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Asian(B)

Chinese banking regulator Yang Jiacai under investigation for suspected corruption

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Yang Jiacai, assistant chairman of China’s top banking regulator, has been placed under investigation for suspected corruption, making him the highest ranking banking regulator to become ensnared in the government’s latest crackdown on financial malfeasance.
The Central Commission for Discipline Inspection said in a statement on Tuesday that Yang, 56, is under investigation for suspected severe violations of discipline, the usual euphemism for corruption.
In line with its usual…

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Asian(B)

Blockchain firm R3 raises US$107m from investors including Ping An and HSBC

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Chinese insurance giant Ping An and HSBC were among the 40 financial services companies to contribute to financial technology firm R3’s US$107 million series A fund-raising round, the firm announced on Tuesday.
R3 leads a consortium of over 80 financial institutions from around the world with the goal of developing commercial applications of distributed ledger technology for the financial services industry.
Distributed ledger technology, of which blockchain is the best known example, is…

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Asian(B)

Kashkari adds to dovish caution on rate hikes at Fed

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MINNEAPOLIS (Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari said Tuesday that while the U.S. economy is closer now than it was in March to full employment, he still does not know “if we are there yet,” and that the recent decline in core inflation is “concerning.”

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