CITIGROUP reached an agreement with all 10 Revlon lenders it mistakenly paid about US$500 million on a loan, ending litigation of more than two years, a court document showed on Friday (Dec 16).
THE US Federal Reserve and the Federal Deposit Insurance Corp (FDIC) identified problems in the so-called living wills of Credit Suisse Group and BNP Paribas detailing how the banks’ US operations would be unwound in the event of bankruptcy.
It’s easier to travel to Hong Kong than before, but policy adjustments may not help the city’s devastated tourism sector recover so soon, says Jacky Leung.
