Sergey Aleynikov, the former Goldman Sachs programmer accused of stealing company secrets, violated a confidentiality agreement with the bank — but that doesn’t make it a crime, lawyers for the 45-year-old defendant told a jury Wednesday.
Bank of America has named Diego De Giorgi and Karim Assef as co-heads of global investment banking, pairing a London-based banker who has focused on Europe and emerging markets with a veteran of the business.
JPMorgan shareholders will decide next month whether to urge the board to name an independent chairman, while giving it leeway to wait until Jamie Dimon no longer occupies the bank’s top two posts.
Lloyd Blankfein didn’t change course as revenue from trading debt, commodities and currencies at Goldman Sachs fell more than 50% over the past five years. Now it’s time for that patience to start paying off.
French prosecutors said on Wednesday they were dropping an inquiry into alleged insider trading by several executives at BNP Paribas after finding no signs of wrongdoing.
HSBC must pay $1.1bn in bail as part of French criminal investigations linked to a tax-evasion probe at its private bank.
Britain will go a whole parliament without an increase in interest rates for the first time since the immediate aftermath of the second world war, after the Bank of England left official borrowing costs on hold.
Julius Baer jumped Wednesday to the highest since it began trading in its current form more than five years ago, amid speculation that Credit Suisse is interested in buying the private bank.
The Federal Reserve said on Wednesday that growth in the US economy had slowed and officials were divided on whether to raise interest rates for the first time since the global recession.
A big and sustained fall in the oil price can be relied on to set off a wave of takeovers in the industry.
Credit Suisse will stop publishing research that previews companies’ financial results in Japan after the securities watchdog found that its local securities unit leaked information about a company’s earnings.
Centrica will cut 3,000 jobs this year as the group, which owns British Gas, reduces costs to shore up its financial position.
All is calm.