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Claire Monteil

@clara67590

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Photo by Claire Monteil on August 24, 2025.
Photo by Claire Monteil on August 24, 2025.
Photo by Claire Monteil on August 24, 2025.
Photo by Claire Monteil on August 24, 2025.
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Posted On: August 24th 2025, 02:45 pm
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Mr Akash Ambani, Chairman of Reliance Jio Infocomm, shares Jio Platforms’ innovation milestones, from 7,220+ patents to India’s projected $1.4 trillion digital economy by FY31. With an end-to-end tech stack at its core, Jio’s vision is clear: Own the stack. Own the future.
When it rains, it pours. Yesterday, Bank of America (BofA) was slapped with more than $1.2 billion in penalties for allegedly violating anti-money laundering and sanctions laws. The fine is the third-largest ever handed down by the Treasury Department, behind Binance in 2023 ($3.4 billion) and TD Bank in 2024 ($1.3 billion). Regulators found that BofA failed to report more than $5 billion in suspicious transactions, including over $1 billion involving potential national security risks linked to Chinese money laundering networks and illicit activity along the US-Mexico border. The bank also admitted to longstanding deficiencies in its compliance systems, despite previous warnings from regulators. Making matters worse, BofA went on to report quarterly earnings this morning, delivering itself yet another blow. Even excluding the historic regulatory charge, the second-largest US bank still missed Wall Street estimates. That double whammy promptly sent shares tumbling as much as 8% before closing down 4.8%. It was the bank’s largest post-earnings fall in 16 years. 📸 : Getty / Bank of America
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