China’s factories have stumbled through last month’s new year celebrations to join a broad decline in manufacturing across Europe and the US, adding further evidence of sharp downturn in the global economy since the beginning of the year.
New Barclays boss Jes Staley received a frosty reception in the City yesterday, as investors rejected his case for slashing dividends, sending the bank’s share price down by more than 10 per cent and wiping £2.3bn off its market value.
Michael Dobson, chief executive of asset manager Schroders, is to announce he is stepping down tomorrow, according to reports.
Luke Thorburn, the only Goldman Sachs employee who donated to Donald Trump’s presidential campaign in the second half of last year, has been placed on administrative leave, according to a person with knowledge of the decision.
Adding equity staff to bolster fee income as negative interest rates weaken lending profitability.
Barclays boosted severance packages for equities employees dismissed in Tokyo last month, adding the equivalent of three months of pay to some of the 80 workers affected who had rebuffed initial offers, people familiar with the matter said.
More than $70bn (£50bn) has been wiped off the wealth of the world’s 20 richest people following a slump on global financial markets, according to the latest annual ranking of billionaires by Forbes.
A U.S. judge ordered Barclays to face a proposed class-action lawsuit in which a California water utility accused the British bank of illegally manipulating electricity prices in the western United States, causing purchasers to overpay.
Grupo BTG Pactual’s hedge fund unit is shutting down its Hong Kong office as it shrinks its operations following a slump in assets under management, two people with knowledge of the matter said.
The chairman of Barclays has hit out against the £20bn in fines and taxes imposed on the bank, saying the resulting job cuts, branch closures and reduction in lending to small businesses have a very real impact on the UK economy and wider society.
This clearly was a big deal.
Goldman Sachs has been ordered to pay $36.3 million relating to a case in which an-ex employee allegedly used regulatory information to win clients.
Morgan Stanley said an Italian prosecutor may seek as much as $3.21bn over allegations that derivatives the investment bank sold more than a decade ago were improper and unfairly unwound.