Banks on Brexit: deeds count more than words
Bank of America Merrill Lynch’s B-word ban is the latest sign global financial firms are tying themselves in knots over the UK’s European Union referendum. If big banks want to keep the union,…
Bank of America Merrill Lynch’s B-word ban is the latest sign global financial firms are tying themselves in knots over the UK’s European Union referendum. If big banks want to keep the union,…
An Andorran bank has managed to erase its money-laundering black mark. Last year, the Chinese-backed owner of a U.S. wind-farm project won a settlement with D.C. over the secretive CFIUS group’s…
The global bank hiked its dividend even as 2015 pre-tax profit fell 7 pct. HSBC thinks it can raise returns even as its balance sheet shrinks. But investors remain worried about negative rates, cheap…
Bitcoin is a virtual currency, or cryptocurrency, that’s controlled by a decentralized network of users and isn’t directly subject to the whims of central banking authorities or national governments. Although there are hundreds of cryptocur…
Cryptocurrencies, or virtual currencies, are digital means of exchange created and used by private individuals or groups. Because most cryptocurrencies aren’t regulated by national governments, they’re considered alternative currencies …
HSBC’s unsurprising decision to stay domiciled in London rounds off nine months of the UK softening its approach to banks. There are reasons to find this new tone uncomfortable. But that is a moot…
Boss Frederic Oudea hailed the “good” full-year result for the French bank’s main business lines as he hiked dividends to half of earnings. But new legal provisions put Societe Generale’s…
The German lender’s solvency is strong enough to withstand the most likely clouds on the horizon. But Deutsche Bank’s 1.4 trln euro balance sheet is opaque and stuffed with derivatives. Boss John…
The German lender has moved to reassure investors fretting about delayed coupons on its new AT1 securities, after CDS prices collapsed. Unlike hybrid forebears in 2008, AT1s should absorb losses. Yet…
The Swiss bank is cutting the level of annual bonuses it defers. After the 2008 crisis, regulators delayed variable compensation to improve accountability, leaving lenders with higher fixed costs and…
Whether you go to a used car lot or a high-end boutique, you know that the employees are working on commission and are thoroughly trained to sell you products. However, did you know that the personal bankers at your local bank operate in much the same …
A tentative $5 bln mortgage settlement comes more than 10 years after the Wall Street bank’s first missteps and more than five since it paid the SEC $550 mln. The deal ought to close the book on…
Jamie Dimon’s bank is lending more and reducing drags on capital. Yet Q4 return on equity was only 9 pct and relied heavily on one-offs – and the bank is a top performer in the industry. Rising…
The 19 member states have so far failed to put in place a full regime of bank oversight, argues former Citi exec William Rhodes. As U.S. and euro zone interest rate policies diverge, this is a big…
Britain has scrapped a state probe into banking ethics. So it should – such reviews are usually a waste of time. A better way is to see bank culture, size and shareholder value as three…
U.S. banks now say how many of their staff in Europe earned 1 mln euros or more in 2014. Knowing that 1,107 bankers from the top five did so is no great surprise. But JPMorgan’s policy of cancelling…
Cheap credit helped drive Asia’s merger boom. As growth slows and debt becomes more expensive, bankers are limbering up for a wave of restructurings. The work can be lucrative, but arranging…
Looking back on a decade running JPMorgan, the boss has had missteps like the London Whale, big legal fines and clashes with regulators. Yet Dimon has fashioned a bank with leading market share,…
A U.S. court reversed an ex-Jefferies trader’s fraud conviction, saying his fibs may not have swayed investors. The same court has smacked enforcers for stretching fuzzy rules to nail insider traders…
The scandal-tainted Brazilian investment bank is in talks to sell its latest acquisition, BSI. The Swiss private bank joins the list of assets on the block to shore up cash after ex-CEO André…