Speaking in the Rose Garden, President Trump confirmed that he will declare a national emergency as a means to circumvent Congress and build additional border barriers. He is seeking to secure about $6.5 billion more in funding than Congress has approved. Trump also plans ...Read More

FRANKFURT (Reuters) – German financial watchdog Bafin has extended the mandate of its monitor at Deutsche Bank over the bank’s role in a money laundering scandal involving Danske Bank. Deutsche Bank acted as a correspondent bank for Danske Bank in Estonia, meaning it helped ...Read More

LONDON (Reuters) – HSBC has reduced the cost of settling foreign exchange trades by a quarter through its blockchain-based system, an executive overseeing the project told Reuters, offering a glimpse of the savings the technology could offer banks. The bank processes between 3,500 and ...Read More

FRANKFURT (Reuters) – Deutsche Bank said it has done enough to get its investment bank back on track as Chief Executive Christian Sewing came under renewed pressure from top investors. “We completed our adjustments ahead of schedule and now have a good foundation for ...Read More

James Simons, Ray Dalio, Ken Griffin lead Bloomberg’s ranking Chase Coleman, Izzy Englander each made more than $340 Million Even for this Gilded Age of 0.0001 percenters, Kenneth Griffin drips money. The hedge-fund mogul recently closed on a New York penthouse for an eye-watering $240 million. ...Read More

LONDON (Reuters) – Hong Kong telecoms company HKT apologized after a Valentine’s day deal it sent to HSBC staff offering discounted laptops “for him” but vacuum cleaners and kitchen appliances “for her” angered employees over its sexist implications. The multi-page advertisement, described as an ...Read More

The City isn’t going to lose its status overnight, but can the loss of assets pre-Brexit be reversed? Only now, as we approach the third anniversary of the UK’s referendum on membership in the European Union, are the implications of leaving the bloc finally ...Read More