The Financial Services Authority (FSA) has issued its largest ever retail fine of £10.5m to HSBC because of inappropriate investment advice provided by one of its subsidiaries, NHFA Limited (NHFA) to elderly customers.
The longer the economic crisis goes on, the less credible sticking plaster solutions become.
J.P. Morgan announced last week that David Mayhew, Chairman of J.P. Morgan Cazenove, has been named a Vice Chairman of the global Investment Bank.
Here is a quick look at other business stories hitting the headlines.
ICAP has announced that it has appointed Gary Pettit to the new position of Global Head of Financial Futures and Options.
Here's a few links to some interesting Bloomberg, CNBC, New York Times and Reuters stories currently doing the rounds.
Five national banks have been sued in connection with their roles in allegedly pursuing illegal foreclosures on properties in Massachusetts as well as deceptive loan servicing, Attorney General Martha Coakley announced Thursay.
Here's the latest Thomson Reuters 'Investment Banking Weekly Scorecard'.
Macquarie Group CEO Nicholas Moore’s reshaping of the investment bank is winning plaudits from analysts who say the overhaul will lead to more predictable profits.
U.S. courier delivery company FedEx has highlighted its intentions to expand globally with the purchase of Dutch-based rival TNT Express on Tuesday morning.
The Bank of England is expected to leave interest rates on hold at 0.5% this week, marking the first time in more than half a century that a government has enjoyed unchanged borrowing costs for its entire term.