Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
Democratic Rep. Maxine Waters on Tuesday requested that Facebook pause its development of Libra, an upcoming cryptocurrency that the company plans to release in 2020.Technologyread more
"I do expect our stock market to be hammered if nothing positive comes of this G-20 meeting ... the most likely outcome is nothing happens," Jim Cramer says.Mad Money with Jim Cramerread more
The S&P 500 is closing in on its all-time high, and is likely to sail past it, as long as the Fed promises lower interest rates and the trade war calms down.Market Insiderread more
Union Pacific CEO Lance Fritz tells Jim Cramer that he is optimistic about trade relations with China, Mexico, Japan, and the EU.Mad Money with Jim Cramerread more
See which stocks are posting big moves after the bell on June 18.Market Insiderread more
President Donald Trump on Tuesday announced that he will not nominate acting Defense Secretary Patrick Shanahan to hold the position in a permanent capacity. Army Secretary...Politicsread more
But a look at state-by-state data clarifies the scale of Trump's challenge. As the president tries to rally supporters at a 2020 kickoff rally in Orlando on Tuesday, he is...Politicsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
A Bloomberg News report Tuesday morning said the White House had looked at such a move in February.Marketsread more
The order for 200 737 Max jets from British Airways parent IAG was a vote of confidence for Boeing's beleaguered aircraft following two fatal crashes.Airlinesread more
LONDON, June 4 (Reuters) - U.S. regulators are investigating City Financial Investment Company, a London-based hedge fund firm that entered administration three months ago, according to a notice published at UK companies registrar Companies House on Tuesday.
The U.S. Securities and Exchange Commission (SEC) watchdog started an inquiry before two administrators from FRP Advisory were jointly appointed on March 21, the notice of administrator's proposals said.
City Financial was hit by poor performance at its former flagship fund Decca, which it ultimately shut down alongside two other funds in a broader restructuring that, according to one source at the time, shrunk total assets to $1.2 billion by the end of 2018 from $3.3 billion a year earlier.
FRP and law firm Jones Day were cooperating with the SEC, the notice said. Forensic images of all IT systems had been taken and available accounting books, records and bank statements were being reviewed.
The administrators' forensic team and Jones Day would "continue to liaise with the SEC and various third parties in order to address the SEC's queries and attempt to source the necessary information requested", the report said.
A spokesman for the administrators said because the investigation preceded the involvement of the administrators, he could not comment on the status or scope of the SEC investigation. An SEC spokeswoman declined to comment.
The Financial Conduct Authority said in March the funds managed by City Financial were not part of the administration because they were separate legal entities that had either been transferred to a new fund manager or were in the process of being wound down.
The regulator declined to comment on whether it was also investigating the firm.
($1 = 0.7889 pounds) (Reporting by Carolyn Cohn and Kirstin Ridley; Editing by Mark Potter)