UBS rules out external successor to chief Sergio Ermotti – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. UBS is not looking to appoint an outsider to succeed Chief Executive Officer Sergio Ermotti, and will choose from among three internal candidates when he steps down in about three years. The Swiss bank has decided […]
Supreme Court Slaps Down Challenge That Could Have Gutted Financial Regulatory Agency
The Supreme Court rejected a challenge on Thursday that could have paved the way for a consumer protection regulator to be dismantled. The court ruled by 7-2 vote that the unconventional way the Consumer Financial Protection Bureau (CFPB) receives funding is constitutional, dealing a blow to the business interests who brought the challenge. Two trade […]
Lawmakers urge financial regulators to take action on banking discrimination
A group of Democrats in the House and Senate is calling on the heads of the Treasury Department, the Federal Reserve and other financial regulators to ensure fair banking access for Muslim Americans and immigrants. Sen. Elizabeth Warren (D-Mass.) and Rep. Ilhan Omar (D-Minn.) wrote Wednesday to Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome […]
Red-state financial officers urge Biden to back Israel, ‘alarmed’ of wavering support in ‘hour of need’
First appearance on Fox: More than 20 U.S. state-level financial officials are calling on the Biden administration to continue aid to Israel amid the Israeli Defense Forces’ recent invasion of Rafah. The 23 members of the State Treasurer’s Foundation (SFOF) said, “As the State Treasurer, we are grateful for your early commitment to provide unyielding […]
Georgia lawmakers investigate Fani Willis’ alleged financial misconduct
Fulton County Commission Chairman Robb Pitts and the county’s chief financial officer testify before a Georgia Senate committee … source
Middle schoolers get taste of stock market, investing through financial literacy class
FOX Business’ Jerry Willis speaks with IS 281 teacher Raymond Tran about his efforts to teach financial literacy to middle school students. Middle school teacher in Brooklyn, New York, We help students learn about the stock market and investing through financial literacy classes. Raymond Tran, who teaches in IS 281, told FOX Business’ Jerry Willis […]
BBVA takes Sabadell bid approach directly to shareholders – Financial Times
Unlock Editor’s Digest for free FT editor Roula Khalaf has chosen her favorite stories in this weekly newsletter. Spanish bank BBVA has launched an 11.5 billion euro hostile takeover bid for Banco Sabadell after the board of its smaller rival rejected the offer. BBVA made an all-share offering directly to Sabadell shareholders on Thursday, less […]
How the US financial system helps shelter profits from environmental organized crime
Environmental organized crime is a massive global enterprise that brings in hundreds of billions of dollars each year, and the U.S. financial system appears to be helping to hide its profits. Interpol estimates that environmental crimes such as poaching and illegal logging generate up to $281 billion annually, making it the third most lucrative illegal […]
Government remains essential for the nation’s financial stability and prosperity
National leaders face a polarized Congress. He passed major legislation that invested in his country’s infrastructure and economy, but he has received little credit for his efforts. Instead, he has become a target for all-too-zealous political opponents, who are not shy about making all sorts of conspiratorial accusations about him. Of course, it may sound […]
Inflation locked atop list of financial problems: Gallup
A new survey finds that inflation remains top of mind when Americans think about economic hardship. In a Gallup poll, Released on ThursdayAccording to the report, 41 percent of Americans cite inflation and the high cost of living as the “most important financial issue facing” their families, ranking it higher than issues like taxes and […]