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WELLINGTON, Sept 27 (Reuters) – New Zealand’s finance minister Grant Robertson mentioned on Tuesday that inflation is prone to average however it will not be a fast drop again to the degrees that individuals are used to seeing.
“The worldwide financial system is a tricky place to be in the meanwhile. There are nonetheless points popping out of Europe, clearly with the warfare in Ukraine, points in China,” Robertson mentioned in an interview on state-owned TVNZ.
“It is a troublesome interval, however we want to see inflation begin to development down from this quarter onwards.”
He added whereas issues have been robust, there’s each cause to be optimistic concerning the New Zealand financial system as a result of it has completed fairly properly up so far.
Reporting by Lucy Craymer; Modifying by Kim Coghill
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The US Department of the Treasury this week released its 2024 report on illicit finance, examining threats of money laundering and terrorist financing and its strategies to combat them.
The Treasury cited professional money launderers, financial fraudsters, cybercriminals and those seeking to finance terrorism as ongoing threats to the US financial system.
The 44-page report said anti-money laundering/countering the financing of terrorism (AML/CFT) efforts must continue to adapt in order to be effective.
Among the vulnerabilities cited were obfuscation tools and methods such as mixers and anonymity-enhancing coins, AML/CFT compliance deficiencies at banks and complicit professionals who help facilitate illicit financial activity.
The Treasury cited the prosecution of Binance as an example of its success in supervising virtual asset activities.
Binance failed to prevent criminals, sanctioned entities, and other bad actors from laundering billions of dollars in dirty money, according to court papers. The company pleaded guilty and agreed to pay $4.3 billion in fines and restitution, DL News reported.
Additionally, Binance co-founder Changpeng Zhao was sentenced to four months in federal prison for violating US banking laws and fined $50 million.
The US must continue “to invest in technology and training for analysts, investigators, and regulators to develop further expertise related to new technologies, including analysis of public blockchain data,” the report said.
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Such expertise is crucial to the government’s ability to develop responses to new ways in which criminals misuse “virtual assets and other new technologies to profit from their illicit activity,” it said.
SAN BERNARDINO, Calif. (KABC) — The former finance director of the city of San Bernardino is alleging she was threatened and fired by the current city manager, after raising concerns about the potential cost of a project to renovate the old city hall building.
Barbara Whitehorn made the allegations during the public comment portion of the city council meeting on May 15.
“I came back from vacation today, and I was fired today,” said Whitehorn, at times tearing up while making her statement. “I am no longer in the employ of the city of San Bernardino after being threatened today (by the city manager) of having information damaging to my career released into the public domain.
“Then after saying, ‘Please do so, Mr. city manager, because you’ll have to fire me before doing that, he said, ‘Oh, then I’ll just fire you without cause.’”
Whitehorn alleges that the costs to retrofit the old city hall building are spiraling out of control. The building has sat empty since late 2016 after being vacated over concerns that it could collapse during a big earthquake.
“It’s a project that has expanded from $80 million to about $120 million and that number is nowhere to be seen on this (public) agenda. This city does not have that money,” she said.
A presentation was made to the city council in January 2024 outlining the process by which city hall would be retrofitted. City manager Charles Montoya said the city is currently incurring increasing costs for leasing space in separate buildings to maintain city services.
“If we don’t do this now, sooner or later that building is just going to become a gigantic door stop,” said Montoya during the meeting.
He acknowledged when asked by city council members that there is no projected final cost for the project yet.
“The reason we’re doing it this way is speed, to get this thing done. Our lease in the city building is up in two years; we don’t want to sign another lease where we’re just throwing money out the window.”
Two days after her appearance before the council, the city released a statement in response to Whitehorn’s remarks.
The statement claimed Whitehorn was fired for reasons unrelated to the city hall project and disputed some of her other claims.
“However, contrary to Whitehorn’s claims, the renovation project has yet to be designed, and construction costs have yet to be determined,” read the statement, attributed to Public Information Officer Jeff Kraus. “Construction cost estimates and project financing options will be presented to the Council during future meetings.”
“The City of San Bernardino has confirmed that Whitehorn was an at-will employee and was terminated for cause involving financial issues that were unrelated to the City Hall project.”
The statement also said discussion of the city hall project was postponed from that night’s council agenda because there was not enough time to consider the matter and hear from the public.
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Clear Quartz: “Often referred to as the ‘master healer,'” astrologer Aliza Kelly told E! News. “Clear quartz is a versatile crystal that amplifies energy and intentions. It can be programmed to focus on career goals, enhance clarity of thought and promote focus and productivity.
Tiger’s Eye: “Tiger’s eye is known for its protective and grounding properties,” she noted. “It helps to boost confidence, courage and willpower, making it an excellent crystal for achieving career goals, overcoming challenges and making important decisions.”
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