Mar 29, 2018

Barclays to pay $2 billion settlement in mortgage fraud suit

Barclays bank in central London. Photo: TOLGA AKMEN/AFP/Getty Images

The Justice Department announced Thursday that Barclays has agreed to pay a $2 billion fine, settling an investigation into its handling of mortgage-backed securities between 2005 and 2007.

The details: The civil suit alleged Barclays was responsible for multi-billion dollar losses to investors through a fraudulent scheme, and claimed the company misled investors about the quality of mortgage loans. The DOJ's announcement added that, despite paying $2 billion in civil penalties, Barclays disputes the claims.

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Bethany Allen-Ebrahimian, author of China
23 mins ago - World

Xi's imperial dreams bring both benefits and risks

Illustration: Eniola Odetunde/Axios

By undertaking massive infrastructure projects around the world, China under President Xi Jinping is following in the footsteps of previous empires.

Why it matters: Like previous imperial projects in history, Xi's Belt and Road Initiative presents both benefits and risks for China.

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Sara Fischer, author of Media Trends
24 mins ago - Politics & Policy

TikTok rolls out in-app elections guide

Chesnot/Getty Images

TikTok said Tuesday that its debuting a new in-app elections guide to connect users with credible information about the elections from sources like the National Association of Secretaries of State, BallotReady, and SignVote.

Why it matters: The move comes amid scrutiny from the Trump Administration over whether the Chinese-owned app is a national security threat.

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Axios
Updated 57 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 10:30 a.m. ET: 33,417,386 — Total deaths: 1,002,864 — Total recoveries: 23,193,238 — Map.
  2. U.S.: Total confirmed cases as of 10:30 a.m. ET: 7,150,824 — Total deaths: 205,107 — Total recoveries: 2,794,608 — Total tests: 102,342,416 — Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. Media: Fauci: Some of what Fox News reports about COVID-19 is "outlandish"
  5. States: Cuomo extends New York moratorium on evictions until 2021.
  6. World: More than 1 million people have now died from coronavirus — India the second country after U.S. to hit 6 million cases.
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