Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Iran's Revolutionary Guard says it seized a British tanker in the Strait of Hormuz, claiming it failed to follow international marine regulations.World Newsread more
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread more
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
George Nader helped arrange a January 2017 meeting in the Seychelles between Erik Prince and the head of Russia's sovereign wealth fund, who reported directly to Vladimir...Politicsread more
These are the stocks posting the largest moves midday.Market Insiderread more
"I'm not hearing people blame the Fed as much as they're blaming tariffs," says CNBC's Jim Cramer.US Economyread more
Earlier, Williams said in a speech that "it's better to take preventative measures than to wait for disaster to unfold."The Fedread more
Regulators on both sides of the Atlantic were working late Tuesday to announce a multibillion-dollar settlement with at least five global banks to resolve charges of attempted currency manipulation in key markets for the euro, U.S. dollar, , and British pound, people familiar with the matter said.
Officials at the U.K.'s Financial Conduct Authority (FCA), which led the currency probes, and the U.S. Commodity Futures Trading Commission (CFTC), which began investigating at a later stage, are prepared to release the details of their accords at 1 a.m. ET and 6 a.m. London time on Wednesday, one person said, after a number of key players agreed to settle the charges for financial penalties totaling close to $3 billion.
The banks – JPMorgan Chase, Citigroup, HSBC, RBS, and UBS – will pay roughly $1.2 billion to the FCA and roughly $1.5 billion, or about $300 million apiece to the CFTC, with some paying slightly more and some less, one person said.
The likelihood and basic contours of Wednesday's settlement was reported by the Wall Street Journal and the New York Times on Tuesday.
The Office of the Comptroller of the Currency and the Swiss Financial Market Supervisory Authority are also likely to make announcements of currency-probe resolutions on Wednesday, said two people familiar with the matter. But the Federal Reserve and New York State's Department of Financial Services would not, one of these people added, a sign that addition settlements -- or charges -- could be yet to come. The U.S. Department of Justice is also investigating the banks' currency trading, and could yet bring criminal charges, the people added.
Barclays, which according to these people dropped out of the resolution talks amid concerns that certain other currency-manipulation investigations would remain ongoing, and Deutsche Bank, they said is also under scrutiny by regulators, were absent from the group of banks planning to settle on Wednesday.
The charges being settled Wednesday relate to attempted manipulation in a handful of currency-pair markets, including the euro-dollar, dollar-yen, and dollar-sterling market, one of the people said. Yet, despite the size of the expected financial penalties and the public attention to the cases, the investigations by some of the regulators involved was only cursory, said a second person familiar with the matter, potentially leaving doubts about the effectiveness of the settlement pacts.