Swiss bank Credit Suisse became the latest major European bank to say it was caught up in an investigation into alternative trading venues known as dark pools.» Read More
Take a look at some of Friday’s morning movers:
"What is really depressing about this is that it is just one in a long line of issues our banks have had with respect to transparency across the board and the worry is it is going to prompt a much greater regulatory burden going forward and at the end of the day it's going to cost jobs in the financial sector," Michael Hewson, analyst, CMC Markets, told CNBC.
"There are probably twenty banks that have been implicated; I think Barclays might regret being the first ones to settle you may have read the wording of the settlement was actually complementary in terms of their cooperation, unfortunately the noise around the CEO is severe," Chris Wheeler, bank analyst at Mediobanca, told CNBC.
Take a look at some of Thursday's midday movers:
Criminal sanctions can be applied in the U.S. for manipulating Libor but not in the UK and the UK government is looking into changing that, Mark Hoban, UK Financial Secretary, told CNBC.
"I think this is going to carry on for a few more days, the amount of the fine is really immaterial, you worry about reputational damage but I don't know how much reputation the banks have anyway," Patrick Armstrong, managing partner at Armstrong Investment Managers, told CNBC.
U.S. stock index futures held their losses Thursday, following the jobless claims and GDP data and amid skepticism that European leaders would overcome their differences to form a solution to tackle the ongoing debt crisis.
CNBC's Kelly Evans reports Barclays has serious questions to answer over an investigation on whether the banking giant manipulated interbank lending rates over several years.
A multiyear, global investigation into the setting of interest rates has focused on often complextrades in the financial centers of New York, London and Tokyo. But the accusations in the case have real-life consequences for consumers and businesses in the United States, the New York Times reports.
CNBC's Eamon Javers reports on the CFTC's $200 million fine for Barclays, for alleged manipulation attempts of Libor.
Take a look at some of Wednesday's midday movers:
CNBC's Eamon Javers has a story that might just make your blood boil: a major bank admitting it tried to manipulate interest rates at the height of the financial crisis. Bart Chilton, CFTC Commissioner and Ross Intelisano, Rich, Intelisano & Katz, LLP, weigh in.
Barclays will pay $200 million civil penalty to settle the CFTC Libor probe. Neil Weinberg, American Banker, weighs in.
CNBC's Eamon Javers reports the big bank will pay a total of $454 million to settle allegations that it tried to manipulate Libor rates.
Barclays will reportedly pay $200 million in penalties to settle a Libor probe. "These Libor rates impact the credit rates, the interest rates that people pay for everything," says Bart Chilton, CFTC commissioner, explaining how Barclays allegedly manipulated the Libor rate and the CFTC's plans to prevent this from happening again.
CNBC's Eamon Javers has the latest details on Barclays' reported agreement to pay $200 million in penalties to settle a Libor probe.
CNBC's Eamon Javers reports Barclays is close to a settlement to pay $200 million in a civil monetary penalty to settle Libor probe.
Top U.S. and European bankers, including JPMorgan Chase’s Jamie Dimon and Citigroup’s Vikram Pandit, have enjoyed double-digit annual pay rises averaging almost 12 percent, despite widespread falls in profits and share prices, FT research shows.
The Federal Open Market Committee is beginning a two-day meeting, and these strategists have a trading plan.
Many people have left careers in finance and found fulfillment with others, and many say their background gave them an edge in a new venture.