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Cash trickles back to emerging markets, faces growth challenge

By Sujata Rao LONDON (Reuters) - Investors are starting to move back in to emerging stocks and bonds after a long hiatus, data from fund tracker EPFR shows, but the economic slowdown gripping the developing world is likely to constrain market rallies. Emerging stock and bond funds saw their first weekly inflows after more than $50 billion fled in the first three months of 2014, with equities snapping a 22-week losing streak, Boston-based EPFR Global said.

Citigroup names McQuade to lead new Fed application: memo

NEW YORK (Reuters) - Citigroup Inc <C.N> said on Thursday that Gene McQuade, a senior executive who had planned to retire, is instead remaining to lead the bank's efforts to win permission from regulators to boost dividends and buy back stock. Last week, the Federal Reserve rejected the bank's request to spend $6.4 billion buying back shares and boosting its dividend. Bank executives are still reeling from that move, which Chief Executive Officer Michael Corbat wrote in a memo to employees "is a call to action for our firm."

Bank of America in settlement talks over credit card practices: WSJ

(Reuters) - Bank of America Corp is in talks to may pay more than $800 million to settle allegations by the Consumer Financial Protection Bureau that it forced customers to sign up for extra credit-card products, the Wall Street Journal reported, citing people familiar with the matter. The settlement could be announced in the coming days, the Journal said. (http://link.reuters.com/muz28v) (Reporting by Avik Das in Bangalore; Editing by Sriraj Kalluvila)

Citigroup faces criminal probe for fraud at Mexico unit: source

(Reuters) - Federal authorities have opened a criminal investigation into a $400 million fraud involving Citigroup's Mexican unit, according to a person familiar with the matter. Citigroup disclosed in February it had discovered at least $400 million in fraudulent loans in its Mexico subsidiary, Banco Nacional de Mexico, known as Banamex, and said employees may have been in on the crime. The bad loans were made to Mexican oil services company Oceanografia, a contractor for Mexican state-owned oil company Pemex.

Citigroup faces criminal inquiry for fraud at Mexico unit: NYT

(Reuters) - Federal authorities have opened an investigation into a $400 million fraud involving Citigroup's Mexican unit, the New York Times reported, citing people briefed on the matter. Citigroup disclosed in February it had discovered at least $400 million in fraudulent loans in its Mexico subsidiary, Banco Nacional de Mexico, known as Banamex, and said employees may have been in on the crime. The bad loans were made to Mexican oil services company Oceanografia, a contractor for Mexican state-owned oil company Pemex.

Brazil watchdog lifts suspension of Oi offer, paves way for merger

By Joan Magee and Guillermo Parra-Bernal NEW YORK/SAO PAULO (Reuters) - Brazil's securities industry watchdog CVM on Tuesday lifted a suspension on Grupo Oi SA's 6 billion real ($2.7 billion) share offering, paving the way for the Brazilian telecommunications company's merger with Portugal Telecom SGPS SA.

Brazil watchdog lifts suspension of Oi offer, paves way for merger

By Joan Magee and Guillermo Parra-Bernal NEW YORK/SAO PAULO (Reuters) - Brazil's securities industry watchdog CVM on Tuesday lifted a suspension on Grupo Oi SA's 6 billion real ($2.7 billion) share offering, paving the way for the Brazilian telecommunications company's merger with Portugal Telecom SGPS SA.

Citigroup uncovered rogue trading in Mexico, fired two bond traders

By Elinor Comlay and David Henry (Reuters) - Citigroup's <C.N> Mexican subsidiary Banamex fired two bond traders after uncovering rogue trading last year, two sources close to the matter said, raising fresh questions over what controls the troubled unit had in place to police employees. Banamex suffered paper losses from unauthorized trading that ran into the millions or perhaps even tens of millions of dollars, the sources said.

JPMorgan fails to end lawsuit over London Whale losses

By Jonathan Stempel NEW YORK (Reuters) - JPMorgan Chase & Co must face a lawsuit from shareholders accusing it of securities fraud by misleading them about its ability to manage risk, which surfaced when it lost $6.2 billion in the "London Whale" scandal.

Swiss competition authority investigates 8 banks on possible foreign exchange market-fixing

GENEVA - Switzerland's competition regulator on Monday named eight global banks it is investigating for possible manipulation of foreign exchange rates. The move is the latest twist in an investigation by regulators in the U.S., Europe and Asia on whether major banks colluded to manipulate the trillion-dollar foreign exchange market.
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