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Banking

Exclusive: US FDIC is probing former First Republic Bank directors and officers

Nov 1 (Reuters) - The Federal Deposit Insurance Corporation (FDIC) is investigating potential misconduct by executives and board members of First Republic Bank (FRCB.PK), raising the prospect of stiff penalties for the failed bank's former bosses."We can confirm a D&O probe into First Republic is taking place," a spokesperson told Reuters on Wednesday, referring to the bank's directors and officers. The regulator did not provide further details.The investigation, which has not previously been reported, is the third the FDIC has opened into bank failures earlier this year which cost the...
Banking

Facebook owner Meta faces EU ban on targeted advertising

Meta and Facebook logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsMeta could be fined up to 4% of its global turnoverMeta says in process of complyingOSLO, Nov 1 (Reuters) - The European data regulator has agreed to extend a ban imposed by non-EU member Norway on "behavioural advertising" on Facebook and Instagram to cover all 30 countries in the European Union and the European Economic Area, it said on Wednesday.The ban on such advertising, which targets users by harvesting their data, is a...
Funds

Anti-war protest hits US Congress hearing as Biden officials seek aid for Israel, Ukraine

WASHINGTON, Oct 31 (Reuters) - Two of President Joe Biden's top advisers asked U.S. lawmakers to provide billions more dollars to Israel on Tuesday at a congressional hearing interrupted repeatedly by protesters denouncing American officials for backing what they called "genocide" against Palestinians in Gaza.Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin testified to the Senate Appropriations Committee on Biden's request for $106 billion to fund ambitious plans for Ukraine, Israel and U.S. border security.Arguing that supporting U.S. partners is vital to national security, Biden requested $61.4...
Money

Mike Pence, former vice president, drops out of Republican presidential campaign

LAS VEGAS, Oct 28 (Reuters) - Former U.S. Vice President Mike Pence ended his cash-strapped presidential campaign on Saturday, after struggling for months to convince Republican voters he was the best alternative to the man he once served with unswerving loyalty, Donald Trump.Pence's surprise announcement at the Republican Jewish Coalition donor conference in Las Vegas made him the first big-name candidate to drop out. Trump is the runaway frontrunner in the race."Traveling over the country over the past six months, I came here to say it's become clear to me:...
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