It's China, what did you expect ?
The G20 tax reform proposals have been heralded by the Organisation for Economic Co-operation and Development as a "once-in-a-century" opportunity to fix the creaking network of hundreds of bilateral tax treaties that have been laid down over almost 100 years, smoothing the way for international trade.
Eurasian Natural Resources Corporation, the FTSE 100 miner being investigated by the Serious Fraud Office over claims of fraud, bribery and corruption in Africa, is suing Sir Paul Judge, a City grandee and former director, for allegedly leaking information to the media.
The Goldman Sachs employee who ran the firm’s mortgage correlation trading desk testified that Fabrice Tourre failed to tell investors about the role of Paulson & Co. in the deal at the center of the U.S. Securities and Exchange Commission’s fraud case against him.
Credit Suisse was sued for more than $350m by entities of Highland Capital Management LP who claim it marketed loans for high-end residential communities including the Yellowstone Club in Montana based on unreasonable and deceptive appraisals.
Morgan Stanley and Goldman Sachs led Wall Street banks in posting a collective 42% increase in equities-trading revenue in the second quarter, the largest jump in more than three years.
Strongest YTD for Latin America ECM since 2008
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Private equity company 3i, which owns companies such as fashion chain Hobbs, has pledged to change its pay policies after shareholders staged a rebellion at the annual general meeting.
Morgan Stanley set aside $3.66bn to pay employees at its investment-banking and trading division in the first half, 1.4% less than a year earlier.
HSBC CEO Stuart Gulliver said recent moves by Britain's new government reflected a more positive mood towards the financial sector, as the bank continues to weigh where it should be headquartered.
Morgan Stanley delivered quarterly earnings that fell well short of analysts' expectations on Monday, as investors fled the bond, currency and commodity markets amid uncertainty about the timing of a U.S. interest rate hike and concerns about China's cooling economy.
CNBC talked with former super-agent Molly Fletcher about the mistakes people make when negotiating for a job.