Articles by Anna Irrera and John McCrank

Financial World’s Blockchain Euphoria Gives Way to Pragmatism as Projects Stall

Two years ago Nasdaq Inc. and Citigroup Inc. announced a new blockchain system they said would make payments of private securities transactions more efficient. Nasdaq Chief Executive Adena Friedman called it “a milestone in the global financial sector.” But the …

Equifax Breach Could be Costliest Yet at $439M; Insurance to Cover $125M

Equifax Inc. said it expects costs related to its massive 2017 data breach to surge by $275 million this year, suggesting the incident at the credit reporting bureau could turn out to be the most costly hack in corporate history. …

Equifax Promises Improved Consumer Access to Credit Records

Equifax Inc. promised to make it easier for consumers to control access to their credit records in the wake of the company’s massive breach after the top U.S. consumer financial watchdog called on the industry to introduce such a system. …

Securities Regulator Calls for Better Cyber Risk Disclosure to Investors

Regulators must do more to help mom-and-pop investors better understand the potential risks posed by cyber crime and new technologies used to commit fraud, U.S. Securities and Exchange Commission Chairman Jay Clayton said on Tuesday. Clayton, who was appointed to …

Insurtech Startup Trov Launches in UK, Offering On-Demand Coverage

The on-demand economy, which uses smartphone technology to immediately fill consumer needs, has changed the way people order food, a car, or a place to stay. Now, technology startups are targeting the next business frontier – insurance – offering coverage …

New York AG Sues Barclays Over Alleged ‘Dark Pool’ Fraud

The New York State’s attorney general has filed a securities fraud lawsuit against Barclays, accusing the British bank of giving an unfair edge in the United States to high-frequency trading clients even as it claimed to be protecting other customers …

Citigroup Seeks Compensation from Nasdaq for Facebook IPO: Report

Citigroup has filed a claim with Nasdaq OMX Group to potentially receive compensation for losses associated with Facebook Inc.’s glitch-ridden market debut last May, according to two people with knowledge of the situation. Citi filed the claim on Monday, which …

SEC Approves Nasdaq Deal for Facebook IPO But Lawsuits Could Follow

U.S. regulators approved Nasdaq OMX Group’s $62 million compensation plan for firms that lost money in Facebook Inc.’s glitch-ridden market debut, a victory for the exchange operator that also set the stage for potential lawsuits from firms seeking more. The …

Stock Markets Remain Closed Tuesday; Expected to Reopen Wednesday Month End

Hurricane Sandy will close U.S. stock markets for a second day on Tuesday, as Wall Street turned its attention to whether markets would be able to resume functioning on the month’s final trading day on Wednesday. U.S. stock markets closed …

Stock Markets Expected to Remain Closed Tuesday

U.S. stock market executives, regulators and brokers have agreed to close the U.S. stock markets on Tuesday because of Hurricane Sandy, with an official announcement coming shortly, said people who were on an industry-wide call on the matter on Monday. …