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Finance

Royal Bank of Scotland pays $4.9 billion for crisis-era misconduct

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WASHINGTON Royal Bank of Scotland will pay $4.9 billion to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008, the U.S. Justice Department said on Tuesday.

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Goldman shareholders can again pursue class action over CDOs Aug 14 2018

NEW YORK A federal judge on Tuesday said Goldman Sachs Group Inc shareholders may again pursue class-action claims that the bank concealed conflicts of interest when creating risky subprime securities before the 2008 financial crisis.

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Berkshire boosts Goldman, Teva stakes; buys more Apple Aug 14 2018

Warren Buffett's Berkshire Hathaway Inc boosted its investments in Goldman Sachs Group Inc and Israel's Teva Pharmaceutical Industries Ltd during the second quarter and confirmed it has expanded its already huge bet on iPhone maker Apple Inc .

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Tech still all the rage while bears prowl emerging markets: BAML survey Aug 14 2018

LONDON Global investors remain overwhelmingly bullish on U.S. and Chinese tech shares, while short positions on emerging equities are growing increasingly popular, Bank of America Merrill Lynch's latest monthly fund manager survey showed on Tuesday.

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Musk says Silver Lake, Goldman advising on taking Tesla private Aug 14 2018

Tesla Inc Chief Executive Elon Musk tweeted on Monday that he was working with buyout firm Silver Lake and investment bank Goldman Sachs Group Inc as financial advisers on his plan to take the U.S. electric car maker private. | Video

Former Transmar executive sentenced to three years prison for fraud Aug 13 2018

NEW YORK Former Transmar Commodity Group Ltd chief executive Peter G. Johnson was sentenced to three years in prison on Monday after he pleaded guilty to defrauding banks in order to win a $400 million credit line for the now bankrupt New Jersey-based cocoa trading company, prosecutors said.

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Citigroup shakes up consumer bank and card chief leaves Aug 13 2018

NEW YORK Citigroup Inc restructured its consumer bank on Monday, elevating one executive and triggering the departure of another, as the third-biggest U.S. bank moved to improve results.

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Barclays shifting ownership of European branches to Irish unit ahead of Brexit: sources Aug 13 2018

LONDON Barclays has begun shifting direct ownership of its French, German and Spanish branches from a British-based entity to its Irish bank, according to sources with direct knowledge of the plans, ahead of Britain's exit from the European Union.

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Goldman Sachs sued by ex-managing director who said he was whistleblower Aug 09 2018

NEW YORK Goldman Sachs Group Inc was sued on Thursday by a former managing director who said the Wall Street bank retaliated against him and fired him after he complained about its dealings with an unidentified, "notorious European businessman."

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HSBC shifts European branches to French unit control ahead of Brexit Aug 08 2018

LONDON HSBC has shifted ownership of its Polish and Irish subsidiaries from its London-based entity to its French unit, and will do so for seven more European branches, as it prepares for Britain's exit from the European Union.