Credit Suisse has announced a 25% boardroom pay cut and reduced bonuses for other top staff while also setting out a range of measures to tackle the surge in the Swiss franc.
The current 'clawback' period for bankers' bonuses is currently seven years, but shadow chancellor Ed Balls said that was 'too weak'.
British lawmakers plan to call up the bosses of HSBC and the tax authority, HMRC, to quiz them over allegations some clients of HSBC's Swiss private bank evaded tax.
J.P. Morgan Chase & Co. pushed out two senior executives connected to an investigation into its hiring in Asia, making them the latest to leave the firm amid the burgeoning probe, according to people familiar with the bank’s actions.
Deutsche Bank’s Japan units were sued by a Japanese school operator for 9 billion yen ($76 million) in compensation for losses on derivative transactions.
AIG on Thursday posted quarterly profit that fell short of Wall Street expectations as adjustments to its workers' compensation business weighed on revenue.
Contract workers at New York’s John F Kennedy airport took strike action on Thursday morning despite a recent letter sent by their employer warning of possible consequences including termination.
The French oil group Total has unveiled plans to cut 180 jobs in the UK, reduce refinery capacity and slow spending on North Sea fields after it crashed to a $5.7bn final-quarter loss.
The clashes are said to have led to the departure of a series of managers in the past year.
Bond traders are vanishing as slumping fixed-income revenues deter the world’s biggest banks from making markets in Europe.