05 Apr 2018
Stay informed with our daily briefing. Here are some of our must-read picks for the day:
Banking: Trump eager to sign bill rolling back Dodd-Frank regulations
AP — President Donald Trump indicated Wednesday that he’s eager to sign a bill that would dismantle a chunk of the rules framework for banks, installed to prevent recurrence of the 2008 financial crisis that brought millions of lots jobs and foreclosed homes.
The House voted 258-159 on Tuesday to approve legislation rolling back the Dodd-Frank law, notching a legislative win for Trump, who made gutting the landmark law a campaign promise.
Swiss make raids in probe linked to Angola sovereign wealth fund
Swiss authorities have raided several locations in Switzerland as they ramp up a criminal investigation into suspected money laundering connected to crimes involving Angola’s sovereign wealth fund and its central bank, prosecutors said on Friday.
Switzerland’s Attorney General opened criminal proceedings in April in response to the reports connected with alleged offences involving assets held by the National Bank of Angola and the Fondo Soberano de Angola, the Angolan sovereign wealth fund, the prosecutors said.
Venezuela frees bank executives jailed for currency ‘attacks’
The 11 executives of Venezuela’s top bank, Banesco SA, arrested earlier this month for allegedly “attacking” the OPEC member country’s rapidly weakening currency, have been released, chief prosecutor Tarek Saab said.
Four female executives have been freed and seven male executives were being freed on Wednesday, Saab told local television channel Globovision in an interview. “With that, they are all free … but obviously our investigations are continuing,” said Saab.
Cohen distances himself from tax-cheating “Taxi King”
AP — President Donald Trump’s personal lawyer, Michael Cohen, is distancing himself from an associate in the taxi industry who pleaded guilty to tax fraud.
Evgeny Freidman was dubbed the Taxi King of New York for managing cab fleets for investors including Cohen. Freidman pleaded guilty Tuesday to pocketing $5 million in passenger fees that were supposed to fund public transportation.
Barclays has no plans for tie-up with rival banks – sources
Barclays Plc (BARC.L) is not actively exploring a potential merger with rivals, two sources close to the bank said, as speculation mounts about how the British lender plans to defend itself against activist investor Edward Bramson.
The Financial Times reported on Wednesday that Barclays’ senior board members were exploring a deal with another bank and chairman John McFarlane was keen on the idea of a possible combination with Standard Chartered (STAN.L).
Fraud: Ex-CFO gets prison term for stealing more than $1 million
AP — The former chief financial officer of a New Jersey orthopedic care provider is headed to prison for stealing more than $1 million from the company for his personal use.
Harry Wolfmuller received a two-year sentence Wednesday and must pay $1,175,720 in restitution. He pleaded guilty last November to wire fraud. The 70-year-old Wolfmuller was the CFO for an orthopedic care provider.
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