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Rio Tinto Group agreed to pay a $28 million fine to settle a six-year investigation by the US

China exported small amounts of two minerals crucial to high-tech manufacturing in October, marking a resumption in sales

Binace, the world’s largest cryptocurrency exchange, will pay over $4bn to US officials after admitting to unlicensed money transfers, sanctions violations, and willfully failing to institute anti-money laundering protections, federal officials announced on Tuesday. The oversights allowed trading with sanctioned nations like Iran, Cuba, and Syria, and failed to institute systems to report suspicious potential transactions with terror groups, according to the Treasury Department. “Binance was allowing illicit actors to transact freely, supporting activities from child sexual abuse to illegal narcotics to terrorism,” Treasury Secretary Janet Yellensaid on Tuesday. Changpeng Zhao, the founder of and CEO of Binance, is also stepping down, and will pay a $50m fine after pleading guilty to related charges. He could face up to 18 months in prison. “I made mistakes, and I must take responsibility,” the executive wrote on X. “This is best for our community, for Binance, and for myself.” Federal officials described a wide-ranging set of problems at the crypto exchange, which at times handled two-thirds of global crypto trades. “It willfully enabled hundreds of millions of dollars in transactions between American users and users subject to US sanctions,” US Attorney General Merrick Garland said in remarks on Tuesday. “And its platform accommodated criminals across the world who used Binance to move their stolen funds and other criminal proceeds. “Binance prioritized its profits over the safety of the American people.” The massive penalty, one of the largest in US financial regulation history, will also go towards resolving inquiries from the Commodity Futures Trading Commission, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCen), and the Office of Foreign Assets Control. On multiple occasions, Binance leadership intentionally took steps that allowed dangerous and illegal transactions to take place, according to the Justice Department. Binance knew it served US customers, meaning it had to register with FinCen and implement anti-money laundering controls, but “chose not to comply,” per the DOJ. Rather than set up these protections, the company created a separate Binance.US platform in 2019, while seeking to encourage VIP customers to obscure their accounts and continue using the main exchange, officials said. “Binance executives, including Zhao, made a plan to contact VIP customers and help the VIP register a new account for an offshore entity and transfer holdings to that account,” the DoJ said in an announcement of the agreement on Tuesday. “Binance employees also called US VIPs to encourage them to provide information that suggested the customer was not located in the United States.” The company, knowing it had US customers, also failed to introduce controls that would stop them from making trades with sanctioned jurisdictions like Iran, resulting in over $898m in trades between US and Iran-based users between January 2019 and May 2022. At one point, according to the DoJ, Zhao told employees it was “better to ask for forgiveness than permission,” while in another instance, a compliance employee wrote in a message, “We need a banner ‘is washing drug money too hard these days - come to binance we got cake for you.’” In a statement on Tuesday, Binance acknowledge making “criminal violations.” “These resolutions acknowledge our company’s responsibility for historical, criminal compliance violations, and allow our company to turn the page on a challenging yet transformative chapter of learning and growth,” the company wrote. “With the compliance and governance enhancements enshrined in our commitments, we can begin to share our vision for Binance’s exciting future and the future of the crypto industry.” The company also emphasised that the resolutions don’t allege Binance misappropriated user funds or engaged in market manipulation. Richard Teng, the company’s former global head of regional markets, will take over as CEO, according to Binance. The massive agreement with federal regulators will also require Binance to accept the appointment of a government monitor to oversee the business and bar Zhao from involvement with the company until three years after the monitor is appointed, according to court records viewed by The New York Times. Notably, the Securities and Exchange Commission was not a part of the Binance agreement. The SEC sued Binance and Zhao in June, alleging that they used companies beneficially owned by Zhao to inflate trading prices and make money off customers, allegedly mixing customer funds with Binance money. “While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously,” the company responded at the time in a statement. “And, to be clear: any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong, and there is zero justification for the Staff’s action in light of the ample time the Staff has had to conduct their investigation,” the company added in the statement. The massive settlement comes just weeks after FTX founder Sam Bankman-Fried was found guilty in federal court of defrauding customers on his popular cryptocurrency exchange out of billions of dollars. Bankman-Fried’s defence team has vowed to fight the charges.

By Valerie Volcovici WASHINGTON The Biden administration announced on Tuesday it has opened up $2 billion in grants

By Khushi Mandowara and Christy Santhosh Medtronic beat second-quarter profit and revenue estimates and raised its annual earnings

Gerwyn Williams says he was arrested "for no reason at all" and was fearful for his life.

Renewing the twinning of Vale with a town in France would benefit Guernsey, project leaders say.

The 41 workers have been trapped in an under-construction tunnel in northern India since 12 November.

X, formerly known as Twitter, filed a federal defamation suit on Monday in Texas against Media Matters for America, accusing the media watchdog group of kicking off an advertiser exodus with a “harmful” article alleging the social network let top brands display ads near antisemitic and pro-Nazi posts. The liberal-leaning media observer allegedly curated a feed specifically with fringe accounts and those belonging to corporations like IBM, Comcast, Apple, and Oracle, then displayed screenshots of the unsavoury posts appearing near company ads in a critical article, according to the lawsuit. The Media Matters analysis, published last week, also alleges that X owner Elon Musk has increasingly begun a “descent into white nationalist and antisemitic conspiracy theories.” The lawsuit does not dispute that some top brands’ ads were featured near the inflammatory content. Rather, it suggests Media Matters gamed X to produce extremely unlikely pairings that are usually screened out by the service’s advertising tools, alleging that one harmful match appeared for “only one viewer (out of more than 500 million) on all of X: Media Matters.” “Not a single authentic user of the X platform saw IBM’s, Comcast’s or Oracle’s ads next to that content, which Media Matters achieved only through its manipulation of X’s algorithms,” the suit continues. “Media Matters created these pairings in secrecy, to manufacture the harmful perception that X is at best an incompetent content moderator (a harmful accusation for any social media platform), or even worse that X was somehow indifferent or even encouraging to Nazi and racist ideology,” the suit argues elsewhere. Media Matters told The Independent in a statement that its analysis of X and its content policies remains valid. “This is a frivolous lawsuit meant to bully X’s critics into silence,” Media Matters President Angelo Carusone said in the statement. “Media Matters stands behind its reporting and looks forward to winning in court.” Top executives at X have railed against Media Matters in recent days. “If you know me, you know I’m committed to truth and fairness. Here’s the truth,” Linda Yaccarino wrote on X on Monday. “Not a single authentic user on X saw IBM’s, Comcast’s, or Oracle’s ads next to the content in Media Matters’ article. Only 2 users saw Apple’s ad next to the content, at least one of which was Media Matters. Data wins over manipulation or allegations.” Mr Musk, meanwhile, called the organisation “pure evil” in an X post of his own. Outside of the disputed accuracy of the Media Matters report, Mr Musk has openly endorsed a right-wing conspiracy theory on X in recent days, prompting criticism that he’s fueling antisemitism. Last Wednesday, the billionaire X owner responded to a tweet echoing claims of the racist and often antisemitic “great replacement” theory, including that Jewish people were “flooding” America with “hordes of minorities” to promote “dialectical hatred against whites.” Mr Musk called the claim “the actual truth.” The theory referenced in the original post was among the hateful ideas directly referenced by the gunman who killed 11 people at a Pittsburgh synagogue in 2018, the deadliest antisemitic attack in US history. “At a time when antisemitism is exploding in America and surging around the world, it is indisputably dangerous to use one’s influence to validate and promote antisemitic theories,” Jonathan Greenblatt, CEO of the Anti-Defamation League civil rights group, which monitors antisemitism and other forms of extremism, wrote on X in response to Mr Musk. The White House also weighed in, alleging the tech CEO was contributing to the spread of “abhorrent promotion of antisemitic and racist hate.” “It is unacceptable to repeat the hideous lie behind the most fatal act of antisemitism in American history at any time, let alone one month after the deadliest day for the Jewish people since the Holocaust,” the White House said in a statement. The Independent contacted Mr Musk during the backlash against his response to the post and did not receive an answer. Amid the controversy, Mr Musk has alternatively defended X’s content policies and appeared to mock critics who allege the network is harbouring hateful content. Last week, he shared a clip of someone playing a video game level called “Echo of Hatred,” with the caption “defeating hatred is never easy.” “Clear calls for extreme violence are against our terms of service and will result in suspension,” he wrote elsewhere on X on Friday. This summer, a study from the Center for Countering Digital Hate alleged X failed to take down 99 per cent of a selection of hate content flagged by the group. The group alleged that “the platform is allowing them to break its rules with impunity and is even algorithmically boosting their toxic tweets.” Read More Musk's X sues liberal advocacy group Media Matters over its report on ads next to hate groups' posts Elon Musk and Trump aide want journalists jailed over X Hitler exposé IBM pulls ads from Elon Musk's X after report says they appeared next to antisemitic posts Dates and venues for three 2024 presidential debates announced 2024 polls: Three presidential debates revealed for next year Torso found washed up on New York beach could be missing Irish filmmaker: NYPD

Michelle Obama, Amal Clooney and Melinda French Gates tell the BBC about need to end child marriage.

The lawsuit says Media Matters "manipulated" data in an attempt to "destroy" the social media site.

Javier Milei couldn’t have hoped for a better reception from investors on his first day as Argentina’s president-elect.