1. Barclays got fined again:
New York’s financial regulator announced Wednesday another $150 million fine against British bank Barclays over its “misconduct” in foreign exchange services offered to clients.
2.Hedge funds are having a bad time:
BlackRock is winding down its Global Ascent Fund, a global macro hedge fund that once contained $4.6 billion in assets, while Achievement Asset Management, a Chicago-based hedge fund, is closing.
3.A rate hike is coming in December:
Minutes of the Federal Open Markets Committee’s meeting in October indicated that the US Fed is ready to raise interest rates next month for the first time in nine years. The Fed also agreed that the pace of rate hikes should be gradual.
4.VW to Meet With Regulators as Patience Frays:
As Volkswagen AG faces a Friday deadline for proposing how it will fix nearly half a million cars tainted by illegal software, the German auto giant is grappling with a contentious relationship with regulators in the U.S. and Europe who will determine the penalties for its emissions cheating.
5.Iron Ore Bludgeoned to Record Low in Asia on China Steel Concern:”
Iron ore contracts in Asia slumped to records amid speculation that mills in China are reining in steel production as they battle losses, slumping prices and tighter credit, hurting demand for the raw material that’s mainly shipped from Australia and Brazil.
6.Leaked Lyft Financials Show the Struggles of Being No. 2 Behind Uber:
Ride-sharing pioneer Lyft is heading back to the fundraising till, but its numbers may not look that rosy to investors. The company lost $127 million in the first half of 2015 on $46.7 million in revenue, according to private fundraising documents obtained by Bloomberg.
7.Banks charge over 7 percent to transfer money internationally, report says:
U.S. and UK banks charge on average more than 7 percent for international money transfers worth $1000, several times the average cost at a new group of web providers, the first detailed study of the market showed on Thursday.
8.Australian law firm files $72-million class action against Volkswagen:
Law firm Maurice Blackburn will launch a class action lawsuit on Thursday on behalf of Australian owners of scam-tainted Volkswagen AG seeking total damages “well north” of A$100 million ($71.59 million).
9.Brent oil eases as focus returns to global oversupply:
Oil prices eased, reversing the previous day’s gains, as the risk premium stemming from the Paris attacks faded, and the focus returned to the global oversupply in crude and petroleum products.
10.Nigeria’s Central Bank strengthens forex peg to N196.97/$:
The Central Bank of Nigeria (CBN) on Tuesday strengthened its exchange rate peg slightly to N196.97 against the United States dollar on the interbank market from the N197 to a dollar it set last week, figures published by the apex bank on its website showed.
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