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Tag: Hunt

Ugandan Police Hunt for Mobile Money Fraudsters After Hack

October 8, 2020
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| money

(Bloomberg) —

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Uganda’s police are searching for hackers who accessed the systems of a third party that processes phone-based transactions, with companies affected including MTN Group and Standard Bank Group’s local units.

The fraudsters got into the mobile-money systems and stole funds, according to Charles Twine, spokesman for the Criminal Investigation Department. Investigations will help identify how the systems were hacked, the people involved and the amount of money stolen, he said.

The “system incident” at the third party “impacted bank-to-mobile money transactions,” MTN Uganda, Stanbic Bank Uganda and Airtel Africa’s local unit said in a joint statement.

Mobile money, as it’s known, is popular in Africa for making payments for everything from groceries to utility bills, with options to borrow, save and invest using almost any type of cellphone. The system has become indispensable that governments also uses it for services, and breaches would have far-reaching impact.

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FOCUS-Risk haunts Societe Generale’s Oudea in elusive hunt for growth

October 7, 2020
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| business

By Maya Nikolaeva

PARIS, Oct 7 (Reuters) – Frederic Oudea promised Societe Generale investors “growth with lower risk” after he became chief executive in 2008, the year a rogue trader lost billions in equity derivatives and brought the French bank close to collapse.

Fast forward a decade and SocGen’s share price is at a record low and the bank’s market capitalisation 78% lower than where it was when Oudea took over, after losses on complex investment products wiped out equity trading revenue in the first and second quarters of 2020.

“The current valuation of SocGen makes no sense,” Oudea, whose term expires in 2023, told Reuters.

The bank’s share price, which closed up 6.7% at 12.2 euros on Tuesday, gives it a market capitalisation of about 10 billion euros ($11.8 billion), around a quarter of that of rival BNP Paribas BNPP.PA and half that of Credit Agricole CAGR.PA.

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Stocks surge as investors hunt for bargains

September 28, 2020
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| business

BMO Capital Markets chief strategist Brian Belski argues current market dips are normal.

U.S. equity markets rallied Monday as investors were on the hunt for bargains after a fourth straight week of losses.

The Dow Jones Industrial Average gained 372 points, or 1.37%, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite were higher by 1.41% and 1.55%, respectively.

The early gains put the Dow and the S&P on track to snap their four-week losing streaks. The Nasdaq, meanwhile, looks for a second consecutive weekly advance.

CHEAP DOLLAR WON’T REVIVE NYC REAL ESTATE MARKET ANYTIME SOON

Mega-cap tech stocks including Tesla Inc., Apple Inc. and Microsoft Corp. were all higher.

Amazon Inc. will hold its Amazon Prime Day on Oct. 13-14. The annual event, which is typically held in July, was postponed due to COVID-19.

Meanwhile, cruise operators and airlines gained amid continued optimism surrounding

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The Smart Woman’s Guide to Planning for Retirement by Mary Hunt – Personal Finance Book Review

May 1, 2020
| No Comments
| finance

Money maven, Mary Hunt, returns with a new book, “The Smart Woman’s Guide to Planning for Retirement,” to help women prosper financially in the New Year and beyond. While geared toward females, men can also benefit from Hunt’s money knowledge, honed after she amassed over $100,000 in debt earlier in life; and took 13 years to erase.

“Have you had a retirement wake-up call?” Hunt asks early in the book. “I can promise you they intensify with age.”

Hunt sites a 2012 survey that found that 92 percent of women of all ages do not feel educated enough to reach their retirement savings goals.

Saving for retirement requires determination and hard work; and Hunt believes women can succeed. “If we lack confidence, it’s because we lack knowledge and desire, certainly not because we lack intelligence and ability,” Hunt says.

Time trumps all factors when saving for retirement. The sooner you … Read More

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