UBS is scaling back corporate advisory and investment banking services for ultra-rich clients in some key emerging market countries to reduce overlaps with other departments, three sources familiar with the plan said.
European banks will face a "substantial capital crunch" in 2014 thanks to new industry regulations, with capital shortfalls expected to be in the region of 280 billion euros ($380 billion), according to PricewaterhouseCoopers (PwC).
Ernst & Young agreed to pay investors $99m to settle litigation over its auditing of the bankrupt Lehman Brothers, according to a filing in federal court in Manhattan.
UBS will combine its foreign exchange, rates and credit trading into one unit, according to an internal memo to staff.
British financier Guy Hands is engaging in 'legal tourism' by pursuing a U.S. lawsuit accusing Citigroup bankers of defrauding him into overpaying for music company EMI Group, and his case should be dismissed because it does not belong in the United States, the bank said on Wednesday.
French judicial authorities probing bank UBS over allegations it illegally sold products designed to avoid French taxes visited the bank's Paris headquarters on Wednesday, a UBS spokesman said.
Deutsche Bank has exited the Russian fund management business, selling Deutsche UFG Capital Management two years after buying it.
Buried somewhere under four feet of mud and rubbish, in the Docksway landfill site near Newport, Wales, in a space about the size of a football pitch is a computer hard drive worth more than £4m.
Royal Bank of Scotland's new boss admitted on Wednesday night that the reputation of the bailed-out institution has been seriously damaged by allegations that it is deliberately wrecking small businesses in pursuit of profit.
The income gender gap can widen with age, and some believe one reason is that women don't always ask for more money. But that's not always the case.
Mergers and acquisitions have hit $4 trillion this year, on track for a record annual deal value - and Goldman Sachs is the big winner so far.
BlackRock has agreed to purchase an $87bn money-market fund business from Bank of America as it builds scale in an industry grappling with new regulations.
A jury on Tuesday convicted high-frequency trader Michael Coscia of commodities fraud and 'spoofing', in the U.S. government's first criminal prosecution of the banned trading practice.