ANZ’s Profit Flat, Increases Dividend

Updated Nov. 12, 2023 5:45 pm ET SYDNEY—ANZ Group Holdings said its annual net profit was flat on a year earlier, but the bank increased its dividend even as higher interest rates impact economic activity. The Australian major lender reported a statutory profit of 7.1 billion Australian dollars (US$4.51 billion) for the 12 months through … Read more

Hamas Needed a New Way to Get Money From Iran. It Turned to Crypto.

Nov. 11, 2023 11:00 pm ET In mid-2019, Israel’s military used a precision strike on a narrow street to kill a Hamas commander whom it called Iran’s money man in Gaza. The commander ran an off-the-books system of remittances in which trusted agents shuttled physical cash and goods across borders to settle customers’ balances. This … Read more

Key Witness at Sam Bankman-Fried Trial to Launch New Crypto Exchange

A group of former FTX executives, including one who served as a key witness against Sam Bankman-Fried, are teaming up to build a new cryptocurrency exchange that aims to solve the problems that doomed their previous employer. Trek Labs, a Dubai-based startup led by the former FTX general counsel Can Sun, received a license from … Read more

Basic Materials Roundup: Market Talk

Updated Nov. 10, 2023 5:23 pm ET The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 1405 ET – Wheaton Precious Metals missed on adjusted earnings, but only due to timing of sales. National Bank of Canada’s Shane Nagle says in a report … Read more

Hack at ICBC Targeted the Digital Underbelly of Financial Markets

Unit of Industrial and Commercial Bank of China remains unplugged for U.S. markets.

Former NYSE President in Talks to Reboot FTX Exchange

A company run by former New York Stock Exchange President Tom Farley is among three suitors vying to buy the remnants of FTX, as the auction for the collapsed cryptocurrency exchange founded by Sam Bankman-Fried reaches its final stages. Bullish, the crypto exchange run by Farley, fintech startup Figure Technologies and crypto venture-capital firm Proof … Read more

Goldman Moves to Unload GM Credit Card

Updated Nov. 7, 2023 5:44 pm ET Goldman Sachs plans to begin a process to unload its General Motors credit card program in another step away from its failed foray into consumer lending. The bank on Tuesday informed a group of employees within its Platform Solutions division, who work on the GM card, that a … Read more

UBS Group Swings to Net Loss as Credit Suisse Costs Weigh

Updated Nov. 7, 2023 1:51 am ET UBS Group swung to a wider third-quarter net loss than analysts had expected after costs related the integration of Credit Suisse cut into the bank’s earnings. The Swiss bank said Tuesday that its net loss was $785 million compared with $1.73 billion in net profit in the prior … Read more

Sam Bankman-Fried Verdict Reflects Crypto’s Broken Dreams

Sam Bankman-Fried is gone. And crypto is back to its favorite activity: a wild speculative rally. The FTX founder’s trial featured a parade of witnesses detailing a multibillion-dollar fraud at the heart of the crypto market. None of it dented the enthusiasm of crypto investors. During the trial, crypto prices surged on optimism that U.S. … Read more

FTX Founder Sam Bankman-Fried Found Guilty of Fraud

Listen to article (2 minutes) FTX founder Sam Bankman-Fried was convicted Thursday of stealing billions of dollars from customers of the doomed crypto exchange, in what prosecutors called one of the biggest financial frauds in U.S. history.  A New York federal jury convicted him of all seven counts he faced. The verdict capped the stunning … Read more