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Court calls BP 'reckless'; BP says 'you're wrong!'

Oil Barrels

A Louisiana federal court lambasted BP for the massive 2010 oil spill in the U.S. Gulf Coast on Thursday, saying the incident was a combination of "gross negligence" and "reckless" conduct by the oil giantand other oil producers - a judgement the company strongly rejected.

JPMorgan investigations said to find hacking clues

Computer Hacker

JPMorgan Chase's own investigators have found clues that a global network of computers available for hire by sophisticated criminals was used to reroute data stolen from the bank to a major Russian city, according to people familiar with the probe.

Ex-Goldman trader loses $5m bonus claim

Lloyd Fonzie Blankfein

Former Goldman Sachs trader Deeb Salem struck out in his pursuit of almost $5 million in bonus money on top of $8.25 million he received in 2010 as a Manhattan judge upheld an arbitration panel’s decision favoring the bank.

CIBC has $1.8bn wealth-management war chest

CIBC Logo

Canadian Imperial Bank of Commerce would consider spending as much as US$1.8 billion) on wealth-management takeovers, incoming Chief Executive Officer Victor Dodig said, setting a new ceiling for acquisitions by the country’s fifth-biggest bank.

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Citi trading warning

Citigroup joined U.S. rivals in signaling another dismal start to the trading year, spurring a slide in Wall Street bank stocks.