UBS Group AG bankers assessing Credit Suisse Group AG’s business have flagged concerns about some portfolios of loans in high-growth Asian countries as the firm decides which assets to tag for a wind-down unit.
Two parents convicted in the sprawling “Varsity Blues” college admissions scandal had their fraud verdicts overturned, in a surprising blow to prosecutors who racked up dozens of guilty pleas and jail terms in a nationwide FBI sting.
Joe Biden told donors his decision to seek reelection was not automatic, saying he thought four additional years serving as president was a long time.
The risk of a short-selling ban by the US government is giving veteran bear Marc Cohodes pause for thought before betting against the country’s regional banks, even though he says the outlook for the industry remains gloomy.
An engineer who worked for billionaire Robert Pera’s Ubiquiti Inc. got six years in prison after a judge rejected his claim that his plan to steal data from the company and demand $1.9 million for its return began as an “unsanctioned security drill” that made the computer network safer.
Representative George Santos was released on a $500,000 bond after being arrested on fraud and money-laundering charges, as the embattled Republican from New York comes under increasing pressure to resign — and snubbed those demands in defiant remarks outside court after his arraignment.
Investors wiped as much as $2.3 billion off the market value of Carl Icahn’s investment firm Wednesday after it disclosed a federal inquiry into its practices, adding to the pressure that a short-seller attack has been putting on the stock since last week.
At least 20 companies including units of Blackstone Inc., PNC Financial Services Group Inc. and Apollo Global Management Inc. were involved in bids for parts of Silicon Valley Bank after it collapsed.
Around £1.2 billion ($1.5 billion) was stolen through authorized and unauthorized financial fraud in the UK in 2022, underlining the scale of a problem that continues to beset the banking industry.
Walt Disney Co. Chief Executive Officer Bob Iger suggested he would like to keep the Hulu streaming service as part of a broader online TV offering aimed at kids and adults and has held talks with partner Comcast Corp. about buying the rest of it.
