Embattled Wells Fargo & Co plans to eliminate sales goals for its retail banking business sooner than planned, according to prepared remarks its chief executive officer will deliver at a congressional hearing on Thursday. | Video
SAN FRANCISCO California State Treasurer John Chiang on Wednesday announced a sweeping suspension of business relationships with Wells Fargo & Co as punishment for the company's defrauding of customers.
FRANKFURT The German government denied that it was working on a rescue of Deutsche Bank after a newspaper report about such plans fueled fears over the future of the biggest lender in Europe's largest economy. | Video
LONDON Credit Suisse Chief Executive Tidjane Thiam said on Wednesday that his bank was relatively well placed to deal with the impact of Britain's vote to leave the European Union.
Embattled Wells Fargo & Co plans to eliminate sales goals for its retail banking business sooner than planned, according to prepared remarks its chief executive officer will deliver at a congressional hearing on Thursday.
LONDON Trading in Deutsche Bank's so-called 'CoCo' bonds in September has soared to levels more than seven times those of the previous month as Germany's biggest lender struggles to allay investors' concerns over its funding needs.
FRANKFURT The German government and financial authorities are preparing a rescue plan for Deutsche Bank in case the lender would be unable to raise capital itself to pay for costly litigation, German weekly Die Zeit reported.
FRANKFURT Deutsche Bank shares hit a record low on Tuesday and state-backed lender NordLB scrapped plans for a 500 million euro ($560 million) bond sale, underlining investor concern about the health of the financial industry in Europe's largest economy. | Video
LONDON/WASHINGTON Standard Chartered has told "appropriate authorities" about alleged corruption at an Indonesian power plant company majority-owned by its private equity arm, the bank said.
NEW YORK Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said.