UBS's French unit has boosted revenue by 10% in the first half as it returns to profit, and is cooperating with legal authorities who penalized the bank for failing to prevent tax fraud, according to its top executive.
Paula Ramada, who has a doctorate in economics from the Massachusetts Institute of Technology, says she can calculate how much investors lost from banks’ alleged rigging of benchmark interest rates. Now all she needs is funding, a team of analysts and weeks to run the numbers.
The American businessman who said he was being held hostage by his factory employees in China over a pay dispute has been released.
Former Enron Chief Financial Officer Andy Fastow-who developed many of the structured finance transactions that are often blamed for the energy giant's epic 2001 collapse-says the bankruptcy could have been avoided.
Finance ministers from the European Union reached a deal in the early hours of Thursday to set up rules about who would have to foot the bill for any future bank bailouts to avoid costs to tax payers.
Britain and other member states have agreed with the European commission on new regulations that would see lifetime bans for traders and fines of up to 15% of their annual turnover for companies if they are caught rigging markets.
London's position as an international destination for wealthy property hunters and workers from far and wide is well known.
While nearly a third of Britons questioned in a poll said they had heard of Bitcoin, many of those who are aware of it (38%) think it will be the currency of the future.
Dick Fuld, Sandy Weill, Jimmy Cayne, Bernie Madoff, Jamie Dimon, John Mack, Hank Paulson, Bob Diamond. Some crackers here.
Boston - A former personal banker with Bank of America’s Reading branch was indicted Monday for allegedly running a Ponzi-like scheme, luring friends and family into investing millions into fake accounts by promising high returns and eventually stealing from elderly bank customers to pay the investors, according to Attorney General Martha Coakley.
The British day trader accused of contributing to the 2010 flash crash enlisted a computer programmer to help him work out a system to manipulate stock prices, e-mailing pleas for help perfecting his 'spoofing' efforts, U.S. prosecutors said in an indictment.
Global investment banks may see revenue drop 19% in the third quarter, lowering earnings per shares across the industry, as a surge in volatility caused by turmoil in China recedes, according to analysts at JPMorgan.
A former Lloyds Banking Group trader sued the bank for unfair dismissal after he was fired in the wake of the company’s fines for Libor manipulation.