Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a U.S. editor. He has worked on assignments in the major financial centres of Europe and the US and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol.
A U.S. regulator has fined the mega-bank $400 mln for repeatedly failing to bring risk management and other controls up to snuff. It helps explain why gaffe-prone Citi trades at just half its book value. Incoming boss Jane Fraser will start the job fighting decade-old problems.
Public markets are luring two big mortgage firms as low rates and resilient house prices send loan demand to record levels. But 2020’s pandemic-skewed market is wacky, risky and unsustainable. Taking more share from banks could justify investor hype, though is hardly guaranteed.
The Tesla boss’s plan to slash battery costs and ramp up sales put the stock into a 12% reverse. A three-year time frame jarred, and he oversold the event too. Musk’s pitches usually prompt an acceleration. It’s a welcome sign that CEO and shareholders are toning down some hype.