Sir Andrew Large, a former Deputy Governor of the Bank of England, said the way Royal Bank of Scotland runs its controversial global restructuring group is 'flawed'
UBS and JPMorgan are among at least four banks in talks to settle a third European Union probe into derivatives linked to benchmark rates such as Libor, according to three people familiar with the case.
The Securities and Exchange Commission has announced that a former Oppenheimer & Co. portfolio manager has agreed to be barred from the securities industry and pay a $100,000 penalty for making misrepresentations about the valuation of a fund consisting of other private equity funds.
The names of the U.S. and European banks at the center of a new interest rate-rigging probe will soon be named, Joaquin Almunia, the European Commission's vice-president and competition commissioner told CNBC.
Regulators are looking at Warren Buffett's Berkshire Hathaway to see if its failure would threaten financial stability, according to Bloomberg.
BP CEO Bob Dudley has denied the energy giant was in talks with Iran, two days after an international deal took effect which could see oil sanctions lifted on the country.
Interest rate rises would tip millions of already-precarious households into financial disaster, according to economists, who warn it would cost the average family nearly £3,000 a year in extra mortgage payments if rates returned to levels that were typical before the credit crunch.
Antony Jenkins, the boss of Barclays, warned yesterday that there would be another financial crisis once the current crop of bankers, who bore the scars of 2008, had retired or died. "I don't think we're going to have another crisis like this in the next five years, but we will have another problem when all the people like us … have retired or died."
People will no longer earn more than peers in other industries simply because they work in finance.
Convicted fraudster Bernard Madoff is back in prison after being hospitalized for a heart attack last month, CNBC has learned.
The Federation of Small Businesses has criticised Debenhams after it emerged that the department stores chain was asking for discounts in return for receiving earlier payments.
Monday’s $191.5 billion combination of Pfizer and Allergan pushes worldwide announced M&A to $4.2 trillion, surpassing the all-time annual record for global deal making set in 2007.