Bloomberg Facebook Inc told US senators that the initial basket of currencies that will back its Libra cryptocurrency will likely include the US dollar, euro, yen, British pound and Singapore dollar. The list responds to concerns from Virginia Democratic Senator Mark Warner that China may push the Libra Association to include the yuan in the so-called stable coin, which Facebook ...

Bloomberg Online banks have been more aggressive than their established rivals in attracting customers with high deposit rates. Now that rates are falling, they’re quicker to cut as well. Ally Financial Inc and American Express (AmEx) Co lead the pack in lowering rates across deposit products, Credit Suisse Group AG analysts led by Moshe Orenbuch said in a note. Ally ...

Bloomberg Citigroup Inc trading revenue is set to drop this quarter amid volatility that gripped markets for most of August, while a top Bank of America Corp executive said his traders are “doing OK” in the period. Investment-banking revenue at Citigroup is also likely to decline from a year earlier, Chief Financial Officer Mark Mason said at an investor conference. ...