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Business & Lifestyle

Irish man receives three-year prison sentence, stole $2.5 million in crypto via SIM hacks

DUBLIN, Ireland -- A 21-year-old Irish man is heading to prison for three years on various charges, including cryptocurrency theft. Conor Freeman would receive his sentence in criminal court Tuesday, pleading guilty on various charges, including "guile and deception." This is according to Dublin Circuit Judge Martin Nolan. A report from The Irish Times would reveal that Freeman was found guilty of engaging in the possession of the proceeds of his crime. Additionally, other charges would include theft and dishonest […]

todayNovember 19, 2020 38

Business & Lifestyle

Crypto lender CRED files for bankruptcy

WILMINGTON, Del. -- A leading cryptocurrency lender is requesting bankruptcy protection as a result of some alleged shady dealings. Cryptocurrency lender CRED Inc. filed for Chapter 11 bankruptcy on Saturday before the United States Bankruptcy Court in Delaware. According to its filing, CRED lists estimated assets between $50 million and $100 million. Their current liabilities range from $100 million to $500 million, but the actual figure is not known. Last month, a cryptic email sent to users states some "irregularities" in […]

todayNovember 9, 2020 8

Business & Lifestyle

ESPN to lay off 300 workers, won’t fill 200 open jobs

BRISTOL, Conn. (UPI) -- ESPN announced Thursday it will lay off 300 employees and will not fill about 200 open positions, marking its largest number of job cuts in five years. The sports network, which is owned by Disney, employs about 6,000 people worldwide, 4,000 of whom are in Bristol, Conn. It laid off 300 employees during a round of cuts in 2015. "Today is hard because ESPN has always been -- and will always be -- fortified by its […]

todayNovember 5, 2020 1

Business & Lifestyle

Report supports calls for national paid sick-leave policy, impacting Illinois

SPRINGFIELD -- New research suggests access to emergency paid leave could help limit the spread of the novel coronavirus. Supporters of a broader paid-time-off proposal say it's needed in states like Illinois, where there's no such requirement. The study says states with access to emergency paid leave during the crisis have seen 400 fewer COVID cases per day. It was led by Cornell University and the Swiss Economic Institute. Paid-leave group demands Senate vote on House relief bill Dawn Huckelbridge is […]

todayOctober 23, 2020 38

Business & Lifestyle

GameStop reveals plans to close 450 stores

GRAVEVINE, Tex. -- GameStop reveals in a recent investor call that they will be closing more stores than in their initial plan. Company executives did reveal that they will close an additional 100 stores than in their current restructuring plan. Per the restructuring plan, the company had plans to close 300 underperforming stores permanently. However, this number is increasing since the investor brief in March. Store closures to continue through 2021 When asked regarding a timeframe for these additional store […]

todaySeptember 13, 2020 13

Financial News

More stimulus, school and jobless funds expected in $1 trillion GOP relief bill

WASHINGTON (UPI) -- Senate Republicans plan to introduce a $1 trillion coronavirus relief package on Monday that will include another stimulus payment for Americans and funds to help schools reopen. After days of negotiating among GOP lawmakers and the White House, the Senate measure is expected to include a $1,200 stimulus payment, temporary and reduced unemployment benefits, funds to help schools reopen, $16 billion in funding for COVID-19 testing and tax incentives for companies to rehire employees. Senators said they […]

todayJuly 27, 2020 3

Business & Lifestyle

OPEC decides to keep production cuts

VIENNA, Austria (UPI) -- OPEC and its allies have agreed to extend the group's cuts on oil production through July. During a Saturday video-conference meeting Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said there are grounds to be "cautiously optimistic about the future," but there are still economic challenges ahead for oil producers and encouraged a swift decision to stabilize oil markets and keep oil prices high. "Together we are stronger, together we can restore stability to oil markets […]

todayJune 6, 2020 7

Business & Lifestyle

Microsoft announces agreement to acquire Metaswitch Networks

REDMOND, Wash./LONDON (UPI) -- Microsoft said Thursday it has agreed to acquire Metaswitch Networks to expand its cloud-based telecom offerings. The announcement follows the acquisition last month of fifth-generation technology for cellular networks specialist Affirmed Networks. The goal is to leverage the technology of both organizations to extend the Microsoft Azure cloud computing service platform to expand telecommunication industry offerings. "The convergence of cloud and communication networks presents a unique opportunity for Microsoft to serve operators globally via continued investment […]

todayMay 14, 2020 28

Business & Lifestyle

Pritzker says reopening guidance for Illinois businesses weeks away

SPRINGFIELD (The Center Square) – Businesses looking to partially reopen in Illinois later this month per Gov. J.B. Pritzker’s reopening plan amid COVID-19 concerns may not get the guidance they need to be in time to be in compliance if their region enters the next phase of the governor's reopening plan. Pritzker’s five-phase plan to reopen the state’s economy has the state in Phase 2. Phase 3 could be possible at the end of the month with more businesses allowed […]

todayMay 14, 2020 4

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