NEW YORK, March 6 (Reuters) – Bankrupt crypto companies FTX and BlockFi have resolved their disputes stemming from the companies’ collapses in 2022, with FTX agreeing to pay BlockFi up to $874 million, according to court documents filed on Wednesday. The settlement is subject to approval by U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware. […]
LONDON, March 5 (Reuters) – Britain’s markets regulator will investigate whether small businesses are facing unnecessary barriers to growth because they are increasingly facing bank demands for personal guarantees when they seek loans. The Financial Conduct Authority (FCA) said on Tuesday the Federation of Small Businesses (FSB), a consumer body, had reported that lenders’ growing […]
LONDON/NEW YORK, March 5 (Reuters) – As Tether toasts $100 billion in circulation this week, the rapid rise of the world’s biggest stablecoin has highlighted concerns about potential risks to wider financial markets. The digital dollar-pegged token is designed to keep a constant value, something Tether says that it does by holding dollar-denominated reserves for […]
HONG KONG, March 6 (Reuters) – Morgan Stanley (MS.N), opens new tab has laid off about 9% of its staff at its asset management business unit in China, two people with direct knowledge of the matter said, as the country’s spiralling stock market dampens prospects for its $3.8 trillion fund sector. Morgan Stanley Investment Management China started […]
PARIS, March 5 (Reuters) – JPMorgan Chase & Co (JPM.N), opens new tab said on Tuesday it had joined France’s leading payments network Cartes Bancaires (CB), becoming the first U.S. bank to do so as it seeks to offer cheaper card payment costs to its clients in the country. JPMorgan’s merchant customers, which include some of the […]
ZURICH, March 4 (Reuters) – The Swiss National Bank (SNBN.S), opens new tab should pick an outsider to replace its departing chief Thomas Jordan, a report by a group which campaigns for accountability at the central bank said. SNB Vice Chairman Martin Schlegel has been floated by Swiss media and experts as favourite to replace Jordan, who announced on Friday he […]
March 4 (Reuters) – Short sellers targeting a key regional U.S. bank exchange-traded fund have made $977 million on paper so far in 2024, data from analytics firm Ortex showed, as troubles at New York Community Bancorp (NYCB.N), opens new tab rippled across the industry. The fallout from NYCB’s exposure to the troubled commercial real estate (CRE) […]
Amid the ongoing conflict in Ukraine, Canada’s government has taken a groundbreaking step by allocating $4 million CAD toward a gender-inclusive landmine clearance initiative. This move, part of a broader $3.02 billion CAD support package for Ukraine, aims to address explosive ordnance threats while promoting gender equality in the demining sector. Prime Minister Justin Trudeau’s […]
WASHINGTON, March 3 (Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, and lawmakers have introduced […]
Feb 29 (Reuters) – Metro Bank (MTRO.L), opens new tab named Barclays executive Marc Page as its chief financial officer on Thursday, succeeding James Hopkinson who announced plans to step down last month. Page, who previously held senior roles at Lloyds Banking Group (LLOY.L), opens new tab before moving to Barclays (BARC.L), opens new tab in 2017, was most recently the finance […]