(Reuters) – Citigroup’s expansion plan in China has hit a roadblock with U.S. regulators after the Federal Reserve imposed a penalty on the bank for its data management and risk controls, Bloomberg News reported on Sunday. The bank is facing delays in setting up a standalone securities firm because it hasn’t yet received a clearance letter from the U.S. Fed verifying its regulatory standing, which is required by Chinese authorities, Bloomberg said. Citi was instructed to resolve its data management problems at home, after being hit with a combined $136 million in fines in July, the report said. The fines…
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Three years ago, the London-based International Council on Mining and Metals announced a bold commitment: the world’s 28 largest mining companies pledged to achieve net-zero carbon emissions by 2050. This… Source link
As the election approaches, managed care organizations face significant regulatory risks associated with US healthcare spending that could damper industry profitability.Fortunately for investors in managed care organizations, we think the near-term regulatory risks of this election cycle look manageable, despite current pockets of weakness in Medicare Advantage, Medicaid, and pharmacy benefit management.Some of these near-term regulatory risks are even creating opportunities for long-term MCO investors. We keep our moat ratings at narrow for the six publicly traded MCOs that we cover, which insure over half of the US. That includes Humana HUM, Centene CNC, CVS CVS, Elevance ELV, UnitedHealth UNH,…
A Chinese flag in Pudong’s Lujiazui Financial District in Shanghai, China, on Sept. 18, 2023.Raul Ariano | Bloomberg | Getty ImagesAsia-Pacific markets opened lower Monday as investors assessed monetary policy decisions from Japan and China on Friday after U.S. Federal Reserve’s sharp rate cut sent markets higher last week.Data last Friday showed China’s youth unemployment rate rose for a second straight month to its highest level this year, according to the National Bureau of Statistics, as the labor market cools down amid a weakening economy.Despite growing calls for lower interest rates, the People’s Bank of China unexpectedly left its key…
It’s hard not to get caught up in the hype with artificial intelligence (AI) when analysts are projecting so much growth. Grand View Research projects that by 2030, the AI market will be worth $1.8 trillion, up from approximately $279 billion this year. With growth like that, investors who don’t own AI stocks could feel like they’re missing out.But buying shares of chipmaker Nvidia or other AI stocks that have already generated massive returns may not be all that enticing given their lofty valuations. Buying at these high levels could limit the gains you make from a stock both in…
SINGAPORE (Reuters) – was the notable mover as it reached for one-month highs on Monday, sustaining its rally after the Federal Reserve’s super-sized rate cut last week, while the yen and most other major currencies stagnated with Japanese markets on holiday. The dollar strengthened against the yen last week after policy meetings in both the United States and Japan, hitting its highest level in two weeks at 144.50 yen. It was around 144.08 early on Monday. The Bank of Japan (BOJ) left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That…
By Daniel Trotta (Reuters) – A student at Gettysburg College in Pennsylvania who scratched a racial slur onto the body of a fellow member of the school’s swim team is no longer enrolled there, the college newspaper reported on Sunday, citing an official statement. The perpetrator and the victim had previously been suspended from the swim team pending an investigation. It was unclear from the college statement whether the perpetrator was expelled or left the school voluntarily. “The investigation is nearing its conclusion, and we can report now that the individual who scratched a slur onto another person is no…
The U.S. Federal Reserve’s bumper 50-basis-point interest rate cut last Wednesday caught several market watchers by surprise , one chief market strategist said — sharing where and how he’s investing in such an environment. The U.S. is “five weeks in front of what’s a very chaotic presidential election … and the Fed is never really supposed to make a move up or down in rates this close. The move they made is a big cut,” SlateStone Wealth’s Kenny Polcari told CNBC’s ” Street Signs Asia ” on Sept. 19. Calling it a “crisis level cut,” he added that “people [are]…
JACKSON, Tenn.—One event aims to educate land owners on one way to be compensated. Tennessee Healthy Hardwoods Forestry Field Day was today at the West Tennessee Ag-Research and Education center. “); $spagination = flexSlider.find(“.spagination”); SPagination.Init($spagination.get( 0 ), { size: slide_obj.count, // pages size page: 1, // selected page step: 3, // pages before and after current cb: function(p){ flexSlider.flexAnimate(p-1, true); } }); } } } function gtx_gallery_slide_before(slide_obj){ var slide=slide_obj.animatingTo; $active_slide=$all_slides.eq(slide) ; slideshow_ad_loaded = false; var current_html = $active_slide.children(“.gtx-ad-container”).html(); if (current_html) {$active_slide.children(“.gtx-ad-container”).html(current_html.trim())} gtx_track_slide( slide_obj ); changeURL(parseInt($active_slide.attr(“data-attachment_id”))); //THUMBS SYNC – PAGINATED THUMBNAIL NAVIGATION if($thumbs!==”” && navigation == “paginated_thumbs”){ var right_item=$slider.find(“.slides li[data-i=”+(slide +1…
Volatility was the name of the game as markets entered the second half of the year, with stocks going through wild swings since July. The U.S. Federal Reserve made its first cut in four years — and more are expected to come. Some are also calling for investors to move out of cash with rates expected to drop. If you had as much as a spare $1 million to invest right now, what should you buy? CNBC Pro asked veteran investors how they would allocate their portfolios with that money. They shared tips for investors with three levels of risk…