Goldman Sachs has told 98 employees in New York that their jobs are being eliminated, bringing the number of dismissals disclosed to state officials this year to at least 353.
Deutsche Bank has hired James Nessel to run US high-yield trading, according to sources.
A high-frequency trading firm set up by two hedge funds sued Merrill Lynch because a tax-arbitrage strategy linked to French stocks didn’t turn out to be as profitable as expected.
A former Credit Suisse banker pleaded guilty to helping Americans evade taxes, admitting his role after spending the past five years as a fugitive.
A Libyan official who helped review billion-dollar investments with Goldman Sachs said he had never heard of the bank or the word derivative before joining the country’s $60bn sovereign wealth fund in 2007.
'This will be the most consequential thing postwar that we’ve ever seen'.
The consequences of a British vote to leave the European Union (EU) would parallel the collapse of U.S. investment bank Lehman Brothers, an event that triggered the global financial crisis, warned Alexander Stubb, Finland's former Prime Minister.
A former Deutsche Bank trader has pleaded guilty to Libor-rigging related offences, court records have revealed.
Major banks are preparing for two days of unprecedented uncertainty by stuffing cash machines full of money, placing senior bankers on high alert in emergency war rooms around the City and switching off computer-driven “black box” trading systems to avoid incurring huge losses in violent swings in shares, bonds and currency markets.
Nearly £350bn could be wiped off the value of Britain’s top companies in the event of a vote for the UK to leave the European Union, analysts at UBS have warned.