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$21 Million in Assets Seized in South African Corruption Inquiry

$21 Million in Assets Seized in South African Corruption Inquiry Photo Members of the South African Asset Forfeiture Unit and other law enforcement agencies arriving to search the Gupta family compound in Johannesburg on Monday. Credit Agence France-Presse — Getty Images JOHANNESBURG — Law enforcement officials raided the compound of a family close to former President Jacob Zuma of South Africa on Monday as part of an investigation into corruption at a government dairy farm project.
Accompanied by the news media, about 20 officials seized assets totaling about $21 million at the Johannesburg residence of the Guptas, three Indian brothers who built a business empire through their ties to Mr. Zuma, his family and political allies.
National prosecutors said the assets belonged to “several individuals and entities who were implicated in the offenses of theft, fraud and money laundering” in an investigation into a dairy farm project in Vrede, a farming town in the province of Free State. Th..

Netflix 2018 quarter one earnings: Company beats expectations with 7.4 million new subscribers

Aggressive expansion of new original content seems to have paid off
Netflix continued its run of growth with a first quarter of 2018 that yielded a better-than-anticipated 7.4m new subscriptions.
The company’s all-important indicator of paid subscriptions increased beyond its own forecast, suggesting that the streaming service’s aggressive strategy of adding new original content has paid off.
It reaped some $3.6 bn (£2.5bn) in revenue in the first quarter of the year, according to a newly released earnings report, an increase of 43 per cent over a year ago.
Read more How Netflix’s foreign language content is helping to fight xenophobia Netflix withdraws from Cannes film festival over new rule change Netflix is hiring professional binge watchers to rate their shows Netflix’s stock price has soared this year, avoiding the sharp declines that have hit the technology industry. Shares rose more than six per cent in after-hours trading following the earnings report’s release.

Trump Picks Monetary Expert for No. 2 Job at Federal Reserve

Trump Picks Monetary Expert for No. 2 Job at Federal Reserve Photo Richard Clarida, a former Treasury official and a monetary expert, is President Trump’s nominee for the No. 2 post at the Federal Reserve. Credit Reuters WASHINGTON — President Trump will nominate Richard Clarida, a Columbia University economist and former Treasury official in the George W. Bush administration, for the second-ranking job at the Federal Reserve, the White House said on Monday.
Mr. Clarida is a monetary policy scholar whose expertise would complement the background of the Fed chairman, Jerome H. Powell, who is not an academically trained economist. His nomination was widely expected. If confirmed by the Senate, he would join Mr. Powell and John C. Williams, the incoming president of the Federal Reserve Bank of New York, in the leadership troika for America’s central bank.
The White House also said on Monday that Mr. Trump would nominate Michelle Bowman, the Kansas bank commissioner, for a seat on the Fed ..

Car insurance prices fall as whiplash injury claims are curbed

Premiums drop nearly £60 this year alone
Car insurance prices have fallen for the first time in three years, partly thanks to plans to crack down on claims for whiplash injuries.
Premiums have dropped by an average of 7 per cent – or £59 – in the first three months of the year, according to research by Prices fell 2 per cent – or £13 – in 12 months after rising in the last quarter last year.
The insurance portal said a government bill to curb the number and cost of whiplash claims was already leaving drivers better off.
Read more Car insurance claims surge 50% as drivers battle snow and ice Going to the wrong car insurance comparison site could cost you £300 Car insurers sidestep EU law to charge men and women differently UK's top spot for 'crash for cash' car insurance claims revealed Men are now paying an average of £810 for cover, and women £715, the survey showed.
Last month the justice secretary, David Gauke, unveiled plans to set a cap on whip..