Container ship sinks near Hormuz as Iranian attacks on shipping surge Houthis vow more strikes after Aramco headquarters hit Russia strikes Kyiv's power plants despite energy truce; Ukraine hits Russian data centres Kyiv says Starlink curbs and missing US warnings signal a political turn US inflation rises to 3.7% on fuel costs, lifting Fed hike bets Chip stocks lose ground as ASML says AI demand will outrun supply Ethiopia and Eritrea edge toward war as army advances in Tigray Pope Leo's recovery proceeding as planned after lung cancer diagnosis China's exports jump 36% on AI demand, widening trade surplus Kenya confirms second Ebola case as Congo outbreak grows Fighting in Yemen cuts food aid to an estimated 800,000 people Meloni warns on US-Russia diesel deal as Moscow negotiates supply contracts IEA warns diesel shortage will last well into 2027 IMF presses advanced economies on debt as yields climb Researchers demand 'immediate changes' after AI agents escape containment Israeli strike kills woman in Gaza City as ceasefire strains UN warns of food crisis if Hormuz fertiliser plan stays stalled 13 children die after overloaded boat capsizes in India's Ganges EU leaders to demand new China trade tools after hybrid-car cap Eight Ecuadorian fishermen missing after US strikes on suspected drug boats Ukrainian ex-officer goes on trial in Hamburg over Nord Stream sabotage Indonesian fire haze pushes Singapore pollution to year's high, East Timor closes schools Fire breaks out at Albania's Education Ministry as student protests enter third day Bank of America profit falls 17% after $1.2bn money-laundering fine Turkish police raid opposition channel Halk TV, trustees appointed Netanyahu denies plans to attack Iran before Israeli vote as Tehran reportedly expects US strikes Trump announces 'massive' resource exploration in Greenland Japan to fund up to two GlobalFoundries chip plants in New York Court jails two Cockroach party leaders in India for entering banned protest site Mauritius extends curfew amid worst unrest since 1999 Kabila joins M23 rebels as UN envoy sees 'window of opportunity' for peace in DR Congo FBI arrests Saudi OpenAI engineer over hidden recording device Japan protests Russia's detention of reporter on spying charges Iran executes monarchist and sentences woman to death as security officials are killed Masked intruders set fire to Starlink antennas near Sofia Colombia opens embassy in Jerusalem and restores trade deal with Israel US lifts sanctions on Venezuela's legislature chief Jorge Rodriguez EU pushes accession talks with Ukraine and Moldova Nearly 8,000 detained as French school blockades continue Indonesia fuel shortages spread to Bali Container ship sinks near Hormuz as Iranian attacks on shipping surge Houthis vow more strikes after Aramco headquarters hit Russia strikes Kyiv's power plants despite energy truce; Ukraine hits Russian data centres Kyiv says Starlink curbs and missing US warnings signal a political turn US inflation rises to 3.7% on fuel costs, lifting Fed hike bets Chip stocks lose ground as ASML says AI demand will outrun supply Ethiopia and Eritrea edge toward war as army advances in Tigray Pope Leo's recovery proceeding as planned after lung cancer diagnosis China's exports jump 36% on AI demand, widening trade surplus Kenya confirms second Ebola case as Congo outbreak grows Fighting in Yemen cuts food aid to an estimated 800,000 people Meloni warns on US-Russia diesel deal as Moscow negotiates supply contracts IEA warns diesel shortage will last well into 2027 IMF presses advanced economies on debt as yields climb Researchers demand 'immediate changes' after AI agents escape containment Israeli strike kills woman in Gaza City as ceasefire strains UN warns of food crisis if Hormuz fertiliser plan stays stalled 13 children die after overloaded boat capsizes in India's Ganges EU leaders to demand new China trade tools after hybrid-car cap Eight Ecuadorian fishermen missing after US strikes on suspected drug boats Ukrainian ex-officer goes on trial in Hamburg over Nord Stream sabotage Indonesian fire haze pushes Singapore pollution to year's high, East Timor closes schools Fire breaks out at Albania's Education Ministry as student protests enter third day Bank of America profit falls 17% after $1.2bn money-laundering fine Turkish police raid opposition channel Halk TV, trustees appointed Netanyahu denies plans to attack Iran before Israeli vote as Tehran reportedly expects US strikes Trump announces 'massive' resource exploration in Greenland Japan to fund up to two GlobalFoundries chip plants in New York Court jails two Cockroach party leaders in India for entering banned protest site Mauritius extends curfew amid worst unrest since 1999 Kabila joins M23 rebels as UN envoy sees 'window of opportunity' for peace in DR Congo FBI arrests Saudi OpenAI engineer over hidden recording device Japan protests Russia's detention of reporter on spying charges Iran executes monarchist and sentences woman to death as security officials are killed Masked intruders set fire to Starlink antennas near Sofia Colombia opens embassy in Jerusalem and restores trade deal with Israel US lifts sanctions on Venezuela's legislature chief Jorge Rodriguez EU pushes accession talks with Ukraine and Moldova Nearly 8,000 detained as French school blockades continue Indonesia fuel shortages spread to Bali

Symbolic image: Bank of America profit falls 17% after $1.2bn money-laundering fine

Symbolic image

Bank of America profit falls 17% after $1.2bn money-laundering fine

10 sources

The US Treasury Department said on Tuesday it had fined Bank of America $1.2 billion for allegedly violating anti-money laundering and sanctions laws, and the Financial Times reports the bank's profit fell 17% as a result. Reuters reports that Morgan Stanley's profit rose on strength in equity trading.