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Six Big US Banks Quit Net Zero Alliance

3 months 3 weeks ago
An anonymous reader shares a report: The six biggest banks in the US have all quit the global banking industry's net zero target-setting group, with the imminent inauguration of Donald Trump as president expected to bring political backlash against climate action. JP Morgan is the latest to withdraw from the UN-sponsored net zero banking alliance (NZBA), following Citigroup, Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs. All six have left since the start of December. Analysts have said the withdrawals are an attempt to head off "anti-woke" attacks from rightwing US politicians, which are expected to escalate when Trump is sworn in as the country's 47th president in just under a fortnight. Trump's vows to deregulate the energy sector, dismantle environmental rules and "drill, baby, drill," were a big part of his campaign platform and are expected to form a key part of his blueprint for governing the US, the world's biggest oil and gas producer.

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MoviePass Ex-Chief Pleads Guilty To Fraud Over 'Unlimited' Cinema Scheme

3 months 3 weeks ago
Former MoviePass CEO Theodore Farnsworth has pleaded guilty to securities fraud and conspiracy charges for misleading investors about the movie subscription service's "unlimited plan" and its parent company's capabilities, U.S. prosecutors said. Farnsworth falsely claimed the $9.95 monthly unlimited movie plan was sustainable and that Helios & Matheson Analytics could monetize subscriber data through artificial intelligence, knowing both statements were untrue. He faces up to 20 years in prison for MoviePass-related fraud and five years for a separate conspiracy charge involving Vinco Ventures.

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