The U.S. Department of Justice is pushing for 5 banks to resolve charges they manipulated FX markets in a mega settlement in mid-May, the FT reported.» Read More
CNBC's Eamon Javers reports Congress is headed back to Capitol Hill to work on a budget and tax agreement; and John Taft, RBC Wealth Management CEO, provides perspective on overhauling the current tax code. "Don't underestimate the degree of frustration out there among individual investors," Taft said.
Banking jobs in the City of London, the business and financial center of the U.K., will fall next year and drop even further in 2014, reaching their lowest level since 1993, according to a report by the Centre for Economics and Business Research.
Bruce Van Saun, CFO of RBS, tells CNBC that banks didn't live up to standards of integrity or have the right cultures in the lead up to the crisis and they are now paying the price for that.
Virginie Maisonneuve, head of global and international equities at Schroders, tells CNBC that as an investor who can pick banks around the world there are still a lot of pressure points on banks like RBS and she doesn't want to be there.
The yen gets a break and oil prices take down the loonie — it's time for your FX Fix.
Chris Tinker, equity strategist at Libra Investment, explains the on-going search for RBS branch ownership in the commercial marketplace.
The UK proposal to ring-fence investment banking from retail banking, which is currently under consideration by the Independent Commission on Banking, is "barking mad ", John Cridland, director general of the Confederation of British Industry, told CNBC.