US Federal Reserves fines BNP Paribas US$246 million for foreign exchange fixing
The Federal Reserve announced on Monday (July 17) it was fining BNP Paribas US$246 million (S$337m) for “unsafe and unsound” practices in its foreign exchange markets.
The regulator said it found deficiencies in the bank’s oversight and internal controls of its traders, and in particular failed to detect and address those traders’ use of electronic chatrooms to talk with competitors about trading positions.
The fine marks the latest action taken by the US central bank as part of a long-running crackdown on price-fixing across foreign exchange markets, in which several banks have already pleaded guilty to conspiring to manipulate currency prices.
US ends laptop ban on Middle Eastern airlines
The US Transportation Security Administration said on Monday (June 17) it has lifted a ban on passengers on Saudi Arabian Airlines carrying large electronics like laptops onboard US-bound flights, the last carrier under the restrictions.
In March, US officials imposed restrictions on passengers carrying laptops and other large electronic gear in cabins on nine airlines, most of which were Middle Eastern carriers, to address the potential threat of hidden explosives.
Last month, US officials announced new security requirements for all airlines rather than an expansion of the laptop ban and have been dropping the restrictions from airlines as they boosted security.
Probe into fatal US police shooting of Australian woman
Authorities in the US state of Minnesota on Monday (July 17) were investigating the police-involved shooting of an Australian woman, who was killed under mysterious circumstances after placing an emergency call.
Justine Damond was fatally shot by one of two responding officers Saturday (July 15) night, after she called 911 to report a possible assault in an alleyway in her Minneapolis neighbourhood.
The Minnesota Bureau of Criminal Apprehension, which investigates all officer-involved shootings in the state, would not say what precipitated the shooting. The officers’ body cameras were not activated during the incident, authorities said.
Promising immunotherapy helps adults with leukemia
A cancer treatment that genetically alters immune cells has shown success in 71 per cent of adults with the most common form of leukemia, and for whom other medicines had failed, US researchers said Monday (July 17).
The treatment, known as experimental chimeric antigen receptor (CAR) T-cell immunotherapy, has made headlines in recent years, particularly after it helped beat back paediatric leukemia in the first US child to undergo the treatment.
The latest study involved 24 adults, aged 40 to 73, with chronic lymphocytic leukemia (CLL) that had failed to respond to between three and nine other kinds of treatments and were not expected to live long.
Football: Barca announce record S$1.1 billion revenue
Barcelona announced Monday (July 17) record income of 708 million euros (S$1.1 billion) for 2016/2017 with an after-tax profit of 18m euros.
The Spanish giants said the healthy revenue was up 13m euros on the forecast figure in their budget for the period.
A statement following the approval of the accounts at a board meeting disclosed the club has reduced its debt by 24.5m euros to 247m euros.
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