Swiss wealth manager Lombard Odier indicted for money laundering

Key Points

Lombard Odier — one of Switzerland’s oldest private banks — has been indicted by Swiss prosecutors for “aggravated money laundering.”
In a release out on Friday, the Office of the Attorney General of Switzerland said it filed an indictment against Lombard Odier and a former employee of the bank at Switzerland’s Federal Criminal Court earlier on Tuesday.
The accused allegedly helped conceal the proceeds of a criminal organization set up by Gulnara Karimova — the daughter of Islam Karimov, the authoritarian president of Uzbekistan.

Source

Finance

Moody’s says the banking system, private credit markets are sound despite worries over bad loans

October 17, 2025

Key Points Despite worries over bad loans at midsize U.S. banks, there’s little evidence of a systemic problem, according to Marc Pinto, Moody’s head of global private credit. “One cockroach does not a trend make,” Pinto said. Market sentiment appeared to improve Friday after a sell-off Thursday. Source

Finance

Stocks making the biggest moves premarket: Jefferies, Oracle, Fifth Third, Micron and more

October 17, 2025

Check out the companies making headlines in premarket trading. Regional bank stocks — The subsector ticked higher after driving down the broader market on Thursday. Zions rose more than 1% on the back of a Baird upgrade , while Western Alliance bounced by less than 1%. The SPDR S & P Regional Banking ETF (KRE) […]

Finance

Chinese robotaxi company Pony.ai to work with Stellantis on Europe expansion

October 17, 2025

Key Points Pony.ai’s Luxembourg unit and Stellantis said Friday they will work together on testing robotaxis for Europe. The companies will start testing in Luxembourg in the coming months, before expanding to other parts of Europe next year. The agreement comes as Waymo this week announced plans to start testing robotaxis in London. Source