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.
Wall Street is in the biggest transition since the 1933 Glass-Steagall Act, and Morgan Stanley has put a strategy in place that's working, but the full results are not there yet, Chairman and CEO James Gorman said on CNBC's " Squawk Box " on Wednesday from the World Economic Forum in Davos, Switzerland.
Warren Buffett and Dan Gilbert, founder of Quicken Loans, are teaming-up to offer $1 billion for the perfect NCAA March Madness bracket.
Up to 1,000 job losses are expected to be announced at Lloyds Banking Group in the latest attempt by the bailed-out bank to cut costs and bolster profitability.
The travel industry is facing the greatest turmoil in 30 years because of the recent series of incidents capped by the terrorist attacks on Paris, said Thomas Cook chief executive Peter Fankhauser.
Banking is reaching an “Uber moment” in which technological advances will lead to hundreds of branch closures and a possible halving of the number of staff employed in the sector, the former chief executive of Barclays has warned.