Societe Generale's notoriously bearish strategist, Albert Edwards, has poured scorn on the belief that the U.S. economy is recovering and predicts "violent" reactions in asset markets during the second half of 2015.
CIMB Group Holdings plans to cut about 50 jobs in Asia to trim costs, people familiar with the plan said.
The education of some of the UK’s most disadvantaged young people has received a boost through a donation to Ark of over £100,000 after works by some of Britain’s most influential artists went under Sotheby’s hammer last night.
RBS reported an annual net loss of £3.47 billion ($5.39 billion) in 2014 after booking a £4 billion writedown in the value of U.S. offshoot Citizens.
Deutsche Bank has announced that it has hired Jeff Urwin, 59, as Co-Head of Corporate Banking & Securities and Head of Corporate Finance. Urwin will become a member of the Group Executive Committee and be based in New York.
Citigroup said additional government authorities have started probes of possible breaches of anti-money laundering laws at its Banamex USA unit.
Philip Hampton will step down as Director and Chairman of RBS with effect from 31 August 2015. Howard Davies will join the Board at the end of June and assume the role of Chairman from 1 September 2015.
Morgan Stanley said it reached an agreement in principle to settle mortgage-backed-security-related claims with the Department of Justice.
A major lawsuit filed against McDonald’s in Brazil is seeking to stop the fast food chain from opening any further stores in the country until it amends its working practices.
The chief executive of Royal Bank of Scotland (RBS) has said he will hand back £1m of his annual pay package.
Last week should have been a good one for George Osborne.
Pictured seated in a workshop, visor raised, 20-year-old Sophy Bage gazes resolutely across the room. Hair drawn back tightly into a ponytail, bright yellow earplugs just visible, a small smile steals across her illuminated face. She looks completely at home – and well she might. Because Bage is a welder.
If you have always wanted to buy your own place in the Big Apple, you’d better do some intense saving. The average price of a Manhattan apartment has hit a record $2m (£1.4m), according to an analysis of recent sales published on Friday.