FINANCE & BANKING

Bank of America admitted to wilfully breaking US anti-money laundering law as the Treasury hit it with a $1.2 billion penalty over suspicious transactions tied to foreign laundering networks.

Bank of America faces over $1.21 billion in US penalties after regulators found anti-money laundering failures and delayed reporting of suspicious activity.

US and European regulators are intensifying scrutiny of banks' AI use, focusing on autonomous systems, cyber recovery, third-party providers and threats to financial stability.

Geoff Ogunlesi married Jennifer Meyer in Hawaii. Discover his music management career, artist credits and family background, including billionaire father Adebayo Ogunlesi

Goldman Sachs upgrades Palantir to 'Buy', citing rising demand for sovereign and customised AI, but questions remain over the stock's lofty valuation and rivals.

Elon Musk has suggested SpaceX could eventually be worth orders of magnitude more than the global economy, but provided no valuation, timetable or evidence to support the prediction.

The OCC fined American Express $350 million after finding AML failures left $13 billion in suspected activity inadequately identified and reported.

London remains just behind New York in the latest Global Financial Centres Index, but sharp gains by Gulf hubs highlight growing competition and the need for long-term strategic planning.

Citigroup overtakes Goldman Sachs in global IPO rankings as investors question whether its 'pricey' dividend can be sustained amid a fragile deals market.

SEC fines Merrill Lynch $7.5M after a risk-score threshold kept potentially suspicious activity from reaching human investigators for review.

AI voice cloning and a fake WhatsApp identity reportedly helped trigger $108M in transfers from Fideuram, leaving about €36M unrecovered.

Anthropic plans $518B in AI infrastructure commitments as it heads toward a potential $2T IPO after a $42B 2025 net loss.

Siddharth Jawahar, sentenced to 11 years for a $35 million Ponzi scheme involving Travis Kelce among its investors, sought to marry while in custody, prompting immigration concerns from prosecutors

Truist CEO Mike Lyons buys $1M in shares after the bank agrees to sell its near-prime auto-loan unit to Apollo for $5.5B.

AI agents could automate rate shopping and move household cash between accounts, challenging the low-cost deposits banks rely on to fund loans

Barclaycard blamed human error after a Manchester reader received another customer's emails and overdue payment notices for 13 months. It offered £200.

Looking for top prop firms with transparent rules in the UK? Check our top 5 list. We compared and ranked these firms based on certain metrics.