Swiss Fine RBS Unit Coutts Over 1MDB Money-Laundering Breaches
Switzerland’s financial regulator fined Coutts & Co. Ltd. for violating money-laundering rules and illegally profiting from transactions associated with Malaysian sovereign wealth fund 1Malaysia Development Bhd.Coutts, owned by Royal Bank of Scotland Group Plc, allowed a total of $2.4 billion worth of 1MDB-related assets to flow through accounts in Switzerland even though it had good reason to be suspicious of the transactions., the Financial Market Supervisory Authority, or Finma, said. ..>> view originalShell's Falling Debt Burden Shows Worst of Oil Slump May Be Over
Shell’s Falling Debt Burden Shows Worst of Oil Slump May Be Over by February 2, 2017, 4:10 AM EST Royal Dutch Shell Plc appeared to put the worst of the oil slump behind it as rising cash flow allowed Europe’s largest energy company to trim debt for the first time since the downturn began. The most important market news of the day. Get our markets daily newsletter. Investors looked b..>> view originalStock exchange boss investigated for alleged insider trading
Prosecutors in Germany are investigating share purchases made by Deutsche Boerse CEO Carsten Kengeter just weeks before his company began merger talks with the London Stock Exchange. The exchange confirmed Thursday that the public prosecutor's office in Frankfurt was probing the transaction. Kengeter purchased nearly 69,000 shares in Deutsche Boerse (DBOEF) in December 2015, according to the company's annual report. The shares were worth roughly 4.5 million euros ($4.9 million) at the tim..>> view originalSony rules out pictures biz sale, committed to turnaround
TOKYO Sony Corp on Thursday said it does not plan to sell its pictures business after suffering a $1 billion writedown, and instead aims to turn it around by adding sales channels and making more use of movie characters."We believe in long-term upside potential for pictures," Chief Financial Officer Kenichiro Yoshida said at an earnings briefing, reiterating that Sony continues to regard the business as important to the group.The pictures writedown, brought about by a shrinking market for movi..>> view originalFacebook Revenue Jumps Again, Buoyed by Mobile Advertising
Facebook Inc. squeezed nearly 30% more revenue per user in the fourth quarter, pumping its advertising muscle ahead of an anticipated slowdown in growth later this year. Users spent more time watching videos on Facebook and its photo-sharing app Instagram, providing the social media giant with more slots for ads. That built on growth in mobile...>> view originalReports: Abe to Propose Major Job-Creating Plan to Trump
TOKYO — Angling to pre-empt complaints over Japan's perennial trade surplus with the U.S., Prime Minister Shinzo Abe reportedly plans to propose a sweeping economic cooperation package meant to create hundreds of thousands of jobs in the U.S. when he meets with President Donald Trump later this month.Abe and Trump are expected to meet on Feb. 10. Major Japanese newspapers cited a draft of the proposal that calls for cooperation on building high-speed trains in the U.S. northeast, Texas and C..>> view originalBourse Investors Join Avocado Lovers in Potential Border-Tax Hit
Wal-Mart shoppers aren’t the only ones who could suffer under a tax plan that President Donald Trump is warming up to -- U.S. investors who trade on the London Stock Exchange, the Deutsche Boerse and Euronext might also take a hit.Stocks and bonds denominated in foreign currencies might lose as much as 15 percent of their value when their U.S. holders convert them into dollars -- one of the effects of a so-called border-adjusted tax, according to Paul Christopher, an economist at Wells Fargo & ..>> view originalDollar Falls as Fed Path Assessed; Stocks Retreat: Markets Wrap
Dollar Falls as Fed Path Assessed; Stocks Retreat: Markets Wrap Natasha Doff and Adam Haigh February 1, 2017, 5:54 PM EST February 2, 2017, 6:02 AM EST The dollar slumped against all its major peers after the Federal Reserve gave dollar bulls little to be optimistic about after the worst January in 30 years. Global equities slid as investors scrutinized mixed earnings from corporate heavyweights.The U.S. currency dropped toward the lowest close since November after the Fed reiterated ..>> view originalJudge Orders Trump-Owned Golf Resort to Pay Millions
Mr. Trump has not sold any of his assets, which include golf courses, commercial real estate and marketing agreements. Rather he has handed the operations of his company over to his eldest sons, Donald Jr. and Eric, a move he hopes will reduce the appearance of conflict of interest. Wednesday’s ruling — by Judge Kenneth Marra of Federal District Court in West Palm Beach, an appointee of President George W. Bush’s — calls for the club to pay $4.85 million in withheld fees to 65 club members invo..>> view originalDeutsche Bank Falls as Client Jitters Hit Trading in Quarter
Deutsche Bank AG fell the most in four months after earnings missed analysts’ estimates, in part because clients stepped back from doing business with the lender amid concern about its financial strength.The stock slumped as much as 7.1 percent, the most since September, after revenue from debt trading, its biggest source of income, fell short of estimates and equity trading revenue unexpectedly declined. Deutsche Bank said clients reduced balances and trading after news broke in September tha..>> view original
Tuesday, May 23, 2017
Swiss Fine RBS Unit Coutts Over 1MDB Money-Laundering Breaches and other top stories.
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