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
Citadel’s purchase of most of hedge fund Situational Awareness’ public equity portfolio has helped calm investor concerns after a sharp semiconductor market downturn erased around $3 trillion in value. The deal, first
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The Indian rupee is expected to hold above the 96-per-dollar mark when trading opens on Tuesday, with sustained intervention by the Reserve Bank of India (RBI) and a decline in global oil
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A former JPMorgan Chase banker has expanded his lawsuit against the United States’ largest bank, filing an amended complaint that adds new defendants and fresh allegations of racial discrimination, sexual coercion and
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Bank Indonesia Governor Perry Warjiyo resigned on Monday, citing personal reasons that were not publicly disclosed, setting in motion the formal legal process to appoint a new head of Indonesia’s central bank.
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HSBC has agreed to sell its Singapore insurance business to Allianz for $2.1 billion, marking another significant step in chief executive Georges Elhedery’s drive to simplify the bank’s global operations while sharpening
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Meta is facing higher borrowing costs as investors seek greater compensation for financing its latest artificial intelligence infrastructure project, underscoring growing caution in debt markets over the rapid expansion of AI investment.
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Australia’s corporate regulator has announced tougher oversight of the country’s auditors following the KPMG leak scandal, warning that it will pursue stronger legal and disciplinary action where misconduct is identified. The Australian
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Revolut is set to invest A$400 million (US$280 million) in Australia after securing a full banking licence, marking a major expansion as the UK-based fintech seeks to challenge the country’s dominant banking
More JPMorgan and several other US banks are close to agreeing to provide financing for projects under Japan’s US$550 billion investment commitment in the United States, according to two people familiar with discussions
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Morgan Stanley has become the leading investment bank structuring some of the largest financing deals fueling the rapid expansion of artificial intelligence infrastructure, as demand for computing capacity drives unprecedented investment in
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China’s central bank has once again chosen calibration over shock therapy. Following the second-quarter meeting of its monetary policy committee, the People’s Bank of China (PBOC) said on July 8 it will
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SoftBank’s Son Dismisses AI Critics as He Predicts Technology Will Drive One-Fifth of Global Economy
SoftBank founder Masayoshi Son has sharply criticised opponents of artificial intelligence, arguing that resistance to the technology is equivalent to rejecting technological progress, as he projected AI would account for 20% of
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Goldman Sachs has introduced new restrictions on employee participation in prediction markets, limiting betting activity to sports and entertainment categories as the Wall Street bank seeks to address compliance risks associated with
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China now has seven of the world’s 10 largest banks by tier-one capital, with the country’s four biggest state-run lenders taking the top positions in a new global ranking that reflects Beijing’s
More Australia’s corporate regulator has launched a review of audit conduct complaints involving the country’s Big Four accounting firms as it continues an ongoing investigation into allegations of auditor misconduct at KPMG. The
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