Scotiabank Fined $127 Million for Price Manipulation, False Statements

The Bank of Nova Scotia agreed to pay more than $127 million to settle civil and criminal allegations in connection with its role in what authorities described as a massive price-manipulation scheme. 


 
Airbnb Files Confidentially for IPO With SEC

Airbnb confidentially filed paperwork for an initial public offering, marking a surprising turnaround for a company whose business was initially ravaged by the coronavirus pandemic. 


 
Traders Accused of Market Manipulation Allege Misconduct by Prosecutors

The traders have asked U.S. District Judge John Z. Lee to order a prosecutor to search Justice Department files for evidence that could be exculpatory. 


 
Fundraising at Company Tied to Steve Bannon and Guo Wengui Faces Probe

A media company linked to former Trump political adviser Steve Bannon and exiled Chinese businessman Guo Wengui raised more than $300 million this spring in a private offering now being investigated by federal and state authorities, say people familiar with the matter. 


 
Nvidia Posts Record Sales as Pandemic Sustains Chip Demand

Nvidia continued its run of strong financial performance during the pandemic, posting record sales in the latest quarter propelled by strong demand for online gaming and remote computing services. 


 
Offshore Drilling Contractor Valaris Files for Bankruptcy in the U.S.

Valaris said the restructuring agreement it has struck with about half of its bondholders will help it eliminate nearly all of its liabilities. The company's chapter 11 plan must be approved by the U.S. Bankruptcy Court in Houston. 


 
Facebook Removes QAnon Groups

The social-media company has expanded its anti-violence policy after data showed fast-rising popularity for the extremist conspiracy theory. 


 
Qantas Reports Large Loss Due to Pandemic

Australia's No. 1 airline, Qantas Airways Ltd., recorded a statutory net loss of US$1.4 billion in the fiscal year through June and said its international network is unlikely to restart before July 2021. 


 
Citi Widens Hunt for Revlon Loan Payments

Citigroup widened its effort to claw back money it wired to Revlon lenders, suing more investment firms that say they don't believe a major financial institution sent them portions of a $900 million payment by mistake. 


 
Maersk Quarterly Profit Triples on Rising Freight Rates, Falling Costs

Taking container ships out of service is proving profitable for A.P. Moeller-Maersk.