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Finance

Citigroup fined $28.8 million for harm to home borrowers

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WASHINGTON Citigroup Inc mortgage units have been fined $28.8 million for keeping home borrowers in the dark about options to avoid foreclosure and making it difficult for them to apply for relief, the U.S. consumer finance watchdog said on Monday.

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Deutsche Bank fails to end BlackRock, Pimco mortgage debt lawsuit 7:14pm EST

A U.S. judge on Monday narrowed but refused to dismiss a lawsuit seeking to hold Deutsche Bank AG liable to investors, including dozens of portfolios from BlackRock Inc and Pacific Investment Management Co, for losses on poorly underwritten residential mortgage-backed securities.

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JP Morgan sees U.S. telecom sector consolidation, T-Mobile deal 5:39am EST

U.S. telecom sector could be on the brink of a major consolidation under President Donald Trump's likely more merger-friendly administration, said JP Morgan Securities, which now sees a 90 percent chance of T-Mobile US being involved in a strategic transaction in the next five years.

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Morgan Stanley CEO James Gorman's 2016 pay up 7 pct to $22.5 million Jan 20 2017

Morgan Stanley Chief Executive James Gorman's overall pay rose 7 percent in 2016 as the Wall Street bank's stock soared and it edged closer to hitting a key profitability target.

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No 'joke': SocGen admits fault, pays $50 million in U.S. fraud case Jan 20 2017

NEW YORK Societe Generale agreed to pay a $50 million civil fine and admit to misconduct to settle U.S. claims that it fraudulently concealed from investors the poor quality of residential mortgage-backed securities it marketed and sold.

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Morgan Stanley, Citi plan Brexit job moves: sources Jan 20 2017

LONDON/FRANKFURT U.S. banks Morgan Stanley and Citigroup have identified many of the roles that will need to be moved from Britain following its exit from the European Union, sources involved in the processes told Reuters.

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Goldman Sachs rejects Indonesian businessman's $1.1 billion claim over share trade Jan 20 2017

JAKARTA Goldman Sachs has rejected allegations by an Indonesian businessman who is seeking $1.1 billion in damages from the U.S. bank for making what he called "unlawful" trades in the shares of a property firm.

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Exclusive: HSBC cutting around 100 senior banking jobs globally - sources Jan 20 2017

LONDON HSBC has begun cutting around 100 senior jobs in its investment banking division worldwide this week, according to sources with direct knowledge of the matter.

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Wells Fargo to merge international business with wholesale banking Jan 19 2017

Wells Fargo & Co , the third-largest U.S. bank by assets, said on Thursday it would merge its international business with its wholesale banking unit that serves corporate clients.

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JPMorgan CEO Jamie Dimon gets $28 million pay package Jan 19 2017

NEW YORK JPMorgan Chase & Co directors paid Chief Executive Jamie Dimon $28 million in total compensation for 2016, a 4 percent bump from the prior year, the company said on Thursday.