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Hi. Aaron Weinman here. On Thursday, Queen Elizabeth II, the UK's longest-serving monarch, died at Balmoral Castle aged 96, after reigning for 70 years. You can read more about her life and legacy here. In finance news, Citi has scored a much-needed legal victory over its embarrassing "fat-finger" mistake. The bank persuaded a federal appeals court to […]
The giant infrastructure lender has had to be propped up by India’s government
CAN a big financial firm’s credit rating fall from AAA one month—good enough for pension funds and life insurers—to junk the next without causing a crash? India’s government decided it did not want to find out. Last week it granted Infrastructure Leasing and Financial Services (IL&FS), one of India’s biggest shadow banks, a parachute. Plenty […]
ADE AYEYEMI’S office in Lomé, the capital of Togo, is a good place to think about crossing borders. Ghana is ten minutes’ drive away. From his window the boss of Ecobank can watch trucks rumble along the seafront, some bound for Burkina Faso, a day’s journey, or Mali, perhaps another day on. At night, cargo […]
BII This is a preview of a research report from BI Intelligence, Business Insider’s premium research service. To learn more about BI Intelligence, click here. Traditional consumer lenders, like banks and credit unions, have historically served segments of the population they can conduct robust risk assessments on. But the data they collect from these groups is […]
THE World Bank gets a lot of flak. Developing countries clamour for a bigger role in its management. President Donald Trump’s administration lambasts it for lending too much to China. Employees are in open rebellion against their boss, Jim Yong Kim. Now the embattled institution faces criticism from a traditionally friendlier quarter: environmentalists. They accuse […]
THE Communist Party dominates China’s economy and uses state-run companies, which it controls with an iron fist, to enforce its diktats. Or so the theory goes. Reality is messier: the party often struggles to monitor state-owned enterprises (SOEs), let alone to get them to toe its line. As it convenes its five-yearly congress, one of […]
BANKS sicken slowly but die fast. For years Banca Popolare di Vicenza and Veneto Banca, in the prosperous Veneto, in north-east Italy, had been plagued by mismanagement. Even criminal investigations are under way. For months the Italian government had been wrangling with European authorities over the terms of a bail-out. For weeks it had seemed […]
Thomson Reuters President Donald Trump had personal liabilities of at least $ 315.6 million to German, US and other lenders as of mid-2017, according to a federal financial disclosure form released late on Friday by the US Office of Government Ethics. Trump reported income of at least $ 594 million for 2016 and early 2017 […]
