Royal Bank of Scotland will pay $100 million to resolve U.S. probes into whether the bank violated U.S. sanctions laws against Iran, Sudan, Burma and Cuba.» Read More
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.
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Hundreds of South Korea’s small and midsized exporters have threatened to boycott a number of significant foreign-owned banks after they suffered heavy losses from currency derivative investments. The FT reports.
In the latest of a wave of hostile takeover bids, emerging markets bank Standard Chartered is fresh meat — and investors, including JPMorgan Chase, are hungry.
Small and mid-cap stocks have outperformed the large caps this year and there will be more tailwind for the smaller caps going forward, said David Sowerby, chief market analyst and portfolio manager at Loomis Sayles. He shared his best plays with investors.
American Express agreed to sell its international banking subsidiary, American Express Bank, to U.K. bank Standard Chartered in a deal worth approximately $1.1 billion, the company said in a statement Tuesday.