Citigroup is exploring the idea to launch crypto trading, custody, and related financing services, according to The Block. The move reflects growing interest in bitcoin from the bank’s major clients…
Edward Bramson of Sherborne Investors sold all his 6% stake in Barclays PLC, according to the Wall Street Journal. The sale brought an end to Bramson’s years-long effort to reorganize…
Amounts of liabilities vulnerable to defaults, including those of nonbanks, increased about 13.6% to $17.7 trillion last year, according to the Federal Reserve press release. The vulnerabilities amount is now…
U.S banks have sailed the coronavirus pandemic well, according to the Federal Reserve press release. Bank and broker dealers have maintained low leverage, as life insurance companies and hedge funds…
U.S Federal Reserve has warned of heightened vulnerabilities from business debt despite the risk falling since mid-2020. Currently, businesses owe $17.7 trillion, after the debt rose 9.1% or about $425…
The U.S Federal Reserve has noted increasing prices of risky assets as economic recovery accelerates. Fed says valuations are also generally high. Broad equity market indexes are at record highs.…
The Bank of England raised the economic growth from February’s projection of 5.0% to 7.25% this year, according to press release. The upgraded growth is the fastest since 1941 and…
US mortgage rates for a 30-year loan fell to 2.96% from 2.98% last week, the lowest level since February 18. The drop to 2.96% was the fourth in five weeks.…
The UK recorded the fastest growth in service sector production since October 2013 as the activity index hit 61.0 in April, according to the IHS Markit press release. The Business…
US Jobless claims was 498,000 for the week ending May 1, down 92,000 from the previous week, according to the Department of Labor press release. The claims were lower than…
Electric car start-up Nio plans to start deliveries in Norway in September, its first market outside China, according to CNBC. The Chinese EV maker will first launch its ES8 SUV…
PayPal reported revenue of $6.03 billion in Q121, up 31%, or 29% on a currency neutral basis, year over year, according to the company’s press release. GAAP earnings per share…