Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Falling gas prices and CPI decline could boost public finances before 2024 general election
Britain’s inflation rate could fall to below 2% by the end of the year, according to new financial industry forecasts, handing the chancellor a boost to the public finances before a general election in 2024.
Predictions that falling gas prices will accelerate the decline this year in the consumer prices index (CPI) from last month’s level of 10.1% could also support a recovery in household living standards and persuade the Bank of England to cut interest rates earlier than expected.
Bonus pool could be slashed by up to 40%, in possibly the lender’s largest cut to payouts since the financial crisis
Goldman Sachs bankers are reportedly at risk of having their bonus pool slashed by up to 40%, in what could be the lender’s largest cut to payouts since the 2008 financial crisis.
The bank is still in the process of deciding the size of its bonus pools for 2022, but the prospective cut could mean its 3,000 investment bankers endure the most significant drop in variable pay among their peers, according to the Financial Times, which first reported the news.
Judge dismisses case against British former trader Tom Hayes, who was jailed over interest rate scandal
A New York court has dismissed a criminal indictment against Tom Hayes, the British former trader at UBS and Citigroup who served five and a half years in a UK prison for rigging the Libor lending benchmark.
Prosecutors in the US filed a motion to dismiss the case against Hayes and another former UBS trader, Roger Darin.
Tech firms and banks, including Bank of America, Goldman Sachs, Citigroup and JPMorgan Chase, add ‘critical healthcare’ package
Many US corporate giants have moved swiftly to provide support and financial assistance to employees seeking abortions in states that outlawed the procedure following the US supreme court’s decision on Friday to overturn its landmark Roe v Wade ruling.
With potentially millions of women soon looking to cross state lines for the procedure, many employers have added “critical healthcare” packages to employees benefit packages.
A leading bank CEO condemned the Trump administration's "zero-tolerance" immigration policy that led to more children and parents being separated at the U.S.-Mexico border, as did a New York nonprofit co-led by another big-bank chief. President Donald Trump signed an executive order on Wednesday ending the family separations but other immigration issues remained unresolved.
An internal report by a banking regulator projects how it might help JPMorgan and Citigroup, which owns Citibank. A bipartisan Senate bill quickly moving toward passage could allow two of the nation's biggest banks to reduce the amount of money they must keep on hand as a buffer against collapse by a collective $30 billion, an internal analysis by a top banking regulator has found.
As ABC News reports, Ron Wyden wrote to the Treasury Department last Friday, arguing that "It is imperative that Congress follow the money and conduct a thorough investigation into any potential money laundering or other illicit financial dealings between the president, his associates, and Russia." Senator Ron Wyden, D-Ore., is probably wasting his time scrutinizing President Trump's 2008 Palm Beach property sale to Russian oligarch Dmitry Rybolovlev.
The shock slowdown in India's growth has economists rushing to cut their estimates for the end of the year. Their pessimism isn't shared by currency strategists who are raising forecasts for the rupee.
Citigroup Inc third-quarter total markets revenue is running about 15 percent less than a year earlier when volatility was boosted by reactions to the Brexit vote and U.S. elections, Chief Financial Officer John Gerspach said on Monday at an investor conference. NEW YORK: Citigroup Inc third-quarter total markets revenue is running about 15 percent less than a year earlier when volatility was boosted by reactions to the Brexit vote and U.S. elections, Chief Financial Officer John Gerspach said on Monday at an investor conference.
AIB SETTLED CITIGROUP DISPUTE OVER RUSNAK AT FRACTION OF $872m CLAIM - AIB received only a fraction of the $872 million it had sought from Citigroup when it agreed last year to settle a 12 -year case against the US bank in relation to the John Rusnak trading scandal. The Irish Times has established that the amount received by AIB under a settlement struck in January 2016 came to less than 5% of its original claim.
The new acting chief of one of Washington's major banking regulators has agreed to stay away from issues involving dozens of former legal clients, including 14 banks that the agency oversees, according to his ethics agreement. Keith Noreika, who represented lenders as a private lawyer, plans to recuse himself from matters related to JPMorgan Chase & Co., Bank of America Corp., Goldman Sachs Group Inc. and Citigroup Inc., firms the Office of the Comptroller of the Currency regulates. Democratic lawmakers had already questioned whether Noreika's close ties to the industry would prevent him from being an impartial watchdog.
At a Lincoln Center gala that raised $3.1 million Tuesday night, Dave Matthews and Yissy Garcia, a woman drummer with a mohawk, played for Evercore Chief Executive Officer Ralph Schlosstein and Citigroup's head of corporate and investment banking, Raymond McGuire. Thank President Obama for giving the bankers the opportunity.
Aug 5 A federal appeals court rejected a one-time Florida billionaire's bid to revive his $800 million lawsuit accusing Citigroup Inc of fraudulently hiding its exposure to subprime and other toxic mortgages, inducing him to hold on to shares he otherwise would have sold. The 2nd U.S. Circuit Court of Appeals in Manhattan on Friday said Citigroup and former officials, including two chief executives Charles Prince and Vikram Pandit, were not liable to trusts and corporate entities overseen by Arthur Williams and his wife.