Putin hedges Trump bet by dumping Treasuries to safeguard assets
From Newsmax Russian officials are hoping Vladimir Putin’s rapport with Donald Trump will lead to rapprochement with the U.S. But they’re not taking any chances. A U.S. Treasury report this week appears to show Russia liquidating dollar assets at a…
U.S. Banks’ love of the Cayman Islands shows there’s still room to simplify, Fed says
By Yalman Onaran From Bloomberg The largest U.S. banks, after a decade of efforts at simplifying their organizational structure, still have hundreds of overseas subsidiaries and a fondness for tax-haven or secrecy-protecting locations such as the Cayman Islands. Those are…
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Puerto Rico should rebuild power from scratch: U.S. Fed official
By Jonathan Spicer From Reuters NEW YORK (Reuters) – Puerto Rico should “start from scratch” rebuilding its already outdated power infrastructure after deadly Hurricane Maria last year devastated it and left citizens marooned, the U.S. central banker overseeing the island…
