The European Union has suffered a downgrade of its long-term credit rating following the UK’s Brexit vote last week.
'A perfect storm of challenges'.
A perfect storm.
Credit Suisse’s Tidjane Thiam is the "right man" to lead the lender even though the bank has lost more than half of its market value since he took over, Chairman Urs Rohner said.
Barclays has already scrapped its Brexit crisis plans as the situation is much less severe than bosses had previously feared.
JPMorgan is of two minds about poaching brokers: It can hire whomever it wants from competitors, but many of its own brokers are off-limits.
A former Barclays currency trader has sued the bank for unfair dismissal and whistle-blowing after he was suspended amid a probe into potential foreign-exchange manipulation.
Citadel Securities says it traded record currency volume last week after the U.K.’s Brexit vote sent shock waves through financial markets. The company expects more volatility to come.
Canadian Imperial Bank of Commerce said it will buy PrivateBancorp in a $3.8bn cash-and-share deal, its biggest ever acquisition and a long-awaited expansion in U.S wealth management.
The Brexit vote was a negative shock but the tragedy no longer looks like a 'fait accompli,' George Soros said in a speech at the European Parliament on Thursday, and it has created "positive momentum for a stronger and better Europe".
London's financial industry woke up this morning to a fresh warning that Brexit could cap the size of the sector in the City.
Cooperman says the SEC charges are "without merit" and he plans to fight them.
Truffle Capital, a leading European venture capital firm focused on young innovative companies announces the appointment of Olga Koulechova as Partner and Head of Business Development.