Royal Bank of Scotland is preparing to enter talks with regulators to settle Libor-rigging claims, the boss of the bailed out bank said on Friday, as it admitted the cost of the payment protection insurance (PPI) scandal had now reached £1.7bn.
Dow Jones Newswires says that UBS may, in the end, cut as many as 14,000 jobs, Swiss weekly Bilanz reports in an advance copy of its Friday edition, citing an unnamed source at the firm.
The Financial Stability Board has announced the updated list of 'global systemically important financial institutions'.
Reuters reports that Royal Bank of Scotland said it may face 'material fines' in relation to how Libor and other interest rates were set after talks with regulators which it expects to begin soon.
Deutsche Bank would be required to hold more capital and Bank of America’s burden stands to be reduced as global regulators shuffled the competitive balance among the world’s biggest banks.
Royal Bank of Scotland swung into a third- quarter loss after setting aside $644m more to compensate clients wrongly sold loan insurance.
The chairman of a parliamentary committee has accused the Bank of England of "defective governance" after it published three reports on the financial crisis that he said failed to tackle how well the central bank performed.
Sad to report....
A productive post ?
European victims of Bernard L. Madoff’s Ponzi scheme can’t directly sue custodian banks such as UBS, Luxembourg’s highest court said.
Rolls-Royce’s new chief executive, Warren East, has been forced to issue a profit warning on his second day in the job at the engine maker.
A guide to the next big turning points (that can already be predicted) in the rapidly unfolding crisis in Greece.