The Federal Reserve’s FedNow system, launched in July 2023, was designed to modernize the U.S. payment infrastructure by enabling instant, 24/7 transactions. However, adoption has been slower than expected, with only 336,000
BlackRock, the world’s largest asset manager, has made a bold move in global infrastructure by acquiring over 40 ports from Hong Kong-based CK Hutchison for $22.8 billion. This deal, which includes critical
The European Union (EU) has announced plans to impose tariffs on $28 billion worth of U.S. goods, marking a significant escalation in transatlantic trade tensions. This decision follows the United States’ move
Former US Treasury Secretary Steven Mnuchin and SoftBank Group Corp.’s Vision Fund are in talks to broker a deal aimed at salvaging Cybereason Inc., a once-promising cybersecurity company that has struggled with
Citigroup has encountered a significant operational issue, as it was reported that the bank erroneously credited $81 trillion to a customer’s account last April, a glaring mistake that went unnoticed for hours.
Royal Bank of Canada (RBC) posted stronger-than-expected earnings for its fiscal first quarter, driven by impressive performances in its capital markets and wealth management divisions, both benefiting from favorable market conditions. The
Three of Canada’s big five banks—Royal Bank of Canada (RBC), TD Bank, and CIBC—reported quarterly profits that surpassed analyst expectations, driven by robust performances in wealth management and capital markets. The strong
Bank of America Corp.’s head of Asia Pacific equity capital markets syndicate, Anastasios Pefanis, is set to relocate to the US to take the reins of its Americas syndicate, according to sources
China is set to begin re-capitalizing several of its largest banks in the coming months, following through on a broad stimulus package announced last year to support its struggling economy, according to
Matthew Greenberger, Citigroup Inc.’s global head of real estate, gaming, and lodging, has left the firm, according to sources familiar with the matter. Greenberger, who had been with Citigroup since 2004, played
