Banks must make deeper and more sweeping cost reductions if they want to restore profitability levels that are acceptable to investors, McKinsey & Co. said in an annual review of the industry.
U.S. Federal authorities are using taped phone conversations to build criminal cases related to the multibillion-dollar trading loss at JPMorgan Chase, focusing on calls in which employees openly discussed how to value the troubled bets in a favorable way.
By Madeleine Thomson, Head of Employment Law, Hamlins LLP
Facebook has been accused of taking the British taxpayer for a ride after experts suggested the company had depressed sales figures and that the website's average UK employee earned more last year than the whole social media network paid the exchequer.
The head of the International Monetary Fund has called on governments to co-operate to heal a fractured global economy or risk a further slowdown in economic growth.
Here's what happens when a wedding party goes tragically wrong. Read (and see the video below) what happened at the celebrations last weekend, following the wedding between a financial services manager and her husband, who is said to work in HR at Credit Suisse Asset Management.
Morgan Stanley and Mitsubishi UFJ Financial Group’s chief executive officers will meet this week in Tokyo to discuss deepening their partnership, said two people with knowledge of the matter.
JPMorgan Chase's Chief Financial Officer Douglas Braunstein may step down within the next couple of quarters and take on another post within the company, CNBC has learnt, according to someone familiar with Braunstein's plans.
CNBC has a sideshow detailing the countries (and Hong Kong) with the most billionaires.
David Siegel, the owner of Westgate Resorts, sent a surprising email to his employees this week.
The FBI agent who oversaw the Bernard Madoff investigation and helped pioneer the use of wiretaps that yielded dozens of insider-trading convictions is now working for Goldman Sachs.
"Billionaires are different," a report on billionaire personality traits said, citing three personality traits that are "essential" for success.
UBS is shutting its Australian wealth-management unit amid competition from local brokerages.