…“You can’t fake being young — they’re very long established investment banks with new retail bank arms,” said another challenger bank executive….

… Bank deposits swelled during the pandemic, and $2.5tn of that cash is still in the banks . Personal net worth is still about $25tn higher than before the pandemic….

…But the bank also alienated swaths of its customers in Hong Kong, many of whom are small investors who rely on the bank’s dividends for retirement income….

…“It has really been about central bank tightening and about the market being uncertain about the future path of interest rates and that’s led to a big, big increase in the market price of interest rate volatility…

…Pension funds were persuaded by the argument that the new regulations were good for the system (including them), not just good for banks . Why?…

…In the initial stages, the SFC will only allow ETFs investing in bitcoin futures and ether futures traded on the Chicago Mercantile Exchange, Leung said…

…with me.”Washington deadlock The White House and senior Democrats have known for months that they would be facing a very difficult midterm cycle as a burst in inflation has strained American household finances …

…Musk will also have to mitigate the fallout of his cull of roughly half of the company’s workforce as he attempts to shore up Twitter’s finances to meet $1bn in annual interest payments on the debt that…

The dollar lost 10.5 kopecks to 61.99 rubles as the trading session kicks off at the Moscow Exchange.

…The flow of private climate finance needs to be increased tenfold, to roughly $3tn a year by 2030. Emissions from forests and agriculture, which are still rising, need to fall….