News

Coinbase secures crypto license in France, pushing deeper in Europe amid rift with the SEC

France's AMF watchdog gave Coinbase a virtual asset service provider approval, which is effectively a green light to operate crypto services in the country.

UK and Switzerland to sign post-Brexit financial services deal

The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe's largest banking centers closer together.

Citigroup to close global distressed-debt business as part of CEO Jane Fraser's overhaul

Citigroup is exiting businesses with poor returns to bolster the bank's odds of hitting Fraser's performance targets.

Annuity sales are on track for a record year. Here’s what to know before buying

Higher interest rates and anxiety over the stock market and economy pushed more consumers to buy annuities, experts said.

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UK inflation rate drops more than expected to 3.9% in November

U.K. inflation fell far more than expected in November to 3.9%, its lowest annual reading since September 2021.

Tesla cut EV prices in China more than BYD did for its flagship Han sedan this year, study finds

Tesla cut prices for its electric cars in China by more than BYD did for its flagship Han sedan, according to analysis from U.S.-based firm JL Warren Capital.

Alibaba CEO Eddie Wu to lead e-commerce business in latest reshuffle

Alibaba Group CEO Eddie Wu is taking over the top role at the company's Taobao and Tmall e-commerce business, replacing Trudy Dai.

Inflation gives millions new access to investments for the wealthy, says SEC

The number of "accredited" investors who can buy private securities rose by 8 million from 2019 to 2022, the SEC said.

GPT and other AI models can't analyze an SEC filing, researchers find

The findings from Patronus AI highlight some of the challenges of using AI models within big companies in regulated industries like finance.

Swiss regulator calls for more powers after Credit Suisse collapse

Switzerland's financial regulator on Tuesday called for greater legal powers and vowed to adapts its approach in the wake of the Credit Suisse collapse.

Generative AI has landed on Wall Street. Here's how it can help propel 'massive' revenue growth

Wealth management firms could see billions of dollars in added value thanks to AI, McKinsey & Company found.
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