Legal & General Investment Management (LGIM), the insurance arm of Legal & General, has announced that it has cut the value of its £2.3 billion U.K. property fund by a further 10 percent. The company had earlier made a 5 percent valuation cut as a cautious move in the current market environment.
A former Rabobank Groep trader arrested last year in Australia will plead guilty to U.S. charges that he schemed to manipulate benchmark interest rates, his lawyer said.
Observations, thoughts, concepts from the top table.
A BNP Paribas director fired during a probe into foreign-exchange market manipulation is seeking more than $6.6m compensation from his former employer, saying he’ll work until he’s 80 years old.
French may well be the language of love for London’s worried bankers, after France's Prime Minister yesterday promised more favourable tax terms for expats.
Goldman Sachs executive Andrea Vella said the relationship between one of the bank’s employees and the relative of a Libyan Investment Authority official wasn’t appropriate and he would have been worried had he known about it.
A former Barclays executive said he felt "uncomfortable" and "awkwardness” having to suspend and eventually fire traders at the bank amid a probe into possible foreign-exchange manipulation.
Britain’s vote to leave the EU has sent further shock waves through financial markets, with three more property funds suspended, the pound plunging and share prices falling amid fresh uncertainty about the economic impact of the decision to leave the EU.
Uncertainty sparked by the Brexit vote is causing companies around the country to put a freeze on stock market flotations and attempted takeovers, according to one of the leading advisers in the field.
J.P. Morgan and the Education Endowment Foundation (EEF) will launch a new £5 million initiative to find effective programmes that offer young people greater access to economic opportunity. This effort aims to improve their attainment in Mathematics and English at GCSE / Level 2, and provide a clearer link between learning and employment and improving their ability to get on effective career pathways.
Warren Buffett, the biggest investor in Wells Fargo, said it’ll be more than a month before he publicly discusses the bank’s phantom-account scandal.
Bank of America and a former managing director agreed to settle a lawsuit in which she accused the institution of being a "bros club" that favoured male employees.
Julius Baer said Asia may overtake Europe as its biggest revenue-generating region, as the wealth manager steps up hiring in Hong Kong and Singapore.