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Updated: 1 hour 5 min ago
Goldman Sachs cuts chief executive’s bonus
Executive compensation has become a thorny issue for banks which have cut jobs or been given state aid
Categories: Financial services
Volatility and weaker client trading hit Investec
The South African banking group says that troubled markets had pulled its operating profit down by more than 5% in the nine months to December
Categories: Financial services
New York Fed weighs fresh securities auction
Decision due in days on whether to sell bundled mortgage securities acquired during the AIG bail-out after successful Maiden Lane sale
Categories: Financial services
Carlyle removes class-action clause
Group backs down after legal strategy provokes letter from senators amid opposition from investors and corporate governance activists
Categories: Financial services
Church of England doubles hedge fund investments
Anglican portfolio now among biggest investors despite public anger about excess in industry notorious for eye-watering pay packages
Categories: Financial services
ETFs: engine trouble
The fall in volumes should not deter regulators from getting a better grip on these products, particularly the synthetic variety
Categories: Financial services
Plus Markets starts looking for buyers
The Aim-quoted bourse, which is home to some 159 companies, has experienced continuing losses and dwindling listings in recent years
Categories: Financial services
EC block clouds outlook for big exchange mergers
Rejection of the Deutsche Börse-NYSE Euronext plan reflects strong antitrust sentiment against such businesses wielding greater market power
Categories: Financial services
Flashpoints ahead for RBS pay committee
Pressure to keep bank’s bonus pool below £500m this year compared to nearly £1bn 12 months ago
Categories: Financial services
Swiss probe 12 banks over Libor allegations
Investigation into lenders in US, Europe and Japan, including UBS, Deutsche Bank, RBS and Citigroup
Categories: Financial services
RBS fights Libor dismissal claim by trader
Bank says former Singapore employee was guilty of gross misconduct for ‘improperly influencing’ rate setting
Categories: Financial services
Spain caps senior pay at bailed-out banks
Executives limited to €600,000 a year, in some cases cutting bankers’ income by three-quarters
Categories: Financial services
Funds seek broader choice
Some providers want tailor-made indices or are developing their own inhouse
Categories: Financial services
Institutions warm to leveraged and inverse funds
Interest among institutional investors is growing for leveraged and inverse ETFs
Categories: Financial services
Roles include buying gold and reducing risk
2011 was a year of two halves as investors switched from equities
Categories: Financial services
Regulation: Debate has some way to go
The regulatory focus has been beneficial because it has broadened understanding of the ETFs industry and raised questions about all investment funds
Categories: Financial services
War of words mars year of contrasting fortunes
Amid arguments over opacity and almost zero growth, there were winners and losers
Categories: Financial services
Europe in good position to play catch-up with US
The RDR should spur ETF growth in UK, but change will be slower elsewhere
Categories: Financial services
Xstrata deal reveals perfect price on Glencore IPO
The proposed $88bn merger endorses Glencore’s much-criticised $10bn, 530p a share flotation, showing that the IPO price was right
Categories: Financial services
Risky debt use on repo market hits 2008 levels
The use of lower-rated debt in a key US funding market has returned to pre-crisis levels, fuelling fears that the so-called shadow banking system is becoming riskier
Categories: Financial services
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