Credit Suisse has told some teams in Switzerland to consider taking a leave of absence or a sabbatical, adding to signs that the bank’s Swiss unit is under pressure to meet targets for the year, people with knowledge of the matter said.
UBS has laid off six people as part of a restructuring of its US equity capital markets business, with the goal of improving profitability, people familiar with the matter told IFR.
High-level talks involving the U.K. Treasury and U.S. Justice departments earlier this week aimed to resolve a fine for Royal Bank of Scotland.
A former Credit Suisse wealth manager was found guilty of orchestrating a scheme that resulted in damages of $152 million as he diverted cash from client accounts to cover bad trades in one of the biggest financial crimes in Swiss history.
Bank of America boosted CEO Brian Moynihan’s compensation to $23 million for 2017, a 15 percent increase from a year earlier.
The European Central Bank (ECB) is investigating the way the board of Dutch bank ABN Amro operates after an internal row led to the chairwoman leaving her post, the Dutch finance minister said on Friday.
The Financial Conduct Authority (FCA)'s head Andrew Bailey today said it will not publish a report on the Royal Bank of Scotland global restructuring group (RBS GRG) scandal by next week, as demanded by Nicky Morgan, the head of the influential Treasury Select Committee (TSC), but will share a copy with the committee.
UK shares shed around one per cent today, capping a disappointing week for investors.
A steeper path of interest rate rises over the next year would not be a “great shock” to the economy, the Bank of England’s deputy governor said this morning.
The cuts are said to not be focused on any particular business.
Heavy selling has slashed the market value of the five most valuable tech firms by a combined $437 billion.
The claims did not belong in federal court.
French bank Societe Generale posted an 82 percent fall in quarterly net income, hit by tax-related charges and retail banking restructuring costs.
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The VIX, often called the market's fear index, has been "suspect for at least seven years," says Bart Chilton, former CFTC commissioner.
Goldman had positioned itself for higher volatility and the reflation trade, but that sputtered out
Credit Suisse is defending a controversial financial product it issued that played a role in the staggering market losses last week.