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The heist: key moments
May 15 2015 Four accounts opened with false identities at RCBC branch in Manila. January 2016 Malware introduced into Bangladesh Bank computer network. February 4 Bangladesh Bank’s computers order 35 transfersvia Swift from
central bank branch at New York Fed, to a total value of $951m. Fed
executes five — one to Sri Lanka and four to the Philippines, with a
value of $101m. Spelling error in Sri Lankan account name stops
transaction and $20m is recovered. February 5 About $81m deposited into the Philippine accounts. A dollar account opened at RCBC in the name of William So Go, who denies involvement.
Funds transferred via that account and via Philrem, a remittance
company, to a series of accounts linked to Philippine casinos. February 8 Bangladesh Bank issues stop orders to New York Fed, RCBC in Manila,
US banks Citi, Bank of New York Mellon and Wells Fargo, and Sri Lanka’s
Pan Asia Banking Corporation. February 11 Philippines central bank governor receives call from Bangladesh
counterpart Atiur Rahman requesting help to trace and freeze stolen
funds. February 29 Philippine Court of Appeal petitions to freeze the four RCBC
accounts that initially receive funds, as well as the accounts of
Eastern Hawaii; Kam Sin Wong, one of the signatories to the account of
Eastern Hawaii; Mr Go, and his Centurytex Trading business. Story of the
scam broken by the Philippine Daily Inquirer. March 15 Mr Rahman resigns as Bangladesh Bank governor and two of his
deputies are fired.
Sources: Anti-Money Laundering Council, Philippines; Bangladesh Bank
executives and their official police report of the crime; Philippine
Senate hearing.
A white leather Drible brand football used by Pele to score his 1,000th
career goal in a match that pitted his Santos FC team against rival Club
de Regatas Vasco da Gama, known as Vasco da Gama, at Maracana Stadium
in Rio de Janeiro, Brazil on November 19, 1969, is shown in this handout
photo released on March 8, 2016. REUTERS/Julien's Auctions/Handout via
Reuters
A green Umbro brand New York Cosmos
football jersey number '10' worn by Pele during the 1976 North American
Soccer League (NASL) season is shown in this handout image released on
March 8, 2016. Reuters/Julien's Auctions/Handout via Reuters
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MOSCOW— Three of Maria Sharapova's
major sponsors are cutting ties with the Russian tennis star after she
acknowledged failing a doping test at the Australian Open.
Sportswear giant Nike, Swiss watch brand Tag Heuer and German luxury car
company Porsche moved quickly to distance themselves from the five-time
Grand Slam winner after she announced the positive test at a news
conference in Los Angeles on Monday.
“We are saddened and surprised by the news about Maria Sharapova,” Nike
said in a statement. “We have decided to suspend our relationship with
Maria while the investigation continues. We will continue to monitor the
situation.”
TAG Heuer said its deal with Sharapova will not be renewed. The
sponsorship expired at the end of 2015 and discussions had been taking
place on how to extend it.
“In view of the current situation, the Swiss watch brand has suspended
negotiations, and has decided not to renew the contract with Ms
Sharapova,” TAG Heuer said in a statement.
Porsche said in a statement Tuesday that it has “chosen to postpone
planned activities” with Sharapova “until further details are released
and we can analyze the situation.”
Sharapova said she failed a doping test at the Australian Open in
January for the little-known drug meldonium, which became a banned
substance under the World Anti-Doping Agency code this year. The former
world No. 1 took full responsibility for her mistake and could face a
lengthy ban from the International Tennis Federation, possibly ending
her season and preventing her from competing for Russia at the Olympics
in Rio de Janeiro.
“I know that with this, I face consequences,” Sharapova said. “I don't
want to end my career this way, and I really hope I will be given
another chance to play this game.”
The 28-year-old Sharapova said she has been taking meldonium, a blood
flow-promoting drug, for 10 years for numerous health issues. Meldonium
was banned because it aids oxygen uptake and endurance, and several
athletes across international sports have already been caught using it.
Sharapova and all players were notified of the changes in the WADA
banned substances list in December. Sharapova claimed she simply missed
the change, neglecting to click on the link.
“I take great responsibility and professionalism in my job, and I made a
huge mistake,” Sharapova said. “I let my fans down. I let the sport
down that I've been playing since the age of 4, that I love so deeply.”
Sharapova is one of the top female players of her generation, with 35
career singles titles and over $36 million in career earnings. That
earning potential is thought to be easily dwarfed by the earnings she
generates from her commercial appeal.
Sharapova is thought to be the world's highest-paid female athlete due
to endorsement deals and her extensive business ventures, including a
high-profile candy line, Sugarpova. Forbes estimated her earnings at
$29.5 million for 2015.
“She's a one-woman marketing machine,” said Nigel Currie, an independent
British-based sponsorship consultant. “There are lots of male stars in
the world, but not many female stars.”
Currie said it's “unbelievable” how such a mistake could have happened
since Sharapova has such a big support network, adding that it's also
“amazing” how quickly sponsors react.
“They are paranoid about their image, and the slightest risk to their image, they run to the hills,” he said.
At the start of this year, a law took effect in Texas that allows a gun owner with a concealed-weapon license to openly carry a handgun in a holster in public.
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ARGENTINA'S $82 billion sovereign default in 2001 was the
largest ever. More than fourteen years later, the country is still
cleaning up the mess. On February 29th it agreed to an expensive
settlement worth $4.65 billion with four of the largest “holdout”
creditors: those who rejected debt restructurings in 2005 and 2010 and
instead pursued Argentina for full payment plus interest through the New
York courts (it was under their law that the original bonds were
written). Until recently, Argentina refused to negotiate with the
holdouts, insisting that it was not prepared to offer more generous
terms than those it had offered to the other creditors. So what changed? During
the debt restructurings, 93% of bondholders had agreed to exchange
their defaulted bonds for new ones, accepting a haircut of 65%.
Unperturbed, the holdouts took their case to Thomas Griesa, a New York
judge, who ordered Argentina to pay them in full. Argentina’s
government, led by Cristina Fernández de Kirchner, refused. In 2012, in
an effort to force Argentina to the negotiating table, Mr Griesa
prohibited the country from paying the holders of its restructured debt
unless it settled with the holdouts. The decision infuriated Ms
Fernández, who branded the judge “senile” and the holdouts “vultures”.
Unwilling to pay the holdouts, and unable to pay the exchange
bondholders, Argentina defaulted again in 2014. But in November
last year Argentines narrowly elected Mauricio Macri as president. The
first non-Peronist to inhabit the Casa Rosada in 16 years, he promised
to normalise Argentina’s economy after years of mismanagement by his
predecessors. On February 1st finance ministry officials opened
negotiations in New York in an attempt to reach an accord with the
remaining holdouts. They made quick progress. On February 2nd a group of
Italian bondholders accepted an offer of $1.35 billion. On February
17th two hedge funds, Montreux Capital and EM Ltd settled for for $1.1
billion. But it was the four largest holdouts who represented the real
prize. Their agreement comes at a cost: the $4.65 billion settlement
equates to a write down of just 25%, far more generous terms than were
offered to creditors in 2005 and 2010. Mr Macri calculates that
this is a price worth paying. His predecessor left Argentina’s economy
is in dire straits: in 2015 it ran a 5.8% fiscal deficit; inflation is
currently at around 30%. Borrowing on international credit markets will
help him to tackle both. Until now the central bank has been forced to
print money to finance the budget shortfall, driving up inflation. Soon
Mr Macri’s government will be able to use credit to bridge the gap
instead. That gives Mr Macri more time to cut spending, negating the
need for a sharp fiscal adjustment, which could threaten jobs and
growth. Mr Macri’s economic recovery will take time. But after fourteen
years, Argentina’s abrupt U-turn means it is finally heading in the
right direction.
Hotels are going for a new minimalist look to
attract younger guests, but the move has left some experienced travelers angry,
wondering how they're expected to get work done without a desk.
Younger travelers, hotels note, just want a clean and efficient space to stay.
They spend less time in rooms and like to socialize and work in vibrant lobbies
with a sense of community.
So carpets are being replaced by easy-to-clean laminate floors. Tubs are being
ripped out in favor of glass showers. And instead of working at a desk, guests
are increasingly expected to use window sills or oversized TV trays.
If a guest doesn’t like those "flexible workspaces', hotels hope they will
bring their laptops to the lobby, where they might buy a glass of wine while
typing away.
But for seasoned travelers who enjoy working in the quiet of their rooms this
has caused major headaches. Often, these surfaces aren't "bigger than a
sheet of paper,'' Don Wright, 59, a computer consultant from Lexington,
Kentucky says.
Wright spends up to 200 nights a year in hotels and understands that many make
changes to cater to younger travelers. Anyway, he can't imagine any millennial
deciding not to stay in a hotel because the room has a desk. But for older road
warriors, a lack of a desk is a deal breaker.
"When you are 25 all is well and you can roll up in a ball and sit
anywhere,'' Wright says. "But when you turn 45, 50 or older, your body
doesn't like those types of positions.''
Marriott CEO Arne Sorenson says guests no longer want a full dresser, closet
and desk. Removing some items gives rooms a greater sense of space. Add a big
TV, fast Wi-Fi and they are happy.
Marriott isn't alone. Several chains have been pushing new designs that upend
the traditional room.
At Best Western's new Vib brand, bed headboards double as desks. Closets have
been replaced with hooks on the wall and instead of a dresser there are drawers
under the bed. Hilton's new Tru won't have closets. Instead there will be an
open space with hangers and hooks on the wall. And the desk is replaced with a
chair that includes a spot for a tiny laptop or tablet.
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How about filling up the blanks?
Legendary British rock band The Rolling Stones will play a free concert
_________ Cuba _____________ March 25, a milestone event _______________ a
country where the communist government once banned the group's music as an
"ideological deviation." The band added the Concert for Amity show - likely to be the biggest rock
concert ever staged in Cuba - to a Latin American tour that was originally
going to end __________March 17________________ Mexico City. "We have performed ___________ many special places ____________ our
long career but this show __________ Havana is going to be a landmark event ______________
us, and, we hope, _____________all our friends _____Cuba too", the band
said ______________ a statement _____ Tuesday. The 1959 revolution that brought Fidel Castro __________ power censured the
group formed ____________ London_________ 1962. ___________ Tuesday, tour guide Julio Garcia reacted ____________ joy to the
news of the Stones' visit. "Los Rolling _____________Cuba? Wow!" he said. "We have been
waiting ______________ them here _____________ many years." The concert will take place days after U.S. President Barack Obama’s visit
_______ the communist island.He will
become the first sitting American president to visit the communist island __________
nearly 90 years. _____________December 2014, Obama announced the U.S. would re-establish
diplomatic relations with Cuba and begin the process of normalizing relations
more than 50 years after they severed ties. Diplomatic ties were formally restored ___________ July 20, 2015.
