Edition:
United States

Finance

Goldman Sachs to have Labour over for tea as City seeks warmer ties

Photo

LONDON The British Labour Party's would-be finance minister, John McDonnell, has accepted an invitation for talks at the Wall Street bank Goldman Sachs as it seeks better relations with a political party whose leaders have pilloried bankers.

Photo

Zurich becomes Australia's biggest life insurer with $2.1 billion ANZ purchase Dec 11 2017

ZURICH/SYDNEY Zurich Insurance has agreed to buy Australia and New Zealand Banking Group's life insurance arm for A$2.85 billion ($2.1 billion), its biggest foray into Australia and its third in the last two years.

Photo

HSBC draws line under Mexican cartel case after five-years on probation Dec 11 2017

LONDON HSBC drew a line under its punishment for lapses in anti-money laundering controls on Monday, saying the U.S. Department of Justice (DoJ) would end its deferred prosecution agreement, lifting the threat of further penalties.

Photo

Japan's SMBC Nikko poised to poach bankers in push for U.S. growth Dec 11 2017

TOKYO Sumitomo Mitsui Financial Group Inc's brokerage unit is ready to poach bankers to expand its U.S. investment banking arm and could even buy small firms if the right target comes up, its chief executive said.

Photo

Trump says fines against Wells Fargo could be increased Dec 08 2017

WASHINGTON/NEW YORK President Donald Trump took aim at the third-largest U.S. bank on Friday, writing on Twitter that government fines and penalties against Wells Fargo & Co could be hiked amid an ongoing sales scandal. | Video

Photo

Deutsche Bank can cope with Basel III outcome: CFO in paper Dec 08 2017

BERLIN Deutsche Bank is able to cope with the stricter capital rules on banks that were agreed this week, its finance chief told a German paper.

Photo

Exclusive: Wells Fargo sanctions are on ice under Trump official - sources Dec 08 2017

WASHINGTON The new acting head of the U.S. consumer finance watchdog is reviewing whether Wells Fargo & Co should pay tens of millions of dollars over alleged mortgage lending abuse, according to three sources familiar with the dispute. | Video

Photo

RBS CEO says U.S. settlement could slip into next year: Bloomberg Dec 08 2017

LONDON Royal Bank of Scotland's chances of reaching a deal this year with the U.S. Department of Justice over its mis-selling of toxic mortgage-backed securities are "diminishing", its chief executive said in a Bloomberg TV interview.

Photo

JPMorgan's Dimon taking customer pricing hints from Amazon Dec 08 2017

NEW YORK JPMorgan Chase & Co expects to offer more price discounts to its banking customers who buy multiple products, similar to the way Amazon.com gives extras to its Prime subscribers, chief executive Jamie Dimon said on Thursday.

Photo

Morgan Stanley fires former U.S. lawmaker for misconduct Dec 07 2017

NEW YORK Morgan Stanley fired former U.S. Democratic lawmaker Harold Ford, Jr., a managing director at the Wall Street bank, for inappropriate conduct related to an undisclosed event, a spokeswoman said on Thursday.