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CREDIT Suisse Group is cutting at least one-third of its investment-banking workforce and about 40 per cent of research staff in China just two months after agreeing to spend US$160 million to take full control of its securities business in the world’s second-largest economy.

FTX was run as a “personal fiefdom” of former CEO Sam Bankman-Fried, attorneys for the collapsed crypto exchange said in its first bankruptcy hearing as they detailed ongoing challenges such as hacks and substantial missing assets.

GOLDMAN Sachs Group will pay US$4 million to settle US regulators’ claims that its asset-management unit didn’t properly weigh environmental, social and governance (ESG) factors in some of its investment products.

THE Bank of Korea (BOK) is poised to return to its usual pace of policy tightening on Thursday (Nov 24) as it aims to rein in inflation without exacerbating credit risks that threaten to weigh on economic growth.

THE global banking sector will likely remain resilient in the face of next year’s macroeconomic risks, thanks to strong capitalisation and asset quality across most banks, analysts said. Singapore banks, in particular, are well positioned as they have strong fundamentals and net interest margins (NIMs).

THE US dollar retreated on Tuesday (Nov 22) after rallying the previous day when investors rushed to the safe-haven currency on worries about China’s Covid flare-ups, while fears of fresh contagion from the collapse of crypto exchange FTX pressured bitcoin.

CLAUDIO de Sanctis is targeting markets far from home as Deutsche Bank seeks to become Europe’s go-to wealth manager.

TWO men have been arrested in Estonia on suspicion of defrauding US$575 million from hundreds of thousands of people in a cryptocurrency scheme, Estonian police said on Monday. Sergei Potapenko and Ivan Turogin were arrested on Sunday in a joint operation by Estonian police and the FBI and Washington has...

TWO men have been arrested in Estonia on suspicion of defrauding US$575 million from hundreds of thousands of people in a cryptocurrency scheme, Estonian police said on Monday. Sergei Potapenko and Ivan Turogin were arrested on Sunday in a joint operation by Estonian police and the FBI and Washington has...

COINBASE Global shares hit an all-time low amid rising investor skittishness over how far the fallout from rival exchange FTX’s insolvency might spread.