European equities closed lower on Wednesday after a U.S. budget deal added to expectations the Fed will scale back stimulus soon.» Read More
Japan's exports rose a stronger-than-expected 18.6 percent in October from a year before, thanks to the weak yen and a pick-up in overseas demand.
Some of the world's biggest banks, including Barclays Plc, UBS AG and Royal Bank of Scotland Group Plc, have already paid billions of dollars in penalties and entered into such agreements to resolve charges that their traders worked to manipulate the Libor benchmark and other interest rates to favor their own positions.
Interest rate swaps - sold as a way to save money on public financing - have turned into municipal bombs.
The international investigation is at an early stage, but authorities are signaling the likelihood of a legal crackdown involving some of the world's biggest banks. The NYT reports.
A whiff of Fed 'taper talk' and a 10-year note auction Wednesday should keep the stock market focused on interest rates.
Amid Libor probes big banks are considering banning traders from online chat rooms seen by regulators as venues for collusion and market manipulation.
China's export growth rebounded in October after a tumble the month before, but economists say it's too early to call a turnaround in global demand.
India's move to encourage foreign banks to reposition as wholly-owned subsidiaries may find just a handful of takers, given the regulatory trade-off.
The SEC alleged that RBS misled investors in a financial crisis-era subprime mortgage product.
The bank agreed to settle with the SEC without admitting or denying the charges, which allege that it misled investors about the quality of the underlying loans and the likelihood they would be repaid. In a statement, the company said it "cooperated fully" with the SEC and expects to make a total payment to the SEC of $153.7 million.
WASHINGTON, Nov 7- A unit of the Royal Bank of Scotland agreed to pay more than $150 million to settle civil charges alleging it misled investors in a financial crisis-era subprime mortgage product, U.S. regulators announced Thursday.
A number of finance firms face billions of euros in fines next month from European Union regulators for colluding on global benchmark interest rates.
HSBC reported third-quarter underlying profit before tax of $5.06 billion in the third quarter, a rise of ten percent year-on-year.
European shares closed lower on Friday as investors reacted to earnings news from the Royal Bank of Scotland and Renault.
Barclays has suspended six traders in connection with foreign exchange trading, sources with knowledge of the situation told CNBC.
The Royal Bank of Scotland has avoided being split in two and will instead hive off some $61 billion in toxic assets into an internal "bad" bank.
Fannie Mae sued nine banks accusing them of colluding to manipulate interest rates and seeking more than $800 million of damages.
NEW YORK, Oct 31- Fannie Mae sued nine of the world's largest banks on Thursday, accusing them of colluding to manipulate interest rates and seeking more than $800 million of damages.
NEW YORK, Oct 31- U.S. mortgage finance company Fannie Mae sued nine of the world's largest banks on Thursday, accusing them of colluding to manipulate interest rates and seeking more than $800 million of damages.
NEW YORK, Oct 31- Fannie Mae on Thursday sued nine banks alleging manipulation of interest rates. "Fannie Mae filed this action to recover losses it suffered as a result of the defendants' manipulation of Libor," a spokesman said.