Sir John Vickers’ Independent Commission on Banking is to recommend the creation of separately capitalized UK retail banking operations, ringfenced within big bank holding companies, according to three people familiar with the process.
Banks are yet shrugging off a fear of commitment.
Like more than 90 percent of the population, I won't be changing my bank however rude they are to me on a Saturday morning. The work it would entail for the pay-off is too small. Bob Diamond, Stuart Gulliver and Peter Sands, on the other hand, may find they can get more out of changing countries.
Barclays is considering moving its global headquarters from London to New York.
Credit Suisse boss Brady Dougan took $14 million in pay in 2010, despite the bank's shares losing a quarter of their value, while rival UBS CEO Oswald Gruebel waived his bonus after a much smaller share price fall.
AIG has offered the Fed a profitable way to shed one of the thorniest crisis-era holdings on its balance sheet, but the central bank has remained silent and seemingly without a strategy.
AIG is still waiting to hear if the Federal Reserve will accept the insurance firm's bid to buy back assets it once owned, company CEO Robert Benmosche told CNBC Wednesday.
Barclays is among a group of investors weighing a rival bid for a portfolio of mortgage-backed securities that has already drawn a $15.7 billion offer from AIG, people familiar with the matter said.
European regulators should stop banker-bashing and allow banks to do their job or risk losing ground to competition from the US, Middle East and Asia in the financial sector, Howard Wheeldon, senior strategist at BGC Partners, told CNBC.com.
Regulators probing alleged manipulation of a key interbank lending rate have focused their demands for information and interviews on five global banks, according to people familiar with the investigation, the Financial Times reports.
Royal Bank of Scotland has awarded chief executive Stephen Hester £4.45 million of shares in a new long-term incentive package, bringing his total pay for 2010 at the state-backed bank to a maximum of £7.75 million.
Traders point to the fact that there is no sign that Europe’s credit markets are beginning to seize up as they did last spring, with banks worrying about each other’s counter-party risk. That’s evident from the fact that there is no spike in LIBOR, the interest rate at which banks borrow unsecured cash from each other on London's wholesale market.
You want another sign that we're in a new financial bubble? Here you go: drunk traders bragging about bonuses and buying ridiculous toys.
Stocks closed lower Tuesday, retreating from multi-year highs, led by energy and materials stocks, as investors digested a mixed bag of economic news, including disappointing retail sales in December and a spike in import prices. Exxon fell, while Verizon rose.
Stocks retreated from multi-year highs on Tuesday, led by energy and materials stocks, as investors digested a mixed bag of economic news, including disappointing retail sales in December. Exxon fell, while Verizon rose.
Anyone who cares about deals would do well to read Monday’s opinion from Chancellor Laster in the litigation brought by shareholders against Del Monte Foods.
Stocks continued to trade off multi-year highs after a slew of economic news, including a weak reading on December retail sales. Exxon and DuPont fell, while JPMorgan rose.
As lovers of U.S. stocks sit back, smile, and watch the S&P 500 climb higher and higher, emerging market investors are pulling their hair out. China’s Shanghai Composite down 6 percent from November 2010 highs, Brazil’s Bovespa is down 9 percent, and (saving the best for last) India’s Sensex Index is down 10 percent.
After appearing on "The Strategy Session" on Monday, Michael Gavin, managing director and head of emerging markets strategy at Barclays Capital spacer, continued the discussion off-air with David Faber, about how investors should weigh the risk of sharp price appreciation against the rewards of high-octane growth in India.
Inflation worries over emerging markets are cyclical and short-term, Michael Gavin, managing director and head of emerging markets strategy at Barclays Capital spacer, told CNBC on Monday.