Deutsche Börse and the London Stock Exchange said they expected to cut costs by €450m (£354m) a year as they sought to press on with their agreed £20bn deal and ward off a potential rival bid from the US.
Bank of America has axed three investment bankers from its Brazilian unit and is in the process of eliminating seven from its brokerage in Chile as part of a series of global cuts, according to people with knowledge of the matter.
Virgin Group empire founder Richard Branson is, if nothing else, willing to take risks.
A former shareholder of Promsberbank, a lender whose license was revoked last year, was arrested in Moscow earlier this month as regulators probe trades handled by Deutsche Bank that may have been used to launder money, according to two people with knowledge of the investigation.
If you were wondering where four days of your life went last year, you now have the answer: London traffic jams.
A few coveted Ferraris helped offset weakness in other models at a classic cars auction at Amelia Island, Florida, at the weekend.
Bank of America has promoted A.J. Murphy to head global capital markets, succeeding Jim Probert, who’s leaving after two years in the job and more than two decades at the firm.
Bank of America’s Merrill Lynch units won a case on appeal to Japan’s highest court against a ruling that they must pay damages to failed consumer lender Takefuji Corp. for their role in a bond transaction.
Increasingly complicated regulation is bulking out the pay packets of those who keep companies on the straight and narrow, according to research shown exclusively to City A.M., but advances in technology could force a shakeup in what the typical role looks like.