EU watchdogs are preparing to impose multi-million euro fines on six banks, including Royal Bank of Scotland and HSBC, where traders are suspected of having tried to manipulate Euribor interest rates.
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Friday 22 August 2008
The Financial Services Authority has told investment banks to improve checks to prevent mis-pricing of trading positions and to stop firing staff who work in valuation control functions.
Tuesday 29 July 2008
Merrill Lynch, the investment banking giant that has lost more than $40bn (£20.1bn) on its mortgage investments since the start of the credit crisis, shocked Wall Street last night with plans to raise $8.5bn in new shares.
Saturday 31 May 2008
Accusations of price manipulation in the soaring market for jet fuel are among dozens of allegations being investigated by commodities regulators in the United States, where the public and politicians have rounded on "speculators" for driving up the cost of oil and everyday inflation.
Monday 26 May 2008
The Chicago Mercantile Exchange is fighting to save its $9.1bn takeover of the Nymex, the historic home of oil trading in New York, in the face of trader opposition, shareholder lawsuits and an inexorable decline in the value of its offer.
Sunday 25 May 2008
Sunday 06 April 2008
Redd was a jobbing hard-bop pianist and composer blessed with, in bop terms, a heavenly ear for a "chewn".
Friday 07 March 2008
Lehman Brothers, the Amer-ican investment bank, has suspended two equity trad-ers in London after its internal controls showed up issues related to share valuations.
Sunday 03 February 2008
Banks across the City of London have launched urgent reviews of their security procedures in the wake of the Société Générale scandal.
Friday 01 February 2008
BNP Paribas yesterday gave its first hint that it may bid for Société Générale since its arch rival became vulnerable to takeovers in the wake of last week's rogue trading scandal.
Sunday 27 January 2008
Eat your heart out, Nick Leeson. Your place in the annals of financial fraud has been trumped by a trader at Société Générale who has cost his bank €5bn (£3.7bn), and who may yet cause France's second-biggest bank to lose its independence. The predators are already prowling, with France's BNP Paribas, which has tried for years to merge with SocGen, the favourite.
Thursday 24 January 2008
The second biggest bank in France today admitted it had lost 4.9 billion euros (£3.7bn) at the hands of a rogue trader in one of the biggest banking frauds in history.
Saturday 10 June 2006
Wednesday 31 May 2006
Two profits warnings in its first six months as a listed company have made the management at the soft drink makerBritvic about as popular in the City as an outbreak of the plague. That may be about to change, though, with the French private-equity group PAI poised to make an offer worth 280p per share.
Sunday 28 May 2006
Wednesday 24 May 2006
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