LONDON - Most of Europe's big banks shed risky assets in the quarter to September, but they have yet to take extra provisions against doubtful loans to show they have put the financial crisis behind them in time for a critical review by regulators.
Recent Business News
- Internal JPMorgan Chase & Co emails and computer files being examined by U.S. authorities show that the bank favored hiring people from prominent Chinese families in order to win investment banking business, the New York Times reported on Saturday.
- A U.S. federal judge has refused to allow investors to proceed as a group in a lawsuit accusing BP Plc of fraud by misleading them - before and after the 2010 Gulf of Mexico oil spill - about the company's ability to respond to an accident.
- A former SAC Capital Advisors trader, set to go on trial next month on insider trading charges, wants to cite in court some 2012 testimony given by the hedge fund's founder Steven Cohen, claiming it rebuts the government's case.
BEIJING - Chinese regulators will clamp down on banks' and companies' use of foreign currency for trade finance by ensuring that trade deals are authentic and by monitoring for unusual cross-border cash flows, state media reported.
Today's jobs report showed that the US economy added 203,000 jobs in November, and the unemployment rate fell to 7.0% for the first time since recession.