June, 2021

• 14 June

  TD defeats $4.5bn negligence claim in Stanford fraud case

  

  Bloomberg Toronto-Dominion Bank (TD) was found not liable for losses related to convicted fraudster Allen Stanford’s Ponzi scheme, with an Ontario judge rejecting a $4.5 billion negligence claim against the firm. The lender doesn’t need to pay the claim filed by trustees trying to recover losses from Stanford investors because Toronto-Dominion “did not know or have any reason to suspect ...

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• 14 June

  Goldman Sachs, Visa sign corporate payments deal

  

  Bloomberg Goldman Sachs Group Inc inked a partnership with Visa Inc as it builds out its newly formed transaction banking arm. The bank is using Visa capabilities that allow Goldman’s corporate clients to easily send and track high-value payments to other businesses overseas, according to a statement on Monday. Goldman agreed to the deal after talking with more than 100 ...

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• 14 June

  ECB sees early tensions emerge over when to end crisis stimulus

  

  Bloomberg European Central Bank (ECB) tensions over how and when to discuss ending its emergency bond-buying program are starting to bubble over into the public domain. Little more than an hour after President Christine Lagarde said in an interview that it is “far too early” to debate when to end the stimulus, Austrian central-bank Governor Robert Holzmann said the program ...

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• 14 June

  Top banker quits Italy state bank

  Bloomberg Bank of America Corp (BofA) is hiring top investment banker Vito Lo Piccolo, who’ll leave Italy’s Cassa Depositi e Prestiti SpA just as the state-backed lender revamps its strategy under new leadership chosen by Prime Minister Mario Draghi. Lo Piccolo, 46, will join BofA to strengthen its investment banking division, people with knowledge of the matter said. He will ...

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• 14 June

  Richest clients at SEB to be offered new range of services

  

  Bloomberg SEB AB, one of Sweden’s biggest banks, is planning a new range of services to cater to the growing number of wealthy clients in northern Europe. The Stockholm-based bank says the list includes personalized advice on investing in art as well as coaching services for the children of the very rich to help them look after the fortunes they ...

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• 14 June

  US futures advance, bond rally pauses as Fed eyed

  

  Bloomberg US equity futures and stocks posted modest gains on Monday as investors prepared for a key Federal Reserve meeting later in the week. The rally in Treasuries appeared to lose steam. S&P 500 futures signaled the gauge was poised to add to the fresh record. European equities opened higher, led by shares in energy firms. The benchmark 10-year yield ...

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• 14 June

  Adani stocks decline on report some foreign investor accounts frozen

  

  Bloomberg Shares of some companies controlled by billionaire Gautam Adani plunged after a report said accounts of three Mauritius-based funds that own the group’s stocks have been frozen. The National Securities Depository Ltd froze the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund effective May 31, according to the NSDL’s website. The action could be due to ...

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• 14 June

  UAE among 20 top countries in tolerance, coexistence in 2020

  

  Abu Dhabi / WAM The UAE was ranked among the top 20 countries in the world in eight indexes of competitiveness related to tolerance and coexistence during 2020, according to data issued by three of the major international references specia- -lised in competitiveness. This means that the country has succeeded in achieving global leadership levels in this field, exceeding the ...

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• 14 June

  Saudi stocks lead Mideast higher as oil extends gains

  

  Bloomberg Saudi Arabia’s equities index extended a winning streak to five sessions on Sunday, following another positive week for crude prices. The Tadawul All Share Index climbed 0.9%, with gauges in Bahrain, Oman, Kuwait, Qatar and Israel also rising. The index in Dubai finished little changed while and Egypt’s EGX 30 declined 0.9%. Oil, the main export for Gulf countries, ...

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• 14 June

  Abu Dhabi, Poland discuss ways to boost cooperation

  

  Abu Dhabi / WAM Helal Mohammed Al Hameli, Deputy Director-General of the Abu Dhabi Chamber of Centers and Advisory Councils, has discussed with Pavel Jablonsk, Deputy Foreign Minister of Poland, ways to further boost investment and business cooperation among entrepreneurs in Abu Dhabi and Poland. During the meeting, Al Hameli expressed his pleasure with the visit of Polish Deputy Foreign ...

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