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EU fines five banks $1.2 billion for foreign exchange rigging

Credit: Reuters- Published on May 16, 2019
Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland were fined a combined 1.07 billion euros ($1.2 billion) by the European Union on Thursday for rigging the multi-trillion dollar foreign exchange market.
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Credit: Wochit Business
Published on May 13, 2019 -  00:44
U.S.-China Trade War Escalation Sparks Recession Fears
According to Reuters, Global equities fell on Monday after their worst week of 2019 as hopes of an imminent U.S.-China trade deal were crushed, raising fears of a fresh round of tit-for-tat tariffs. The impasse left investors bracing for retaliation by China for Washington’s increase on Friday of tariffs on $200 billion worth of Chinese goods. The move followed accusations by U.S. President Donald Trump that Beijing had reneged on earlier commitments. Escalation could tip the U.S.

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