Bank of America agreed to pay a total of $15.5m in fines to settle charges by U.S. regulators and exchanges that lapses in its Merrill Lynch unit's risk controls disrupted trading in 15 stocks, leading to "mini-flash crashes."
London now has the second most over-valued property market in the world, beaten only by Vancouver in Canada, according to a new “Bubble index” compiled by Swiss bank UBS.
It’s a tough market.
Commerzbank aims to cut around 9,000 jobs in the next few years and will scrap its 2016 dividend as part of efforts to reduce costs in the face of negative interest rates, a source close to the bank's supervisory board said on Tuesday.
Deutsche Bank shares plunged to a new record low today, dropping 7.5 per cent to close at €10.55, prompted by reports in Focus magazine over the weekend that German Chancellor Angela Merkel has ruled out state assistance for the bank.
The U.S. Department of Labor agreed to conduct a review of Wells Fargo requested by lawmakers including Elizabeth Warren, who said the bank may have put undue pressure on employees to meet sales quotas.
A senior former banker at HBOS received a string of bribes over five years – including cash, use of a credit card, luxury holidays and payments for prostitutes – in exchange for agreeing bank loans channelled to ailing business with little or no hope of recovery, a court has heard.
Pimco co-founder Bill Gross won access to some of the firm’s internal records he says will show he was forced to resign two years ago so his former colleagues could divvy up his $200m bonus among themselves.
Wall Street would have to come up with billions of dollars in additional capital in a proposed revamp of the Federal Reserve’s annual stress tests that could also scrap some provisions that lenders have criticized.
A post-Brexit Britain could become “highly attractive” to foreign investors put off by conditions inside the European Union, according to the head of Europe’s largest newspaper publisher.