Russia's VTB Closes London-based Investment Bank As Sanctions Bite

Russia’s VTB Closes London-based Investment Bank As Sanctions Bite

By Lawrence White LONDON (Reuters) – Russia’s second-biggest bank VTB is closing the London-based arm of its investment banking unit VTB Capital, it said on Tuesday, as Western sanctions continue to throttle the international operations of Russia’s lenders. VTB Capital plc is “currently proceeding with an orderly wind-down of its positions and obligations,” the company…

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Puerto Rico exits bankruptcy after grueling debt negotiation

SAN JUAN, Puerto Rico (AP) — Puerto Rico’s government formally exited bankruptcy Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay its more than $70 billion debt. The exit means that the U.S. Caribbean territory’s government will resume billion-dollar payments to bondholders…

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