Morgan Stanley will pay $63m to settle a series of government lawsuits claiming the bank misrepresented securities it sold to banks that later failed, the Federal Deposit Insurance said in a statement Tuesday.
Megadeals will probably be replaced by a rising number of smaller acquisitions in 2016 as growing cash reserves keep last year’s record-breaking takeover momentum going, according to JPMorgan.
HSBC Saudia Arabia, a subsidiary of the British bank, are said to have hired two senior compliance staff with unaccredited business degrees - meaning they are unqualified to apply for even an entry-level position at the firm.
Canary Wharf’s gleaming office towers have lagged slightly behind rival districts last year, posting an eight per cent rise in rental growth against 12 per cent in the City and an astonishing 24 per cent leap in Shoreditch – thanks to the cool kids moving in.
Amazon is planning to open hundreds of physical bookstores, according to a large mall CEO who spoke to Dow Jones.
Exxon Mobil, the erstwhile largest company in the world by market capitalisation, has posted a 58 per cent drop in quarterly profit as the languishing oil price continues to eat into the performance of the company.
Google has become the world’s most valuable listed company after announcing that its global revenues rose 13% to $75bn (£52bn) last year, and the group’s tax rate fell to just 17%.
Goldman Sachs was censured by Hong Kong’s securities regulator for breaching the city’s takeovers code while advising Wing Hang Bank on its acquisition by a Singaporean bank.
The founder of easyJet has opened a discount food store that is selling everyday groceries for 25p each.