Benjamin Lawsky, superintendent of New York state's Department of Financial Services, got British bank Standard Chartered to pay a $340 million settlement over allegations that it schemed with the Iranian government to launder billions of dollars.
Banking industry officials say it's unheard of: A state regulator, flying solo, threatens to take away the state license of a global bank — and then secures a very public settlement.
That's exactly what happened in New York this past week, when the state's Department of Financial Services reached a settlement with Britain's Standard Chartered Bank over allegations that it schemed with the Iranian government to launder billions of dollars.
The Valomilk was once advertised as "the 5-cent candy bar with the 50-cent taste." And while the price has changed, the product has not.
For more than 80 years, the family-owned Russell Sifers Candy Company has been using the same recipe to churn out a rich concoction of chocolate and creamy marshmallow goo.
The candy-making machines are busy on the factory floor in Merriam, Kan., just southwest of Kansas City. This is the headquarters of the century-old company, where Russell Sifers himself is a fourth-generation candy maker.
The quayside at Compagnia della Vela in Venice, Italy, is largely deserted. Authorities have targeted yacht owners as part of a crackdown on tax evasion, and many boat owners have sailed to other countries in the Mediterranean.
Italy has a public debt of nearly 2 trillion euros, and it's cracking down on its notoriously wily tax evaders. Owners of luxury yachts are a prime target, with tax police launching dockside raids to see how individual tax files line up with owning and maintaining an expensive boat.
But yachts are mobile assets. In response, many boat owners are simply weighing anchor and setting course for more tax-friendly Mediterranean marinas.
Whether through his lyrically rich songs, the stories he shares between songs, or his one-man plays, Michael Reno Harrell truly represents much of the culture of Southern Appalachia that we love. A regular at house concerts, music venues, and storytelling festivals, Michael returns to WNCW to share songs from his new release "Then There's Me."
Weaverville's own Malcolm Holcombe returns to Studio B for a live session with host Spencer Jones. Among his fans are Lucinda Williams, Steve Earle, and numerous WNCW listeners who routinely rank him high on our annual Top 100 lists. We've said it before and we'll say it again: Malcolm Holcombe is one of our region's most gifted songwriters.
It's not one but TWO new releases we feature for you this Thursday evening, as Los Angeles singer/songwriter Dan Bern has issued two new albums simultaneously. "Drifter" is his first studio release in 6 years, and "Doubleheader" is an 18-song tribute to the great American pastime and one of his greatest passions, baseball. Both feature the Brooklyn trio Common Rotation as his band.
Following his great success with "Bring the Family", John Hiatt assembled his road band The Goners (including Sonny Landreth and Bernie Leadon) into the studio to record 1988's "Slow Turning." From the opening "Drive South", "Trudy & Dave", and "Tennessee Plates", to the closer "Feels Like Rain", it's an album of hard-won lessons about life and love...as we've come to expect from one of 'NCW's favorite singer-songwriters.