RBS Boss Stephen Hester Rejects 2012 Bonus in Wake of Libor Scandal
RBS' Hester forgoes his 2012 bonus, following the chaos from the Natwest computer system glitch, and reports that the FSA will fine the bank for its involvement in the Libor rate fixing scandal.
Libor Rate Fixing Scandal: Sacked RBS Trader Claims Chiefs Conspired in Market Manipulation
A sacked senior RBS trader Tan Chi Min said his bosses and senior staff colluded in fixing the Libor rate artificially high or low to maximise profits, according to US court filings.
Mis-Selling Derivatives and Mis-Trust: Britain's Banks Face a Crisis of Integrity
The IBTimes UK investigates the broken trust between banks and customers in the wake of a the industry's "septimana horribilis"
Mis-selling Derivatives: Barclays, RBS, HSBC and Lloyds Banned From Selling Interest Rate Hedging Products
UK banks Barclays, RBS, HSBC and Lloyds are banned from selling certain types of derivatives to SMEs, after all agreeing on a settlement with the Financial Services Authority
Vivendi Shares Soar on Reports that CEO Lévy to Quitting
Vivendi stocks lead the Cac-40, after reports say that Jean-Bernard Lévy is set to quit amid strategic differences over the future of the group, which owns Canal Plus and are makers of World of Warcraft and Diablo III
Libor Rate Fixing Scandal: UK Government's Osborne and Labour's Miliband Call for Criminal Investigation into Barclays
The British finance minister George Osborne and and Leader of the opposition call for a criminal investigation into the Barclays Libor rate fixing scandal that saw the group being fined a record amount by UK and US authorities.
Fixing Libor and Euribor Scandal: Manipulating Trillions of Dollars
After Barclays settles for a record fine for manipulating two of the most important interest rates in the global financial markets, IBTimes UK takes a look at it effects the wider market and public and how the rate setting needs to change
JP Morgan CIO 'London Whale' Trading Loss Could be $9bn
JPM's losses from Bruno Iksil's set of bad hedging bets that created one of the largest legal losses in history could be as much as $9bn, says a report by the New York Times.
Libor Rate Fixing Scandal: RBS, Lloyds, HSBC Investigated Following Barclays' Settlement
Three of Britain's biggest lenders, RBS, Lloyds and HSBC are among the 17 banks and one broker that are being investigated, following Barclays' involvement in fixing two of the most important interest rates in the global financial markets which resulted in a record fine.
Barclays Chiefs Scrap Their Bonuses After Record Fine For Market Manipulation
Barclays CEO Bob Diamond and three other senior executives will forego bonuses following the record Financial Services Authority fine for interest rate market rigging
Banca Monte dei Paschi di Siena Unveils Aggressive Cost-Cutting and State Aid Plans
Banca Monte dei Paschi di Siena (MPS) will seek €3.4bn in bonds backed by the government and possibly another one billion in private investor cash
Glencore Told to Pay up for Xstrata by Key Shareholder Qatar [VIDEO]
Qatar's sovereign wealth fund ramped up its demands for better Xstrata price from mining giant Glencore
Qatar holds Glencore to ransom to Xstrata deal
The $65bn merger between commodities trader Glencore and miner Xstrata is on the verge of collapse.
Standard Chartered Pretax Profit Hit By Slower Growth in Asia
London-based Standard Chartered expects pretax profit in the first half of this year to grow by less than 10 percent, following a slowdown in Asia growth and weakening local currencies
Harry Potter and the Goblet of Cash - A $1bn Franchise [VIDEO]
As Harry Potter enters 15th publishing anniversary, IBTimes UK looks at how it spawned global franchise.
Harry Potter books: 15th Anniversary
It’s all wizards, muggles and quidditch in IBTimes HQ, as we take a quick look at the Harry Potter franchise which put a spell on audiences around the world.
Banca Monte dei Paschi di Siena to receive state aid
Banca Monte dei Paschi di Siena or MPS is the first of the Italy’s banks to receive some form of state aid.
Italy Underwrites Banca Monte dei Paschi di Siena Bonds [VIDEO]
Banca Monte dei Paschi di Siena is the first Italian bank to receive some form of state aid, after the Italian cabinet have offered to back the banks bonds, similar to Tremonti bonds.
Credit Suisse to Axe Top Investment Banking Jobs As Regulation Bites [VIDEO]
The Swiss banks plans to slash one third of its senior employees in its European investment banking department (IBD) due to tighter regulation eating into its capital raising quest, say sources
Credit Suisse to axe more jobs
The jobs cull at Credit Suisse is not over - say sources - as the bank is set to axe some of its top directors next month.
Italian Bank Shares Tank on ECB Bond Buying Pleas
Shares in Italy's largest banks plummet after the head of Italy's banking association called on the European Central Bank to buy bonds
Banca Monte dei Paschi di Siena Goes to State For Funding Aid
Italy's third largest bank rushes to government for aid, in order to plug €1bn funding gap
India's Central Bank Relaxes Rules for Foreign Investors
The Reserve Bank of India unveils a number of measures to relax rules and limits on qualified foreign investors investing in India.
Basel Bank Chief Warns Stimulus Measures Could Create Further Problems
Bank of International Settlements (BIS) official warns that unconventional measures used to stimulate the economy could create problems in the future.
JP Morgan CIO to Increase Risky Derivatives Trading: Report
Despite vowing to improve risk management following the $2bn "London Whale" loss, sources say that JPM's Chief Investment Office will hold and trade many other risk derivatives instruments.
Collateral Damage: Moody's Bank Downgrades May Hit Balance Sheets [VIDEO]
As slew of global bank downgrades by Moody's will add billions in collateral, meaning banks may have to scramble to shore-up their balance sheets.
Investors Debate Size of Spain Bailout After First Independent Audit [VIDEO]
Market participants are still anticipating the final details on Spain's bailout amount and conditions, after independent auditors Roland Berger and Oliver Wyman say the country's banks need up to €62bn
Muted Stock Market Reaction to the 10 Downgraded European Banks
Investors executed a lukewarm reception to Moody's slashing the ratings and some outlooks for 10 UK and European banks.
Spain’s bailout amount and conditions: Investors await details
Spain’s first independent audit of its banks may have come out, but the battle for a bailout is not over yet.
Moody's: Brazil's Growing Domestic Market Helps Offset Eurozone Contagion [VIDEO]
Ratings agency says Brazil's diversification and growing domestic market are helping it mitigate the impact from Eurozone sovereign debt contagion
