Convicted UBS trader Kweku Adoboli asked a British appeals court to overturn his seven-year prison sentence for causing a $2.3bn loss through unauthorized trades.
As the European Union moves to cap bankers’ bonuses at twice fixed pay, the Netherlands is considering even tougher measures amid a public backlash against the industry.
HSBC and Standard Chartered will report a reduction in their bonus pools, reflecting separate settlements with U.S. authorities over probes into money laundering and sanctions violations, Sky News reported on Sunday.
One of the lesser-known casualties of the financial crisis was the disappearance of Goldman Sachs's partner dinners - the lavish black-tie galas that drew all the members of Goldman's elite partnership together for a night of revelry.
Banca Monte dei Paschi di Siena SpA, which yesterday received a $5.3bn government bailout, sued Deutsche Bank and Nomura over two derivatives that soured.
Europe's biggest bank HSBC reported a full-year pre-tax profit of $20.65 billion, much lower than a forecast of $22.7 billion, according to a Reuters poll of analysts.
The former JPMorgan trader known as the 'London Whale' was not responsible for Lehman Brothers' bankruptcy and should not be dragged into an $8.6bn lawsuit accusing the largest U.S. bank of causing it, JPMorgan said.
When a 32-year-old dotcom multimillionaire known for his "goofball" approach to business is fired, the chances are he is not going to slip out the back door, hanging his head in shame.
One of London's most successful hedge fund managers, Patrick Degorce, has been forced to part with millions of pounds in tax after Revenue and Customs persuaded the courts to throw out a complex film financing investment which sought to shelter earnings of almost £19m.
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The new boss of Standard Chartered has halved its dividend and attempted to quash speculation that the emerging markets focused bank is to move its headquarters out of London.
Bank of America, which overruled a shareholder vote mandating an independent chairman, has the worst corporate governance of any big bank since Citigroup before the financial crisis, CLSA analyst Mike Mayo said.
The journey that led Tom Hayes to a drab courthouse on the banks of the River Thames started 6,000 miles away on a buzzing trading floor in Tokyo’s financial district in the summer of 2006.