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Daily Archives: July 23, 2015

Citigroup Fined for Credit Card Abuses

US bank Citigroup must pay $US700 million to customers and another $US70m in federal fines for misleading consumers on credit card add-on products. The $US700m is intended to compensate nearly nine million account holders who were victims of dishonest marketing by Citigroup and affiliates when they ordered fraud alerts, credit …

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Greek Parliament Votes for the Second Package of Reforms

The second package of reforms necessary for continuing the negotiations with the creditors for the assistance of EUR 86 billion has been accepted by the Greek Parliament, Reuters reports.  The legislation passed receiving 230 majority votes out of the 300-seat chamber. 36 Syriza deputies voted against the bill or abstained. …

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Bank of America Financial Chief Leaves His Post 

Bruce Thompson, Bank of America’s financial chief is leaving his office, WSJ reports. Paul Donofrio, a former Navy pilot and Bank of America veteran will succeed Mr. Thompson.  Previously, Bruce Thompson was considered a potential successor of Bank of America CEO Brian Moynihan, in case of his retirement. Thompson’s retirement is …

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Irakli Kashibadze: Georgia Ranks 60th in Global Innovations Index

Georgia has moved to the 60th place from 88th in the global innovations index, GITA chief Irakli Qashibadze said. The Georgian Innovation and Technology Agency (GITA) plans to unveil several innovative laboratories and business laboratories, publabs and techno parks in Tbilisi and Regions. “In 2008 Georgia ranked 88th in the …

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Mark Zuckerberg is Now the Ninth Richest Person in the World

Facebook has become one of the highest-valued companies in the world after a stock surge saw it leapfrog General Electric to join the ranks of the top ten companies on the S&P stock market index. And quietly, in the process, its founder Mark Zuckerberg has become the ninth richest person …

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