Societe Generale’s Russian consumer-banking unit, OAO Rosbank (ROSB), is cutting hundreds of back office jobs as it continues cost-reduction efforts, two people with knowledge of the matter said.
Speculation about a government sell-off of Royal Bank of Scotland and Lloyds Banking Group was escalating on Tuesday night amid reports that the International Monetary Fund is urging the Treasury to accelerate its disposal of the £65bn stakes in the two bailed-out banks.
JPMorgan Chase Chairman and CEO Jamie Dimon on Tuesday won a crucial shareholder vote rejecting a proposal to strip him of his chairman title, a big victory for the brash leader of the country's largest bank.
The incoming governor of the Bank of England has warned Europe it must make "sustained and significant reforms" if it is to avoid a Japanese-style lost decade caused by austerity measures.
A proposal to cleave the roles of chairman and CEO at banking giant JPMorgan Chase was defeated in a narrow shareholder vote on Tuesday, strengthening the hand of the bank's embattled chief, Jamie Dimon.
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The Asian prime brokerage unit of Credit Suisse has replaced Morgan Stanley as the second largest firm servicing the region's $148bn hedge funds industry, a survey showed.
Settlement talks between SAC Capital and the federal government, which could have led to a pact preventing criminal charges against founder Steven Cohen, are off after Cohen was issued a subpoena by prosecutors last week.
Enron Corp.’s 2001 collapse revealed the extent of its manipulation of spot gas prices. Twelve years later, European Union regulators may discover energy traders never learned the lessons of the scandal.
A private hearing is to take place in December in which the Serious Fraud Office (SFO) is thought to be pressing ahead with seeking legal documents from Barclays as part of its ongoing investigation into the bank’s 2008 rescue fundraising.
Experts are beginning to warn of the dire financial impact across the mining and metals space if Glencore, one of the world's largest resource companies, is unable to control its skyrocketing debt load.
Billionaire investor Carl Icahn thinks stocks could go down "a lot more" as the market comes to grips with bubbles exacerbated by the Fed's zero interest rate policy.