Investment Banks’ Revenue Set to Decline Again in 2015: Survey – Reuters Revenue at the world’s 10 largest investment banks is on course to decline again in 2015 by two percent to $148 billion compared to a year ago, although a strong showing in equities will limit the fall, a survey on Tuesday showed.
Citic Knew Derivatives Risk, Hearing Told – Financial Times It was HSBC that first proposed the derivatives that lost Citic $2bn in 2008 on mistimed Australian dollar bets, a tribunal heard on Monday, as the Chinese conglomerate and five directors faced a market misconduct hearing for not sooner disclosing the losses.
Yuan’s Adventure Abroad Stumbles in London – Wall Street Journal (subscription) London businesses resist accepting Chinese currency.
Unless States Spur Growth ECB Can Only Blow Bubbles – Financial News (subscription) The eurozone is experiencing what we at Pimco like to call a “rock solid” recovery. The solidity is there, the trouble is that the pace is a bit too rock-like.