Credit Suisse dropped the most in three months Thursday, after the bank reported a third-quarter profit sparked by one-time gains, while CEO Tidjane Thiam signaled that the outlook will remain challenging.
Goldman Sachs has settled a 2011 lawsuit claiming the investment bank fraudulently induced a bond insurer to guarantee payments on the doomed Abacus collateralized debt obligation ahead of the financial crisis.
Goldman Sachs, JPMorgan and Morgan Stanley need not forfeit their estimated $100m of profit from trading Facebook stock soon after underwriting its May 2012 initial public offering, a federal appeals court said on Thursday.
Goldman Sachs has hired Tom Leake to run EMEA equity structuring, based in London. Leake joins from Deutsche Bank where he was global head of the equity structuring group.
Deutsche Bank has made “good progress” in talks with the U.S. Justice Department to settle an investigation into its subprime-era mortgage securities business, according to management board member Christian Sewing.
UBS, Julius Baer and Grupo BTG Pactual are among banks considering a local wealth-management business in Argentina, people familiar with the matter said, as one estimate predicts the government’s tax-amnesty program could bring as much as $16bn in offshore money back to the nation.
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Pimco Total Return Fund, once the world’s largest mutual fund under former manager Bill Gross, is within about $1bn of being overtaken as the biggest actively run bond fund.
Standard Chartered has parted company with the head of its private-equity business and is weighing plans to shutter the unit over the next two years, according to people familiar with the matter.
Mario Draghi, the president of the European Central Bank (ECB), has urged the British government to disclose more information about its plans to leave the EU.
The financial reporting watchdog will investigate accountancy firm Grant Thornton for signing off on an arrangement between Sports Direct, majority-owned by Mike Ashley, and a delivery firm owned by his brother.
Growth in the global economy could accelerate to 3.4 percent in 2017 but the outlook is clouded by political risks, Morgan Stanley has warned.