BlackRock chief Larry Fink responds to critics of exchange-traded funds, and makes his case for why ETFs are safer than mutual funds.
US stock markets suffered further heavy losses on Friday with the Standard & Poor’s 500, the index of America’s biggest companies, falling 2.2% to 1,880 points – the lowest since August 2014.
Shares of Citigroup fall sharply despite a better-than-expected quarterly earnings beat.
Wells Fargo posted mixed quarterly results, as profit slightly beat expectations but sales failed to top Wall Street's estimates.
Two former top officials at the Co-operative Bank have been banned by the Bank of England from holding senior positions in the City.
Reshaping the business.
Bring it on.
The trader got 90 months in prison, but was out years before the banks settled their case.
The ghost of Raj Rajaratnam still haunts hedge funds. Some make employees sign pledges that they’ve not acted on illicit tips, others snoop on their traders with keystroke-reading software. At the compliance meetings everybody has these days, prison isn’t an off-the-wall topic.
Goldman Sachs said Thursday that its fourth-quarter earnings will take a roughly $1.5 billion hit as it has reached a nearly $5.1 billion settlement agreement in principle related to its "securitization, underwriting and sale of residential mortgage-backed securities from 2005 to 2007."
One of the leading money managers in the City of London has said the fallout from Britain’s vote to leave the EU will be “horrible” and that the Square Mile is still “slightly stunned” by the result.
A little after 4.30am Ross McEwan picked up the phone to speak to his colleagues at Royal Bank of Scotland.
The average asking price of homes coming on to the market in England and Wales has fallen since mid June, according to property website Rightmove, with the Brexit vote exaggerating the usual summer slowdown.