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...In February, the Chinese commerce ministry issued a statement criticising sanctions imposed on 17 companies in Hong Kong and mainland China for alleged violations of Russia-related sanctions....
...Maria Cantwell, the influential Democratic chair of the Senate commerce committee who had raised concerns about earlier efforts on TikTok that failed, welcomed the new legislation from the House....
...The Delaware court this year invalidated such a practice at the investment bank Moelis & Co, which had given its founder veto power over nearly all of the standard work conducted by a board of directors....
...Beijing’s commerce ministry said last year it would “firmly oppose” a forced sale by ByteDance....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...The odds are it will be coming from card-issuing banks such as JPMorgan, Citigroup or Bank of America rather than Visa or Mastercard. Banks have plenty of ways to offset lower interchange fees....
...The House energy and commerce committee last week approved it in a unanimous 50-0 vote....
...Last year, China’s commerce ministry said it would “firmly oppose” a forced sale of TikTok....
...UK business sentiment: The British Chambers of Commerce publishes its quarterly economic survey....
...Instead, it will be smaller regional banks that will feel more of this pressure....
...The bank, born of two mergers (one of them with Signature!), sped across the $100bn asset threshold, triggering a change in rules....
...Profits may be hit by additional fees as part of the Federal Deposit Insurance Corporation’s plan to recover losses associated with rescuing Silicon Valley Bank and Signature Bank last year, most of which...
...Just last week, we brought you the tale of the co-head drama inside the bank....
...A study released last month by a non-profit associated with the Texas Chamber of Commerce found that the laws could undermine the state’s efforts to foster a pro-business climate and cost the state $37.1mn...
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...Republicans and Democrats on the House energy and commerce committee unanimously passed the bill this week, despite a campaign in which TikTok mobilised its users to lobby members of Congress....
...Analysts at Bank of America think late fees represent between 14 per cent and 30 per cent of the companies’ credit card revenue....
...China has powers to block the export of ByteDance’s algorithms that power TikTok and Beijing’s commerce ministry said last year it would “firmly oppose” a forced sale by ByteDance....
...The commerce ministry has called for the “healthy development” of the country’s overseas EV expansion, including co-operating more with foreign partners and utilising free trade deals....
...The House energy and commerce committee approved the bipartisan bill 50-0 on Thursday after a classified briefing from officials about the risks the app posed to Americans because of its ownership by the...
...Stocks of other smaller banks also fell, with the KBW Regional Bank index declining by 6 per cent....
...Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said the data suggested the eurozone had returned to quarter-on-quarter gross domestic product growth of about 0.3 per cent since the start...
...But don’t write the market off, says the bank’s Philippe Houchois. From 2025, European carmakers must comply with new standards for average fleet CO₂ emissions....
...It has emphasised its technology prowess in building a digital-first bank. While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...Raghavan’s move to Citi puts him at the heart of one of the biggest reorganisations of a major bank in years. As Citi’s new head of banking, it also lands him in charge of its most troubled unit....
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