Bridgewater Associates, the world’s largest hedge fund by assets, announces a firm-wide “renovation” that will include employee layoffs.
Jeremy Stoler, a director in the commercial mortgage division of Credit Suisse's asset finance group, has left the bank, according to three people familiar with the situation.
The Wall Street Journal reported that the Justice Department has suggested that the bank pay $14 billion to settle the cases.
mortgage securities probe
HSBC has defeated a class-action lawsuit by investors who lost money in Bernard Madoff’s fraud and claimed the bank ignored warnings while administering a group of 'feeder funds' that placed money with the con man.
The senator from Massachusetts is taking Wells Fargo's consumer accounts scandal straight to the top of the bank.
Eight years after the collapse of Lehman Brothers sparked a global financial crisis, the spread of Britain’s bonus culture from the bankers of the City to the hi-tech start-ups of London’s Shoreditch has seen pay top-ups leap to a new record level.
The Bank of England has left interest rates at a record low of 0.25% after signs the economy has held up more strongly than it was expecting following the vote to leave the EU. But policymakers left the door open for another interest rate cut before the end of the year.
Capital levels "have historically not had much predictive power for bank failures," Summers and a co-author assert.
'We have big ambitions'.
Wall Street investors are unlikely to have that Friday feeling this week, as several big banks are set to release results and the outlook is less upbeat than it could be.
Plans for an EU financial transaction tax (FTT) could be published by Christmas after politicians in 10 Eurozone countries agreed to push ahead with plans.
Amazon’s next step in its global domination of commerce could be much closer to home. The internet retailer, which has grown into a $397bn company in the 22 years since its founding, is reportedly planning to build a series of bricks and mortar corner stores selling milk, meat, orange juice and newspapers to further cement its recent expansion into the grocery market.