Finance

Dijsselbloem rejects calls for looser banking rules

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AMSTERDAM Eurogroup chairman Jeroen Dijsselbloem rejected calls for banking union regulations to be loosened after weeks of falling bank shares, saying new European bail-in rules had caused investors to look "more critically" at risks born by banks.

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Bank of America chief Moynihan gets 23 percent pay hike 12 Feb 2016

Bank of America Corp raised Chairman and Chief Executive Officer Brian Moynihan's compensation by 23 percent in 2015, a year the bank more than doubled its profits.

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Morgan Stanley to pay $3.2 billion to settle financial crisis-era charges 11 Feb 2016

WASHINGTON Morgan Stanley will pay about $3.2 billion to settle charges that it misled investors in residential mortgage-backed securities that later soured during the financial crisis, federal and state officials said Thursday.

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Thomson Reuters beats EPS forecast, sees 2016 revenue growth 11 Feb 2016

Thomson Reuters Corp reported higher-than-expected quarterly profit on Thursday, benefiting from lower costs and tax savings, and said it expects its revenue to grow by low single digits in 2016.

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HSBC drops plan for 2016 pay freeze in speedy backpedal 11 Feb 2016

LONDON HSBC , Europe's largest bank, has dropped plans to freeze pay this year, according to a memo by Chief Executive Stuart Gulliver seen by Reuters, reversing a cost-cutting decision made less than two weeks ago.

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Nomura CEO aims to finally crack U.S. with shift to M&A advisory 10 Feb 2016

TOKYO Nomura Holdings Inc plans a shift in focus in the United States toward client-oriented services from market-based trading, the chief executive said, in its latest attempt to establish a profitable business in a major overseas economy.

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HSBC money laundering report's release likely delayed: U.S. judge 10 Feb 2016

NEW YORK A U.S. judge said Tuesday that he would likely delay the release of a report detailing how well HSBC Holdings Plc has complied with anti-money laundering requirements until a federal appeals court could weigh in.

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Banks eye more cost cuts amid global growth concerns 09 Feb 2016

Goldman Sachs Group Inc and other U.S. banks are looking at ways to slash expenses further this year as market turmoil, declining oil prices and concerns about Germany's Deutsche Bank AG have sent the sector's shares down sharply.

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No easy way out for Deutsche Bank as investors 'lose faith' 09 Feb 2016

FRANKFURT Deutsche Bank bosses face a formidable task to drag its shares off a 30-year low, with reassurances about its capital levels doing little to improve investor confidence and few other options on the table to trigger a recovery.

Credit Suisse chips away at bonus deferral fetish 08 Feb 2016

LONDON (Reuters Breakingviews) - Credit Suisse's higher fixed costs are one of several unintended consequences of the new rules governing banker pay. The Swiss bank is shrinking the proportion of annual bonuses it defers to 41 percent, from well over half in 2013. There's a clear rationale: boss Tidjane Thiam is trying to cut expenses, yet he can barely clamp down on pay because of awards made in previous years that keep coming due.