An investigation is under way into the handling of Prudential’s $35 billion aborted bid for Asian life assurer AIA, according to people familiar with the matter. The FT reports.
HSBC’s new chief executive is preparing a radical shake-up of the normally staid bank, slashing costs and reallocating capital in an effort to boost profitability and also resuscitate its flagging U.S. operation. The FT reports.
European Union "passporting" rules allow banks from across the EU to operate in each other’s markets as "branches," subject to regulations in their home country rather than full-blown subsidiaries that would have to play by UK rules. The FT reports.
China's growth remained strong in the first quarter of this year defying market concerns about a slowdown in domestic demand. Meanwhile, inflation undoubtedly continues to be the major concern leading to fears that measures to tame inflation may not be working.
An estimated half million Americans have a painful decision to make between today and August 31 — admit to the IRS that they’ve been hiding secret offshore bank accounts, or take their chances the government won’t find out about their secret horde and possibly send them to jail.
The Office of the Comptroller of the Currency, the Federal Reserve and the Office of Thrift Supervision released enforcement action against fourteen major bank/servicers in the form of consent orders.
Britain's top banks are set to need more capital and ring-fence retail banking to shield taxpayers from another crisis in the most radical industry shake-up for decades, which may prompt some banks to leave.
Budget deal accepted, NYSE bid rejected and British banks relocated? Here's what we're watching…
In a recent interview with the Financial Times, Bernie Madoff explained how—and why—he defrauded his investors out of billions of dollars. His account certainly sounds credible—but one doesn't perpetrate the largest Ponzi scheme in recorded history without the capacity to make dubious information sound legitimate.
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.