Bloomberg Bank of Montreal (BMO) has received approval from the Federal Reserve to acquire San Francisco-based Bank of the West, a combination that will create the 15th-largest US lender. After the transaction, Bank of Montreal US subsidiary BMO Financial Corp. will have consolidated assets of $286.8 billion, representing about 1% of those held by insured depository institutions in the US, ...

Bloomberg Coinbase Global Inc. is halting operations in Japan, less than a month after another major digital asset exchange Kraken announced its withdrawal from the country. Customers will have until February 16 to withdraw their fiat and crypto holdings, Coinbase said in a blog post on Wednesday. Any remaining crypto held at Coinbase on or after February 17 will be ...

  Bloomberg Bank of New York Mellon Corp. is planning to lay off about 1,500 staff this year as the US lender says costs will be a top priority for 2023. The reductions account for about 3% of the firm’s 51,700 workforce at year end. The bank reported revenue of $3.92 billion in its fourth-quarter results, missing analyst estimates. BNY ...