Search Results for: Banks
How Money is Made
August 20th, 2014
Last month, the BRICS countries (Brazil, Russia, India, China, and South Africa) announced the establishment of their own development bank, which would reduce their dependence on the Western-dominated, dollar-focused World Bank and International Monetary Fund. These economies will benefit ...
U.K. Regulator ‘Comfortable’ With Fund Managers Earning Millions
August 20th, 2014
Fund managers are entitled to be paid millions of pounds if they’re delivering high returns for investors, the U.K. markets regulator said, the first sign it won’t seek to impose wage caps on the industry. Regulators around the world ...
Citigroup considers sale of Japan retail unit
August 20th, 2014
Citigroup Inc is considering the sale of its Japanese retail unit and has approached about 10 banks, according to a source, as the U.S. banking company struggles to turn around its Japanese operations. Citigroup’s move came as Japan’s banking ...
More gloom ahead for FX dealers in next two years
August 19th, 2014
Consultancy paints a far from rosy picture for the FX market in the years ahead as technology investment takes centre stage. Foreign exchange revenue and front-office headcount at banks will continue to decrease over the remainder of this year ...
StanChart faces fresh $300m US settlement
August 19th, 2014
Standard Chartered is in talks to pay up to $300m to New York’s top banking regulator to settle allegations it failed to identify suspicious transactions. New York’s Department of Financial Services could announce the settlement as soon as this ...
Ex-Rabobank trader guilty in Libor probe
August 19th, 2014
A former employee of Rabobank on Monday became the second of the Dutch bank’s ex-traders to plead guilty in a criminal plot to manipulate a global financial benchmark used to set rates on trillions of dollars in loans. United ...
New criminal offence proposed to catch tax evaders
August 19th, 2014
People who fail to declare offshore tax liabilities could face prosecution under proposed new laws published for consultation today. HM Revenue & Customs has urged wealthy individuals to come forward and pay what they owe in advance of the ...
Lawmakers criticize Fed’s crisis lending program
August 19th, 2014
Federal Reserve was urged to limit its crisis lending programs for big banks from a bipartisan group of lawmakers. During the crisis, the Fed invoked its emergency lending powers to pump cash into Citigroup, Morgan Stanley and other banks ...
Bank Overseer PwC Faces Penalty and Sidelining of Regulatory Consulting Unit
August 18th, 2014
The giant consulting firm PricewaterhouseCoopers occupies a position of trust on Wall Street, acting as a shadow regulator of sorts that promises the government an impartial look inside the world’s biggest banks. But the firm – hired and paid ...
China Seen Taking Steps to Aid Growth After Credit Plunge
August 14th, 2014
China’s plunge in credit expansion last month and unexpected slowdown in investment spending flashed warnings on growth that investors and economists bet will spur policy makers to expand stimulus. Barclays is forecasting two second-half interest-rate cuts, while Australia & ...
