Bank of America has been ordered to pay more than $1.21 billion in penalties over failures to meet US anti-money-laundering and sanctions requirements, in an enforcement action that the Treasury Department described
HSBC Holdings has hired former Citigroup executive Ida Liu to run its global private banking business, according to people familiar with the matter, marking a key leadership appointment as the bank reshapes
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SoftBank Group is racing to assemble a $22.5 billion funding commitment to OpenAI by the end of the year, turning to asset sales, balance-sheet cash and potential borrowing as founder Masayoshi Son
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India’s securities regulator, the Securities and Exchange Board of India (SEBI), is planning significant reforms to its merger and acquisition rules, including barring acquiring companies from offering higher prices or additional compensation
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JPMorgan Chase has withdrawn almost $350 billion in cash from its account at the Federal Reserve since 2023, redirecting much of the money into US government debt as it prepares for an
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Australia will lock in A$20 billion ($13.3 billion) in savings in its mid-year budget update to be released Wednesday, as the government moves to contain mounting spending pressures, Treasurer Jim Chalmers said.
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The military-led governments of Mali, Burkina Faso, and Niger have established a regional investment bank with an initial capital of 500 billion CFA francs ($895 million) to finance infrastructure, energy, and agricultural
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Japan’s SoftBank Group and U.S. chip giant Nvidia are in advanced talks to pour more than $1 billion into Skild AI, a fast-rising developer of foundation models for robots, according to sources
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Capital Group, the world’s largest active-only money manager, is stepping into a more high-profile phase, launching a strategic push to expand its private-market offerings and attract retail investors, Bloomberg reports. The $3.3
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HSBC Holdings has appointed interim chairman Brendan Nelson to the role on a permanent basis, marking an unexpected conclusion to the bank’s seven-month search for a successor to former chair Mark Tucker.
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The world’s biggest hedge funds are obtaining “substantially higher” leverage in bond markets than their smaller competitors, thanks to access to near-zero haircuts on repo transactions provided by major dealers, the Bank
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After one of India’s weakest years in decades, some of Wall Street’s biggest names are forecasting a market rebound next year, according to Bloomberg. Morgan Stanley, Citigroup Inc., and Goldman Sachs Group
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Singapore state investment firm Temasek Holdings is in advanced negotiations to acquire a minority stake in Quest Global Services, a deal that would value the engineering solutions provider at approximately $4.6 billion,
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OpenAI may need to raise more than $200 billion in fresh capital by the end of the decade to keep pace with soaring computing demands and global AI competition, according to new
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BlackRock Inc., the world’s largest asset manager, is planning a rapid expansion of its investments in Saudi Arabia and the broader Middle East over the coming years, aiming to capitalize on the
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Since the start of the year, foreign investors have completed $8 billion in Indian banking deals, up from $2.3 billion last year and $1.4 billion in 2023, Dealogic data cited by the
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