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Barclays PLC has successfully dismissed two U.S. securities fraud lawsuits related to a $17.7 billion overissuance of debt, with a judge ruling no fraudulent intent was found. Investors alleged losses due to misleading assurances about internal controls, but the court deemed Barclays' corrective actions as good faith efforts rather than deception. The bank had previously acknowledged the overissuance and set aside $2.01 billion for repurchases, while also facing regulatory penalties totaling $361 million from the SEC.
Robinhood Markets Inc. is set to expand into Asia in 2025, establishing its headquarters in Singapore, as announced by CEO Vlad Tenev. This move follows the company's recent entry into the UK and comes amid increasing competition from firms like Tiger Brokers and FUTU Holdings Ltd. as Robinhood seeks growth beyond its domestic market.
Robinhood CEO Vlad Tenev announced the company's interest in expanding into sports betting, highlighting its significance to customers and culture. He suggested that this expansion could involve event contracts, similar to those launched before the presidential election. Following his remarks, shares of major sports betting companies experienced modest fluctuations, while Robinhood's stock rose by 3.5%.
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