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International News & Information
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Barclays Plc set aside an extra 750 million pounds ($1.2 billion) to cover the cost of settling the probe into alleged currency rigging and posted a 32 percent drop in full-year pretax profit at the investment bank.
February 23, 2015 HSBC says CEO Stuart Gulliver holds Swiss accountSource: Reuters
Europe's biggest bank, HSBC said its chief executive, Stuart Gulliver, holds a bank account in Switzerland that was set up in 1998 to hold bonus payments, responding to a report in the Guardian newspaper that said he had a Swiss...
February 18, 2015 Swiss prosecutor orders search of HSBC in money-laundering inquirySource: CNBC
A Swiss prosecutor said on Wednesday it is ordering a search of HSBC Holdings in Geneva and opening an inquiry into allegations of aggravated money-laundering.
Source: The Guardian
HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax authorities, according to a...
February 5, 2015 Greek banks hit as Europe stands firm over bailoutSource: CNN Money
Greek markets are tumbling after the European Central Bank raised the pressure on the country's new anti-austerity government to stick to the terms of its massive international bailout program, a message Germany is likely to...
February 3, 2015 Fitch: Corruption Probes Highlight China Bank Governance RisksSource: Reuters
The sudden resignation of Mao Xiaofeng, President of China MinSheng Bank, and the investigation into Bank of Beijing's board director Lu Hai Jun, should not have an effect on these banks' Support or Viability Ratings (VRs), says...
January 28, 2015 Fitch: New Accounting Rules for 2014 Reporting SeasonSource: Reuters
In a new report, Fitch Ratings examines the changes expected in 2014 accounts. For banks reporting under International Financial Reporting Standards (IFRS) the most significant new standards for 2014 accounts are IFRS 10, 11 and...
January 20, 2015 Enter Goldman Sachs as Irish Tell Banks It’s Payback TimeSource: Bloomberg
The government last week hired Goldman Sachs Group Inc. (GS) to advise on how to recoup Allied Irish Banks Plc (ALBK)’s 21 billion-euro ($24 billion) bailout as part of a strategy that could help push Ireland’s debt back below...
January 20, 2015 Bank Losses From Swiss Currency Surprise Seen MountingSource: Bloomberg
The $400 million of cumulative losses that Citigroup Inc. (C), Deutsche Bank AG and Barclays Plc (BARC) are said to have suffered from the Swiss central bank’s decision to end the cap on the franc may be followed by others in...
January 15, 2015 Dimon warns breaking up JPMorgan would hurt US financial powerSource: FT.com
US financial power would be diminished if it were left to Baby JPMorgans to compete with emerging Chinese megabanks, Jamie Dimon, JPMorgan Chase’s chief executive, said on Wednesday as he was forced to make
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