UBS faces hundreds of millions of dollars in penalties over Credit Suisse’s mishandling of Archegos Capital after Swiss, US and UK regulators completed their investigations into the affair, according to people with knowledge of the probes.Credit Suisse, whose takeover by rival UBS was completed last week, suffered the biggest trading…

House GOP Intel Chair previews Durham hearing this week House Intelligence Chairman Republican Mike Turner tells CNN’s Jake Tapper that lawmakers will consider changes to the FBI after special counsel John Durham found the FBI should not have opened its full Trump-Russia investigation. Read the full article here

Stocks ended the day flat on Wednesday, belying a volatile session that saw big swings as investors digested the Fed’s decision to leave rates on hold while signaling significantly more tightening than market participants expected remains in the pipeline. “It was a bit of a Jekyll and Hyde meeting, as…

PNC Financial Services Group Inc. and U.S. Bancorp raised a combined $7 billion in separate bond offerings Wednesday ahead of stricter capital requirements expected from U.S. regulators. Now eyeing a potential 20% boost to capital requirements, banks are coming back to the investment-grade bond market for the first time since…

What does it take to be considered wealthy in the U.S.? A cool million isn’t enough these days. You’ll need twice that and then some. Americans say it takes $2.2 million to qualify as wealthy these days, according to Charles Schwab’s SCHW, -2.00% 2023 Modern Wealth survey. When Schwab started…

Financial markets are convinced that the Federal Reserve will “skip” an interest rate hike and focus its attention on raising rates again in July. But not all economists agree. Some are anticipating a 25-basis-point hike in the Fed’s policy interest rate next week, which would bring the benchmark rate up…

© Reuters. FILE PHOTO: Live Nation Entertainment President and Chief Financial Officer Joe Berchtold listens as SeatGeek Chief Executive Officer Jack Groetzinger speaks during a Senate Judiciary Committee hearing titled “That’s the Ticket: Promoting Competition and By Jarrett Renshaw (Reuters) – Ticketmaster and other companies have agreed to offer consumers…

By Andrea Shalal WASHINGTON (Reuters) – U.S. Trade Representative Katherine Tai on Thursday will call for continued work to redesign global supply chains to emphasize resilience and a more diverse set of economies producing steel, aluminum and other goods. In a speech at the National Press Club, Tai will explain…

Investing.com – The U.S. dollar edged lower in early European trade Wednesday, struggling for traction ahead of the conclusion of the latest Federal Reserve policy meeting. At 02:55 ET (06:55 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% lower to 102.898, near…

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Bank of Japan, the most dovish major central bank in the world, announces its latest policy decision on Friday, with markets highly sensitive to signs of when and to…