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BofA and UBS reach new swaps settlement with Detroit

Detroit Sky Line Leocap Sxc Hu

Hoping the third time's the charm, the bankrupt city of Detroit says it has reached a tentative, $85 million deal to settle so-called "swaps" contracts with UBS and Bank of America Merrill Lynch, after previous agreements were deemed too expensive.

Bankers to get EU bonus cap reprieve

Dunce Cap Hat

Bankers who earn more than $1.4m won the chance of a reprieve from European Union bonus curbs as regulators published a blueprint to implement rules on rewards for irresponsible risk-taking.

Citigroup's Mexico worries grow

Mexico Flag

A headache is growing for Citigroup as a banking affiliate involved in money transfers across the Mexican border has become ensnared in a criminal investigation.



Goldman Sachs Blink

Goldman top dog (again)

As iconic brands are snapped up and corporations merged and swallowed in a record-breaking whirl of deals, there has been one constant: Goldman Sachs.

RBS building

RBS CEO says investment bank restructuring 'well advanced'

Royal Bank of Scotland CEO Ross McEwan said the restructuring of the investment bank is 'very well advanced' and it will return to profit within four years, as he continues to shrink the division’s global operations to focus on U.K. and western European clients.

Wells Fargo Logo

Wells Fargo to move securities New York HQ

Wells Fargo is buying about 500,000 square feet of office space at 30 Hudson Yards and plans to relocate the New York headquarters of its securities unit to the skyscraper, which is under construction on Manhattan’s far west side.