A US activist hedge fund has turned the screw on Roll-Royce by nearly doubling its stake in the struggling aircraft engine maker to 10%.
Deutsche Bank, which said it’s planning to reduce its workforce by 26,000 to focus on its most profitable businesses, cut four people in its securitized-debt group in New York, according to people with knowledge of the matter.
Sad to report
Deutsche Bank has put Ashley Wilson and Greg Bunn jointly in charge of its prime finance unit, a business co-CEO John Cryan wants to build to reduce dependence on costly debt-trading operations.
Top Credit Suisse private bankers are being fought over by competitors after Wells Fargo struck a recruitment deal with the firm, the bank’s head of wealth management said.
Royal Bank of Scotland is scrapping bonuses for 20,000 staff in an attempt to avoid future mis-selling scandals.
Conditions may be ripe for a December interest rate hike in the U.S., but the global economy is still uncertain, fragile and fragmented, EY's global chairman and CEO Mark Weinberger told CNBC.
Japanese exports fell for the first time in 14 months in October, exacerbating concerns for an economy already in recession and struggling to muster inflation despite aggressive monetary stimulus.
UniCredit has appointed French investment banker Jean-Pierre Mustier as its chief executive on Thursday, a choice that is likely to lead to a multi-billion euro capital increase and asset sales to boost the bank's financial strength.
Jerome Kerviel has spent years insisting he wasn’t solely to blame for the record trading loss that almost sank Societe Generale. The French legal system that sentenced him to three years in jail is starting to agree.
Bank of America has promoted Ashok Krishnan to lead electronic trading worldwide.