The U.S. accounting watchdog on Wednesday said it has hit KPMG Netherlands with a $25 million civil penalty, a record for the regulator, in response to “egregious” and widespread exam cheating at the foreign affiliate of the major audit firm.
Switzerland put forward on Wednesday proposals for UBS and three other systemically relevant banks aimed at protecting the country from a repeat of last year’s Credit Suisse collapse.
Switzerland’s government said on Wednesday that UBS and three other systemically relevant banks must face tougher capital requirements to shield the country’s wider economy, a year after the rescue of Credit Suisse.
As U.S. banking giants prepare to report slightly lower first-quarter profits, investors will focus on how much more income executives expect from interest payments this year.
The Bank of Canada (BoC) is expected to hold its key overnight rate steady on Wednesday, with economists and analysts hoping to get some direction on the timing of its first rate cut.
Inflows into India’s equity mutual funds moderated in March as small-caps saw outflows for the first time since September 2021, while investors revived interest in large-cap funds.
Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week, two people familiar with the matter said.
British insurer Direct Line has hired a new chief financial officer, it said on Wednesday, weeks after fending off takeover interest from Belgian rival Aegas .
Argentina’s Banco Galicia, buying HSBC’s local assets in a near $500 million deal, is betting that new libertarian President Javier Milei will bring down soaring inflation and ease rates to boost lending in the South American nation.
