News

Two of the world's largest banks suspended, or put on leave, traders in London and New York yesterday as part of an investigation into alleged manipulation of the trillion-dollar currency market.

Jobs threat as 'Egg' set to be broken up

One of the UK's first and best-known internet banks was broken up today in a move threatening up to 600 jobs.

EMI suitors line up to look at its books

Len Blavatnik's Access Industries, Sony Music Entertainment and Vivendi's Universal Music Group are among the music companies and private equity firms interested in buying the music group EMI.

Goldman to cut 1,000 jobs as trading plunges

Goldman Sachs will lay off 1,000 staff before the end of the year, amid sharp falls in trading activity.

City's campus project buys club breathing space

Sponsorship opportunities created by 80-acre east Manchester development can wipe out huge losses

The Business On... Simon Borrows, Chairman, Greenhill

Do I know him?

Citigroup trader 'paid $19m into own account'

An employee at Citigroup transferred more than $19m of the bank's money to his own account last year without anyone noticing, it was alleged in a criminal filing yesterday.

Premier raises Dorset oil stake

Premier Oil has agreed to pay $110m (£68m) to increase its stake in the Wytch Farm oil fields in Dorset, boosting its reserves at what it said was an inexpensive price.

EMI back on the market as Citigroup seeks exit strategy

EMI, the record label whose artists include Tinie Tempah and Gorillaz, has been officially put up for sale by its investment banking owner, Citigroup, which seized control of the group earlier this year.

Stephen Foley: Calm down – despite the data breaches, there's little actual fraud on the cards

US Outlook: News of arrests in Spain of people believed to part of the hacker group Anonymous, responsible for attacks on Sony and MasterCard in recent months, comes on the heels of another big data breach here in the US. This time it was Citigroup that said its computers had been compromised, with hackers gaining access to credit card details of 200,000 North American customers. It is having to issue new cards.

City fishes for clues in Kingfisher figures

B&Q-owner Kingfisher is under the spotlight this week, with city-watchers looking for clues on consumer demand from the group's first-quarter figures. B&Q is expected to see like-for-like sales grow around 1.5 per cent, with France expected to be the major cause of that growth.

The ancient British bank that breeds blue-chip chairmen

Schroders, founded in 1804, sold up to Citigroup in 2000, but its alumni keep popping up in the FTSE 100. Sean Farrell reports

London trader's email 'damaged Greek economy'

A London trader is expected to be questioned by police after being accused by the Greek authorities of sending an email designed to stir up rumours of a plan to restructure debt in the embattled country.

Citigroup records profit of $3bn

Citigroup, the banking giant that twice had to be bailed out by the US taxpayer, recorded a $3bn profit in the first three months of 2011, but only because it was able to release $3.3bn previously set aside to cover bad loans. The improving prospects for payback on consumer loans accounted for $2bn of that figure.

News
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