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G7 may reallocate $100 bln from IMF funds to COVID-ravaged nations

“The United States and our G7 partners are actively considering a global effort to multiply the impact of the proposed Special Drawing Rights (SDR) allocation to the countries most in need,” the U.S. president’s office said.

“At potentially up to $100 billion in size, the proposed effort would further support health needs – including vaccinations,” it said, adding that it would help promote a more sustained and inclusive global recovery.

Deloitte sued over alleged role in Singapore trader collapse

Deloitte audited the books of Hin Leong Trading Ltd. for at least 16 years before the firm collapsed last year when founding tycoon Lim Oon Kuin admitted trading losses of $808 million weren’t reflected in the firm’s financial statements, according to a court filing.

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