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Global Markets arm (CGML) has been fined over £60 million by City of London regulators after its slow reaction to a mistake by one of its traders led to US$1.4 billion of equities "being sold in European markets when they should not have been" and a sharp drop in some European market indices. The Financial Conduct Authority said its fine of £40 million, reduced to just under £28 million due to early payment, was for "failures in systems and controls" over the actions of a CGML trader in May 2022. Tap the link in our bio for the full story. #citi #jpmorgan

The Federal Reserve signaled interest rates could likely remain higher for longer than previously expected on stalling disinflation, but downplayed the possibility of rate hikes following an unchanged rate decision on Wednesday. In recent months, there "has been a lack of further progress toward the Committee's 2 percent inflation objective," the Federal Open Market Committee, the FOMC, said in a statement as it kept its benchmark rate in a range of 5.25% to 5.5%. Tap the link in our bio for the full story. #jeromepowell #finance #interestrates #money

Israel has launched a strike against Iran in retaliation for Tehran's unprecedented missile-and-drone assault on the country at the weekend. Air defences were fired in several provinces, including from a major military airbase and nuclear facilities near the central city of Isfahan, where state media said three drones had been shot down. #israel #iran

Israelis awaited word on how Prime Minister Benjamin Netanyahu would respond to Iran's first-ever direct attack as international pressure for restraint grew amid fears of an escalation of conflict in the Middle East. Netanyahu on Monday summoned his war cabinet for the second time in less than 24 hours to weigh a response to Iran's massive weekend missile and drone attack, a government source said. #israelvsiran #israel

The ranks of would-be Tesla buyers in the United States are shrinking, according to a survey by market intelligence firm Caliber, which attributed the drop in part to CEO Elon Musk's polarizing persona. While Tesla continued to post strong sales growth last year, helped by aggressive price cuts, the electric-vehicle maker is expected to report weak quarterly sales as early as Tuesday. Tap the link in our bio for the full story. #elonmusk #tesla

Britain's financial watchdog set out guidelines on Tuesday to stop misleading adverts on social media, and warned "influencers" that promoting a financial product without regulatory approval could be a criminal office. The Financial Conduct Authority set out how adverts must be fair, clear and not misleading by including risk warnings as social media becomes a central part of marketing strategies. Influencers or people paid to promote products on social media, need approval for adverts or they risk committing a criminal offence, the FCA said. Tap the link in our bio for the fill story. #scammers

The Federal Reserve maintained its benchmark rate at 5.25% to 5.5%, signaling confidence in managing current inflation without derailing economic progress. This decision, anticipated after Fed Chair Jerome Powell's hints, marks the fifth consecutive meeting without rate changes, despite maintaining plans for three rate cuts in 2024, keeping the forecast rate drop to 4.6%. However, the Fed adjusted its longer-term outlook, now expecting slower rate reductions to 3.9% in 2025 and 3.1% in 2026, revised upwards from previous estimates, indicating a cautious approach to future monetary policy adjustments. Tap the link in our bio for the full story. #federalreserve

Vladimir Putin has secured his fifth term as President of Russia during the BRICS 2024 Chairmanship, winning 87% of the final vote with the highest voter turnout since 1991. This victory solidifies Putin's unchallenged public support and sets the stage for his continued leadership in Moscow. His re-election comes as Russia prepares to host the upcoming BRICS Summit in Kazan, showing its ongoing geopolitical significance within the alliance. Tap the link in our bio for the full story. #vladimirputin

The memecoin frenzy in the digital-asset market shows no signs of stopping, with trading volumes now at levels last seen just before the burst of the last crypto bubble more than two years ago. Considered as some of the most speculative and volatile cryptocurrencies, memecoins such as Dogwifhat and Pepe are far outstripping the gains registered by market bellwether Bitcoin that has dominated the headlines. Trading volume for the top memecoins, which often trade for a fraction of a cent, reached nearly $80 billion in the past week, according to data compiled by blockchain data firm Kaiko. That’s the highest since October 2021. Tap the link in our bio for the full story.

Three U.S. lawmakers and two in Britain called for tougher safeguards against online sexual exploitation after a Reuters investigation this week identified more than 140 police complaints of nonconsensual pornography on OnlyFans, the popular adults-only website. "It is absolutely unconscionable," U.S. Representative Ann Wagner, a Missouri Republican, said in a statement about the abuses alleged in the complaints. Tap the link in our bio for the full story. #onlyforyou #sa

JPMorgan Chase & Co has been fined $348.2 million by a pair of U.S. bank regulators over its inadequate program to monitor firm and client trading activities for market misconduct, the Federal Reserve announced on Thursday. The Fed fined the bank alongside the Office of the Comptroller of the Currency (OCC), and said the misconduct occurred between 2014 and 2023. In a separate announcement, the OCC said JPMorgan (NYSE:JPM) failed to properly monitor billions of trades across at least 30 global trading venues. Tap the link in our bio for the full story. #jpmorgan #daytrader

German sportswear giant Adidas posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the U.S. struggle with high inventories. Adidas has been battling to right itself after it cut ties with Kanye West in October 2022, suspending sales of the highly profitable Yeezy sneaker line. #adidas #yeezy

The U.S. dollar was little changed in choppy trading on Tuesday, after moving higher earlier in the global session, amid data showing hotter-than-expected inflation last month for the world's largest economy. The Labor Department report showed that the Consumer Price Index (CPI) rose 0.4% in February, in line with the forecast for a 0.4% increase. On a year-on-year basis, the CPI gained 3.2%, compared with the estimated 3.1% rise. Tap the link in our bio for the full story. #forex #daytrader

Britain's economy is forecast to grow by 0.8% this year after entering a recession in the second half of 2023, finance minister Jeremy Hunt said on Wednesday, citing the latest projections from the Office for Budget Responsibility (OBR). The OBR projects economic output to expand by 1.9% in 2025 and by 2.0% in 2026, Hunt said as he gave his budget statement speech to parliament. Tap the link in our bio for the fill story. #unitedkingdom #forex #daytrader

Bitcoin hit a record high on Tuesday, fueled by investors pouring money into U.S. spot exchange-traded crypto products and the prospect that global interest rates may fall. The world's largest cryptocurrency hit a high of $69,202, topping November 2021's all-time peak of $68,999.99. Investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January. #cryptonews #bitcoin