The head of Volkswagen in the US resigned “effective immediately” on Wednesday night as the company struggles to agree on a settlement with the US government over its emissions cheating scandal.
Sad to report
Nomura is hiring a group of bond traders and salesmen from JPMorgan to replace part of a Latin America credit-trading team that defected to Jefferies Group last year, according to people with knowledge of the matter.
Peter Nielsen, who rose up through Royal Bank of Scotland to run the trading business that the lender is now shrinking, is leaving after more than two decades at the company, said a person with knowledge of the matter.
Robots and drones will replace Uber drivers and Amazon delivery workers within 20 years, according to a study by jobs marketplace start-up Thumbtack.
Singapore remained the most expensive city globally for the third year in a row, but Hong Kong leapfrogged higher to nip at its heels while Paris got cheaper, a new survey found.
Bankers may see their bonuses sliced into, as the Supreme Court today sided with HM Revenue & Customs (HMRC), agreeing that taxes could not be avoided when using a special scheme to award employees in shares.
Societe Generale is to cut 550 jobs over the next five years.
Nasdaq announced that it will buy International Securities Exchange, an options exchange operator, from Deutsche Boerse on Wednesday.
A former JPMorgan broker who said he stole millions of dollars from customers because his brain was “hijacked” by an addiction to sports gambling was sentenced to five years in prison.
Hedge funds and other western investors have been piling into gold this year, pushing investment to a record high and driving the price of bullion to its biggest first-half gain since 1980.
London slipped from fourth place to tenth in the Schroders Global Cities 30 index, as a result of the U.K.’s vote to leave the European Union.
Lloyds Banking Group has told its 75,000 staff that the chief executive has “no case to answer” over questions he may have breached the bank’s expenses policy.