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Euro banks face 'capital crunch': PwC

Gold Bar And Coins

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).

Citigroup seeks dismissal of 'legal tourism' case

Citi Building Sign

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.

Investigators visit UBS Paris HQ

Tax & Business Calculator

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.



Courtroom Gavel

Trader convicted of spoofing

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.