Hints and tips:
...Panamanian workers had to be paid in cash every 14 days, yet Koch and some of his colleagues frequently found themselves frozen out of their local bank accounts, probably due to the source of their funds...
...The payout to informal workers, he said on Tuesday, would be funded by a tax “advance” levied from banks and finance and insurance companies, which would “maintain balance in the public accounts”....
...It’s meant that for years Citi’s been lagging behind its peers like Wells Fargo and JPMorgan Chase in things like their stock price performance. Here’s the FT’s US banking editor, Joshua Franklin....
...But this is true only in a limited sense. Under post-crisis banking rules, currency and rates trading can be done at the bank holding company level, and therefore take advantage of deposits....
...Animoca shares, which had peaked in January 2022 at around A$4.60 a share on a secondary market for private companies, PrimaryMarkets, last traded at A$1.40....
...Thousands of crypto accounts linked to it were drained in August in an apparent hack....
...From the SEC’s complaint: From the start of FTX’s operations in or around May 2019 until at least 2021, FTX customers deposited fiat currency (eg, US Dollars) into bank accounts controlled by [FTX’s affiliated...
...FTX’s employees paid hundreds of millions of dollars for property in the Bahamas where the firm was located, $135mn for naming rights to a Miami basketball stadium and even racked up a $55,319 tab at the...
...Users start with 500 “Mana”, an on-platform currency that can be redeemed as a charitable donation at M$100 per $1....
...Top US bank investors refuse to back climate proposals Investors refused to back resolutions demanding stricter fossil fuel financing policies at Wells Fargo, Bank of America and Citi yesterday, in a blow...
...In general, consolidation driven by the costs of regulation and technology tends to favour big well-capitalised groups, such as the Swiss specialist wealth banks, US investment banks and universal banks...
...When Elon Musk revealed this year that he had invested $1.5bn of Tesla’s corporate cash in bitcoin, many grown-up financiers winced. No wonder....
...European banks have struggled to compete with US rivals like JPMorgan Chase, Bank of America and Wells Fargo. 3....
...(FT) Earnings Bank of America and Goldman Sachs follow JPMorgan Chase, Citigroup and Wells Fargo last week and report fourth-quarter earnings on Tuesday. Netflix publishes results after markets close....
...Brian Kleinhanzl, analyst at KBW, says JPMorgan, Bank of America, Wells Fargo and Goldman all have strategies to “develop these feeder systems for the wealth management businesses — they are all trying to...
...Wells Fargo said it was helping 1.3m customers as of April 10, while as many as 20 per cent of Goldman Sachs’ credit card and personal loans customers were taking payment holidays by April 20....
...There’s a difference between no longer being in the hallowed “G5” group of currencies — which it is not at all clear the pound has fallen out of permanently either — and being an emerging market currency...
...They see advantages for well-located, open-air retail parks....
...Further reading ● Wells Fargo to pay $3bn for fake-accounts scandal Intel is due to begin its fight against the 2009 EU antitrust ruling at Europe’s second-highest court on Tuesday....
...Wells Fargo’s results are on Tuesday, while Bank of America, which is forecast to post a fall in quarterly profit, BlackRock and Citigroup report on Wednesday....
...(FT) Top level departures at Wells Betsy Duke, chairman of Wells Fargo, and James Quigly, head of the bank’s audit and risk committee, have both resigned ahead of a scheduled appearance before the Democrat-controlled...
...Primary consumer checking accounts and US business loans — two areas the bank had prioritised in its recovery — grew at 1 and 4 per cent, respectively, both slightly slower than in the fourth quarter of...
...Taking the company at face value, it is hard not to see a healthy deceleration in the US....
...Then Q2 GDP will fall 1.7%, or an annual rate of 6½-7% in the US mode of presenting accounts. It could be more, it could be less – nobody knows, and there are no precedents....
...Banking on Big Tech Google is talking to US banks about offering current accounts to its customers, accelerating Silicon Valley’s incursion into financial services after Apple’s credit card launch and Facebook...
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