"Monetary policy is thwarting goals to strengthen the economy and to make banks safer by now," John Cryan says.
The US has been accused of “behaving like a tax haven”, in an escalating war of words between Washington and Brussels over the European commission’s anti-trust cases against Apple, Amazon and Starbucks.
If you're not succeeding, it may just be that you're not failing enough.
American banks spent the second quarter crying all the way to the, well, bank.
If money talks, then one of the things it has been saying this summer is that investors are no longer interested in hedge funds. Investors withdrew $25.2bn from hedge funds in July, according to eVestments. This is the largest monthly redemption since February 2009, when investors redeemed $28.2bn.
Goldman Sachs told state regulators it plans to cut 15 jobs in New York before the end of this year.
Credit Suisse’s profitability targets for the Swiss unit, earmarked for a partial initial public offering in 2017, may be too ambitious, according to the heads of some of Switzerland’s largest consumer banks.
Singapore’s private banks are coming under scrutiny for earning bonuses by selling risky debt, as the city sees an unprecedented wave of defaults. The central bank says an industry group is reviewing the practice.
Hong Kong’s securities regulator fined a Morgan Stanley unit $2.4m over internal control failures.
More than 1m cars were built in the UK in the first seven months of this year, the biggest number for more than a decade.
Goldman Sachs hired exchange owner Nasdaq to run its Sigma X stock-trading system, according to two people familiar with the matter, outsourcing day-to-day operations of its dark pool following an industrywide regulatory crackdown and amid escalating costs.
Citigroup disclosed a new government probe involving the industry’s trading and clearing of interest-rate swaps five months after paying $425m to resolve claims that it attempted to rig derivatives markets.
The last 30 days have seen more than a fifth of year-to-date deal value for announced U.S. M&A, according to S&P Global Market Intelligence.