UBS was sued for wrongful dismissal by two former traders in Singapore who claimed they were fired in a bid by the bank to cover up its role in allegedly manipulating key reference rates.
The UK financial sector was dealt a withering blow on Wednesday night when the European Union agreed on moves to slash the bonuses that may be paid to bankers, defeating strong Treasury opposition to the new rules.
Barclays has clawed back up to £300m in bonuses paid to staff, after being fined for Libor-rigging and paying out millions for the mis-selling of payment protection insurance and interest rate swaps.
Royal Bank of Scotland has reported its fifth annual loss since it was rescued by the government in 2008.
Bank stability is an ever-more pressing concern for the world’s companies and investors.
As Thomas Hughes prepared to run Gleacher & Co in 2011, he vowed to cut costs and transform the brokerage into a 'substantial force'. Now the stock is down 66% as he grapples with losses and worker defections.
Carlyle Group co-founder David Rubenstein spoke with Bloomberg TV's Cristina Alesci in Berlin, Germany Monday. Rubenstein said that buyout firms will put "much more" money to work this year as deals pick up.
Morgan Stanley lost money in its trading businesses on 37 days last year, down from 64 days in 2011 and the fewest since 2007.
BlueCrest Capital Management LLP is in talks to hire former Nomura executives Jonathan Larkin and Christian Dalban, according to a person with knowledge of the matter.
A company’s reputation is precious.
The global economy is on course for muted growth this year and next as it faces risks from a slowdown in China, the prospect of higher interest rates in the US and the lingering threat of a Greek exit from the euro, according to the latest forecasts from Moody’s.
The UK wage gap is growing, a report by Britain's income watchdog shows.