Bloomberg FirstEnergy Corp. rose the most in almost a decade after announcing a $2.5 billion equity investment by a group including Elliott Management Corp. As part of the deal, the Akron, Ohio-based utility owner is forming a “restructuring working group” that will seek to minimise the time needed to exit the unregulated power business, according to a statement. The company …

Bloomberg As Nordea Bank AB blazes a trail in Europe by banning its employees from trading Bitcoin and other cryptocurrencies, the regulator is taking a back seat in a decision-making process it says is better left to the industry. Sweden’s Financial Supervisory Authority thinks “every institution must decide on the details of their internal regulations specifying the rules for their …

DUBAI / Reuters Citigroup has won formal approval from Saudi Arabia’s Capital Market Authority to begin investment banking business there, the US bank said on Tuesday. More than a dozen foreign banks have licences to operate branches in Saudi Arabia, battling for business resulting from the kingdom’s reforms to wean its economy off oil revenues. Citi was among the banks …