Paul Tucker, deputy governor of the Bank of England, has warned the worst could still be to come for the banking sector as he called for an end to the get-rich-quick culture of the City.
Twenty-two of the 50 biggest banks have announced plans to eliminate at least 1,000 positions each since the start of August 2011, according to data compiled by Bloomberg.
UBS fixed a loophole that former trader Kweku Adoboli allegedly used to conceal unauthorized transactions by giving them long-term settlement dates, the bank’s risk officer said at a London criminal trial.
A senior banker, who says he was fired for being too successful, is taking his $16m lawsuit against France's Societe Generale to the UK's highest court in a case that could re-draft employment law.
New Citi CEO, Michael Corbat sent an introduction email to the company, shortly after Tuesday's resignation of Vikram Pandit. Full text below.
Citigroup directors ousted Chief Executive Officer Vikram Pandit after concluding his mismanagement of operations caused setbacks with regulators and cost credibility with investors, a person with knowledge of the discussions said.
Vikram Pandit denied that he was forced out as Citigroup's CEO, telling CNBC Tuesday that it was his decision to step down after five years at the bank and that he had been thinking about it for awhile.
Here's a few Bloomberg videos on the latest 'Citi Saga'.
Though New York and London lead cumulative scoring, emerging cities, including Beijing and Shanghai, are narrowing the gap within key economic indicators, according to the fifth edition of Cities of Opportunity released last week by PwC and the Partnership for New York City.
Bank of America said third-quarter profit dropped 95% percent on litigation expenses and an accounting charge tied to the firm’s debt.
HSBC said it was 'monitoring the developments' in Greece after the country imposed capital controls and shut banks to avert financial collapse. HSBC’s $6bn of Greek assets is the most among European banks.
Deutsche Bank said co-Chief Executive Officer Anshu Jain didn’t mislead Germany’s central bank during an investigation of Libor rigging.
Bill Gross is here for his favourite doughnut, the cake one with coconut frosting, but he’s not going to get it, not today.