The European Central Bank’s Governing Council on Wednesday approved the appointment of Italy’s Piero Cipollone as a member of the ECB’s Executive Board, replacing Fabio Panetta.
State-owned Monte dei Paschi di Siena does not expect the latest amendments to a one-off Italian tax on lenders to cost it more, while a newly introduced option to set aside funds instead of paying the levy appears sensible, its CEO said.
France’s top court will rule on Nov. 15 on an appeal by UBS against its conviction in a tax evasion case which drew a 1.8 billion-euro ($1.90 billion) penalty, the Swiss bank’s lawyer Patrice Spinosi said on Wednesday.
UBS shares fell on Wednesday after a report that the U.S. Department of Justice has stepped up scrutiny into alleged compliance failures that helped Russian clients to evade sanctions.
The U.S. Treasury Department has designated JPMorgan to provide account validation services for federal government agencies, the investment bank said on Wednesday.
Crypto companies are descending on Capitol Hill on Wednesday, but their push to advance industry-friendly laws is likely to be overshadowed by a fight over the federal budget and a Senate crackdown on the use of crypto for money laundering.
Reforming the World Bank’s approach to risk could unlock nearly $190 billion in additional urgently needed lending for developing countries without jeopardizing its AAA credit rating, a study commissioned by the Rockefeller Foundation found.
Health insurer Centene will lay off 3% of its workforce, or about 2,000 employees, a company spokesperson said on Tuesday as the company tries to lower costs.
Wells Fargo is teaming up with private equity firm Centerbridge Partners to launch a fund with a capacity to lend more than $5 billion to North American middle-market companies, the groups said on Tuesday.
