Morgan Stanley and Goldman Sachs dropped the most in the last 12 months as Europe’s debt crisis reignited and investors speculated that President Barack Obama’s re-election means tighter curbs on banks.
Citigroup has been sued by Sealink Funding Ltd. for damages tied to an investment in $513m worth of residential mortgage-backed securities.
The chief executive of Societe Generale blamed an 86% drop in net profits on accounting rules.
Like card players, the top five banks in global commodities trade have reached the point where they must decide to hold strategy, adapt, or give up and get out.
A survey by management consultants and risk experts Corven interviewed over 30 chief risk officers across the major companies in the financial services sector.
Call me indispensable, call me irreplaceable.....
Interesting to see that Morgan Stanley, its FICC boss, being put in charge of the whole investment.
Kweku Adoboli, the former trader, said after admitting he made unauthorized trades last year he quickly realized his initial story that he had acted alone would fall apart once it was scrutinized.
UBS Investment Bank co-head Carsten Kengeter leaves CEO Sergio Ermotti's top team to lead the winding down of fixed-income activities that are no longer profitable due to stricter capital rules on riskier business introduced after the financial crisis.
China is no stranger to skyscrapers of unusual architectural design and while some of the country's ambitious architectures have drawn flak from locals and authorities, this building is making headlines for a different reason.
Situated at the foot of Switzerland's Alps and along Lake Geneva lies one of the most luxurious-and pricey-cities in the world.
Former IMF chief Dominique Strauss-Kahn, once thought of as a future French president before he was engulfed in s.x scandals, was acquitted of pimping charges Friday in a Lille court.