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…
On August 18, 2025, lawyers representing Prateek Gupta failed to appear at a London court hearing in the long-running fraud case filed by Geneva-based commodity trader Trafigura. They cited funding difficulties as the reason for their absence, notifying the court and Trafigura a day in advance. Trafigura’s counsel, Edward Ho, dismissed the financial hardship claim as a familiar ploy, stating…
On August 13, 2025, New York Attorney General Letitia James filed a high-profile lawsuit against Early Warning Services (EWS), the operator of the Zelle payments platform. The suit, lodged in a Manhattan state court, alleges that the company’s failure to implement critical security measures enabled criminals to steal more than $1 billion from consumers between 2017 and 2023. The complaint…
U.S. finance chiefs have been paring back cash balances and redeploying funds into higher-yielding securities, marking a sharp reversal from the pandemic era’s cash hoarding. Fresh data show the median corporate allocation to “cash”, a category that includes hard currency, money-market funds, and 90-day Treasury bills, fell to 20% at the end of July, down from 40% in 2021. The…
Wall Street brokerages remain firm in their belief that the Federal Reserve will move to cut interest rates in September, following a weaker-than-expected U.S. employment report for July. The Labor Department revealed that nonfarm payrolls grew by just 73,000 jobs during the month, well short of the roughly 110,000 anticipated by economists. Compounding the disappointment, June’s previously reported job growth…
Glencore has decided to keep its primary listing on the London Stock Exchange after a formal review weighed the pros and cons of shifting to the United States. The commodities giant concluded that a transatlantic move would not deliver clear value for shareholders at this time, so it will remain anchored in London and continue to monitor market conditions. The…
A Strategic Push Into Direct Lending Citigroup has appointed Aashish Dhakad to head North America private credit origination, a role that formalizes the bank’s growing effort to connect its corporate clients with non-bank lenders. The internal memo, seen by Reuters, says Dhakad will join in October 2025 and be based in New York, underscoring Citi’s bid to convert its client…
