Barclays hit by $361 million U.S. penalty for ‘staggering’ blunder

Barclays hit by 1 million U.S. penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with U.S. regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO C.S. Venkatakrishnan’s first year in charge. Barclays shares rose 2% in early trading … Read more

“Super bearish” fund managers’ allocation to global stocks at all-time low, Bank of America survey shows

“Super bearish” fund managers’ allocation to global stocks at all-time low, Bank of America survey shows

A sign for a Bank of America office is pictured in Burbank, California August 19, 2011. Bank of America Corp plans to cut 3,500 jobs in the next few weeks as CEO Brian Moynihan tries to come to grips with the bank’s $1 trillion pile of problem home mortgages. REUTERS/Fred Prouser/File Photo Register now for … Read more

Kim Kardashian to launch private equity firm with former Carlyle partner

Kim Kardashian to launch private equity firm with former Carlyle partner

Register now for FREE unlimited access to Reuters.com Register Sept 7 (Reuters) – Reality television star and entrepreneur Kim Kardashian and a former partner at Carlyle Group Inc (CG.O) Jay Sammons are launching a new private equity firm focused on investing in consumer and media businesses, according to a joint statement. The new firm, named … Read more

U.S. bank regulator warns of crisis risk from fintech proliferation

U.S. bank regulator warns of crisis risk from fintech proliferation

Representations of cryptocurrencies in this illustration taken January 24, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register NEW YORK, Sept 7 (Reuters) – The rise of fintech services and digital banking could spur financial risks and potentially a crisis over the long term, Michael Hsu, Acting Comptroller of the Currency, a … Read more

Trump media deal suffers blow as SPAC fails to win extension

Trump media deal suffers blow as SPAC fails to win extension

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Sept 6 (Reuters) – The blank-check acquisition firm that agreed to merge with former U.S. President Donald Trump’s social media company failed … Read more

Exclusive: U.S. regulators to vet Alibaba, other Chinese firms’ audits -sources

Exclusive: U.S. regulators to vet Alibaba, other Chinese firms’ audits -sources

Register now for FREE unlimited access to Reuters.com Register Alibaba notified of U.S. audit inspection -sources Vetting of U.S.-listed Chinese firms’ audits starts next month Follows landmark U.S.-China audit deal Alibaba shares fall nearly 3% HONG KONG, Aug 31 (Reuters) – U.S. regulators have selected e-commerce giant Alibaba Group Holding Ltd (9988.HK) and other U.S.-listed … Read more

NYSE delistings signal Beijing may be willing to compromise on U.S. audit dispute -analysts

NYSE delistings signal Beijing may be willing to compromise on U.S. audit dispute -analysts

A trader enters the floor of the New York Stock Exchange (NYSE) in New York City, U.S. June 14, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register HONG KONG, Aug 15 (Reuters) – The move to delist five Chinese state-owned enterprises (SOEs) from the New York Stock Exchange (NYSE) signals Beijing … Read more

Exclusive: Wall Street revives Russian bond trading after U.S. go-ahead

Exclusive: Wall Street revives Russian bond trading after U.S. go-ahead

NEW YORK, Aug 15 (Reuters) – Several major Wall Street banks have begun offering to facilitate trades in Russian debt in recent days, according to bank documents seen by Reuters, giving investors another chance to dispose of assets widely seen in the West as toxic. Most U.S. and European banks had pulled back from the … Read more

Five Chinese state-owned companies to delist from NYSE amid U.S. tensions

Five Chinese state-owned companies to delist from NYSE amid U.S. tensions

SHANGHAI/HONG KONG, Aug 12 (Reuters) – Five Chinese state-owned companies, including oil giant Sinopec (600028.SS) and China Life Insurance (601628.SS), said on Friday they would delist from the New York Stock Exchange, amid economic and diplomatic tensions with the United States. The companies, which also include Aluminium Corporation of China (Chalco) (601600.SS), PetroChina (601857.SS) and … Read more

Tesla shareholders broadly follow board recommendations at annual meeting

Tesla shareholders broadly follow board recommendations at annual meeting

Aug 4 (Reuters) – Tesla Inc (TSLA.O) shareholders voted for board recommendations on most issues at the company’s annual meeting on Thursday, including re-electing directors, approving a stock split, while rejecting proposals focused on environment and governance. Votes on three of the 13 proposals did not follow board recommendations, according to preliminary tallies presented at … Read more