Barclays will cut a total of 14,000 jobs this year, higher than the expected 10-12,000, as chief executive Antony Jenkins continues his shake-up of the bank.
Citigroup’s top investment-grade bond trader and three other traders left the bank amid a slowdown in fixed income that’s hurt revenue at Wall Street’s biggest firms, people familiar with the matter said.
The 2008 financial crisis could be just a precursor to a more severe economic fallout on the horizon, closely followed contrarian investor Marc Faber tells CNBC.
Bank of America’s gaffe on U.S. stress tests has meant “tough consequences” for investors, Chief Executive Officer Brian Moynihan said Wednesday as his staff and directors regrouped to figure out what went wrong.
Barclays Chief Executive Officer Antony Jenkins and Group Finance Director Tushar Morzaria today updated investors on the results of the Group Strategy Review.
Shareholders of UBS on Wednesday backed the board and management despite opposition due to the bank's involvement in various scandals, including a global probe into the largely unregulated $5.3tril-a-day foreign exchange market.
Barclays will cut 7,000 jobs at its investment bank, about a quarter of the total, as CEO Antony Jenkins tries to revive profit by reducing the lender’s dependence on the unit.
Standard Chartered said first-quarter operating profit fell by a 'high single-digit percentage' amid weakness in emerging-market currencies and its financial-markets business.
Stifel Financial has announced that it is acquiring Oriel Securities, the London-based stockbroking and investment banking firm, to build out the Company’s international platform across all of its institutional businesses.
European banks face potential loan losses from energy firms of $27bn, or about 6% of their pretax profit over three years, according to analysts at Bank of America.
A conman posing as a millionaire London trader who defrauded a Dutch shipping company of $113m was sentenced to 14 years in prison by a U.K. court.
As fears grow over the stability of the European banking system, Standard Chartered is being hit by a double whammy in credit markets with investors increasingly worried about the lender’s business in Asia, where it earns most of its revenue.