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News Roundup
It’s time for another look at some interesting stories from around the web. Webull is under scrutiny over alleged national security concerns tied to China, while American Express has been hit with a $350 million penalty over anti-money laundering failures.
On the travel side, JW Marriott has opened its first all-inclusive resort, Cathay Pacific has suspended Japan Airlines award bookings, and several major hotel brands are rolling out new and refreshed properties. There’s also a new Cardlytics partnership with Rove that could help members earn more toward future trips.
Trading platform Webull’s China ties create national security risk, congressional panel finds; stock drops 18%
Digital investment platform Webull, which counts 28 million global users, is quietly “tied in structural ways” to China’s government, representing a national security threat to U.S. finance, according to a bipartisan congressional panel’s findings
➡️ Read more at CNBC
JW Marriott Debuts Its First All-Inclusive Resort with the Opening of JW Marriott Costa Elena Resort & Spa
JW Marriott announced the highly anticipated opening of JW Marriott Costa Elena Resort & Spa, marking a significant milestone as the brand’s first-ever all-inclusive resort worldwide. More than a traditional all-inclusive getaway, the resort introduces JW Marriott’s all-immersive approach to luxury hospitality, creating the space and freedom for guests to enjoy each moment fully, without distraction.
➡️ Read press release
American Express fined $350 million for insufficient anti-money laundering program
US bank regulators fined American Express $350 million after they determined the lender’s programs to identify potential money laundering were insufficient and the company potentially missed billions of dollars in suspicious activity. The US Office of the Comptroller of the Currency and the Federal Reserve announced the enforcement action on Thursday, saying the company, primarily via its national bank, failed to maintain a sufficient anti-money laundering compliance program, including inadequate resources, inexperienced staff, weak training and internal control gaps.
➡️ Read more at Reuters
Cathay Pacific Asia Miles Suspends Japan Airlines Awards
Cathay Pacific has stopped issuing awards on Japan Airlines flights, and you cannot even change existing tickets with JAL segments. It is unclear how long this suspension lasts or what the reasons behind it are.
➡️ Read more at LoyaltyLobby
The Ritz-Carlton Naples, Tiburón unveils new look
The Ritz-Carlton Naples, Tiburón officially unveils its fully reimagined resort, inviting guests and the local community to experience the next chapter of this iconic retreat. Spearheaded by Parker Torres Design, the multi-million-dollar transformation debuts a refreshed lobby, residential-style accommodations, an elevated Club Lounge, Swaying Palm event space, and three new culinary concepts: Palmera, Fenrose, and Café Fenrose. The redesign refines a lush resort rooted in classic leisure and recreation, serving as the inland counterpart to its beachfront sister property.
➡️ Read press release
Cardlytics and Rove Team Up to Help Travelers Earn Their Next Trip Faster
Cardlytics announced a new partnership with Rove, the first universal airline mile program built for Gen Z and Millennials, extending the Cardlytics Rewards Platform (CRP) and further diversifying Cardlytics’ supply footprint.
➡️ Read press release
Hilton Grand Vacations Opens Ka Haku, a Hilton Club in Waikiki
Hilton opened Ka Haku, a Hilton Club. Located in the heart of Waikiki, Ka Haku is the company’s 14th resort in the state and the first Hilton Club-branded property in Hawaii, a distinction reserved for a boutique, highly curated ownership experience. The property offers 205 studios, one-, two- and three-bedroom suites with ocean, mountain and city views, along with an arrival and departure lounge, a state-of-the-art fitness center, pool and bar..
➡️ Read press release
