HSBC Chairman Douglas Flint said the cost of policing potential wrongdoing will probably decrease after Europe’s largest bank by market value spent billions of dollars to toughen its internal controls in the wake of a series of scandals.
European regulators unveiled more details of the hotly-anticipated banking stress tests on Wednesday, in an effort to strengthen the region's shaky financial sector.
Goldman Sachs has abandoned its bid to get a U.K. court to throw out a $1bn lawsuit by the Libyan Investment Authority that alleged the New York-based bank made about $350m selling it investments that turned out to be worthless.
Atlantic City's Revel casino, which announced earlier this month that it will soon shutter, lost more than $20,000 in cash when the money fell off the roof of an armored truck, according to a report from Press of Atlantic City.
Standard Chartered Bank has agreed to pay $300 million and enact several business changes because of anti-money laundering compliance failures.
Google's C-suite has a lot of money, and it enjoys spending it.
More billionaires have been born in New York City than in any other city in the world, according new research by U.K.-based luxury magazine Spear's and research company WealthInsight.
September 16 2008 was the day central banks stopped being boring. The day Lehman Brothers went down was the cut-off point between conventional monetary policy – moving official interest rates in baby steps to keep inflation low – and unconventional monetary policy.
One of the financial world's largest ever mergers was effectively unwound on Tuesday as BHP Billiton said it was demerging key assets from its $190bn (£114bn) mining conglomerate – triggering another huge payday for the banks.
The court also heard that he blew £230,000 playing the tables at the Playboy Club after he falsely claimed to have £1m sitting in his account.
Former HSBC senior credit trader Claus Jorgensen has sued the bank for unfair dismissal after being fired last year.
Jefferies Group, the investment bank owned by Leucadia National, is in talks to lease space at a tower under construction in the City of London, a person with knowledge of the matter said.
Schroders, one of the City’s oldest financial institutions, is facing questions about its corporate governance after elevating its chief executive to the chairmanship.