Goldman Sachs and HSBC were sued in New York over claims they conspired for eight years to manipulate prices for the precious metals platinum and palladium in what plaintiffs’ lawyers say is the first class-action lawsuit of its kind in the U.S.
Barclays has hired 11 people for Japanese equity sales and trading since July and plans to add about four more by the end of the year amid a resurgence in the world’s second-largest stock market.
The FBI files spell it out: An analyst at Citadel, the hedge fund with $23bn in capital invested globally, told agents he made millions of dollars trading on information from a company insider.
HSBC will pay $12.5m to resolve charges that its Swiss private banking unit illegally offered services to U.S. clients without being properly registered, the U.S. Securities and Exchange Commission said on Tuesday.
Britain’s recovery remained on track in the third quarter but fresh figures revealed growth was heavily reliant on the consumer, leaving the government’s much hoped-for rebalancing of the economy elusive.
British regulators are pressuring Bank of America's European investment-banking arm to improve its risk management practices, saying the current ones are "simplistic" and need to be retooled, the Wall Street Journal reported.
Announced M&A transactions in the telecommunications sector total US$135.6 billion so far during 2014, down 46% from the value registered during the same period last year (US$249.5 billion).
Overhauling the broken culture of high street banking will take a generation to achieve, according to a report that found UK banks have received 20m customer complaints since the financial crisis.
The Justice Department is investigating whether an HSBC employee may have leaked confidential information to a hedge fund, Dow Jones reported.
‘Excessive, inflammatory and a red rag to the enemies of the free market.” The rocket fired at BG Group by Simon Walker, director general of the Institute of Directors, hits its mark. A pay package of up to £25m for incoming chief executive Helge Lund is absurd, even by modern boardroom standards, and should be rejected by BG’s shareholders.
Ever since Bernie Madoff’s Ponzi scheme collapsed in 2008, it’s been much-rumored that investors included tax dodgers shielding money from the IRS, drug dealers who laundered proceeds through the con man and wealthy moguls hiding assets from ex-spouses.
The new chairman of Alliance Trust has pledged to get women on to its all-male board after a turbulent year for the Dundee investment firm, which reported a fall in 2015 profits.