A US appeals court on Monday reinstated a civil lawsuit accusing 16 major banks of conspiring to manipulate the Libor benchmark interest rate. The ruling, which overturns a 2013 decision, could bankrupt the institutions, the judges warned.
Sterling has racked up a hefty morning rise, climbing 0.5 per cent against the dollar after a poll in the Telegraph showed the ‘remain’ camp building a decisive lead in the EU referendum campaign.
The near victory of the far-right in Sunday’s Austrian elections is a symptom of the rise of populism in Europe, experts said on Tuesday, warning that the move towards the right held risks for investors and the broader euro zone economy.
The Australian dollar fell to a 2-1/2-month low on Tuesday on talk that the Reserve Bank of Australia (RBA) might cut interest rates again this year, after its governor said the central bank was committed to inflation-targeting policy.
A day before Tuesday’s crucial Eurogroup, the International Monetary Fund issued its own Debt Sustainability Analysis (DSA), proposing measures that could reduce the Greek national debt by up to 50 percent of gross domestic product up to 2060, while making it clear that the existing targets of the Greek program cannot be implemented
The National Futures Association (NFA) has announced that its president and CEO, Daniel Roth, will retire in the coming year.
At first glance, the SEC’s insider trading settlement with professional golfer Phil Mickelson is noteworthy if only because of Mickelson’s celebrity status and the press coverage it has generated.
Hong Kong Exchanges and Clearing Limited (HKEX) has received regulatory approval to introduce its planned cash-settled EUR/RMB, JPY/RMB, AUD/RMB and RMB/USD futures on Monday, May 30.
Singapore ordered BSI’s operations in the city-state to close, as Switzerland started criminal proceedings against the private bank, in the biggest international crackdown on financial entities dealing with a troubled Malaysian state fund.
Tudor Investment Corp., one of the oldest and most expensive hedge funds, is trimming fees as the finance industry’s highest-paid money managers face a growing backlash over their lackluster performance.
The credit rating agency Moody’s has cut Deutsche Bank’s debt rating for the second time this year, arguing that the German bank faces “increased challenges” in pulling off its turnround plan.
Old Mutual is close to a deal to sell its US asset management business to New York-listed Affiliated Managers Group as part of its radical restructuring plan.
The world’s 12 largest investment banks endured their slowest start since the financial crisis, in what’s typically their most lucrative period.
CBOE Holdings, the US derivatives exchange, is to take a minority stake in Eris Exchange, providing a capital injection for its fledging rival to develop a series of new contracts for trading interest rates.
Hackers may have targeted more banks than have been previously reported, according to prepared remarks by the chief executive officer of Swift, the global interbank messaging system is set to give on Tuesday.
The commodities market has turned a corner and prices are unlikely to return to lows hit in the first quarter, according to Citigroup Inc., which boosted forecasts from metals to grains amid the oil-led recovery.
Charlene Chu, a banking analyst who made her name warning of the risks from China’s credit binge, said a bailout in the trillions of dollars is needed to tackle the bad-debt burden dragging down the nation’s economy.
Prime Minister Shinzo Abe is hoping to get some help from his Group of Seven friends this.
The dollar rallied and crude oil fell with gold and most industrial metals as speculation mounted that the Federal Reserve will raise interest rates as early as next month. European stocks rose.