EM turns sour for global banks
As growth has stagnated or gone into reverse across much of the western world in recent years, banks have understandably been burnishing their emerging markets credentials. Any lender with a…
Bloomberg users’ messages leaked online
More than ten thousand private messages sent between users of Bloomberg’s financial terminals have leaked online, undermining the company’s attempts to restore faith in its ability to keep client data…
KeyCorp: cut and pay
Historically low – and seemingly permanently low – interest rates and sluggish loan growth makes it hard for US banks to increase revenues. That leaves cost cutting and capital returns…
Glass Lewis hits out at Goldman pay plan
A prominent investor advisory firm has recommended that Goldman Sachs shareholders vote against the bank’s executive compensation plan, citing a “disconnect between pay and performance”. Shareholders should also vote against…
Basel III drives Europe banks’ cash calls
After a dearth of equity raising from banks over the past year or so, cash calls all of a sudden seem to be the fashion of the day. Deutsche Bank…
Shortlist for Lloyds chairman ‘not long’
Tony Watson has faced some corporate governance challenges in his time. The former head of Hermes Pension Management used to make a living out of challenging company boards over pay…
SoftBank asks banks to spurn Dish
SoftBank is trying to thwart its rival’s bid for Sprint Nextel by leaning on investment banks and asking them not to finance the offer from Dish Network. The Japanese telecoms…
Bank recruitment runs into red-faced factor
©Bloomberg Lloyds chief executive António Horta-Osório More than a quarter of students would be too embarrassed to admit to their friends that they were taking up a job in banking,…
Luxembourg move holds up EU tax deal
An eight-year effort to revise EU tax sharing rules is facing further possible delays as Luxembourg resists mounting pressure to sign-up to an anti-avoidance initiative the UK has described as…
Pakistan PM Sharif makes economy priority
©AP Newly elected Prime Minister Nawaz Sharif speaks to members of the media on Monday at his home in Lahore Nawaz Sharif, Pakistan’s new prime minister, will appoint private sector…
Anthony Chiasson given prison sentence
Anthony Chiasson, co-founder of defunct hedge fund Level Global, has been sentenced to nearly six and a half years in prison for his role in a $70m insider trading scheme.…
Profits fall 22% at Poland’s PKO BP bank
PKO BP, Poland’s largest bank by assets, on Monday reported a 22 per cent fall in first quarter net profits, in a sign of how the slowing Polish economy and…
UK retail banks: new players needed
The UK’s attempts to spur banking competition are looking like a case of one step forwards, two steps back. Co-Op Bank was at the forefront, buying 245 Britannia branches in…
Chinese group quits Nasdaq in $890m deal
The stream of Chinese companies delisting from the US has accelerated with an $890m deal agreed by AsiaInfo-Linkage for the Nasdaq-listed telecoms billing and software group to be taken private.…
US hedge funds turn bullish on the euro
Park Avenue, Manhattan, is half a world away from Kaiserstrasse, Frankfurt, and the corridors of the European Central Bank. The closest that the hedge funds of New York have come…