Bernard Madoff has sought to spread blame for his $65 billion Ponzi scheme to banks, regulators and some of his oldest business associates in a rambling jailhouse interview with the Financial Times.
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The Department of Justice said Thursday that it is seeking an order from a federal court in San Francisco to authorize the IRS to ask for information from the global bank HSBC about Americans who may be hiding money in offshore accounts in India to dodge taxes.
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.
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.
HSBC is cutting growth targets and raising inflation forecasts following dramatic rises in commodity prices that threaten the global recovery.
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.
HSBC is sounding out its shareholders on a proposed shake-up of its executive pay plans, which could see its top bankers unable to sell their stock until retirement, the Financial Times reports.
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.
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.
Stocks closed February on a strong note, leading to three consecutive months of gains, as all the major indices gained in the final minutes of trading. J&J and Verizon rose, while Intel fell.
Stocks traded mixed Monday, as blue chips advanced and small stocks slumped, yet the market was still on track to start the year with two straight months of gains. Johnson & Johnson and HP gained, while Intel fell.
Stocks pared gains but remained solidly higher after a mixed batch of economic news, and as oil prices eased from recent highs. 3M and Pfizer rose, while Intel fell.
Here in the United States, credit scores are a fact of life—and it’s one that not everyone is happy about. This raises the question: can you escape credit scores if you move to another country?
Asian markets fell on Wednesday after China's central bank raised interest rates for the second time in just over six weeks to rein in stubbornly high inflation. Chinese property and resource counters remained under pressure.
Will the wallet soon be a thing of the past? At the rate mobile banking apps are being adopted, who knows.
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"All the trading on Egypt happened last week," says Ben Willis of Sunrise Securities.
HSBC’s new chief executive has dropped plans to relocate to Hong Kong, choosing to remain in London. The FT reports.
Stocks closed up modestly, easing off the highs of the day, as upbeat earnings reports and rising commodity prices gave a lift to the market. BofA and Intel rose, while Verizon fell.