Credit Suisse Group AG has cut bonuses for its staff by hundreds of millions of dollars after it lost $4.7 billion from the collapse of hedge fund Archegos Capital, the Financial Times reported on Monday. The Swiss bank’s pre-tax income for the first quarter ...Read More

China slapped a record 18 billion yuan ($2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. The fine, about 4% of Alibaba’s 2019 domestic revenues, comes ...Read More

A top regulator with the Securities and Exchange Commission warned about the jump in fundraising by blank-check companies known as SPACs as there are “some significant and yet undiscovered issues,” according to a report by The Wall Street Journal. The issues with SPACs are ...Read More

Goldman Sachs CEO David Solomon has said that he thinks the Bitcoin and digital currency world will soon experience a “big evolution,” particularly regarding regulations in the United States. The head of one of the world’s biggest banks made the comments today during an interview with ...Read More

On Wednesday, short seller research site PlainSite posted a letter from the Securities and Exchange Commission on Twitter revealing that the agency is investigating SoftBank, the Japanese telecommunications company and investing giant notorious for financing various unprofitable “technology” companies like WeWork, Uber, Compass, and Oyo. Aaron Greenspan, founder of ...Read More

The Biden administration is working to reassert the government’s top consumer watchdog, which was sidelined by President Donald Trump, just as the U.S. economy is showing signs of revving up. The Consumer Financial Protection Bureau, or CFPB, hollowed out and politicized under Trump after his ...Read More

Gary Gensler, President Joe Biden’s pick to head the Securities and Exchange Commission (SEC), told Congress Tuesday that the “greater challenge” in bitcoin and cryptocurrencies is protecting investors. “Some markets have been really rife with fraud and scams,” Gensler told the Senate Banking Committee ...Read More