Societe Generale and Credit Agricole are both targets of inquiries from several US government offices for allegedly dealing in Iran, Sudan and Cuba.» Read More
LONDON, Jan 27- Safe-haven currencies such as the yen and the Swiss franc took a breather on Monday, with both falling against the dollar which benefited from expectations the Federal Reserve may reduce monetary stimulus this week. A rebound in two-year Treasury yields helped the dollar to 102.55 yen, up 0.2 percent on the day.
Federal prosecutors are scrutinizing whether banks have allowed businesses to siphon billions of dollars from consumers’ accounts.
SHANGHAI, Jan 27- A Chinese trust firm said on Monday it had reached an agreement to resolve a troubled high yield investment product, just days away from what could have been a precedent setting default in China's shadow banking system.
BRUSSELS/ LONDON, Jan 27- Europe will consider how to challenge the dominance of its big banks this week, but any new rules to isolate risky trading will take years to begin and there will be no attempt to split off market betting from deposit taking.
Jim Walker, Founder and Managing Director of Asianomics, expects Chinese authorities to explain reports of suspended bank cash transfers.
Concerns of a China cash crunch resurfaced after a notice on Citibank's local website said fund transfers would be delayed, but it may just be a tempest in a teapot.
Gary Dugan, CIO, Asia & Middle East at Coutts, warns of large-scale market panic if China proves to be unable to provide liquidity in both dollars and renminbi to depositors.
China's shadow banking troubles may be causing more hand-wringing than usual, but the problem may not be as systemic as analysts believe.
Jamie Dimon, chairman and CEO of JPMorgan Chase& Co, will be paid $20 million for his work in 2013, restoring most of the prior year's cuts.
Alastair Lukies, CEO of Monitise and U.K. business ambassador, discusses business sentiment and innovation in banking.
The U.S. government will soon issue regulations opening banking services to state-sanctioned marijuana businesses despite being illegal federally.
No American financial institution is too large to indict and no bank executive immune from criminal prosecution, Attorney General Eric Holder said.
In good times, emerging markets feel like a credit business, but when things get bad, it's a macro market, says Lloyd Blankfein, Goldman Sachs chairman & CEO, discussing his views on emerging markets and the outlook on U.S. markets.
Sir Richard Branson says there will be a global currency—whether its bitcoin or something else—that will "take on Jamie Dimon and the other banks."
The Goldman Sachs CEO also says the U.S. economy won't exceed the high side of expectations because the bar has been risen.
We are in a "muddling through" phase, says Lloyd Blankfein, Chairman & CEO at Goldman Sachs, sharing his views on the outlook on the global economy and markets. The U.S. is probably half a cycle ahead of Europe, says Blankfein.
Jan 24- State Street Corp, the world's second-largest standalone custody bank, said fourth-quarter profit rose 17 percent as its asset servicing business got a boost from stronger global stock markets. Net income rose to $545 million, or $1.22 per share, from $468 million, or $1.00 per share, a year earlier.
Frederic Oudea, Chairman and Chief Executive Officer for Societe Generale Group, provides his thoughts on whether there is a currency crisis looming and how the Fed's tapering program is likely to impact global economies.
DAVOS, Switzerland, Jan 24- Bank of England Governor Mark Carney sought to quash growing speculation that interest rates may rise sooner than the central bank has signalled after its first attempt to steer markets was overtaken by Britain's economic turnaround.
MUMBAI, Jan 24- Reserve Bank of India's proposal to change its main policy tool to a 14- day rate from an overnight one is a move bankers expect to help them better align their lending rates with central bank decisions.