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C Suisse merges some private banking units

Credit Suisse Canary Wharf

Credit Suisse is merging its eastern European private banking business with western Europe as it seeks to return to growth after heavy outflows due to crackdowns on untaxed funds in hidden Swiss accounts.

Barclays, BofA, Citi, others accused

Skyscrapers - Wall Street

Barclays, Bank of America, Citigroup and 10 other banks were accused in a lawsuit of conspiring to manipulate ISDAfix, a benchmark used to set rates for interest rate derivatives and other financial instruments.

Ex-Morgan Stanley trader keeps his $8m award

Morgan Stanley HQ

A federal judge upheld an $8 million arbitration ruling against Morgan Stanley in favor of a former energy trader who said he was improperly terminated after refusing to meet with New York law enforcement authorities.



Standard Chartered Shanghai Towers

Standard Chartered hit by double whammy

As fears grow over the stability of the European banking system, Standard Chartered is being hit by a double whammy in credit markets with investors increasingly worried about the lender’s business in Asia, where it earns most of its revenue.