The British day trader accused of contributing to the 2010 flash crash enlisted a computer programmer to help him work out a system to manipulate stock prices, e-mailing pleas for help perfecting his 'spoofing' efforts, U.S. prosecutors said in an indictment.
Global investment banks may see revenue drop 19% in the third quarter, lowering earnings per shares across the industry, as a surge in volatility caused by turmoil in China recedes, according to analysts at JPMorgan.
A former Lloyds Banking Group trader sued the bank for unfair dismissal after he was fired in the wake of the company’s fines for Libor manipulation.
Pizza Express has become the latest restaurant chain to reverse its policy of taking a cut from tips to waiting staff after a union campaign and a backlash from customers.
The European Central Bank (ECB) launched its €1.1tn (£800bn) quantitative easing programme only in January. Now, with a full year left to complete the bond-buying spree, QE2 is being prepared.
Speculation about a wave of takeovers in the supermarket sector has helped fuel a near 5% rise in the shares of Morrisons.
The eurozone’s private sector is growing at its fastest rate in four years, with business confidence boosted by the easing of the Greek debt crisis despite growing fears over global growth.
One of the City’s most influential shareholder groups has issued a warning about planned changes to a multimillion-pound bonus scheme at Sports Direct, the retail chain run by Mike Ashley, the owner of Newcastle United football club.
HSBC has demonstrated its commitment to its high street banking operations in the UK by rejecting the idea of reviving the Midland name that hung over its 1,000-strong branch network 20 years ago.
BMO Financial Group have announced it has entered into a definitive agreement to acquire the business of Greene Holcomb Fisher (“GHF”), a premier boutique M&A advisory firm based in Minneapolis, with additional offices in Seattle and Atlanta. The transaction requires regulatory approval and is expected to close in BMO’s fiscal fourth quarter, which ends on October 31. The terms of the deal are not being disclosed.
Royal Bank of Scotland is being sued for £145m ($208.5m) over its role in a huge carbon trading VAT fraud.
Rothschild has agreed to merge with Compagnie Financiere Martin Maurel to create a private bank with $39bn in assets under management.