Finance

U.S. Said to Seek More Than $10 Billion Penalty From BNP

2014-05-30 09:35:40

U.S. authorities are seeking more than $10 billion from BNP Paribas SA (BNP) to settle federal and state investigations into the lender’s dealings with sanctioned countries including Sudan and Iran, according to a person familiar with the matter.

Apple Agrees to Buy Beats Electronics for $3 Billion

2014-05-29 09:42:30

Apple Inc. (AAPL) agreed to buy Beats Electronics LLC for $3 billion, its biggest-ever acquisition, nabbing a popular line of headphones and a nascent subscription music-streaming service as the iPhone maker seeks to rev up growth.

JPMorgan’s Pinto Shuffles Deputies, Names Hernandez Unit Co-Head

2014-04-08 08:55:29

JPMorgan Chase & Co. (JPM) named Carlos Hernandez co-head of global banking with Jeff Urwin as corporate and investment-banking chief Daniel Pinto overhauls the division’s leadership.

JPMorgan Folds London Whale Office Into Another Unit

2014-04-04 09:51:48

JPMorgan Chase & Co. (JPM), the biggest U.S. bank by assets, said its operation that produced a $6.2 billion trading loss in 2012 will be merged with another business unit.

JPMorgan Folds London Whale Office Into Another Unit

2014-04-04 09:51:29

JPMorgan Chase & Co. (JPM), the biggest U.S. bank by assets, said its operation that produced a $6.2 billion trading loss in 2012 will be merged with another business unit.

JPMorgan Folds London Whale Office Into Another Unit

2014-04-04 09:51:17

JPMorgan Chase & Co. (JPM), the biggest U.S. bank by assets, said its operation that produced a $6.2 billion trading loss in 2012 will be merged with another business unit.

China Construction Bank Profit Beats Estimate on Margins

2014-03-31 10:50:22

China Construction Bank Corp. (939), the nation’s second-largest lender by market value, posted profit growth that beat expectations as lending margins widened.

Madoff Aides Convicted in $17.5 Billion Ponzi Trial After Decades Working for Firm

2014-03-25 13:24:38

Five former aides to Bernard Madoff who spent decades working for his firm were found guilty of helping run the biggest Ponzi scheme in U.S. history, a $17.5 billion fraud exposed by the 2008 financial crisis.

Fed Revises Worst-Case Stress-Test Results for Biggest Banks

2014-03-22 09:45:32

The Federal Reserve corrected figures released yesterday for at least 15 of the 30 biggest U.S. banks in an annual stress test, without changing how many fell below minimum requirements under a worst-case scenario.

BofA, Citigroup, Credit Suisse Sued by FDIC Over Libor

2014-03-15 10:32:09

Bank of America Corp., Citigroup Inc. (C) and Credit Suisse Group AG (CSGN) were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011.

Ping An Profit Jumps as Premiums Expand and Banking Income Grows

2014-03-14 11:27:44

Ping An Insurance (Group) Co. (2318), China’s second-biggest insurer, said profit rose 40 percent last year as premiums and banking revenue grew and investment returns improved.

Singapore to Regulate Bitcoin Operators for Laundering Risk

2014-03-14 11:23:59

Singapore plans to regulate virtual-currency intermediaries including operators of Bitcoin exchanges and vending machines to address potential money-laundering and terrorist-financing risks.

Paschi Posts Seventh Straight Loss on Costs, Provisions

2014-03-12 15:59:19

Banca Monte dei Paschi di Siena SpA, the bailed out Italian bank seeking to raise 3 billion euros ($4.2 billion) in a share sale, reported a seventh straight quarterly loss on provisions and restructuring costs.

Wall Street Plays 2016 Dating Game as Christie Stumbles

2014-03-12 15:58:31

Billionaire Wilbur Ross invited Paul Ryan over for lunch. Goldman Sachs (GS) Group Inc. and Wells Fargo & Co. (WFC) bankers met with Rand Paul at a fundraiser in Atlanta. Investor Rob Arnott dropped in on Ted Cruz.

Korea Banking to Remain Challenged, Standard Chartered Says

2014-03-06 11:04:34

South Korea, where Standard Chartered Plc (2888) has written down $1 billion from its domestic unit, will “remain challenged” in the near term, said Jaspal Bindra, head of the lender’s Asian business.

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