Opposition politicians and tax campaigners have expressed outrage after it emerged that some of the biggest and most profitable investment banks in the City of London paid little or no corporation tax last year.
Here's a list of where it's thought likely job cuts are on the way/to fall in the future.
Would you have passed the test ?
Credit Suisse has filed an arbitration claim with the Financial Industry Regulatory Authority alleging that a unit of UBS unfairly poached staff from its U.S. private-banking business over the past several months, the Wall Street Journal reported, citing a person familiar with the matter.
Deutsche Bank has identified as much as $4bn in suspicious transactions related to its Russian operations, in addition to $6bn in so-called mirror trades it is examining, said several people with knowledge of the bank’s review of the matter.
Goldman Sachs named three senior bankers to its management committee as the firm replaced dealmakers who’ve left its top leadership group.
JPMorgan agreed to pay $150m to settle investor claims that it hid from them as much as $6.2bn in losses caused by a trader dubbed the London Whale.
A former Royal Bank of Scotland bond trader pleaded guilty to lying to customers in order to get them to pay higher prices as the U.S. continues probing tactics used in the market for complex debt -- undaunted by an appeals court’s rejection of a key conviction.
UBS has beefed up compliance for its Australian business after the country’s securities regulator ruled the bank’s controls covering its research department were inadequate.
Regulation, anaemic economic growth and technology changes will force banks across Europe to find more savings in 2016, with jobs likely to be the biggest casualty, according to investors and analysts.
Jurors found a former Perella Weinberg Partners banker guilty in a major victory for prosecutors worried a recent appeals court ruling had tied their hands in fighting insider trading.
Some of Australia's major banks revealed Thursday they are among 17 banks being sued in the US for alleged rate rigging.
In a recent interview with Y Combinator, the Facebook co-founder and CEO offered tips for aspiring entrepreneurs.