Stephen Foley

Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.

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Bank of America back on track after cost cuts

Bank of America, the US financial giant that twice had to be bailed out by American taxpayers, yesterday claimed it was firmly back on the road to health, thanks to several rounds of vicious cost-cutting by Brian Moynihan, its chief executive.

Top HSBC boss David Bagley quits over money laundering

Senior executive resigns over 'polluted culture of profit'

David Bagley, who quit as head of compliance yesterday, and Paul Thurston, head of HSBC Retail

Accused: HSBC in the dock

How could the British bank allow itself to become a conduit for 'drug kingpins and rogue nations'?

Yahoo poaches Marissa Mayer from Google to take over as CEO

Yahoo electrified Silicon Valley and its own 12,000-strong workforce last night by poaching Marissa Mayer, one of the earliest and most famous employees of its arch-rival Google, to be the company's new chief executive.

Irene Dorner, chief executive, HSBC North America

Spotlight on: Irene Dorner, chief executive, HSBC North America

"Spotlight on" is right.

Indeed. HSBC's North American supremo can expect a harsh interrogation from members of Congress today when she appears before a Senate committee.

HSBC faces grilling over US money laundering

Murderous Mexican drug cartels, financiers of terrorist organisations, tax exiles with Cayman Island bank accounts, and suspicious Russians who claimed to be in the used car business – all of them used HSBC to launder money through the United States, according to a damning Congressional report out today.

Citigroup still counting credit crisis cost

The legacy of the credit crisis continues to weigh on Citigroup, the US banking giant's latest quarterly results showed.

Vincent Legrend Walters: He had been selling timeshare holiday apartments at Cancun airport

US 'drugs killer' is apprehended in Mexico after 24 years on run

For years, millions of pleasure-seeking Americans filed through Cancun airport past a smiling, joking man trying to sell them timeshare apartments in the Mexican resort, little realising that the man who called himself Oscar Rivera was in fact one of the US's most wanted fugitives.

US bank bosses set for tough Libor questions

This week's earnings reports to put American managers in the dock

America wakes up to the Libor scandal

US lawyers and politicians are belatedly stirring, says Stephen Foley in New York
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He's behind you, dude!

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