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Finance

RBS to close small firms redress scheme to new claims

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LONDON Royal Bank of Scotland said a scheme to compensate small firms hurt by its restructuring unit will close to new complaints after it paid out just 10 million pounds ($13 million) so far for direct losses.

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U.S. regulatory panel gives Zions Bancorp green light to shed Fed oversight Jul 18 2018

WASHINGTON A top U.S. regulatory panel on Wednesday said it had preliminarily approved Zions Bancorp's petition to shed Federal Reserve oversight on the basis it is not systemically important to the U.S. financial system, in a further sign of regulatory easing.

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Farnborough rolls out stealth orders for commercial jets Jul 18 2018

FARNBOROUGH, England The Farnborough Airshow is typically one of the world's most publicity-focused business events, with plane giants and airline bosses battling to win headlines for deals signed under the roar of stealth fighter displays.

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Morgan Stanley boss Gorman hits out at Fed stress tests Jul 18 2018

Morgan Stanley's top executive criticized the Federal Reserve's annual health checks of the biggest U.S. lenders and predicted changes to the tests going forward after his bank reported better-than-expected quarterly earnings on Wednesday. | Video

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Morgan Stanley CEO declares broker recruiting wars over Jul 18 2018

NEW YORK A subtle peace has emerged in Wall Street's long-running broker recruiting wars, Morgan Stanley Chief Executive Officer James Gorman said on Wednesday.

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Next Goldman CEO to take on old problems, new businesses Jul 17 2018

NEW YORK Goldman Sachs Group Inc named David Solomon as its next chief executive officer on Tuesday, ushering in a new era for the Wall Street bank as it expands into different businesses and revamps familiar ones. | Video

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Goldman Sachs pressed on strategy as new CEO confirmed Jul 17 2018

Goldman Sachs Group Inc was pressed for details on new businesses after an uneven second-quarter performance, a likely preview of challenges incoming Chief Executive David Solomon will face as he leads the Wall Street bank's overhaul. | Video

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JPMorgan Chase invests in artificial intelligence startup Volley Jul 17 2018

NEW YORK JPMorgan Chase & Co has made a strategic investment in Volley.com, a San Francisco-based startup that uses artificial intelligence to help large enterprises automatically generate training content for employees, the companies said on Tuesday.

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Bank of America profit beats on consumer loan growth, lower expenses Jul 16 2018

Bank of America Corp reported quarterly profit above analyst expectations on Monday as the second-largest U.S. lender cut expenses and benefited from growth in loans and deposits on the back of a strengthening economy. | Video

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Oil's 4 percent tumble weighs on energy shares; banks rally Jul 16 2018

NEW YORK The price of oil tumbled more than 4 percent on Monday, putting pressure on energy shares and keeping global stock markets in check, although financial shares rallied after upbeat news from Bank of America and Deutsche Bank. | Video