” unless extreme caution was exercised about relaxing the ban.”The United States being one country that still has cases and is still trying to manage outbreaks … presents a risk to Canada from that perspective.” center_img Topics :last_img read more

Rookie rules IMCA Sport Compact feature at Arlington

first_imgRookie Brett McConnell was the Mach-1 Sport Compact feature winner Saturday at Arlington Race­way. (Photo by Sarah Moriarty) ARLINGTON, Minn. (July 11) – Mach-1 Sport Compact rookie Brett McConnell was among the drivers making first appearances of the season in victory lane during Dan Grams Memorial Night Saturday at Arlington Raceway. Clint Hatlestad and Cory Probst were repeat IMCA Modified and IMCA Sunoco Hobby Stock win­ners, respectively. Neil Stevens was scored first every time around the track in the IMCA RaceSaver Sprint Car fea­ture. Chad Schroeder was the third and final different IMCA Sunoco Stock Car leader and Eric Larson sailed to the Karl Kustoms Northern SportMod checkers after gaining the lead on lap two. McConnell led flag to flag. R.J. Esquedo worked through the field while racing side-by-side with Eric Stocker but had to settle for second.last_img read more