The Federal Reserve's New York branch knew about risks JPMorgan Chase was taking with its massive 'London Whale' derivatives bets four years before they imploded, but it failed to act properly to head them off, the U.S. central bank's inspector general said.
Douglas Flint, the chairman of Europe's biggest bank, says restrictions on pay are hitting banking industry and making it difficult to hire top talent
Former SAC Capital portfolio manager Mathew Martoma lost a bid to remain free while he fights a conviction for perpetrating the most lucrative insider-trading scheme in U.S. history, as a federal judge expressed doubt that his appeal will succeed.
A new Ebola vaccine could be ready to send to West Africa within the next three months, NewLink Genetics Chairman and CEO Charles Link says.
Royal Bank of Scotland has escaped €115m of fines for alerting the European commission’s competition watchdog to two attempts to fix the prices of key interest rates.
'In the new world, pay.... may well have further to adjust'.
Banks must change the way employees are compensated and take other steps to fix a corporate culture that encourages misdeeds or face being broken up, said William C. Dudley, president of the Federal Reserve Bank of New York.
The cost for banks to settle probes into allegations traders rigged foreign-exchange benchmarks could hit as much as $41 billion, Citigroup analysts said.
A former Barclays Plc unit managing director in Latin America sued the company over its pullback from the region, claiming the bank broke a contract with him and violated New York human rights laws for allegedly discriminating against employees of Latin American descent.
Asked if he'd want his old job back, Mohamed El-Erian tells CNBC: "No, I'm really happy with my life."
Credit Suisse’s global head of macro products, David Tait, is leaving the bank as it cuts back businesses tied to interest rates and currencies trading.
Citigroup was sued for fraud by investors and creditors of a bankrupt Mexican oil services firm over claims they were harmed by a loan scheme that also led the bank to cut 2013 profit by $235m and fire at least a dozen people.