WASHINGTON — The Biden administration is narrowing its targets for a barrage of economic sanctions against Russia if it attacks Ukraine — hitting major Russian banks, state companies and needed imports, though the strategy faces obstacles that have hindered previous pressure campaigns. Administration officials said the planned actions are being finalized and are unparalleled in … Read more
WASHINGTON—A federal appeals court reversed the convictions of two former Deutsche Bank AG traders found guilty of rigging a global lending benchmark, overturning one of the US government’s highest-profile court victories linked to the 2008 financial crisis. The decision Thursday dealt a blow to the legacy of an investigation into which Washington poured resources after … Read more
Facebook’s ambitious effort to bring cryptocurrency to the masses has failed. The Diem Association, the consortium Facebook founded in 2019 to build a futuristic payments network, is winding down and selling its technology to a small California bank that serves bitcoin and blockchain companies for about $200 million, a person familiar with the matter said. … Read more