Barclays finance director Chris Lucas is under investigation by the Financial Services Authority in relation to funds raised in 2008, the embattled bank has revealed .
One of the City's biggest fund managers, Fidelity Worldwide Investment, has written to 450 major companies in the UK and Europe to call for a radical overhaul of pay polices, including requiring directors to hold shares for the duration of their careers.
Strongest Week for Energy M&A since Oct'11
The London Regatta Centre, Royal Docks - 6th September, 6pm.
Now this might come as a surprise.
Mike Mayo, analyst at Credit Agricole Securities, spoke with Bloomberg TV’s Betty Liu and Adam Johnson Wednesday about Sandy Weill’s comments and said that Morgan Stanley’s stock could be worth '$16 to $32' a share in a breakup (it's currently trading around $13).
The likelihood of intense political and regulatory scrutiny on the new chairman and chief executive of Barclays means both must be untainted by its reputational collapse and are likely to be recruited externally, possibly from Canada or Australia.
Phil Gramm, the former U.S. senator who helped write the 1999 law that enabled the creation of financial giants such as Citigroup and Bank of America, said his legislation didn’t make the system any riskier.
The United States Attorney for the Southern District of New York has announced that John Kinnucan, the President of Broadband Research, pled guilty today to conspiracy and securities fraud charges in connection with his participation in an insider trading scheme. He pled guilty before U.S. District Judge Deborah A. Batts.
Citigroup founder Sandy Weill came out Wednesday and suggested that, given the risk to taxpayers, big U.S banks should be broken up. And all over the world, governments, regulators and stockholders are now engaging in a similar debate. But could this big bank be the first to be split up ?
The standoff between Greece and its creditors has spawned another bit of rivalry: the battle among analysts to coin the latest buzzword for the painfully protracted drama.
Nepal's earthquake damage will put it among the most expensive earthquakes in recent history relative to a country's economic size.
Whatever one quarter’s GDP figures show when they are released on Tuesday, the next government should brace itself for a hard landing, according to an economics thinktank.