UBS share trading stopped temporarily on 27th September after falling by nearly 8%. This occurred in the wake of a Bloomberg news report about a current US Department of Justice probe into the possibility that the financial institution failed to comply with sanctions and, in doing so, helped Russian clients side-step the sanctions. In light…
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Bloomberg News reported that the U.S. Department of Justice launched an all-out probe regarding sanction violations by Credit Suisse. As UBS merged with Credit Suisse earlier this year, it invariably falls under the authority’s spotlight, too. The Swiss government orchestrated the UBS emergency takeover to prevent an economic meltdown in Switzerland and the global impact…
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In Melbourne, an Esso spokesperson suggested that following the uptick in good environmental news, its retired oil platforms would be removed — including the long steel support structures or ‘jackets’ — from the ocean. In doing so, Esso (owned by ExxonMobil) acknowledged scientific studies that disprove the creation of artificial reefs made from fuel waste.…
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The company will pay a staggering $19m for its ESG misstatements and another $6m for the anti-mutual fund violation. After investigation, the SEC found that DWS issued deceptive statements about how it employs ESG factors when doing research and making recommendations. In view of the charges, the company did not follow sound policies and procedures…
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This included sharing the personal correspondence of Caroline Ellison, former chief executive officer (CEO) of the Alameda Research hedge fund, with the New York Times. Ellison, who was romantically involved with the self-proclaimed cryptocurrency king, admitted to fraud and is a key witness in the case against Bankman-Fried. The Manhattan U.S. Attorney and lawyers for…
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Nigel Farage’s claims that his account was ‘debanked’ by Coutts, which is part of NatWest Bank, based on his political views as leader of the Brexit Party, partly motivated this investigation. The politician presented a document that showed the decision to close his account was partially due to his political opinions. However, this internal bank…
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In August alone, active ETFs garnered $9.8bn in investor cash compared to $9.5bn pulled by passive funds. For every $4.06 made from passive funds, active ETFs have gained $1 over the last 12 months. The gap appears larger; however, three years ago, passive funds registered $6.02 for every $1 of active ETFs. That being said,…
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‘Central bank watching’ will be the name of the game this week, with financial markets remaining highly sensitive to any shifts in the interest rate outlook, particularly given the recent ramping up of energy prices. The move higher in energy costs was born out in the US inflation data last week, which could nudge the…
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Poor debt provisions in retail trade spiked to C$81m, compared to a C$9m recovery a year earlier, according to the latest quarter-end results. This performance signifies the increasing pressure flowing from rising borrowing costs. In a communication shared with Reuters, the Bank informed automotive dealers that new agreements are off the table as of 15…
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Tolstedt captained the retail and small business lending institution from 2007 to 2016 and became the only top Executive to face criminal charges. This occurred after the company’s forceful sales culture, which resulted in opening millions of accounts and selling products customers did not want, came to light. Prosecutors in the case vied for a…
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