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CNN – Business/Consumer

Epstein accusers sue JP Morgan and Deutsche Bank, claiming banks benefited from sex trafficking operation

by Samantha Beech, CNN Two anonymous women who accuse the late Jeffrey Epstein of sexual abuse have filed separate civil lawsuits against JP Morgan Chase & Co. and Deutsche Bank AG, claiming the big banks enabled and benefitted financially from Epstein’s alleged sex trafficking operation. The class action suits were filed in part under a

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‘It changes nothing.’ Nigerians unimpressed with redesigned banknotes

By Nimi Princewill, CNN Nigerians have criticized the “redesigning” of the country’s local currency proposed by its central bank to rein in counterfeiting and hoarding of large sums outside the banking system. President Muhammadu Buhari unveiled the redesigned 200-, 500-, and 1,000-naira notes on Wednesday, saying “the new Naira banknotes have been fortified with security

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How a scoop by a little-known crypto site led to the fall of Sam Bankman-Fried and implosion of FTX

By Oliver Darcy, CNN Business The staggering level of apparent deception staged by former crypto king Sam Bankman-Fried wasn’t uncovered by government investigators or a major powerhouse financial news organization, such as The Wall Street Journal. Instead, the public’s first glimpse of the alleged wrongdoing by Bankman-Fried — known to insiders as SBF — came

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What protests in China may mean for the economy

By Nicole Goodkind, CNN Business Protests against China’s prolonged and restrictive Covid regulations spread across the country over the weekend. The demonstrations against Chinese President Xi Jinping and his costly zero-Covid policy are an exceedingly rare case of widespread civil disobedience. While the protests represent an unprecedented challenge for Xi, they also carry economic and

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Consumers continue to lack confidence in the US economy ahead of holiday shopping season

By Alicia Wallace, CNN Business Heading into the all-important holiday shopping season, American consumers still aren’t feeling very confident about the state of the US economy. The University of Michigan’s consumer sentiment index landed at 56.8 in November, up from the preliminary reading of 54.7 measured earlier this month but lower than the 59.9 recorded

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