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NEW YORK, Oct 1- UBS AG on Monday lost a bid to suspend a federal regulator's lawsuit accusing it of misleading Fannie Mae and Freddie Mac into buying billions of dollars of risky mortgage debt.
Irene Tse, who headed the North America operations of the Chief Investment Office, told the firm she is resigning to focus on "entrepreneurial ventures," according to a memo on Monday from Chief Operating Officer Matt Zames, a copy of which was obtained by Reuters.
By Matt Scuffham and Myles Neligan. LONDON, Oct 1- Stockbrokers involved in the planned stock market listing of British insurer Direct Line reported good interest from private investors in London's first big retail share offering for six years, although some potential investors are unconvinced.
LONDON, Oct 1- Banks must change their culture to focus on the needs of customers to restore trust in the industry, Stephen Hester, chief executive of part-nationalised Royal Bank of Scotland, said on Monday.
He will be based in London. Willett joins from Royal Bank of Scotland, where most recently he was chairman of corporate finance for Europe, the Middle East and Africa. A top Morgan Stanley broker, Jonathan Madrigano, who last year managed about $2 billion in client assets left the company's brokerage division on Friday to join J.P. Morgan Securities.
The bank named Tom Willett as head of mergers and acquisitions, Europe. He will be based in London. Willett joins from Royal Bank of Scotland, where most recently he was chairman of corporate finance for Europe, the Middle East and Africa.
The bank named Tom Willett as head of mergers and acquisitions, Europe. Willett joins from the Royal Bank of Scotland, where most recently he was chairman of corporate finance for Europe, the Middle East and Africa. Murphy joins Barclays from HSBC, London, where he was a director in the project& export finance.
Shares in Barclays, Lloyds Banking Group and Royal Bank of Scotland rise as much as 2.5 percent after Liberum Capital upgrades its rating on all three lenders in a note on the UK banking sector, citing reduced tail risks for UK banks leading to lower cost of equity.
*Liberum Capital raises Barclays PLC Lloyds Banking Group. and Royal Bank of Scotland to buy. Reuters Station users, click. 1580.
The very existence of the London Interbank Offered Rate (Libor) has been threatened by the escalating scandal involving banks allegedly manipulating the rate during the credit crisis.
Royal Bank of Scotland has pulled out of the panels that set Tibor, Japan’s version of Libor, amid a global probe into alleged manipulation of interbank lending rates by traders at investment banks, the Financial Times reports.
Britain's growing interest rate-fixing scandal could claim yet another high-level victim: Paul Tucker, the man tipped to eventually become the next head of the Bank of England.
New York’s biggest investment houses are shifting jobs out of the area and expanding in cheaper U.S. locales, threatening the vast middle tier of positions on Wall Street.
An international response is needed to the issue of the manipulation of the Libor to ensure that cartel behavior is not possible, Sharon Bowles, Liberal Democrat MEP for South East England and chair of the European Parliament's Economic and Monetary Affairs Committee, told CNBC on Friday.
U.S. stock index futures jumped Friday after European leaders unexpectedly agreed to take action to bring down Italy and Spain’s borrowing costs and create a single banking supervisory body.
Under-regulated and over-powerful banks weaken the global economy and lead to higher inequality, Nobel prize-winning economist Joseph Stiglitz told CNBC.
Take a look at some of Friday’s morning movers:
Bob Diamond, chief executive of Barclays, has “very serious questions” to answer about the growing scandal around attempts to manipulate the London Interbank Offered Rate (Libor), UK Chancellor George Osborne said Thursday.
Take a look at some of Friday's midday movers:
"We are in the worst economic crisis since 1929," Credit Agricole CEO Jean-Paul Chifflet. If you think the Greece mess is costless or bloodless, just look at the European bank news this morning. At least four banks posted poor earnings and cited losses on their Greek holdings.