Justice Department probes banks for alleged collusion in Archegos liquidation
The Justice Department is reportedly investigating several major banks for allegedly conspiring during the liquidation of Archegos Capital Management, the ill-fated $36 billion investment firm led by Bill Hwang, who was convicted of fraud. Federal investigators in San Francisco are looking into whether Credit Suisse, Nomura Holdings Inc. and UBS Group Inc. conspired to control […]
Embattled NYC schools chief David Banks recites Nelson Mandela’s favorite poem
The city's embattled superintendent of education delivered a thin speech in his annual address on Tuesday that offered no metrics on student achievement, before bizarrely having the audience recite a poem that Nelson Mandela “recited every day during his incarceration.” The famous poem “Invictus,” written by English poet William Ernest Henley in 1875, includes lines […]
Carl Banks reveals Lawrence Taylor’s contention Giants legends would have played better against Vikings
New York Giants fans are reeling from the team's 28-6 loss to the Minnesota Vikings at MetLife Stadium in Week 1, but they're not the only ones caught up in a whirlwind of emotions. Former players, including one of the franchise's legends, are also unhappy. The Giants wore Century Red uniforms in celebration of the […]
Federal Reserve Waters Down Plan To Hike Capital Reserves For Big Banks Amid Wall Street Lobbying Efforts
In a speech on Tuesday, Michael Barr, the Federal Reserve's vice chairman for oversight, announced that the Fed was watering down proposed rules that would increase the amount of cash large banks must hold on hand, following intense lobbying from Wall Street. Federal regulators are revising the final version of Basel III, which would boost […]
European shares rebound from dour week with central banks in focus – Yahoo Finance
Pranav Kashyap and Lisa Pauline Matakkal (Reuters) – European stocks rose on Monday, recovering from a sharp sell-off last week as investors focused on expectations of an interest rate cut by the European Central Bank on Thursday. The pan-European STOXX 600 index ended up 0.8% after falling 3.5% the previous week, its worst week since […]
City regulator warns banks over denying sex workers business accounts | Financial Conduct Authority
The City regulator has issued a warning to British banks that refuse to open accounts to sex workers after hearing that restricting access to business banking services could cause “significant harm” to individuals. The Financial Conduct Authority (FCA) said that while banks could in theory offer accounts to the adult entertainment industry, in practice they […]
Tanya Smith says she outsmarted FBI, stole $40m from banks
It started with an obsession to meet Michael Jackson and ended with her defrauding US banks out of $40 million and being branded a “one-woman crime wave”. Her heists were unintentionally encouraged by FBI agents who didn't believe she could pull off a complicated robbery in 1981. She told the Post, “The agents who were […]
Tragedy keeps last words by Deonte Banks’ Vikings pal from coming true
Kylee Jackson's parting words sounded like a promise as she left a Fourth of July barbecue party hosted by Deonte Banks' family. “I'll see you in Week 1,” Jackson told Banks, looking forward to the Giants-Vikings season opener where the two young cornerbacks can put themselves in good work for the opposing team. About 30 […]
MercadoLibre Slams Argentine Banks for ‘Cartel’ Tactics – Yahoo Finance
(Bloomberg) — MercadoLibre Inc. on Monday accused Argentine banks of “illegal concentration” in one payments platform in an anticompetitive tactic against its fintech unit. Most read articles on Bloomberg The company, Latin America’s largest by market capitalization, filed the lawsuit with Argentina’s National Competitive Defense Commission after the bank filed its own lawsuit in May […]
North Carolina House collapses, swept to sea as Ernesto nears Outer Banks
Hurricane Ernesto battered the North Carolina coast on Friday, sweeping beach houses out to sea. The home collapsed on the beach at Cape Hatteras National Seashore in Rodanthe, the northernmost village on the Outer Banks, which has suffered from severe coastal erosion for years. the National Park Service said. Shocking footage shows the water being […]