Midweek Roundup: US and Cuban Officials Discuss Banking, Billions Withdrawn from Lender Tied to 1MDB, and More

Dozens of U.S. and Cuban officials met with bankers from both nations last month to discuss the possibility of further financial integration following a 2014 decision by the Obama administration to relax sanctions against the communist country, the Miami Herald said. More The success of U.S. efforts to locate and return an estimated $3.5 billion in funds embezzled from Malaysia's sovereign wealth fund 1Maylasia Development Bhd., or 1MDB, may depend as much on personal connections between American officials and their overseas counterparts as it does on legal mechanisms and assistance treaties, according to sources interviewed by the Financial Times. More...