Efforts by Citigroup Inc. senior executives to tighten controls in Mexico were rebuffed by managers there for at least five years before the U.S. bank found the local unit had suffered a $400 million loan fraud last month, four people with direct knowledge of the matter said.
Goldman Sachs Group Inc., which generated one-third of its profit from trading last year, is restarting Middle East and North Africa equity sales in Dubai, according to two people familiar with the matter.
The ruble was set for a fourth consecutive weekly decline of more than 1 percent, while Russian stocks fluctuated as lawmakers signaled they will accept the accession of Crimea to the Russian Federation.
Secusmart GmbH has sold thousands of secure smartphones used by top government officials such as Germany’s Angela Merkel. As privacy concerns grow, Secusmart is predicting that regular citizens will also become big buyers of its 2,000-euro ($2,770) devices.
Sales of structured notes linked to the credit of Russian companies climbed to the highest in three years last month, as investors bet the country’s economy could weather emerging-market turmoil and the crisis in the Ukraine.