The U.S. Department of Justice is pressing for Citigroup’s main banking subsidiary to plead guilty to a felony tied to the rigging of foreign-exchange markets, according to two people briefed on the matter.
Commerzbank and government lawyers gained federal court approval of a $1.45bn agreement to defer prosecuting the lender for violating U.S. laws, including sanctions on doing business with Iran and Sudan.
Argentina has suspended the head of Citibank's local subsidiary after the bank said it would stop processing payments on Argentine bonds caught up in a messy US court battle.
Americans' views on the state of the economy reached new heights in the latest CNBC All-America Economic survey with a record 27 percent judging the economy as excellent or good, the highest level in eight years.
The World Economic Forum has named its "Young Global Leaders" - including many financial types - and expect them to be forces for global good.
Inside a lobby at Google’s headquarters in Mountain View, California, beside a rank of 1990s arcade machines, a laminated sign asks people to “Please Be Googley”.
Mizuho Financial Group plans to hire as many as 200 people from Royal Bank of Scotland in the U.S. as part of its deal to buy loans from the lender, a person with knowledge of the matter said.
Former UBS executive Hansruedi Schumacher pleaded guilty to conspiracy to defraud the U.S. as part of the government’s prosecution of financial industry officials who help Americans dodge taxes.
Britain’s Financial Conduct Authority dropped an investigation of Delphine Lyttleton, wife of former BlackRock fund manager Mark Lyttleton, two years after the pair were arrested as part of an insider-trading probe, said a person with knowledge of the situation.
Macquarie Group CEO Nicholas Moore’s reshaping of the investment bank is winning plaudits from analysts who say the overhaul will lead to more predictable profits.
A top Bank of England policymaker has warned that even if Britain votes to stay in the EU, underlying weakness in the economy could mean that more support is required from the Bank.
Part of its cost cutting drive.
Quiet trading floors are set to depress global investment banks’ second-quarter revenue 24%, with the underwriting and equities businesses facing the biggest drops, according to analysts at JPMorgan Chase & Co.