Category: banks

BRUSSELS, June 24. /TASS/. At a regular meeting of the EU Council foreign ministers of 27 EU countries approved the decision to transfer 1.4 billion euros of profits from Russia’s frozen assets to the European Peace Facility for military assistance to Ukraine, EU foreign affairs chief Josep Borrell told a press conference following the results of the meeting. “The ministers…

WASHINGTON – The US Treasury on June 20 said no major trading partner appeared to have manipulated its currency in 2023, but it added Japan to a foreign exchange “monitoring list”, alongside Singapore, China, Malaysia, Vietnam, Taiwan and Germany, which were on the previous list. The Treasury’s semi-annual currency report found that none of the countries examined met all three…

MOSCOW (Reuters) -Russia-China trade options have narrowed since the U.S. imposed sanctions last week on the only Russian bank branch in China, but President Vladimir Putin’s Chinese visit last month has helped ensure the two countries have payment alternatives for now, three sources said. Since Putin’s visit, specially authorised banks have been set up in border regions which allow Russian…

USS Helena, a Los Angeles-class boat, arrived on Thursday for a “routine port visit,” the US Southern Command said in a statement.  “The vessel’s location and transit were previously planned,” SOUTHCOM added, noting that the Helena is “conducting its global maritime security and national defense mission.” AP described the submarine’s arrival as “a show of force” by Washington, in response…

The Warsaw-based facility will detect “deceptive narratives” on the Ukraine conflict, the US State Department has said. The United States and Poland have launched an international group based in Warsaw to counter what they describe as Russian disinformation on the Ukraine conflict, the US State Department has announced. The Ukraine Communications Group (UCG) is designed to detect “deceptive narratives” from…

It was the first time a former U.S. president was ever tried or convicted in a criminal case, and was the first of Trump’s four indictments to reach trial. Prosecutors accused Trump of falsifying internal business records to cover up hush money payments tied to an alleged scheme to bury stories that might torpedo his 2016 White House bid. At…

KYIV, Ukraine (AP) — A Ukrainian court on Friday ordered the detention of the country’s farm minister in the latest high-profile corruption investigation, while Kyiv security officials assessed how they can recover lost battlefield momentum in the war against Russia. Ukraine’s High Anti-Corruption Court ruled that Agriculture Minister Oleksandr Solskyi should be held in custody for 60 days, but he…

SEOUL, South Korea (AP) — South Korean police said Friday they searched the office of the hard-line incoming leader of an association of doctors and confiscated his mobile phone as he faces accusations that he incited the protracted walkouts by thousands of medical interns and residents. The development could further dim prospects for an early end to the strikes. The…

Chinese anti-corruption authorities are investigating a senior executive at one of the country’s top military equipment suppliers, China Electronics Technology Group Corporation, in a new sign of turmoil in the country’s defence establishment. The probe into He Wenzhong, deputy general manager of CETC, a company subject to US sanctions, follows a shake-up of the armed forces last year, when the…

A unit of defunct lender Credit Suisse will seek to overturn an order to pay US$743 million (S$1 billion) to a billionaire client over the actions of a notorious rogue banker at Singapore’s top court on April 8. The sum was awarded after a lower court earlier ruled that the bank’s trust had failed to safeguard the assets of Bidzina…

NEW YORK – An executive at a Swiss holding company did not get prison time for participating in a scheme to help US taxpayers hide more than US$60 million (S$81 million) in assets in a fraudulent arrangement known as the “Singapore Solution”. Daniel Walchli, 56, pleaded guilty in 2023 to a single count of conspiracy to defraud the United States…

NEW YORK – Citigroup implemented a fresh round of job cuts in its US investment bank last week, according to people familiar with the matter, as the financial giant completed a planned restructuring. Technology, media and telecom were among the coverage areas hit hardest at the Wall Street lender, with several senior bankers as well as those in more junior…

NEW YORK (AP) — Amazon said Wednesday it is pouring an additional $2.75 billion into Anthropic, bringing its total investment in the artificial intelligence startup to $4 billion. Amazon will maintain a minority stake in San Francisco-based Anthropic, a rival of ChatGPT maker OpenAI. “Generative AI is poised to be the most transformational technology of our time, and we believe…

LONDON (AP) — Farmers drove dozens of tractors in a slow-motion convoy towards Britain’s Parliament on Monday to protest post- Brexit rules and trade deals that they say are endangering livelihoods and food security. Supporters of the campaign groups Save British Farming and Fairness for Farmers of Kent drove from southeast England and through southern districts of the capital, bound…

LONDON/ZURICH – A year after the banking crisis that felled Credit Suisse, the authorities are still considering how to fix lenders’ vulnerabilities – including in Switzerland, where the bank’s takeover by rival UBS created a behemoth. The Swiss government-sponsored rescue of Credit Suisse and US bank salvages in March 2023 doused the immediate fires kindled by a run at little-known…

  BlackRock and Singapore sovereign wealth fund GIC are exploring the sale of a network of gas pipeline assets in Britain hat could fetch about US$2 billion (S$2.67 billion), according to people familiar with the matter. The owners are working with investment bank Jefferies Financial Group to find potential buyers for Kellas Midstream, the people said, asking not to be…