Banking and finance
Bank of China closes N Korean bank account
Lender falls into line with US-led sanctions push to restrict funding for North Korea’s nuclear programme amid rise in tensions on peninsula
Categories: Banking and finance
China reduces banking lifeline for N Korea
Lender falls into line with US-led sanctions push to restrict funding for North Korea’s nuclear programme amid rise in tensions on peninsula
Categories: Banking and finance
HSBC profits near double to $8.43bn in 'calmer waters'
HSBC has reported its best quarterly performance in several years as Britain's largest bank saw its pre-tax profits nearly double to $8.4bn.
Categories: Banking and finance
Financier sets up private bank in Iran
The challenge for what is in effect Iran’s only privately owned bank will be avoiding interference from state authorities and cronies
Categories: Banking and finance
Financier sets up private bank in Iran
The challenge for what is in effect Iran’s only privately owned bank will be avoiding interference from state authorities and cronies
Categories: Banking and finance
BNP Paribas reports falling profits
French bank BNP Paribas has reported its Q1 results, which include revenues of €10.1bn, a 1.7% increase from the corresponding period last year. The quarter included two exceptional items: a loss of €215m due to own credit adjustment and a … Read more »
Categories: Banking and finance
UBS reports improved Q1 results
Swiss bank UBS has reported its financial results for the first three months of 2013, during which it made adjusted pre-tax profits of CHF1.9bn. Quarterly pre-tax profits on a reported basis came to CHF1.4bn, and net profit attributable to shareholders … Read more »
Categories: Banking and finance
Japanese property: Mitsubishi Estate
Japan’s biggest property group has benefited from the market rally in the past 6 months, but it is now sounding a note of caution
Categories: Banking and finance
HSBC profits jump as bad debts fall
Costs drop 10 per cent in the first quarter from a year ago, reflecting a drive by Stuart Gulliver, chief executive, to streamline the bank’s global network
Categories: Banking and finance
HSBC profits jump as bad debts fall
Costs drop 10 per cent in the first quarter from a year ago, reflecting a drive by Stuart Gulliver, chief executive, to streamline the bank’s global network
Categories: Banking and finance
French banks unveil fresh cost cuts
SocGen and Crédit Agricole step up transition plans as they return to quarterly profit having registered losses in the last three months of 2012
Categories: Banking and finance
French banks unveil fresh cost cuts
SocGen and Crédit Agricole step up transition plans as they return to quarterly profit having registered losses in the last three months of 2012
Categories: Banking and finance
HSBC profits near double to $8.43bn
HSBC has reported its best quarterly performance in several years as Britain's largest bank saw its pre-tax profits nearly double to $8.4bn.
Categories: Banking and finance
Pension fund sues banks over CDS ‘dominance’
The class action antitrust suit filed by the fund for Ohio-based sheet metal workers comes on the back of a string of troubles for the $27tn market
Categories: Banking and finance
Pension fund sues banks over CDS ‘dominance’
The class action antitrust suit filed by the fund for Ohio-based sheet metal workers comes on the back of a string of troubles for the $27tn market
Categories: Banking and finance
BofA/MBIA: case closed
Deal gives MBIA’s muni business a shot at a future and alleviates the risk that BofA’s $8.5bn deal with investors might unravel
Categories: Banking and finance
BofA/MBIA: case closed
Deal gives MBIA’s muni business a shot at a future and alleviates the risk that BofA’s $8.5bn deal with investors might unravel
Categories: Banking and finance
Private banking’s high returns attract rivals in search of sanctuary
Daniel Schäfer finds institutions from other parts of the industry are turning to the private banking sector, though even here margins are being squeezed
Categories: Banking and finance
Private banking’s high returns attract rivals in search of sanctuary
Daniel Schäfer finds institutions from other parts of the industry are turning to the private banking sector, though even here margins are being squeezed
Categories: Banking and finance
Nearly half of directors aware of irregularities
Some 42% of directors and senior management have seen irregular financial reporting, while one in five employees has witnessed financial manipulation
Categories: Banking and finance
The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more