Search Results for: Citi
Standard Chartered to close MidEast branches
November 13th, 2014
Standard Chartered is set to cull an unspecified number of branches in the Middle East, as part of plans to cut up to 100 locations in emerging markets next year in a bid to save $400 million. The global ...
U.S. stocks slip from records; oil falls
November 13th, 2014
U.S. equity prices edged off record highs on Wednesday led by weakness in the financial sector after six global banks were fined a total of $4.3 billion for currency rigging, while the oil market sagged on concerns about a ...
Forex traders plotted strategy in secret chats
November 13th, 2014
Traders of major banks fined $4.3 billion Wednesday for attempted manipulation of foreign exchange markets used electronic chat rooms to plot their moves. Transcript excerpts of conversations released Wednesday by the Commodity Futures Trading Commission show traders from U.S. banks Citibank(C) ...
Fed investigating bank conduct in forex markets
November 13th, 2014
The U.S. Federal Reserve is investigating possible improper conduct in foreign exchange markets by large banking institutions, a spokesman said on Wednesday. “The Federal Reserve is continuing to investigate in the foreign exchange markets in coordination with other authorities, including the Department of ...
FATCA Letters Promise Disclosure To IRS, What To Do?
November 12th, 2014
If you have a bank account anywhere outside the U.S., chances are you will receive a letter saying that your bank must hand over the details of any American accounts, including yours. The letters vary with the country and ...
FCA fines five banks £1.1 billion for FX failings
November 12th, 2014
The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ...
Regulators fine global banks $3.4 billion in forex probe
November 12th, 2014
Global regulators imposed penalties totaling $3.4 billion on five major banks, including UBS (UBSN.VX), HSBC (HSBA.L) and Citigroup (C.N) on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland (RBS.L) and JP ...
Suit Accuses Banks of Role in Financing Terror Attacks
November 11th, 2014
The suit accuses banks — including HSBC and Barclays — of helping to finance the violent activities through their ties to Iran, painting Wall Street as a sort of middleman of terror. Those acts of terrorism occurred a world away ...
Banks Said Poised to Settle With CFTC in FX-Rigging Cases
November 11th, 2014
Banks suspected of rigging the $5.3 trillion-a-day currency market are preparing to reach settlements as early as this week with the main U.S. derivatives regulator, according to a person with knowledge of the cases. The Commodity Futures Trading Commission may levy ...
Google signs 60-year lease on NASA airfield and hangars
November 11th, 2014
Google has sealed a deal to lease NASA’s Moffett Airfield for the next 60 years after beginning negotiations for the land back in February. Under terms of the agreement, Google will pay NASA an estimated $1.16 billion in rent over the life of the ...
