Citigroup Inc. is shutting down most of its consumer banking operations in Asia, Europe and the Middle East, the latest sign that the original financial supermarket is rethinking how to do business. …
Read More »Coinbase earned more in the first quarter than in all of 2020
Coinbase Global Inc. profited handsomely from bitcoin’s first-quarter rally, generating more profit and revenue in the first three months of 2021 than in all of 2020. The company, which offers a variety …
Read More »The intertwined empires of Greensill and Gupta had raised concerns internally for years
The business empires of metals magnate Sanjeev Gupta and financier Lex Greensill supported each other to fuel their growth. But for years executives and close advisers to both entrepreneurs urged the two …
Read More »Oil rises as shipping remains paralyzed in the Suez Canal, but US prices post a weekly loss
Crude oil futures ended higher on Friday when a 220,000-ton cargo ship blocked the Suez Canal for the fourth day in a row and efforts to dislodge one of the world’s largest …
Read More »Payday could be coming for US bank investors.
It’s getting closer to business as usual for the largest banks in the US when it comes to payments to shareholders. The Federal Reserve is now poised to end the special restrictions …
Read More »Major banks, including JPMorgan and Citi, have invested $ 3.8 trillion in fossil fuels since the Paris Agreement.
Banks can commit to being better stewards of the planet by cutting emissions and other actions, but their money keeps the oil pumping for now. Some 60 of the world’s largest commercial …
Read More »Loyalty plans to launch Bitcoin ETFs
Fidelity Investments unveiled plans on Wednesday to launch an exchange-traded fund that tracks the price of bitcoin, fueling the money manager’s push to bring cryptocurrencies into mainstream finance. The ETF, called the …
Read More »Hong Kong, Macao Suspend BioNTech Vaccines Due To Packaging Defects
Hong Kong and Macao temporarily suspended Covid vaccines made by BioNTech SE due to a packaging defect, dealing a blow to cities’ efforts to revive their pandemic-hit economies. Both governments said Wednesday …
Read More »Turkish lira sinks after Erdogan fires Central Bank head
Turkey’s currency fell 9% on Monday, heading for its biggest single-day selloff since 2018, following the abrupt removal of the central bank governor last week. The lira fell to a low of …
Read More »The lira and Turkish stocks crash after Erdogan fires the central bank head as other emerging market currencies struggle
Turkey’s currency and equities collapsed after the abrupt termination of its central bank chief, a move that prompted investors to take a cautious stance toward risky assets on Monday. The dollar USDTRY, …
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