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  • BRUSSELS/ LONDON, Nov 20- Britain suffered an embarrassing defeat in its attempt to block the European Union's new limits on bank bonuses on Thursday, withdrawing its legal challenge after an adviser to the bloc's top court made clear it was unlikely to succeed. Britain, home to the City of London where most of the bankers hit by the cap are based, said the law would...

  • WASHINGTON, Nov 20- Goldman Sachs Group Inc on Thursday took the lead in rejecting allegations by a powerful U.S. Senate subcommittee that Wall Street banks were exploiting physical commodity markets to manipulate prices and gain unfair trading advantages. The public airing of concerns about banks' ownership of physical commodities and assets from...

  • Despite furore, bankers' earnings keep climbing Thursday, 20 Nov 2014 | 11:45 AM ET

    LONDON, Nov 20- At a time when scandal-hit bank traders are under fire from regulators, prosecutors and the public, there is no sign that the backlash is curbing their earning power. The median annual compensation package for director-level employees on trading floors in London, such as senior and chief dealers, is growing at least 10 times faster than that of the...

  • Nov 20- Goldman Sachs Group Inc said it fired a junior employee and a supervisor over the leaking of confidential information from the Federal Reserve Bank of New York. The confidential information provided Goldman a window into the New York Fed's private insights, including details about at least one of the bank's clients, the New York Times reported, citing...

  • BRUSSELS/ LONDON, Nov 20- Britain's relations with the European Union took another knock on Thursday when its legal challenge to a limit on bankers' bonuses was rejected by an adviser to the bloc's top court. Britain, home to the City of London where most of the bankers hit by the cap are based, said the law would push up fixed pay and goes beyond the EU's powers, a...

  • *Ukraine losses in Q3 at 14.4 bln rbls. MOSCOW, Nov 20- Russia's second-largest bank VTB expects a tough end to the year after posting a 98 percent slide in third-quarter profit because of higher provisions for bad loans, an economic slowdown and losses over Ukraine. The state-controlled bank, which was sanctioned by the United States and European Union over...

  • BRUSSELS/ LONDON, Nov 20- Britain's relations with the European Union took another knock on Thursday when its legal challenge to a limit on bankers' bonuses was rejected by an adviser to the bloc's top court. Britain, home of Europe's largest financial centre, said the law will push up fixed pay and goes beyond the EU's treaty powers, a sensitive subject at a time of...

  • MOSCOW, Nov 20- VTB, Russia's second largest bank, expects a small net profit for 2014 after being hit by provisions for loan impairment, its Chief Financial Officer Herbert Moos told a conference call on Thursday. Earlier on Thursday, VTB reported a nine-month net profit of 5.4 billion roubles. It had 157.8 billion roubles in provision charges.

  • EU Court adviser backs cap on bank bonuses Thursday, 20 Nov 2014 | 5:00 AM ET

    BRUSSELS— A key adviser to the European Union's highest court is siding against Britain and wants the EU cap on bankers' bonuses to be maintained. Britain says the rules will lead to an increase in bankers' fixed pay, drive away talent and weaken Europe's financial industry, the heart of which is in London's City. The issue of whether the EU should make decisions...

  • MOSCOW, Nov 20- Russia's second-largest bank VTB said on Thursday its third-quarter net profit fell 98 percent year-on-year, dragged lower by higher provisions for bad loans and an economic slowdown. The state-controlled bank, which was sanctioned by the United States and European Union over Russia's role in the Ukraine crisis, is a key lender to Russia's...

  • MOSCOW, Nov 20- Russia's second-largest bank VTB has asked for 250 billion roubles in aid from the government which plans to discuss it today, Finance Minister Anton Siluanov said on Thursday. Siluanov also said the ministry planned to place a remaining $900 million in foreign exchange deposit auctions by the end of 2014.. He said he doubted the ministry would...

  • Russia's VTB says Q3 net profit falls 98 pct y/y Thursday, 20 Nov 2014 | 4:14 AM ET

    MOSCOW, Nov 20- Russia's second-largest bank VTB said on Thursday its third-quarter net profit fell 98 percent year-on-year to 0.4 billion roubles, compared with 18.4 billion roubles in the same period a year earlier. The figure was below analysts' expectations for net profit of 3 billion roubles. VTB was sanctioned by the United States and European Union over...

  • SPECIAL REPORT-Crimean savers ask: Where's our money? Thursday, 20 Nov 2014 | 1:30 AM ET

    Ten months after Russia invaded this Black Sea peninsula and seized it from Ukraine, the financial fallout is still being felt. Lawyers for the banks are preparing legal actions against Russia, which confiscated many of the banks' buildings, equipment and cash. The banking and phone chaos are another front in the conflict between Ukraine and Russia.

  • Nov 20- Goldman Sachs Group Inc said it fired two staff after a junior employee passed confidential information from the Federal Reserve Bank of New York, his former employer, to a senior colleague in the investment bank. Goldman said the incident on Sept. 26 was immediately reported to its compliance team, regulators and the New York Fed and an internal...

  • Goldman fires staff for alleged NY Fed breach Thursday, 20 Nov 2014 | 1:14 AM ET
    A patch bearing the Goldman Sachs Group logo is pictured on a trading jacket on the floor of the New York Stock Exchange in New York.

    Goldman Sachs has fired an investment banker who allegedly accessed confidential information from the Federal Reserve Bank of New York, his former employer. The FT reports.

  • SYDNEY, Nov 20- The yen slid on Thursday, striking seven-year lows against the dollar and a six-year trough versus the euro as speculators poured into carry trades funded by a tide of super-cheap liquidity from the Bank of Japan. The dollar romped as far as 118.09 yen, up over a full yen in 24 hours and almost 10 yen since the BOJ sprang its surprise stimulus steps on...

  • Goldman accused of exploiting metal storage rules Wednesday, 19 Nov 2014 | 5:00 PM ET
    Goldman Sachs signage on the floor of the New York Stock Exchange.

    Senate panel says Goldman Sachs exploited aluminum storage rules in order to line its own pockets, even as manufacturers and customers suffered.

  • WASHINGTON, Nov 19- A two-year Senate investigation into Wall Street's physical commodities business found that U.S. banks had manipulated prices and gained unfair trading advantages at the expense of consumers. Goldman Sachs Group Inc, Morgan Stanley and J.P. Morgan built huge inventories of aluminum, oil, jet fuel and other commodities, the report said, and...

  • Libyan OPEC official indicates output cut on Nov 27. NEW YORK, Nov 19- Oil prices fell for a third straight day on Wednesday, as early gains on talk of a possible OPEC output cut vanished after the Federal Reserve released minutes of last month's policy meeting revealing worries that U.S. inflation could remain below target for "quite some time."

  • NEW YORK/ LONDON, Nov 19- Gold fell more than 1 percent in choppy trade on Wednesday after a poll showed weaker support among Swiss voters for a referendum that would force the central bank to boost its gold reserves. "The fact that the poll for the Swiss Gold Referendum fell short of majority may have aided the market's sell-off," said Carlos Sanchez, director of...

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