Tag: fine
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$1.95B Apple fine is eye-catching, but EU faces tough road collecting
In a significant move, the European Union has fined tech giant Apple a record-breaking $1.95 billion for anti-competitive practices. While this fine is eye-catching, the EU now faces a tough road ahead when it comes to collecting the money. The fine was imposed by the European Commission after it found that Apple had violated antitrust…
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EU fine challenges Apple’s payments business
Recently, the European Union fined tech giant Apple €1.1 billion for antitrust violations related to its App Store monopoly. This significant fine is expected to have far-reaching implications for Apple’s payments business and may lead to changes in how the company conducts its operations. One of the key issues in the EU’s case against Apple…
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Nigeria fines Binance with USD 10 billion in damages
It has been reported that the Nigerian government has fined the popular cryptocurrency exchange Binance with a staggering USD 10 billion in damages. The fine comes after allegations of regulatory violations and failure to comply with local laws. Binance, which is one of the largest cryptocurrency exchanges in the world, has been accused of operating…
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ICBC receives USD 32 million fine from the NYDFS
Published on: May 12, 2023 The Industrial and Commercial Bank of China (ICBC), one of the largest banks in the world, has been slapped with a massive fine amounting to USD 32 million by the New York Department of Financial Services (NYDFS). The fine comes as a result of ICBC’s failure to comply with certain…
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U.S. Bank fined $36M over freezes of COVID-era unemployment benefits
A recent incident involving U.S. Bank has resulted in a hefty fine of $36 million. The bank was penalized due to its repeated disruptions in distributing COVID-era unemployment benefits. The COVID-19 pandemic brought about an unprecedented surge in unemployment across the United States. To help mitigate the financial hardships faced by the unemployed, various government…
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KuCoin to pay a fine and shut down its operations in New York
KuCoin to Pay a Fine and Shut Down Its Operations in New York It has been announced that KuCoin, one of the leading cryptocurrency exchanges, will be halting its operations in New York and paying a significant fine as part of a settlement deal with the state’s financial regulatory authority. This decision comes as a…