New York - Citigroup Inc. has reported fourth quarter 2010 net income of $1.3 billion, or $0.04 per diluted share, compared to a net loss of $7.6 billion, or $0.33 per diluted share, in the fourth quarter 2009.
'18 January 2011 - The Financial Services Authority (FSA) has fined Barclays Bank plc (Barclays) £7.7 million for failures in relation to the sale of two funds. Barclays will contact customers and pay redress where appropriate.
Bloomberg reports that JPMorgan posted $4.8bn in fourth-quarter earnings Friday, making it $17.4bn in profits for 2010.
The Telegraph reports that DE Shaw, one of the world's largest hedge funds, has taken an almost $159m short position in Barclays Bank, emphasising growing concerns that UK banks are facing headwinds operating in a tougher regulatory and economic climate.
Royal Bank of Scotland Chairman Sir Philip Hampton apparently has a pop at the banking industry during an interview with the BBC's Robert Peston which is going out Tuesday evening.
Yes, that's right. Just a few weeks after cheering everyone up with that Zurich dress code, UBS has decided that it might be easier to simplify it.
The New York Times reports that Goldman Sachs has decided that the level of media attention seen over its proposed private placement of Facebook shares 'might not be consistent with the proper completion of a US private placement under US law'.
Goldman Sachs last week publicly issued the report compiled by the firm's Business Standards Committee.
JPMorgan Chase has reported fourth quarter 2010 net income of $4.8 billion, an increase of 47% compared with $3.3 billion for the fourth quarter of 2009. Earnings per share were $1.12, compared with $0.74 for the fourth quarter of 2009.
Now here's an interesting little item.
The Chinese believe the Lunar New Year is about ushering in luck and fortune, and this year may be particularly prosperous for the country's wealthiest, according to research firm WealthX.
Low oil prices and inflation will help Britain record its fastest growth since the financial crisis, according to the CBI.
HSBC has published a full-page advert containing an apology in several newspapers, over claims that its Swiss private bank helped clients evade tax.