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Updated: 38 min 44 sec ago

S&P downgrades ratings of 34 Italian banks

Fri, 10/02/2012 - 21:37
Standard & Poor’s cuts credit ratings of Italian institutions citing concerns over ability to finance given the broader problems facing Italy
Categories: Banking and finance

Cameron calls for truce on bonuses

Fri, 10/02/2012 - 21:31
David Cameron has called for a truce in the battle over bank bonuses in an attempt to repair fractured relations with the City
Categories: Banking and finance

False dawns and public fury: the 1930s are not so far away

Fri, 10/02/2012 - 20:38
Saving the euro is not everything. We must also ensure that more tested aspects of the EU survive an all-too-possible euro break-up, writes Martin Taylor
Categories: Banking and finance

Bankia to set aside €3.4bn for provisions

Fri, 10/02/2012 - 20:35
Spanish bank, which reported net profit for full year fell 13 per cent to €309m, denies again that talks took place with rival La Caixa
Categories: Banking and finance

Barclays bonus cap reflects ‘public mood’

Fri, 10/02/2012 - 19:58
Cuts to banking bonus pools may be an attempt to mollify public agitation, but they mask the difficulty of bringing down costs in the industry
Categories: Banking and finance

Banks under fire over Project Merlin

Fri, 10/02/2012 - 19:43
The banks met their overall government-agreed commitments for 2011 with gross new loans of £214.9bn to businesses against a £190bn target
Categories: Banking and finance

Diamond vows to try harder as Barclays disappoints

Fri, 10/02/2012 - 19:19
Barclays chief executive has said he is not satisfied after announcing results showing return on equity was lower than in 2010
Categories: Banking and finance

A brighter view of banking under Volcker

Fri, 10/02/2012 - 17:55
Under new financial regulations in the US the banking industry’s profits will be curbed – or so it was thought. Goldman notes otherwise
Categories: Banking and finance

UBS and Credit Suisse profits fall

Fri, 10/02/2012 - 16:40
Both unveiled worse than expected quarterly results that highlighted how banks are grappling with downbeat sentiment and economic slowdown
Categories: Banking and finance

Citigroup took $50m loss over Libor probe

Fri, 10/02/2012 - 11:33
Nine agencies in the US, Europe and Japan have been probing whether US and European banks manipulated the London Interbank Offered Rate
Categories: Banking and finance

Barclays caps bonuses as profits dip

Fri, 10/02/2012 - 10:35
UK bank capped investment banking bonuses at £65,000, with the overall bonus pool at the division down by a third to £1.5bn
Categories: Banking and finance

NY Fed got $3.2bn from mortgage securities sale

Fri, 10/02/2012 - 05:58
Bundle of mortgage-related securities once owned by bailed-out insurance group AIG were sold to Credit Suisse in January
Categories: Banking and finance

US banks in $40bn mortgage settlement

Fri, 10/02/2012 - 00:17
The US government and 49 state prosecutors have struck an agreement with five banks worth up to $40bn to resolve allegations that the institutions abused borrowers
Categories: Banking and finance

Canaccord and China plan $1bn resources fund

Thu, 09/02/2012 - 22:31
Agreement aims to invest in Canadian natural resources as bilateral treaty signing between Beijing and Ottawa sparks a series of deals
Categories: Banking and finance

Lehman estate sues Citi for $2.5bn

Thu, 09/02/2012 - 21:27
Move shows confusion after Lehman’s collapse and the risks of bilateral trading that left counterparties scrambling to cover obligations
Categories: Banking and finance

Probe reveals scale of Libor abuse

Thu, 09/02/2012 - 21:12
Regulators are investigating how certain traders seemed to influence the movement of benchmark rates to profit from related derivatives
Categories: Banking and finance

Cameron refuses to join fray on bonuses

Thu, 09/02/2012 - 20:53
Prime minister wants to avoid looming row on bonuses at Barclays, which is about to hand out awards worth a predicted £1.5bn
Categories: Banking and finance

Paris invests in Dexia to salvage lending deal

Thu, 09/02/2012 - 20:37
The French state, the Caisse des Dépôts et Consignations and Dexia Credit Local France will each take a 31.7% stake in Dexia Municipal Agency
Categories: Banking and finance

European banks offer new capital proposals

Thu, 09/02/2012 - 20:18
The measures go beyond regulators’ demands and will cut only a small amount of lending, says a preliminary assessment by the EBA
Categories: Banking and finance

Don’t just blame capitalism, blame the regulators

Thu, 09/02/2012 - 19:01
If capitalists wish to avoid more regulation, they must get behind better governmental oversight., writes Steven Rattner
Categories: Banking and finance
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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