China’s shadow banking could lead to losses of $375bn, according to CLSA estimates of likely levels of bad debt.
The black box within Goldman Sachs blew a fuse on Tuesday.
One of the most popular hedge fund trades just hit a wall.
Lawyers for a Georgian billionaire accused Credit Suisse of money laundering as they step up their fight with the bank over its handling of a former wealth manager who allegedly made unauthorized transactions to cover up trading losses.
Bruno Iksil, the former JPMorgan trader who became known as the “London Whale” as his unit began generating more than $6.2bn in losses in 2012, surfaced on Monday to say he isn’t responsible for the debacle.
Nomura will forfeit $493m to end a derivatives contract and settle legal claims with Banca Monte dei Paschi di Siena SpA as prosecutors investigate whether a transaction known as Alexandria was used to obscure losses at the Italian bank.
Stu Bohart, who oversaw Fortress Investment Group’s hedge fund unit, has left the firm after five years.
Deutsche Bank’s Japan units were sued by a Japanese school operator for 9 billion yen ($76 million) in compensation for losses on derivative transactions.
Deutsche Bank and Barclays, two of the world’s largest currency dealers, were among the first banks to suffer losses after the Swiss central bank’s surprise decision to abandon a cap on the franc, people with knowledge of the matter said.
Royal Bank of Scotland will release £800m from provisions it had set aside to cover losses on bad loans after an improvement in economic conditions, especially in Ireland.