An Oklahoma pensioner is challenging a state law that targets financial firms, including BlackRock Inc. and JPMorgan Chase & Co., for their climate change policies. Don Keenan, a former state employee, is seeking a temporary restraining order against Oklahoma treasurer Todd Russ and the state over the 2022 law enacted...
Binance Holdings Ltd. and its Chief Executive Officer Changpeng Zhao pleaded guilty to anti-money laundering and US sanctions violations under a sweeping settlement with the US that allows the cryptocurrency exchange to continue operating. Binance will pay $4.3 billion in one of the largest corporate agreements in US history. Zhao...
Sam Altman will return to lead OpenAI less than five days after he was pushed out of one of the world’s most valuable startups, setting off a shock back-and-forth drama that transfixed Silicon Valley and the global AI industry. Altman is returning as chief executive officer and the initial board...
Stocks were mixed while the dollar rebounded from its weakest level in almost three months as traders awaited a slew of US economic data before markets pause for holidays in America and Japan. Futures on the S&P 500 and Nasdaq 100 were flat after Wall Street’s rally stalled on Tuesday....
UBS Global Wealth Management expects Japan’s cheaply valued stocks to extend their outperformance into 2024 amid a revival in domestic economic growth and gradual monetary policy tightening. Value stocks will rally as the economy may post 3% to 4% nominal growth next year and the Tokyo Stock Exchange pushes for...
Morgan Stanley co-president Andy Saperstein has been diagnosed with cancer and plans to keep working as he begins to receive treatment. “I’m young and in otherwise good health,” Saperstein, 56, said in a memo to employees Tuesday. “That gives me great confidence as I begin the process of starting treatment...
For investors stashing record sums in cash, US bond managers overseeing a combined $2.5 trillion have a bit of advice: It’s time to put that money to work. That’s the message from Capital Group, DoubleLine Capital, Pimco and TCW Group. And it comes as many fixed-income managers are still licking their...
Citigroup Inc. said its head of wealth services is leaving as the lender conducts a global reorganization. Eduardo Martinez Campos started his career in Citigroup’s markets business roughly three decades ago, according to a memo to staff from newly appointed wealth chief Andy Sieg. The division Learn more about reprints and...
The Securities and Exchange Commission accused crypto exchange Kraken of securities-law violations, less than a year after unveiling a $30 million settlement with the firm over other alleged conduct. In its latest salvo against the crypto sector, the regulator claimed Monday that Kraken commingled customer assets with its own and at times...
Nearing the end of a tumultuous year for assets in developing countries, emerging-market currencies are poised for the best performance since 2017 as a late rally pushes investors to lock in higher yields while they still can. The benchmark MSCI EM Currency Index advanced 0.3% on Tuesday, lifting its gains this year...