Goldman boosts private loans to wealthy
The private bank of Goldman Sachs is quietly beefing up its lending to wealthy individuals with a host of new loan products and credit offerings. Investment banks such as Goldman…
US judge rejects investors’ move over RBS
A group of investors who lost money when Royal Bank of Scotland was bailed out by the UK government in 2008 were dealt a blow on Wednesday after a US…
China lifts bar on securitisation sales
China Development Bank will sell $1.6bn in asset-backed securities this week, the country’s biggest securitisation deal, and its first in three years. China had barred the sale of asset-backed securities…
Lloyds targeted in new mis-selling swoop
©Bloomberg Lloyds Banking Group is under investigation by the Financial Services Authority as part of a fresh crackdown on incentives that encourage employees to mis-sell products such as including payment…
ING to sell Capital One stake for $3bn
ING will sell its stake in Capital One, the US bank, for about $3bn as it continues to shed international assets and retrench in the wake of a €10bn bailout…
Patron Capital set for Europe acquisition spree
The private equity owner of Powerleague, the five-a-side football pitch operator, has raised €880m for a European acquisition spree as investors continue to cash in on the glut of financially…
Bank mis-selling – easy target
The regulatory assault on the UK’s banks continues unabated. This time sales incentives are the target, with the Financial Services Authority launching a consultation on the practice. The FSA is…
Thailand holds rates at 3%
Thailand’s central bank kept interest rates on hold at 3 per cent on Wednesday, signalling its continuing emphasis on stability despite growing political pressure to ease monetary policy. However, the…
Qatari bank expands reach in Middle East
Qatar National Bank, the state-backed lender of Qatar, is extending its Middle East reach through acquisitions as it takes advantage of the downsizing of European banks and of Doha’s new-found…
FSA cracks down on retail product incentives
The City watchdog has launched a crackdown on incentive plans that encourage financial services staff to mis-sell retail products such as payment protection insurance. Too often, bank bonuses reward front-line…
SEC charges former Stanford officials
The Securities and Exchange Commission has filed civil fraud charges against the former head of Stanford Financial Group’s brokerage unit and a former regulatory official who worked for the Antiguan…
Jefferies aims for a fifth of LME turnover
Jefferies, the US investment bank, aims to become one of the world’s largest metals brokers with more than a fifth of the turnover on the London Metal Exchange after a…
Deutsche cuts equities sales staff in Asia
Deutsche Bank cut 10 per cent of its Asian equities sales and trading staff on Tuesday, according to people familiar with the situation, as a long-expected cull across the industry…
Madrid plans to inject Bankia with debt
Madrid is planning to provide €4.5bn of stopgap rescue money to Bankia, the nationalised bank, by injecting it with Spanish government debt, in a move likely to reignite debate over…
Santander listing looks to value Mexican subsidiary at $17bn
©Reuters Banco Santander has launched a listing of its Mexican subsidiary, valuing the business at up to $17.23bn in what the Spanish bank hopes will be the world’s second largest…