The Treasury Department accused Banque Misr’s branches in the United Arab Emirates of helping Iran. The Emirati central bank promised an examination.
Category: Banking and Financial Institutions
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Warsh, After Talking Tough on Inflation, Faces a ‘No-Win Situation’ on Rates
The New York Times – Business:Kevin M. Warsh, the chairman of the Federal Reserve, must soon decide whether to raise interest rates if inflation does not ease, even if it draws President Trump’s ire.
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Fed Chairman Seeks to Calm Concerns About Elevated Inflation
The New York Times – Business:In a high-profile speech, Kevin M. Warsh said that the Federal Reserve was chiefly responsible for taming inflation. If price increases did not return to the central bank’s target quickly, “we have work to do,” he said.
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Wall Street Loved Scott Bessent and Kevin Warsh. Not Anymore.
The New York Times – On the Runway:We are approaching a credibility crisis with Scott Bessent and Kevin Warsh leading our economy.
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Mamdani Persuades C.E.O.s to Join His Business Advisory Council
The New York Times – Business:Mayor Zohran Mamdani, a democratic socialist who has struggled to win over Wall Street, intends to use the council to help him invigorate New York City’s economy.
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‘Honeymoon’s Over’: Warsh Under Pressure as Fed Weighs Raising Rates
The New York Times – Business:Kevin M. Warsh is scheduled to deliver his first address at the Federal Reserve’s annual conference in Jackson, Wyo., with U.S. government bond markets on edge and inflation risks resurfacing.
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Forbes Suspends Shook Research Rankings as It Investigates $6 Million Payment
The New York Times – Business:The magazine, which is reviewing a payment from the founder of Shook Research to its former top editor, also canceled a summit in Las Vegas scheduled for October.
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S.E.C. Investigating Near-Implosion of A.I. Hedge Fund
The New York Times – Business:Regulators sent subpoenas to major Wall Street banks seeking information about the trading of Situational Awareness, three people briefed on the outreach said.
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Two Binance Employees Detained in the U.A.E. Amid Police Inquiries
The New York Times – Business:The detentions of the workers, who have been released, are a sign of legal pressure that the world’s largest crypto exchange faces in the Emirates, which is home to its main regulator.
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Several Big Brokerages Leave Customer Accounts Open to Theft, Senators Say
The New York Times – Business:Senators Ron Wyden and Elizabeth Warren, ranking Democrats on the Finance and Banking Committees, have urged regulators to require brokerages to provide stronger customer protections.
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Treasury Turns to Interventionist Tactics to Lower Interest Rates
The New York Times – Business:Treasury Secretary Scott Bessent is reinventing the government’s role in the world’s most important bond market.
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Trump, Who Has Amassed Enormous Wealth in Crypto, Hosts Industry Leaders
The New York Times – Business:President Trump called on Congress to pass a major cryptocurrency bill that would tilt regulation in the industry’s favor.