Citi to cease operations in Haiti after 50 years

(Reuters) -Citigroup will wind up its operations in Haiti due to weak demand from institutional clients and lower international banking activity, ending its presence of more than five decades in the country. The exit is part of a strategic review and will not have a significant economic impact on Citi, the bank said on Monday. Citi, one of the largest banks in the United States, has exited non-core markets since CEO Jane Fraser took the … Read more…

Exclusive-Bain Capital nears deal to buy Envestnet, sources say

By Milana Vinn (Reuters) -Private equity firm Bain Capital is nearing a deal to acquire Envestnet, a U.S. financial software vendor with a market value of about $3.5 billion, people familiar with the matter said on Monday. If the negotiations conclude successfully, a deal with Bain could be announced as soon as this week and would value Envestnet at close to its current stock price, the sources said. Envestnet shares are hovering at around $63. … Read more…

Wall St regulator to re-propose ‘swing pricing’ rule for open-end funds

(Reuters) – Wall Street’s top regulator no longer expects to move ahead with proposed “swing pricing” regulations on the management of liquidity at so-called open-end funds, choosing instead to issue a fresh proposal after facing industry opposition, according to a regulatory agenda on Monday. The U.S. Securities and Exchange Commission in 2022 issued the proposal which it said would help such funds, in which investors can redeem their shares on a daily basis, better prepare … Read more…

ECB accounts show some worries about stalling disinflation

FRANKFURT (Reuters) – Some European Central Bank policymakers felt uneasy about recent inflation developments when they cut interest rates last month and feared that any further delay in reaching the target would be costly, the accounts of their June 5-6 meeting showed on Thursday. The ECB cut interest rates at that meeting and signalled that more easing is likely to come but kept open the timing of subsequent moves, leaving investors to guess whether one … Read more…

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Factbox-Some congressional Democrats call on Joe Biden to end his reelection bid

By Moira Warburton WASHINGTON (Reuters) – A growing number of Democrats in the U.S. Congress are calling on Democratic President Joe Biden to end his re-election bid after the 81-year-old incumbent’s halting debate performance against Republican rival Donald Trump. Here is a list of lawmakers who have publicly called for Biden to not run again. REPRESENTATIVE LLOYD DOGGETT Doggett, a U.S. House of Representatives member from a safe Democratic district in Texas, was the first … Read more…

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Carlyle in talks to buy Baxter’s kidney care unit, source says

(Reuters) – Private equity firm Carlyle Group is in exclusive talks to acquire Baxter International’s kidney care spinoff Vantive for more than $4 billion, including debt, a person familiar with the matter told Reuters on Friday. Shares of the Deerfield, Illinois-based firm rose about 4%. The parties had entered exclusive negotiations in late June, the person said, adding that a deal could be announced in the coming weeks. Medical device maker Baxter said in March … Read more…

Biden calls debate ‘bad episode’ in ABC News interview

WASHINGTON (Reuters) -U.S. President Joe Biden again called his debate against Republican opponent Donald Trump “a bad episode,” suggesting in an interview with ABC News on Friday that his shaky performance was due to poor preparation, exhaustion and illness. “No indication of any serious condition. I was exhausted. I didn’t listen to my instincts in terms of preparing and — and a bad night,” Biden, 81, told ABC News anchor George Stephanopoulos. “I was feeling … Read more…

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UK’s Conservatives face leadership “bloodbath” as party seeks new direction

By Elizabeth Piper LONDON (Reuters) – The recriminations and jostling for top positions among Britain’s Conservative lawmakers began long before Thursday’s crushing election defeat to Labour that some party figures said left the party facing the prospect of a decade out of power. After 14 years in government – the last eight marked by chaos and divisions following the Brexit vote – the Conservatives are now confronted by an internal struggle among lawmakers, grassroots members … Read more…

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Crypto hacking thefts double to $1.4 billion in first half of 2024, researchers say

LONDON (Reuters) – The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said on Friday. Hackers had stolen more than $1.38 billion worth of crypto by June 24, 2024, compared with $657 million in the same period in 2023, TRM Labs said in a report. The … Read more…

Robinhood considering offering crypto futures in US, Europe, Bloomberg reports

(Reuters) – Robinhood Markets is considering offering cryptocurrency futures in the U.S. and Europe in the coming months, Bloomberg News reported on Tuesday, citing people familiar with the matter. The commission-free trading app is hoping to use the licenses of crypto exchange Bitstamp, which it agreed to buy last month in a $200 million deal, once the transaction closes next year, the report said. It also wants to launch CME-based futures in the U.S. for … Read more…