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Credit Suisse to pay $135mn to settle New York FX probe

Bloomberg Credit Suisse AG will pay $135 million to resolve currency-manipulation allegations by New York’s banking regulator, the latest echo from authorities’ long-running scrutiny of foreign-currency trading at big banks. Traders at the Zurich-based bank, prodded by executives in some cases, shared information about clients’ currency orders, talked to traders from other banks and in some instances front-ran customer orders ...

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Sberbank third quarter profit hits record as dividend boost eyed

Bloomberg Sberbank PJSC set a record for profit in the third quarter, strengthening the case for fatter dividends as Russia’s biggest bank weighs changes to shareholder payouts. Net income rose 62 percent from a year earlier to 222 billion rubles ($3.68 billion), compared with a 193 billion-ruble average estimate of eight analysts surveyed by Bloo-mberg. The previous record was set ...

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Bank rescue plan may squeeze a corner of Canada’s bond market

Bloomberg New rules to protect taxpayers from bank failures may push investors out of a C$95 billion ($75 billion) corner of Canada’s corporate bond market, reducing liquidity and raising borrowing costs. Under a regime set to take effect in 2018, short-term bank-deposit notes typically sold to institutional investors will gradually be replaced by senior “bail-in” debt that can convert to ...

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