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  Bloomberg Wells Fargo & Co. is suddenly under an even tighter vise as one of its chief regulators ripped up parts of a recent settlement over bogus accounts, potentially hamstringing new business moves that need government approval. While Wells Fargo is subject to the terms of its settlement, it will face hurdles to making major purchases, such as buying ...

  Bloomberg Aruna Desai has a problem with the thousands of Indian rupees she has with her in the US — she can’t find a bank to exchange her funds and couldn’t give the money away if she tried. Since Indian Prime Minister Narendra Modi removed 500- and 1,000-rupee notes from circulation, currency exchange providers in the US have been ...

  Washington / AFP JP Morgan Chase has agreed to pay $264 million to settle a foreign bribery case dubbed the “princelings case” in which the bank gave prized jobs to friends and relatives of Chinese officials, US officials announced. The multinational bank, now the world’s largest by market capitalization, admitted to taking in more than $100 million after hiring ...

  Bloomberg A contentious reform of international bank capital standards is going down to the wire, as regulators including the U.S. Federal Reserve and the European Central Bank try to bridge a wide gap on key issues before the end of the year. At issue is the way banks measure the risk of mortgages, corporate loans and even the threat ...

  Los Angeles / AFP The figure-hugging gown Marilyn Monroe wore to serenade President John F. Kennedy for his 45th birthday smashed its guide price to sell for $4.8 million at auction on Thursday. The flesh-colored dress, adorned with 2,500 hand-stitched crystals, had been expected to fetch between $2-3 million, Julien’s Auctions in Beverly Hills said. It went to Ripley’s ...

  La Paz/ AFP Centuries ago, Spanish colonizers forced their Bolivian servants to wear the puffy skirts that have come to symbolize the country’s “cholitas,” or indigenous women. Today, one local designer is turning the tables with plans to export high-end cholita fashion — blossoming skirts, bowler hats and intricately woven shawls — to Madrid, Paris and beyond. Fresh off ...

  Bloomberg After years of steady growth and skyrocketing prices, luxury watchmakers are facing slowing sales in 2016, spurring some to introduce elite models for the first time in steel this year (such as Blancpain’s Villeret Quantieme Annuel GMT) and others to deliver complications such as tourbillons and perpetual calendars at more attractive prices. “This is consistent with watch brands ...

  Bloomberg Stylish guys love pocket watches – James Dean carried one, while Johnny Depp and Justin Timberlake also have been spotted wearing them. At the Baselworld watch fair in March, they proved popular as well. Hermes debuted a trio from its Arceau Pocket Promenade de Platon collection showcasing the beauty of Grand Feu enamel work; a silk scarf that ...

  Karachi / AFP Camped on the baking concrete outside a gleaming transplant centre, Karachi’s sick have come from miles around in desperate hope for a last chance at life. There, Dr Adibul Rizvi provides free medical care to hundreds of thousands of people each year, providing a much-needed alternative to Pakistan’s public health sector, which critics dismiss as chaotic, ...

  Kiziba / AFP Inside a red-brick building with a tin roof in western Rwanda, a group of young people are hard at work studying for a US-accredited university degree. But these are no ordinary students: they are Congolese refugees for whom such a qualification could spell an escape from stateless limbo. Over the past year, a Rwandan charity called ...