UBS was aware of a $3.6bn discrepancy in the trading accounts of alleged rogue trader Kweku Adoboli six weeks before he told the bank about his trading losses, a London court heard Tuesday.
Citigroup’s $4.7bn pretax writedown of its Morgan Stanley Smith Barney stake probably won’t reduce a profit-sharing plan’s award for CEO Vikram Pandit that could total $24m.
Russell Wasendorf Sr., founder of the bankrupt commodities firm Peregrine Financial Group Inc., pleaded guilty to stealing more than $100m from its customers.
Rarely can a movement have been so hastily obituarised as Occupy Wall Street.
Jorgen Sundberg is a social media trainer and consultant. He is Editor of 'The Undercover Recruiter', the #1 recruitment & career blog in the UK.
The City trader accused of fraudulently gambling away £1.4bn of his bank's money had lost £123,000 of his own cash through a spread betting account, a court heard.
A few months ago, the Bank for International Settlements, which acts as a bank for the world’s central banks, warned in its annual report that 'the financial sector needs to recognize losses' and 'adjust balance sheets to accurately reflect the value of assets'. We are starting to get a taste of what that means, and it’s not all bad.
Deutsche Bank has announced the Executive Committee for its integrated Asset & Wealth Management division. Michele Faissola will chair the committee.
Five years on from the start of the financial crisis, being a socially responsible corporate citizen is still not a top priority for many business leaders in financial services, new research from the Economist Intelligence Unit shows.
Even though many suspect Peregrine Financial Group founder Russell Wasendorf Sr. had help pulling off a $200 million fraud, prosecutors are willing to let him plead guilty to reduced charges without saying who, if anyone, helped him.
JPMorgan, HSBC and Credit Agricole will come face to face with the European Union antitrust officials who accused them of rigging the Euribor benchmark at hearings this week.
Millionaires are expected to control 46 percent of the world's personal wealth by 2019, up from 41 percent Monday, suggesting that the wealth gap will continue to widen, according to a new study.
Well, that didn’t last long.