market news

Former Merck & Co analyst enters guilty plea for insider trading

A former Merck and Co Inc analyst was sentenced to more than three years in prison and fined almost $700,00 due to his involvement in insider trading. He was accused of having tips his school friend regarding the information leading to his friend obtaining profit from the information.

CItigroup will scale down its block trading business

Citigroup spokesperson said that the bank will scale down its block trading business in the next quarter. The decision came after the bank saw a huge risk in the trading business as the global economic goes into an uncertainty phase.

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