Business

U.S. Treasury’s Yellen to attend G20 finance, climate meetings in Italy

Yellen will meet with G20 counterparts and attend the Venice International Conference on Climate with G20 counterparts on July 11. She will then travel to Brussels to meet with European Union counterparts and the Eurogroup “to discuss U.S. policy priorities and respective efforts to support the economic recovery,” the Treasury said. Yellen said on Wednesday […]

Business

Larger-than-life software mogul John McAfee dies in Spain by suicide, lawyer says

McAfee’s lawyer, Javier Villalba, said the anti-virus software pioneer died by hanging as his nine months in prison brought him to despair. During a court hearing last month, McAfee, 75, said that given his age, he would spend the rest of his life in jail if convicted in the United States. “I am hoping that […]

Business

France’s Natixis fined 7.5 mln euros in sub-prime exposure case

A French criminal court on Thursday fined investment bank Natixis 7.5 million euros ($8.95 million) after finding it guilty of misleading investors in 2007 on its financial strength related to its sub-prime exposure. Eric Dezeuze, a lawyer for the bank, said Natixis was lodging an appeal against the ruling as the bank denied any wrongdoing. […]

Business

Citigroup names new sales head for Treasury and Trade Solutions unit

Citigroup Inc (C.N) has named Steve Elms as the new sales head for the bank’s Treasury and Trade Solutions (TTS) unit effective immediately, according to an internal memo shared by a company spokesperson. Elms, who will oversee the management of the global sales teams, has been involved with the bank’s TTS division for over 10 […]

Business

U.S. labor market healing; businesses boost spending as profits rebound

The economy appears to be at cruising speed more than half way through the second quarter, with other data on Thursday showing strong growth in business spending on equipment in May. While the goods trade deficit widened, that was because of an increase in imports as businesses desperately try to keep up with robust demand. […]

Business

Robinhood CEO calls for changes to exchange pricing rules

U.S. securities rules should be changed to allow stock exchanges to quote bids and offers in price increments of less than a penny so they can better compete with wholesale brokerages for retail orders, Robinhood Chief Executive Officer Vlad Tenev said on Thursday. Retail trading volumes have soared over the past year-and-a-half, fueled by the […]

Business

Banks involved in Archegos meltdown face DOJ probe

U.S. investigators who focus on corporate collusion are examining how global banks handled multibillion-dollar trades with Bill Hwang’s Archegos Capital Management, Bloomberg Law reported on Thursday. At least part of the probe is being handled by the U.S. Department of Justice’s (DOJ) antitrust division, the report said, citing people familiar with the matter. Archegos, a […]