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Big Banks Should Consider Spinoffs: Purcell

The First Corner

Big banks should start considering their shareholders and look at options that might be uncomfortable such as spinning off businesses, Phil Purcell, the former head of Morgan Stanley, told CNBC’s 'Squawk Box' Thursday.

Ex-Stanford Financial CIO Sentenced To 3 Years In Prison

Department Of Justice Logo

Laura Pendergest-Holt, 39, the former chief investment officer of Houston-based Stanford Financial Group, was sentenced to 36 months in prison for her role in obstructing a U.S. Securities and Exchange Commission (SEC) investigation into Stanford International Bank (SIB), the Antiguan offshore bank owned by convicted financier Robert Allen Stanford.

Black Wednesday 20 Years On: How The Day Unfolded

The Titanic

Barclays staff were warned on Thursday that the size of their bonuses will be linked to the way they do business – not just the revenues they generate – under a new approach being developed by the new chief executive Antony Jenkins.

HBOS Report by FSA to be Overseen by Assessors

Report Tick Boxes

Independent advisers appointed by MPs will assess whether the Financial Services Authority produces a fair and accurate report into what went wrong at HBOS, according to Andrew Tyrie, chairman of the Treasury select committee



China Flag

China April industrial output up 5.9% on year

China's Shanghai Composite index trimmed losses slightly to move back into neutral territory, while the Hang Seng index traded flat following the data.. China's central bank this week cut...

Hot Air Balloon

First law firm to float on the UK stock market

U.K. law firm Gateley is poised to be the first British legal practice to list its shares in London after it announced plans on Tuesday for a flotation that would value the company at £130 million-£140 million ($203.45 million-$219.16 million).