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  • Banks pay up and carry on after FX fines Wednesday, 12 Nov 2014 | 11:54 AM ET

    LONDON, Nov 12- Far from chastening the world's biggest currency trading firms, the multi-billion dollar fines levied by regulators on Wednesday are more likely to draw a line under the affair and gradually allow a return to business as usual. The U.S. Department of Justice has also yet to report and has been a heavier hitter than its European peers to date, a hint...

  • Weaker utilities, banks drag down European shares Wednesday, 12 Nov 2014 | 11:20 AM ET

    The utilities index fell 2.4 percent, the biggest sectoral decliner, led by a 5.7 percent drop in Italy's Enel after it lowered its debt-reduction target for 2014 and reported a drop in nine-month core earnings. Germany's top utility E.ON fell 4 percent after posting a steep drop in profits at its business in Russia, its most important foreign market.

  • *OCC fines three U.S. banks, including Bank of America, $950 mln. LONDON/ ZURICH/ NEW YORK, Nov 12- Regulators fined six major banks including Citigroup and UBS a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a year-long global investigation. HSBC, Royal Bank of Scotland, JP Morgan and Bank of America...

  • LONDON/ NEW YORK, Nov 12- Barclays did not join a $3.4 billion settlement over alleged manipulation of foreign exchange rates because of issues with its New York regulator, people familiar with the matter said. Barclays is overseen in New York by the Department of Financial Services, unlike five other banks which settled with British, U.S. and Swiss regulators.

  • Retail earnings, banks in focus on Wall Street Wednesday, 12 Nov 2014 | 8:52 AM ET

    Wall Street looked set for a lower open to trade on Wednesday, ahead of a final burst of earnings for the third quarter.

  • European shares slip as banks, retailers retreat Wednesday, 12 Nov 2014 | 7:20 AM ET

    *HSBC, RBS, UBS, Barclays in focus after forex probe fines. LONDON/ PARIS, Nov 12- European shares fell on Wednesday, with financials hit after global regulators fined five banks for failings in currency trading, while supermarket chain J. Sainsbury dropped after announcing plans to cut prices. The European banking index slipped 1.3 percent after global regulators...

  • *Gold' fix' to be replaced by electronic platform. LONDON, Nov 12- Swiss regulator FINMA said on Wednesday that it found a "clear attempt" to manipulate precious metals benchmarks during its investigation into precious metals and foreign exchange trading at UBS. "The behaviour patterns in precious metals were somewhat similar to the behaviour patterns in foreign...

  • Watchdogs impose $3.4B fines in bank forex probe Wednesday, 12 Nov 2014 | 5:05 AM ET
    People at a Chase bank branch in New York.

    Financial regulators on both sides of the Atlantic imposed multibillion-dollar fines on five global banks for rigging key foreign exchange markets.

  • *Corporate updates knock UK retailers. LONDON, Nov 12- European shares and core bond yields fell on Wednesday, bucking a strong performance in Japan, with bank stocks under pressure following a landmark $3.4 billion settlement over allegations of price-fixing in currency markets. Regulators imposed penalties totalling $3.4 billion on UBS, Citigroup, HSBC,...

  • Europe shares fall; banks mixed after forex probe fines Wednesday, 12 Nov 2014 | 4:48 AM ET

    *HSBC, RBS, UBS, Barclays in focus after forex probe fines. The regulators imposed penalties totalling $3.4 billion on UBS, Citigroup, HSBC, Royal Bank of Scotland and JP Morgan. HSBC was down 0.9 percent and RBS dipped 0.2 percent, while the Frankfurt- listed shares of JPMorgan and Citi were down 0.6-0.9 percent.

  • LONDON, Nov 12- Barclays did not join a group settlement over the alleged manipulation of foreign exchange rates because of complications with its regulator in New York, people familiar with the matter said. London- based Barclays is regulated by the New York State Department of Financial Services, unlike any of the other five banks who agreed a $3.4 billion...

  • LONDON/ ZURICH, Nov 12- Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup, on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has...

  • Banks fined billions for rigging currency markets Wednesday, 12 Nov 2014 | 1:49 AM ET

    LONDON— Traders with nicknames like the "Three Musketeers" and the "A-Team" plotted over Internet chat rooms to manipulate currency markets for years, profiting at the expense of clients— and then congratulating themselves for their brilliance— regulators said Wednesday, as they fined five banks $3.4 billion. Citigroup, JPMorgan Chase, Royal Bank of Scotland,...

  • LONDON/ ZURICH, Nov 12- Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup on Wednesday in a landmark settlement over allegations of price fixing in the foreign exchange market. Royal Bank of Scotland and JP Morgan were also fined for attempting to manipulate foreign exchange benchmarks in a...

  • "The migration to trucks will turn into a stampede if these gas prices go lower or stay low," Mike Jackson, chief executive of AutoNation Inc, leading U.S. auto retailer, told Reuters. The days of having to be ashamed of your Yukon seem to be fading, "he said, referring to General Motors' full-sized SUV powered by a V8 engine. With a greater share of big vehicles in their...

  • US, Europe to announce bank currency settlement Wednesday, 12 Nov 2014 | 12:32 AM ET

    Regulators worked late to announce a multibillion-dollar settlement with five global banks to resolve charges of attempted currency manipulation.

  • US, UK close in on forex settlement with top banks Tuesday, 11 Nov 2014 | 3:26 PM ET
    A UBS bank branch in Zurich, Switzerland

    Regulators are poised to levy fines on big banks in a settlement after a year-long global probe into allegations of forex collusion.

  • LONDON/ WASHINGTON, Nov 11- British and U.S. regulators are poised to levy hefty fines on leading banks in a landmark settlement after a year-long global investigation of allegations of collusion and manipulation in the foreign exchange market. At least one of the six banks set to be named early on Wednesday by Britain's Financial Conduct Authority was still in...

  • LONDON, Nov 11- British and U.S. regulators are poised to levy hefty fines on leading banks in a landmark settlement after a year-long global investigation into allegations of collusion and manipulation in the foreign exchange market. However, at least one of the six banks set to be named early on Wednesday morning by Britain's Financial Conduct Authority...

  • More bank settlements coming in currency case Tuesday, 11 Nov 2014 | 8:39 AM ET

    The CFTC is planning to announce settlements against giant banks suspected of manipulating the foreign currency market. The NYT reports.