The ties between Britain’s banks and its economy have always been close, but they seem to have become even tighter in the post-banking bailout era.» Read More
SYDNEY/ SINGAPORE, June 12- Australian regulators are ramping up their investigation into the country's banks over fixing of the benchmark inter-bank interest rates and currencies, two sources with direct knowledge of the matter told Reuters.
NEW YORK/ WASHINGTON, June 10- A former Rabobank NV trader pleaded guilty on Tuesday for his role in manipulating Libor, becoming the first person to admit guilt in a worldwide probe into alleged manipulation of interest rate benchmarks. District Judge Jed Rakoff in Manhattan, the U.S. Department of Justice said.
WASHINGTON/ NEW YORK, June 10- A former Rabobank NV trader on Tuesday pleaded guilty for his role in manipulating the Yen Libor benchmark interest rate, the U.S. Department of Justice said. District Judge Jed Rakoff in Manhattan, the Justice Department said.
Subdued euro zone inflation data kept expectations of aggressive European Central Bank monetary stimulus alive, much of which is priced in.
*India keeps policy repo rate at 8 pct. MUMBAI, June 3- India's central bank governor Raghuram Rajan on Tuesday eased rules to spur bank lending and toned down his inflation rhetoric in moves set to be welcomed by a new pro-business government determined to revive economic growth.
Banking CEOs received an average pay rise of 10 percent last year as U.S. banks paid their heads more than their European rivals, the FT reports.
Central bank decisions and a barrage of economic reports in China and Australia will be in focus for Asian markets this week.
NEW YORK, May 30- Twelve major banks asked a U.S. judge on Friday to throw out a consolidated antitrust lawsuit accusing them of colluding to rig prices in the $5 trillion- a-day foreign exchange market, saying the plaintiff investors had failed to properly allege the existence of a conspiracy.
This year has been tough for dollar bulls betting on stellar greenback gains, but they're not giving up.
Royal Bank of Scotland will scale back business and cut hundreds of jobs in response to Federal Reserve regulations. The FT reports.
NEW YORK, May 27- The euro softened slightly against the dollar and yen on Tuesday after stronger U.S. economic data and uncertainty persisted over possible European Central Bank monetary policy action next month.
Companies are reconsidering their approach to listings as enthusiasm for once-booming biotech and social media offerings has wavered. The FT reports.
European Union antitrust regulators charged on Tuesday HSBC, JPMorgan and Credit Agricole with rigging financial benchmarks linked to the euro.
While Japan clocked its fastest growth rate in over two years in the first quarter, economists warn it's too early to celebrate.
May 12- Citizens Financial Group Inc, the U.S. unit of the Royal Bank of Scotland, filed with U.S. regulators for an initial public offering of common stock that would raise about $100 million. Morgan Stanley, Goldman, Sachs& Co and JP Morgan are the lead underwriters for the IPO, the company said in a filing with the U.S. Securities and Exchange Commission on Monday.
NEW YORK, May 12- The euro held modest gains against the dollar and yen on Monday, unperturbed by the weekend referendum in Ukraine in which pro-Russian rebels declared victory in a self-rule vote, further escalating tensions.
Whether on Wall Street or Fleet Street, this is not a happy time for big banks.
The euro slid after strong words from European Central Bank chief Mario Draghi halted its march to a 2-1/2 year high.
NEW YORK, May 5- JPMorgan Chase& Co has won preliminary approval from a U.S. judge for its agreement to pay $280 million to resolve claims that it misled investors in billions of dollars worth of mortgage-backed securities. District Judge Pamela Chen, in Brooklyn, New York, issued the preliminary approval on Friday.
European markets closed lower in trade on Friday, despite a better-than-expected U.S. jobs number.