Financial technology in the next 10 years is threatening employees of banks and financial institutions, according to the latest projections of Citigroup. As much as 30 percent of current employees of banks may lose their jobs as a consequence.
JPMorgan Chase is taking the necessary steps after its illegal methods of collecting debts from its card holders have been exposed. The nation's largest bank is now willing to pay $100 million just to settle the lawsuit that sprang from its controversial debt-collecting gesture.
Standard Chartered (STAN.L) said it continued to keep its domicile under review, particularly given the likelihood Britain's bank tax will continue to rise, raising the prospect it could leave London for Asia.
European Central Bank staff have prepared a proposal to increase the haircut on the security that Greek banks offer in return for emergency liquidity, Bloomberg reported on Tuesday, citing people with knowledge of the discussions.
Hints that U.S. regulators could veto Comcast Corp's proposed $45 billion takeover of Time Warner Cable Inc have investment bankers worried about whether they will get paid, with smaller advisory firms particularly on edge.
China's central bank on Sunday cut the amount of cash that banks must hold as reserves, the second industry-wide cut in two months, adding more liquidity to the world's second-biggest economy to help spur bank lending and combat slowing growth.
The European Union is looking at creating rules on how to deal with financial firms outside the banking industry that run into trouble, including clearing houses, insurers and asset managers, the EU's financial services chief said on Friday.
Bank of America Corp, the No. 2 U.S. bank by assets, posted a first-quarter profit, narrowly beating analysts' estimates, as legal costs fell steeply and the bank earned more from mortgage lending and investment and brokerage services.
Citigroup Inc (C.N) is looking for a buyer for its retail forex brokerage CitiFX Pro as part of efforts to streamline the banking world's biggest currency trading operation, a source familiar with the situation told Reuters on Tuesday.
Asia-focused bank Standard Chartered Plc (STAN.L) said senior executive Viswanathan Shankar had quit and announced a number of management changes in another reshuffle as it seeks to turn around its fortunes.
Japan is split over joining a China-led development bank, concerned about missing out on the rapidly coalescing global movement for the institution while also worried about alienating ally United States and helping bolster rival China, officials said.