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US litigation funding in 'state of flux' as deal commitments dip, says report: U.S. commercial litigation funders committed about 14% less capital to new deals ...
reuters.com/legal/transactional/us-litigation-funding-state-flux-deal-commitments-dip-says-report-2024-03-27/
8 of the biggest issues facing the banking industry today: A major shake-up in the payments world, a data breach that's opened up a debate on who is ultimately ...
americanbanker.com/list/8-of-the-biggest-issues-facing-the-banking-industry-today
20 U.S. banks with the most construction loans at the end of Q4: The top five banks have combined construction loans of more than $72 billion.
americanbanker.com/list/20-u-s-banks-with-the-most-construction-loans-at-the-end-of-q4
Why bank stocks still have plenty of upside: A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year ...
americanbanker.com/news/why-bank-stocks-still-have-plenty-of-upside
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5 regulatory issues to watch in banking this year: How the FDIC, the Federal Reserve and other regulators are working to keep banks in compliance through 2024.
americanbanker.com/list/basel-iii-baas-crackdowns-and-other-bank-regulations-to-watch
Morgan Stanley warns: At this point the rally will end and crash: Morgan Stanley warns of possible correction in the stock market due to disappointing corporate ...
boerse-online.de/nachrichten/aktien/morgan-stanley-warnt-an-diesem-punkt-wird-die-rallye-enden-und-crashen-20353980.html
L Catterton Starts India Unit With Ex-Unilever Veteran Mehta: L Catterton, backed by French luxury group LVMH Moet Hennessy Louis Vuitton SE ...
bloomberg.com/news/articles/2024-03-28/l-catterton-starts-india-unit-with-ex-unilever-veteran-mehta
StanChart Sees $30 Billion of Added Inflows Into Indian Bonds: India’s bond market will likely see an additional inflow of as much as $30 billion after the ...
bloomberg.com/news/articles/2024-03-28/stanchart-sees-30-billion-of-added-inflows-into-indian-bonds
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Insurers could face losses of up to $5.4 billion after Baltimore bridge tragedy: Analyst
straitstimes.com/world/united-states/insurers-could-face-losses-of-up-to-us4-billion-after-baltimore-bridge-tragedy-analyst
Quick Glance: Tragedy in Baltimore: Fatal Bridge Collapse and Intensive Investigations
- A cargo ship that lost control and crashed into a bridge in Baltimore had previously undergone engine maintenance in the port, according to the US Coast Guard. Divers retrieved the bodies of two of the six workers who fell into the water, while the search for the others was deemed unsuccessful.
- Investigators commenced gathering evidence from the cargo ship involved in striking the Francis Scott Key Bridge. The victims were from Mexico, Guatemala, Honduras, and El Salvador, with authorities suspecting that the other vehicles with victims were trapped.
UBS Cuts Bonus 2023 Pool by 14% After Credit Suisse Deal, Trading Slowdown: UBS Group AG cut its bonus pool for last year by 14% after a tougher year for ...
bloomberg.com/news/articles/2024-03-28/ubs-cuts-bonus-2023-pool-by-14-after-deal-trading-slowdown
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UBS still reviewing risk of misstatement in Credit Suisse's books: UBS said it is still reviewing potential misstatements in Credit Suisse's financial reports ...
reuters.com/business/finance/ubs-still-reviewing-risk-misstatement-credit-suisses-books-2024-03-28/
UBS reports 14.4 million Swiss francs for CEO Ermotti in 2023: UBS on Thursday said its CEO Sergio Ermotti picked up 14.4 million Swiss francs in 2023 after ...
reuters.com/business/finance/ubs-reports-144-million-swiss-francs-ceo-ermotti-2023-2024-03-28/
Quick Glance: UBS Chief Salary: Ermotti Receives 14.4 Million Swiss Francs
- Sergio Ermotti earned 14.4 million Swiss Francs as UBS Chief in nine months, with a base salary of 2.1 million and a variable part of 12.3 million.
- The entire UBS board received a total of 140.3 million Swiss Francs in 2023, compared to 106.9 million Swiss Francs the previous year.
- UBS adjusted its net profit to 27.8 billion US dollars, due to a slightly lower negative goodwill after acquiring Credit Suisse.
- UBS's CET1 capital ratio was 14.4 percent at the end of 2023, compared to 14.5 percent in early February.
Pension: Almost 900 euros go to waste! Soon it will come thick and fast: The financial burden is likely to increase significantly in just a few years ...
derwesten.de/politik/rente-rentenbeitrag-2035-id300898187.html
China lifts tariffs on Australian wine, ends three-year freeze in trade: China will lift anti-dumping and anti-subsidy tariffs on Australian wine from March 29 ...
reut.rs/4cBEYRE
It looks like 'megalomaniac' Sam Altman is starting to piss off Silicon Valley: Numerous venture capitalists said the OpenAI CEO's charms are wearing off
qz.com/sam-altman-openai-silicon-valley-vc-1851368625
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Apple defeats consumers' crypto-payment antitrust case for now: A federal judge in San Francisco has dismissed a consumer lawsuit accusing Apple of driving up ...
reuters.com/legal/transactional/apple-defeats-consumers-crypto-payment-antitrust-case-now-2024-03-27/
Quick Glance: Apple's Planned Chatbot Absence in iOS 18
- Apple is not intending to include its own generative AI chatbot in upcoming software updates.
- Discussions have been held with companies like Google, OpenAI, and Baidu regarding potential generative AI partnerships.
- Apple will reveal new AI features to aid users in daily tasks, but details remain vague.
- The iOS 18 beta will be accessible to developers post-WWDC keynote, with a full release expected in September.
South African Lawmakers Vote In Favor of Pension-System Overhaul: South African lawmakers on Wednesday backed a bill reforming the country’s pension laws to ...
bloomberg.com/news/articles/2024-03-27/s-african-lawmakers-vote-in-favor-of-pension-funds-reform-law
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Take-Two Interactive to acquire Borderlands maker Gearbox Entertainment from Embracer
reut.rs/3PI3as2
Louis Vuitton makes custom trunks for Paris Games flames, medals: The Olympic and Paralympic flames will each travel in a custom-made Louis Vuitton trunk this ...
reuters.com/sports/louis-vuitton-makes-custom-trunks-paris-games-flames-medals-2024-03-27/
US banks face loss risk from multi-family property loan exposure, says Fitch: U.S. banks with significant lending exposure to some multi-family properties and ...
reuters.com/business/finance/us-banks-face-loss-risk-multi-family-property-loan-exposure-says-fitch-2024-03-27/
BlackRock issued warning over 'misleading statements' tied to ESG funds: BlackRock was issued a legal warning by the U.S. state of Mississippi over
reuters.com/sustainability/boards-policy-regulation/blackrock-issued-warning-over-misleading-statements-tied-esg-funds-2024-03-27/
The SEC can sue Coinbase for offering unregistered securities, judge rules: The ruling is a big win for the SEC, which wants to bring cryptocurrency regulation ...
qz.com/sec-sue-coinbase-for-unregistered-securities-1851369617
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Quick Glance: Coinbase to Face US Securities Regulator's Lawsuit, Judge Rules
- A federal judge in Manhattan stated that the U.S. Securities and Exchange Commission's lawsuit against Coinbase can proceed, but dismissed one claim made by the regulator against the largest U.S. cryptocurrency exchange.
- The decision is a partial victory for Coinbase and largely supports the SEC's approach to cryptocurrencies, aligning with other judges who have sided with the regulatory agency.
- The SEC sued Coinbase in June, alleging that the firm facilitated trading of at least 13 crypto tokens that should have been registered as securities and was operating illegally as a national securities exchange, broker, and clearing agency without registering with the regulator.
- Judge Failla allowed most of the lawsuit to continue but rejected the SEC's claim that Coinbase acted as an unregistered broker through its wallet application.
India's ICICI Securities gets shareholder nod to delist, setting up merger with ICICI Bank
reuters.com/markets/deals/indias-icici-securities-gets-shareholder-nod-delist-setting-up-merger-with-icici-2024-03-28/
Accel earnestly rethinks early-stage startup investing in India: By any benchmark, Accel is among the top venture firms in India. With nearly two dozen Indian ...
techcrunch.com/2024/03/27/accel-earnestly-rethinks-early-stage-startup-investing-in-india/
Robinhood's new credit card goes after Apple Card with ability to invest cash-back perks | TechCr...
tcrn.ch/3IUrCSZ
Robinhood hits over 2-year high as credit card launch fuels investor euphoria: Shares of Robinhood Markets jumped on Wednesday after the financial technology ...
reuters.com/business/finance/robinhood-hits-over-2-year-high-credit-card-launch-fuels-investor-euphoria-2024-03-27/
US offers $10 million bounty for info on 'Blackcat' hackers who hit UnitedHealth: The U.S. State Department on Wednesday offered up to $10 million for ...
reuters.com/technology/cybersecurity/us-offers-10-million-bounty-info-blackcat-hackers-who-hit-unitedhealth-2024-03-27/
US banks to see modest hit from deal to lower swipe fee by Visa, Mastercard: U.S. banks could see a modest hit to their earnings due to the $30 billion ...
reuters.com/business/finance/us-banks-see-modest-hit-deal-lower-swipe-fee-by-visa-mastercard-2024-03-27/
Quick Glance: Settlement between Visa and MasterCard and merchants on antitrust dispute over fees
- Visa and Mastercard announced a settlement with U.S. merchants related to swipe fees, potentially saving consumers billions of dollars.
- Swipe fees are paid to credit card companies like Visa and Mastercard in exchange for facilitating transactions, with merchants passing those fees on to consumers.
- As per the settlement, Visa and Mastercard will cap credit interchange fees until 2030 and must negotiate fees with merchant groups.
- The settlement stems from a 2005 lawsuit alleging that merchants paid excessive fees to accept Visa and Mastercard credit cards, citing antitrust violations by Visa, Mastercard, and their member banks.
UK competition regulator decides against in-depth probe of Aviva, AIG Life UK merger
reuters.com/markets/deals/uk-competition-regulator-decides-against-in-depth-probe-aviva-aig-life-uk-merger-2024-03-28/
UBS looks to keep, grow shipping loans in post-merger green overhaul: UBS will look to increase lending to the shipping sector and run off some loans to fossil ...
reut.rs/3IVtDOR
Twitter user falsely claims dollar sold at N1000: As of 27 March, the post had gained more than 271,500 views, 715 reactions, 178 comments ...
premiumtimesng.com/business/business-news/681514-twitter-user-falsely-claims-dollar-sold-at-n1000.html
Live news: S&P 500 closes at record high in broad rally
ft.com/content/e19c64fe-6661-4f10-bde6-6cb4a5e97667
India sizzles in global equity capital markets amid deals drought in Asia: India's bulging pipeline of large block trades and listings such as the $3 billion IPO ...
reut.rs/4aelS2A
Exclusive: SIX Group CEO rules out Allfunds bid amid M&A hunt: SIX Group has ruled out making a bid for fund distribution group Allfunds after studying an ...
reuters.com/markets/deals/six-group-ceo-rules-out-allfunds-bid-amid-ma-hunt-2024-03-27/
Climate scientist Dr Jim Salinger named New Zealander of the Year: Climate scientist Dr Jim Salinger has been named as the Kiwibank New Zealander of the Year Te ...
rnz.co.nz/news/national/512850/climate-scientist-dr-jim-salinger-named-new-zealander-of-the-year
Electric car repairs are more expensive than expected: No more oil changes, no worn out clutches - Electric cars promised a maintenance paradise ...
focus.de/auto/ratgeber/kosten/hohe-reparaturkosten-die-kosten-zeitbombe-warum-die-geschichte-vom-wartungsarmen-e-auto-einen-haken-hat_id_259801726.html
Corona tests should also have to be paid for in suspected cases from April: The federal government will no longer take over corona tests in ordinations from ...
noen.at/niederoesterreich/politik/tests-in-ordinationen-corona-tests-sollen-ab-april-auch-im-verdachtsfall-zu-bezahlen-sein-415315525
Oil and gas production decreased in the first quarter -Dallas Fed: Oil and gas production in Texas, Louisiana and New Mexico decreased in the first quarter of ...
reuters.com/business/energy/oil-gas-production-decreased-first-quarter-dallas-fed-2024-03-27/
Bain Capital promotes top dealmaker to co-managing partner: David Gross appointed to jointly lead the private equity group from April
ft.com/content/9c95e79d-7e34-481c-a674-ede18f8c6f3d
Quick Glance: Emirates Chief Emphasizes Need for Engineering Background for Boeing CEO
- The head of Emirates, a significant client of Boeing, stressed the importance of the crisis-ridden US aircraft manufacturer ensuring that the new CEO has engineering expertise to restore safety standards.
- Furthermore, Sir Tim Clark supported the efforts of the US company's largest union to secure a board seat.
- In an effort to address an escalating reputational crisis, Boeing introduced a comprehensive restructuring of its top management on Monday, following an incident in January where a door panel of the 737 Max detached during a flight.
- While the management overhaul has been positively received by industry leaders and analysts, the spotlight is now on the upcoming board chair Steve Mollenkopf, who will lead the search for a new CEO.
New mortgage helps first-time buyers get on property ladder with £5,000 deposit: Yorkshire Building Society says its new fee-free deal will help first-time ...
news.stv.tv/world/new-mortgage-helps-first-time-buyers-get-on-property-ladder-with-5000-deposit
Tony Alexander: Extra difficulties for renters lie just around the corner: Demand is rising but rental stock is set to shrink.
oneroof.co.nz/news/tony-alexander-extra-difficulties-for-renters-lie-just-around-the-corner-45243
EVTOL Companies Are Worth Billions—Who Are the Key Players?: And what are they flying?
spectrum.ieee.org/evtol-air-taxi-industry
Renault to sell Nissan stake of about 2.5%: Renault plans to sell a stake of about 2.5% in Nissan shares to the Japanese car maker in a deal that could result ...
reuters.com/business/autos-transportation/renault-sell-about-25-nissan-shares-up-362-million-euros-2024-03-27/
Trump's media company ticker leads to fleeting windfall: Possible confusion over the new stock symbol for former President Donald Trump's Truth Social saw some ...
reuters.com/business/trumps-media-company-ticker-leads-fleeting-windfall-some-investors-2024-03-27/
Deutsche Bank shares scale 6-year high as MS upgrades: Shares in Deutsche Bank climbed to their highest in more than six years on Wednesday ...
reuters.com/business/finance/deutsche-bank-shares-scale-6-year-high-ms-upgrades-2024-03-27/
JPMorgan bets on new wealth planning tool to draw investments: JPMorgan Chase seeks to expand the reach of its wealth management business and bring in more ...
reuters.com/business/finance/jpmorgan-bets-new-wealth-planning-tool-draw-investments-2024-03-27/
Money trail led us to the man who deposited hit payoff: AKA detective: The detective investigating the murders of Kiernan "AKA" Forbes and his friend ...
timeslive.co.za/news/south-africa/2024-03-27-money-trail-led-us-to-the-man-who-deposited-hit-payoff-aka-detective/
Quick Glance: Money Trail Leads to Man Who Deposited Hit Payoff: AKA Detective
- While the accused are applying for bail, the state is opposing it.
- The investigator alleges that Durban businessman Sydney Mfunda Gcaba was the source of an R800,000 payoff.
- The state argues that there are no exceptional circumstances justifying his release on bail.
- The detective team is thoroughly investigating the origins of these and other funds utilized in the planning and execution of the offenses.
New study of unicorn founders finds most are ‘underdogs,’ and female founders are rising
techcrunch.com/2024/03/27/unicorn-founders/
Barclays executive denies discrimination in employee case: Barclays' former Global Head of Race at Work has defended her decision not to investigate further an ...
reuters.com/business/finance/barclays-executive-denies-discrimination-employee-case-2024-03-27/
Quick Glance: Barclays executive refutes discrimination allegations in employee case
- Former Global Head of Race at Barclays, Nazia Lawrence, defends her choice not to pursue a complaint from an employee alleging discrimination based on race, religion, and gender.
- Azura Mason, previously holding the position of Global Head of Race and currently serving as a director in the Chief Compliance Office of the investment bank, found no indications of bias or discrimination in an internal review of Lawrence's appeal, leading to no further investigation.
- Court records show Lawrence's claim of receiving less favorable treatment compared to white male colleagues at the same professional level who were promoted while she was not.
- Apart from seeking financial redress, Lawrence has requested guidance for additional training opportunities at Barclays and the implementation of a transparent protocol for promotions.
Visa and Mastercard ended their long swipe fee battle with a $30 billion settlement
qz.com/visa-mastercard-swipe-fees-merchant-lawsuit-1851366864
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Biden campaign tests waters on Trump’s financial woes: President Biden’s reelection campaign has grown more aggressive in its mocking of former President Trump’s ...
thehill.com/homenews/4558031-biden-campaign-tests-waters-on-trumps-financial-woes/
Quick Glance: Election 2024: Biden tours swing states, Trump fundraises and golfs
- Biden is touring the country and visiting swing states, while Trump remains mainly in Florida.
- Trump is struggling with money shortages and legal issues, focusing on donors.
- Biden emphasizes his activity to dispel concerns about his age, while Trump engages in fundraising and golf.
- Both sides project confidence as they try to highlight the weaknesses of the opponent.
French retailer Casino changes leadership team as boss Naouri's era ends: Food retailer Casino said on Thursday it had completed its financial restructuring and ...
reuters.com/business/retail-consumer/casino-changes-leadership-team-boss-naouris-era-ends-2024-03-28/
Child care benefits for workers effectively pay for themselves, new study finds: But these benefits are still pretty rare in the U.S.
axios.com/2024/03/27/child-care-benefits-shortage
Boeing might be headed for a ratings downgrade as the 2024 hits keep coming: Moody's put two of Boeing's ratings on review for downgrade
qz.com/boeing-moodys-ratings-review-downgrade-1851367459
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Quick Glance: Implications of Boeing CEO's Resignation on Aircraft Manufacturer
- Dave Calhoun, the CEO of Boeing, is set to resign by the end of the year, with additional top executives leaving the company amidst safety concerns tarnishing its reputation following an incident involving an Alaska Airlines 737 Max in January.
- It is emphasized that most Boeing aircraft remain safe, but only time will reveal whether the restructuring in the corporate leadership leads to tangible positive changes.
- Implementing a cultural shift in a vast company like Boeing can prove to be a complex task, particularly for the incoming CEO tasked with rebuilding the company's image.
- Despite thorough investigations and changes at the helm of Boeing, it is crucial to highlight that the company's airplanes are safe and continue to be maintained by dedicated professionals to ensure safety in the aviation industry.
Citi lays off 10 research staff in Asia Pacific as part of global revamp, sources say
reuters.com/business/finance/citi-lays-off-10-research-staff-asia-pacific-part-global-revamp-sources-say-2024-03-27/
Thailand Stocks Worsen Despite Hopes for Markets Revival After Elections: A market revival for Thailand just isn’t coming.
bloomberg.com/news/articles/2024-03-27/exodus-from-thai-stocks-worsens-on-deepening-corporate-setback
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Take-Two Buys Gearbox From Embracer, Confirms Development on New Borderlands Game - IGN
ign.com/articles/take-two-buys-gearbox-from-embracer-confirms-development-on-new-borderlands-game
Fossil fuel-focused Africa Energy Bank on track to start this year: The proposed Africa Energy Bank, which will focus investment in oil and gas projects across ...
reuters.com/business/energy/fossil-fuel-focused-africa-energy-bank-track-start-this-year-2024-03-27/
DFB: Jamal Musiala rages because of the Frankfurt pitch | Sports: Lawn alarm in Frankfurt. THAT is behind the battered underground.
bild.de/sport/fussball/nationalmannschaft/dfb-jamal-musiala-tobt-wegen-frankurter-rasen-87667174.bild.html
Judge in Coinbase case endorses SEC's crypto regulation-by-enforcement strategy: In a ruling on Tuesday that allows the U.S. Securities and Exchange Commission ...
reuters.com/legal/transactional/column-judge-coinbase-case-endorses-secs-crypto-regulation-by-enforcement-2024-03-27/
India central bank keen to further build up record high FX reserves, say sources: India's central bank will keep building its forex reserves as it seeks to build ...
reuters.com/world/india/india-cenbank-keen-further-build-up-record-high-fx-reserves-say-sources-2024-03-27/
Quick Glance: India's Central Bank Focuses on Expanding Record FX Reserves
- India's central bank aims to continue building its forex reserves to create larger buffers. Strong inflows into the Indian equity and debt markets provide an opportunity for this, according to sources familiar with the bank's thinking.
- According to analysts, the absorption of dollar inflows by the Reserve Bank of India will indirectly prevent a sharp appreciation of the rupee, despite high economic growth and a positive balance of payments.
- The pace of reserve building has increased in recent months with significant dollar inflows into the equity and debt markets.
- Barclays Investment Bank forecasts that India's FX reserves are expected to exceed $700 billion by the end of 2025 to keep up with the economy's growth.
UniCredit, Nexi have agreed broad terms to renegotiate payments accord, newspaper says
reuters.com/business/finance/unicredit-nexi-have-agreed-broad-terms-renegotiate-payments-accord-newspaper-2024-03-27/
Visa, Mastercard caps card swipe fees: How this builds personal savings: Fees to decline over five years, savings to be passed to shoppers via lower prices
gulfnews.com/your-money/saving-investment/visa-mastercard-caps-card-swipe-fees-how-this-builds-personal-savings-1.1711553781444
Parisians get ready to leave city with rental cash in pocket: Like many Parisians, Martin Cassan will be heading the other way when the tidal wave of Olympics ...
reuters.com/world/europe/parisians-get-ready-leave-city-with-rental-cash-pocket-2024-03-27/
Schools to close early as cash crunch persists: With early closure, some schools have lost up to two weeks of learning time which could see a rush against time ...
standardmedia.co.ke/education/article/2001492123/schools-to-close-early-as-cash-crunch-persists
Donald Trump is selling Bibles for funds to pay legal bills, wants to ‘make America pray again’ | Mint
livemint.com/news/world/donald-trump-is-selling-bibles-for-funds-to-pay-legal-bills-wants-to-make-america-pray-again-11711513498989.html
Quick Glance: Trump Initiates Bible Sales During Political Campaign
- As he gears up for a White House comeback, Donald Trump has commenced selling Bibles.
- In a video on his Truth Social platform, Trump encouraged his supporters to purchase the 'God Bless the USA Bible' inspired by Lee Greenwood.
- Selling Bibles is just the latest commercial venture Trump has undertaken during his campaign.
- A spokesperson for Trump and the God Bless the USA Bible did not immediately respond to inquiries about the licensing agreement.
Italy Sells 12.5% of Monte Paschi for About €650 Million: Italy sold about 12.5% of Banca Monte dei Paschi di Siena SpA for about €650 million ($704 million) as ...
bloomberg.com/news/articles/2024-03-26/italy-starts-12-5-sale-of-paschi-in-accelerated-book-building
Mongolia ex-PM accused of buying luxury Manhattan flats with corrupt funds: US federal prosecutors say he bought apartments just blocks away from New York's ...
bbc.com/news/world-asia-68672230
Indiabulls Housing Finance accepts bids for dollar bonds, bankers say: Indiabulls Housing Finance has accepted bids worth $350 million for dollar-denominated ...
reuters.com/business/finance/indiabulls-housing-finance-accepts-bids-dollar-bonds-bankers-say-2024-03-27/
Is it Cheaper to Buy or Rent a Home in London? Owning Wins Out, Halifax Says: Owning property in London remains better value than renting, even after mortgage ...
bloomberg.com/news/articles/2024-03-27/is-it-cheaper-to-buy-or-rent-a-home-in-london-halifax-says-owning-wins-out
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Nissan will invest in Renault's Ampere in pursuit of global EV roadmap, CEO says: Japan's Nissan Motor will invest in Renault's electric vehicle (EV) unit Ampere ...
reuters.com/markets/deals/nissan-will-invest-renault-ev-unit-even-though-ipo-scrapped-ceo-says-2024-03-27/
S&P Global downgrades outlooks on five regional US banks to 'negative': Ratings agency S&P Global on Tuesday downgraded five regional U.S. banks to due to their ...
reuters.com/business/finance/sp-global-downgrades-outlooks-five-regional-us-banks-negative-2024-03-26/
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