Mobile-banking startup Chime closed a round of fundraising that sent its valuation surging to $14.5 billion, making it the most valuable consumer-facing fintech startup in the U.S., CNBC reported Friday.
Blockchain Capital, a venture capital firm focusing on crypto technologies, has joined forces with the Facebook-backed Libra Association as the group continues working to develop and manage a new digital currency.
Federal Reserve releases details for round two of bank stress tests, considers extending dividend cap
The U.S. Federal Reserve on Thursday laid out details for its second round of stress-testing for 34 of the country’s largest banks, as it considers extending dividend-payment caps to ensure their solvency.
H2O Asset Management is struggling to unload bond holdings tied to a controversial financier, the London-based firm told investors on Wednesday, saying it has written them down by about 60% from their face value.
Carolyn Wilkins will not seek a second term as Bank of Canada senior deputy governor, setting an end date on her 20-year career at the bank after being passed over for the governor position in the spring.
Investors will soon be able to trade contracts representing California’s water supply after financial exchanges CME Group and Nasdaq disclosed that they will release “water futures” to allow price hedging on the increasingly scarce resource.
The U.S. financial crimes regulator said it wants to design a new template for anti-money laundering programs that will be more flexible and efficient for banks while providing more useful data to government authorities.
Dedicated capital held by the global reinsurance sector will drop 2.4% to $471 billion by 2020’s end, as losses from catastrophes and the COVID-19 pandemic stack up, according to AM Best and Guy Carpenter.
Swiss bank UBS will offer five new climate-oriented strategies aiming to reduce the carbon footprint of their funds’ investments as its clients grow more climate-conscious, the lender said Wednesday.
Vanguard Group revealed on Tuesday that it voted against compensation of top executives at Uber and Alphabet this year, arguing their pay did not adequately reflect the tech companies’ performances.
Tougher Hong Kong regulations for domestic insurance groups that operate internationally would strengthen their risk and capital management, Fitch Ratings said Monday.
Sberbank signed an agreement with commodities platform Komgo through its Switzerland unit, the bank said Tuesday, becoming Russia’s first bank to join a well-established blockchain-based service.
Comerica Bank is not expecting to increase loan loss reserves in the coming quarter despite the wider slowdown in the U.S. economy, a move prompted by surprising signs of resilience in many of its highest-risk borrowers.
A global watchdog for money laundering urged countries to better police growing cryptocurrency markets for signs of criminal activity, such as irregular transactions and unusual profiles, warning that the risk is only increasing.
U.S. investment managers are receiving less regulatory support for sustainable investing practices than European Union and U.K. counterparts, creating a risk they may fall behind on that trend, Fitch said.
The Canadian province of Alberta has racked up CAD 1.92 billion ($1.46 billion) in insured losses from natural catastrophes in 2020, including a record-breaking hailstorm and flooding, an industry group said.
Finance ministers of Germany, France, Italy, Spain and the Netherlands called for Europe to develop strong regulations for stablecoins and other asset-backed cryptocurrencies, citing consumer and market concerns.
The National Aeronautics and Space Administration has partnered with Willis Towers Watson to better predict hailstorms and provide insurers more accurate estimates of catastrophe losses, the U.S. agency said on Thursday.
U.S. payment company Square invited crypto-asset developers and companies to join its new Crypto Open Patent Alliance, intended to promote innovation by preventing members from hoarding patents or suing others in bad faith.
Reinsurers’ total capital fell 3% in the first half of 2020 as the COVID-19 pandemic created significant challenges for the industry, according to a unit of broker Willis Towers Watson.