Britain and Japan have urged the United States to rewrite its so-called “Volcker rule”, saying that trading restrictions on U.S. banks could hit the international sovereign debt market at a delicate moment in the global recovery.
The German government is set to resist or delay increasing the size of the euro zone’s financial “firewall” against contagion from the Greek debt crisis, in the face of mounting pressure from its partners, the International Monetary Fund and the U.S. administration.
The Serious Fraud Office has admitted to “very regrettable errors” and failures in the way it handled its case against property tycoon Vincent Tchenguiz.
Arion, the bank created from the assets of failed Kaupthing, has established a 1 billion euro ($1.32 billion) international covered bond programme, the first by an Icelandic lender since the country’s banking crisis.
Increases to the fixed salaries paid to Royal Bank of Scotland’s investment bankers last year will largely offset cuts to their bonus pool.
Sir Stelios Haji-Ioannou is planning to launch his new airline venture in West Africa in the coming months with up to 15 jets in what may eventually become an African version of EasyJet, the UK low-cost carrier he founded.
Alessandro Profumo, former chief executive of UniCredit and one of Italy’s most high-profile bankers, is the leading candidate to take over as chairman of Monte dei Paschi di Siena, the country’s third-largest bank by assets.
A group of senior Morgan Stanley managing directors, each with an average 25 years at the bank, has broken away to form an advisory boutique in a move that underscores the difficulties large securities firms are facing in dealing with clients, staff and regulators.