Russia’s Central Bank says it has filed a lawsuit in Moscow’s Arbitration Court against Euroclear, the Brussels-based clearing house that holds a large share of Russia’s immobilized assets in Europe. The bank said it is seeking compensation for damages linked to restrictions that prevent it from managing or disposing of assets held through Euroclear. Euroclear declined to comment, and it…
First monthly rise since November signals cautious economic hope. After months of economic uncertainty and declining public sentiment, consumer confidence in the United States has finally turned a corner. According to the latest data from the Conference Board, consumer confidence rose sharply in May, registering the first monthly increase since November and marking the largest single-month gain since March 2021.…
Toronto-Dominion Bank (TD), Canada’s second-largest lender by assets, reported a noticeable drop in second-quarter profits. The decline is largely due to a substantial increase in provisions for potential loan losses. Specifically, TD Bank set aside C$1.34 billion this quarter to cover potential defaults, significantly higher than the C$1.07 billion provisioned during the same quarter last year. This increase underscores the…
A Shrinking Club of Top-Rated Sovereign Economies Once seen as an exclusive group of financially strongest nations, the global club of countries holding the coveted triple-A sovereign credit rating is continuing to shrink. The most recent shakeup came when Moody’s Investors Service downgraded the United States from its highest credit rating of “Aaa” to “Aa1.” This move underscores growing concerns…
On May 16, 2025, the World Bank announced a significant breakthrough in Syria’s economic future: the country’s arrears of approximately $15.5 million have been fully cleared. This clearance was made possible through payments facilitated by Saudi Arabia and Qatar, marking an important milestone in Syria’s path toward regaining access to international financial support. For years, Syria’s outstanding debt had barred…
Goldman Sachs has agreed to pay a $1.45 million civil penalty to settle claims brought by the Financial Industry Regulatory Authority (FINRA). The investment banking giant was cited for failing to accurately report data on tens of billions of stock trades. According to FINRA, the inaccuracies arose from long-standing coding issues that resulted in the improper reporting of over 36.6…
The U.S. Consumer Financial Protection Bureau (CFPB) has announced a major regulatory rollback, aiming to eliminate nearly 70 policy and guidance documents that were implemented over the past decade. These documents, issued between 2011 and the present, have covered a wide range of consumer financial protections. Among the topics addressed are debt collection practices at nursing homes, financial protections for…
