Deutsche Bank will stop trading most credit-default swaps tied to individual companies, exiting a business that new banking regulations have made costlier, according to a spokeswoman.
SAC Capital Advisors founder Steven Cohen was ordered by a judge to face questions in his ex-wife’s post-divorce fraud lawsuit about times he may have been ‘untruthful,’’ including during the government’s insider-trading probe of his hedge fund.
Is that it ? Did the long-awaited rise in living standards last just the six days between the news that earnings had edged up to 1.3% and the latest data from the Office for National Statistics showing that the annual inflation rate has risen to exactly the same level?
Mark Carney is right: in the great quest to improve bankers’ behaviour and stop the scandals, large fines for banks are not achieving much. He’s also correct when he says it’s not a case of a few rotten apples. We’ve had PPI, Libor, forex and all the rest. The problem is probably the barrels.
Irving Picard, the court-appointed trustee rounding up funds for victims of the Madoff Ponzi scheme, says the total recovered now tops $10 billion.
The fines that the five banks have coughed up, will now go straight into UK finance minister George Osborne's pre-election coffers.
Once upon a time, we had the imperial CEO to worry about: the business leader who ruled in the manner of Augustus over his corporate empire. Jack Welsh at GE. Lee Iacocca at Chrysler. Sam Palmisano at IBM.
The biggest loser wins!
Talk about a big fish in a small pond: Bill Gross cast a long enough shadow at Pimco, something only exacerbated by his move over to Janus Capital.
The U.S. Justice Department has given banks about a month to come clean about wrongdoing as it moves closer to wrapping up an investigation into the rigging of currency benchmarks, a person familiar with the probe said.
Five former Barclays bankers accused of conspiring to rig Libor interest rates were “driven by money” and their offence “is no different from stealing,” a court has been told.
French Finance Minister Michel Sapin summoned Societe Generale’s top management for an unscheduled meeting Tuesday following media reports about the bank’s past dealings with a law firm.