Canada’s parliament grills bank CEOs on climate policy in rare meeting
The CEOs of Canada’s big five banks on Thursday reassured members of parliament about their commitment to fighting climate change, but said reducing funding for fossil fuel extraction would take time and more works need to be done to reach net zero emissions. In a rare meeting, MPs grilled the heads of Royal Bank of […]
Explosive cases flow to US Supreme Court from ‘bold’ regional court
When three conservative judges sitting on a New Orleans-based U.S. appeals court declared the funding mechanism approved by Congress for the federal consumer financial watchdog agency unconstitutional, they said the nation’s history of separating powers among the branches of government compelled their ruling. It turns out these judges – all appointed by Republican former President Donald Trump – got […]
Mnuchin’s Liberty Strategic Capital reports 7.7% stake in NYCB
Liberty Strategic Capital on Monday disclosed it held a 7.7% stake in regional lender New York Community Bancorp (NYCB.N), opens new tab as of June 7. Former U.S. Treasury Secretary Steven Mnuchin’s private equity firm was part of an investor consortium that invested roughly $1 billion in the bank in March.
Exclusive: G7 plans to warn small Chinese banks over Russia ties, sources say
U.S. officials expect the Group of Seven (G7) wealthy democracies to send a tough new warning next week to smaller Chinese banks to stop assisting Russia in evading Western sanctions, according to two people familiar with the matter. Leaders gathering at the June 13-15 summit in Italy hosted by Prime Minister Giorgia Meloni are expected to focus […]
Deutsche Bank buys $1.8 billion aviation loan portfolio from NordLB
Germany’s Deutsche Bank (DBKGn.DE), is buying a 1.67 billion euro ($1.79 billion) aviation loan portfolio from lender NordLB for an undisclosed price, the banks announced on Monday. Germany’s largest lender won a bidding process for the loans, beating out a number of domestic and international parties, NordLB said. Deutsche said the loans are to a range […]