UBS will pay $1.5bn in penalties for routinely manipulating benchmark interest rates over a six-year period to benefit its own trades, paying bribes to interdealer brokers and colluding with other banks.
Credit Suisse said Tuesday it is cutting 150 jobs in its private banking business in Germany as it tries to bolster profitability amid tough market conditions.
Societe Generale has lost a high-profile lawsuit against a London-based investment banker that could costthe firm up $26m.
Knight Capital Group and GETCO Holding Company today announced they have entered into an agreement for a strategic business combination whereby GETCO and Knight will be combined under a new publicly traded holding company.
Drunken Twitter and Facebook users who post grossly offensive messages online may be less likely to face prosecution if they hit delete and express remorse after they sober up, Keir Starmer, the director of public prosecutions, indicated.
Dominique Strauss-Kahn, the former head of the International Monetary Fund, lost a bid to halt a French investigation into his links to a prostitution ring.
Incoming Bank of England governor Mark Carney will pocket a £250,000 housing allowance, taking his annual income close to £1m a year when he takes the reins next summer, the central bank has revealed.
It's usually the emails that gets 'em.
The Financial Services Authority (FSA) has fined UBS £160m for misconduct relating to the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR). This is the largest fine ever imposed by the FSA.
French Finance Minister Pierre Moscovici is set to submit to the cabinet today a bill designed to force the country’s largest banks to fence off proprietary trading activities in dedicated units.
A new CareerBuilder survey finds workers are having an increasingly hard time separating their professional and personal lives.
Shares in retail giant Amazon soared 18% in after hours trading on Thursday, making it the most valuable retail company in the world, after the company announced an unexpected profit and a sharp rise in sales for its latest quarter.
There are two major questions facing bitcoin: What is it for? And who gets to decide? A bad decision could wreck the technology.