The chief executive of Royal Bank of Scotland (RBS) has said he will hand back £1m of his annual pay package.
On a normal balance sheet, there’s a profit and loss account.
JPMorgan, the world’s biggest investment bank, lowered its target for returns at that business and plans to cut $2.8bn in costs because higher capital requirements are crimping profit.
HSBC is suffering “horrible reputational damage” as a result of the exposure of the systematic aiding of tax avoidance in its Swiss subsidiary, the bank’s chairman has conceded before MPs.
Deutsche Bank has hired Steven F. Reich, a former official at the U.S. Department of Justice and attorney for former President Bill Clinton, as its general counsel for the Americas as the firm seeks to resolve legal probes.
The nascent industry of bitcoin derivatives got a high-profile boost on Wednesday, as a London-based trading platform was launched by ex-employees of some of the world's leading investment banks.
Two more suspended at RBS.
Wall Street loves a murder metaphor.
In his autobiography Rogue Trader, Nick Leeson said the ethos at Barings was simple: ‘We were all driven to make profits, profits, and more profits ... I was the rising star.’
Sitting at her desk at Goldman Sachs, Julissa Arce is doing her best to keep it together. It’s September 2007. Her father is dying in Taxco de Alarcón, a small and hilly city in Mexico, and she has just hung up after a call from her sister with bad news.
This side of Berkshire Hathaway CEO and chairman Warren Buffett, no American business leader stuffs his annual letters to shareholders more full of business wisdom than Jeff Bezos, the now 52-year old wunderkind founder and CEO of Amazon.com .
The $3.2 trillion hedge fund industry, reeling from its worst quarter for withdrawals since the financial crisis, is bracing for more pain.
UBS urged a U.S. judge on Friday to reject claims that it should be held liable for $2 billion (£1.4 billion) in losses that investors incurred on mortgage-backed securities issued before the collapse of the U.S. housing market.