Search Results for: Barclays Bank
European banks stashing billions in tax havens
March 27th, 2017
Europe’s largest banks are draining public coffers by stashing billions of profits offshore. A 52-page report, by international aid agency Oxfam out on Monday (27 March), estimates €25 billion of banker money ended up in tax havens in 2015. ...
European v US investment banks: Tectonic shifts
February 22nd, 2017
Much of the sector is in dire straits – partly because of previous efforts to compete globally. As investment banks, the Europeans are not even winning on their home turf. JPMorgan’s investment-banking revenue market share for Europe, Middle East ...
Citibank N.A. settles for being part of forex trading cartel
February 21st, 2017
Today, the Competition Commission has filed with the Competition Tribunal a settlement agreement reached with Citibank N.A. for being part of the forex trading cartel. The Commission found that from at least 2007, Citibank N.A. and its competitors had ...
Former director at Barclays gets prison in a U.S.
January 12th, 2017
A former director at Barclays Plc was sentenced on Wednesday to five months in a U.S. prison for repeatedly tipping off a friend who worked as a plumber to impending mergers underway at the bank so that the friend ...
Deutsche Bank Reaches $7.2 Billion Settlement Over Toxic Securities
December 23rd, 2016
The Obama administration scrambled to resolve its remaining crisis-era megabank mortgage cases, striking a $7.2 billion settlement Thursday with Deutsche Bank AG over toxic securities while separately filing a lawsuit against Barclays PLC alleging more than $30 billion in ...
COMCO fines banks for participating in the EURIBOR cartel
December 21st, 2016
The Competition Commission (COMCO) has closed its investigation against certain banks related to interest rate derivatives in euro with an amicable settlement and imposes total fines of approximately CHF 45.3 million. COMCO reached the conclusion that between September 2005 ...
Banking Giants Set to Invest in R3-Rival & Blockchain Startup Axoni
December 20th, 2016
US banking giants Goldman Sachs and JPMorgan Chase are leading a number of other financial institutions to invest in blockchain startup Axoni, a report has revealed. According to Reuters, the banks are looking to invest between $15 to $20 million in ...
European shares move towards 11-month high on stronger banks
December 15th, 2016
STOXX Europe 600 index up 0.2 pct Banks advance on Fed’s move, hints Precious metals miners among top fallers European shares rose on Thursday, helped by gains in global banks following the U.S. Federal Reserve’s interest rate hike overnight, ...
Three major Banks fined €485 million for Euribor fix cartel
December 7th, 2016
The European Commission has fined Crédit Agricole, HSBC and JPMorgan Chase, a total of € 485 million for participating in a cartel in euro interest rate derivatives. The banks colluded on euro interest rate derivative pricing elements, and exchanged ...
Alibaba Financial Affiliate Seals Bank Deals for Alipay Expansion in Europe
December 7th, 2016
Alibaba Group Holding Ltd.’s financial affiliate said it would collaborate with three banks and a payments company in Europe as the Chinese company seeks to expand its presence there. Ant Financial Services Group, which operates the Alipay online-payments platform, ...