German authorities searched the Frankfurt office of bank BNY Mellon on Tuesday in connection with an ongoing investigation into the multi-billion euro tax fraud scheme known as "cum-ex", the bank said.
Credit Suisse has laid off about one-third of its China-based investment banking team and nearly half of its research department, sources with knowledge of the matter told Reuters, as part of a global restructuring and as its China business slows.
The founder of Infinity Q Capital Management, a New York firm accused of inflating assets by over $1 billion to collect more fees, pleaded guilty on Monday to securities fraud.
Texas-based fintech firm GloriFi is shutting down and laid off most of its employees, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Russian companies reduced their foreign currency loans by $7.4 billion last month and have also cut forex holdings on the accounts by $11.1 billion, the central bank said on Monday.
Veteran Morgan Stanley executive Franck Petitgas will step down from his role as the bank's international head and stay on as a senior adviser in London, a memo seen by Reuters on Monday showed.
Prosus NV, a major investor in consumer internet companies, expects earnings for the six months to Sept. 20 to have dropped by at least 79.9% from the same period last year, it said in a trading statement on Monday.
Asset manager BlackRock said on Monday it had increased its strategic overweight on investment grade credit due to attractive valuations and the income potential coming from corporate bonds' higher yields.
Hestia Capital Partners LP, which scored big gains on its GameStop bet, is pushing shipping and mailing company Pitney Bowes Inc to re-evaluate its capital allocation and e-commerce strategy, sources familiar with the matter said.
Shares in British lender Virgin Money leapt 16% on Monday after it reported a jump in full-year profit and investor payouts, as Bank of England rate rises lifted its finances despite a looming economic downturn.
