Banking supervisors still stuck on Basel III reforms, as key meeting on capital rules postponed January 3, 2017 A key meeting to sign off on impending changes to banking capital rules has been postponed, after it was revealed today that more time was needed to iron out the final details. The Group of Central Bank Governors and Heads of Supervision (GHOS), the organisation responsible for the oversight of the Basel Committee on Banking Supervision, had [...]
JP Morgan’s Dimon voices concerns on post-Brexit London, as Paris says it is wooing thousands of British bankers January 3, 2017 The boss of one of banking's best known names has hinted he is concerned about the fate of London as financial hub following the Brexit vote. Even before the UK headed to the polls in June, JP Morgan's Jamie Dimon warned that a Leave vote could leave the lender with "no choice" but to reorganise its business model, [...]
13 events that will change the world in 2017: Article 50, Snapchat’s IPO, more Libor trials and a vote on Heathrow January 3, 2017 2017 looks like it's going to be a busy one: we're looking ahead to some of the key business and political events already pencilled in for this year's calendar. 1. Supreme court to rule on Article 50 The Supreme Court is due to deliver its ruling on Gina Miller's case this month (Source: Getty) The Supreme [...]
Global business leaders feeling confident as they enter 2017, but Brexit woes still a bother for UK firms January 3, 2017 Firms are feeling positive as they enter the new year, with figures out today showing optimism among global business leaders is at its highest levels since the third quarter of 2015. The research by professional services firm Grant Thornton found that optimism among the 2,600 businesses across 37 economies it surveyed increased to 38 per cent at the end [...]
Sports Direct shareholders to vote on fate of chairman this week, following investors’ revolt at AGM January 2, 2017 Sports Direct shareholders will meet on Thursday to decide whether the retailer's chairman should keep his seat. Dr Keith Hellawell, a former chief constable in his 70s, failed to find favour with investors in the company's annual general meeting in September, with just 47 per cent of independent shareholders voting to keep him as chair. Although the [...]
Deutsche Bank share price up as merger and bailout rumours shot down January 2, 2017 Shares in Deutsche Bank are trading up today after the German banking giant's chairman silenced murmurs of mergers and bailouts. The share price for the country's biggest bank had a turbulent 2016, particularly after it was revealed in September that the US Department of Justice was considering slapping the lender with a fine of as [...]
Court finds in favour of Royal Bank of Scotland in Libor and interest rate swaps mis-selling claims case December 21, 2016 The High Court has today found in favour of Royal Bank of Scotland as the bank faced claims it had caused a real estate company losses from interest rates swaps mis-selling and Libor manipulation. Manchester-based Property Alliance Group (PAG) was suing the bank for more than £30m, alleging it had been mis-sold four interest rate swap [...]
Monte dei Paschi shares close down 12 per cent on reports its private bailout efforts have flopped December 21, 2016 Shares in Monte dei Paschi di Siena plummeted today on multiple reports its private bailout attempt had met an end. Earlier on today, it was reported that the Italian parliament signed off on government proposals to inject €20bn into the banking sector, with Monte dei Paschi likely to be first in line for some help. Italy's oldest [...]
Goldman Sachs to pay $120m to settle probe into attempted rate-rigging December 21, 2016 Goldman Sachs has been ordered to pay $120m (£96.9m) today to settle a probe into attempts to fix a key benchmark rate. The US Commodity Futures Trading Commission (CFTC) claims the banking giant, on a number of occasions between January 2007 and March 2012, attempted to manipulate the US Dollar International Swaps and Derivatives Association Fix (ISDAFIX) and [...]
