The uncertain economic climate has dimmed job prospects for the rest of the year and going forward into 2012, with investment banks especially vulnerable to cuts, Guy Day, CEO of recruitment firm Ambition told CNBC.
Banking stocks in Asia have been under selling pressure since the beginning of August on fears that the lenders’ funding positions will be hurt by European debt crisis. But John Wadle, head of regional banks research at Mirae Asset, believes the region’s banks are well positioned to weather the financial volatility.
The US dollar will lose its status as the global reserve currency over the next 25 years, according to a survey of central bank reserve managers who collectively control more than $8,000 billion, the FT reports.
European stock market futures pointed to a mixed opening on Wednesday as earnings season got properly underway and Glencore was expected to publish the prospectus for its much anticipated joint flotation on the London and Hong Kong Stock Exchanges.
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…
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.
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.
1st paragraph of story should go here
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.