Finance
HSBC allowed drug money laundering, says US Senate report
A US Senate probe has disclosed how lax controls at HSBC, Europe's largest bank, left it vulnerable to being used to launder dirty money...
Credit card companies and major US Banks agree to a $7.25 bn settlement over card fees
Credit card companies Visa and Mastercard and major US banks have agreed to a $7.25 billion settlement to retailers over card fees. The case, which...
JPMorgan Chase doubles its trading loss to $4.4 billion
JPMorgan Chase has raised its estimate of the value of its recent losses from trading in complex financial derivatives to $4.4 billion. The US bank...
China’s growth rate slows to 7.6% in the second quarter
China's economy has grown at its slowest pace in three years as investment slowed and demand fell in key markets such as the US...
Spain to get 30 billion Euros to help its troubled banks
Eurozone finance ministers have decided to lend Spain 30 billion Euros ($37 billion) this month to help its troubled banks. It will be the first...
Spanish and Italian borrowing costs rise ahead of eurozone summit
Italian and Spanish 10-year bond yields have been rising ahead of a summit of eurozone finance ministers on Monday. The yield on Spanish 10-year bonds,...
Bob Diamond, Barclays Bank chief executive, resigns
Bob Diamond, Barclays Bank chief executive, has resigned with immediate effect. The move follows the resignation of chairman Marcus Agius and comes less than a...
Marcus Agius, Barclays Bank chairman, resigns after scandal
Marcus Agius, Barclays Bank chairman, has confirmed his resignation, as the bank promises a "root and branch review" following the inter-bank lending rate-fixing scandal. In...
Bob Diamond, Barclays Bank boss, says he will not resign
Bob Diamond, the boss of Barclays Bank, has insisted he will not resign after staff rigged the key lending rate between banks. Bob Diamond was...
Barclays Bank accused of systematic dishonesty by former chief executive Martin Taylor
Martin Taylor, the former chief executive of Barclays, says the bank has engaged in "systematic dishonesty". It comes after Barclays was fined $450 million for...
Household insurance for smokers
When you apply for home owner's insurance, one of the questions that you'll be asked is whether or not you (or any family member)...
Cyprus to apply for financial assistance from eurozone
Cyprus has told the European authorities that it intends to apply for financial assistance. Cyprus is the fifth eurozone member to do so. It said it...
Moody’s downgrades 15 global banks and financial institutions
Credit ratings agency Moody's has decided to downgrade 15 global banks and financial institutions. In the US, Bank of America and Citigroup were among those...
Heidemarie Schwermer lives without money for 16 years
Heidemarie Schwermer from Germany has lived without money for 16 years following a lifetime of guilt about wealth stemming from her time as a...
Spain’s borrowing costs at new euro-era record after Moody’s cut
Spain's borrowing costs have risen to another euro-era record, with lenders demanding a higher interest rate. The yield on benchmark 10-year bonds hit 7% on...
How would Greece switch to a new currency
Political change within days in Greece may mean the country has to ultimately leave the euro. If that was to happen, how would they go...
Spanish banks deal boosts Euro and stock markets in Asia
The Euro and stock markets have boosted in Asia after a deal to shore up Spain's troubled banks eased concerns about a European currency...
Spain decides to request a loan of up to 100 BN Euros from eurozone to help its banks
Spain's decision to request a loan of up to 100 billion Euros ($125 billion) from eurozone funds to help shore up its struggling banks...
Spanish banks bailout to be discussed by eurozone finance ministers
Eurozone finance ministers are to hold a conference call to discuss a bailout for Spanish banks. EU sources say Madrid could formally request financial assistance...
Facebook shareholders offered $40M by NASDAQ for trading glitch
Facebook investors have been offered $40 million by the NASDAQ stock exchange for a computer hitch that stopped them trading on debut day. Some shareholders...
Investors set their eyes on Europe and stocks follow global markets lower
Signs of economic weakness around the globe and Europe's intensifying debt crisis are unnerving investors, who have been piling out of riskier investments like...
European stock markets up after Greek weekend poll showed support for conservative party
European markets have risen after a weekend poll in Greece showed growing support for a pro-austerity conservative party. The survey suggested the New Democracy party...
Bankia shares trading suspended amid bailout request
Trading in shares in Bankia, Spain's fourth-largest bank, has been suspended in Madrid. Bankia asked them to be suspended ahead of a board meeting this...
Morgan Stanley will pay back investors ripped off by Facebook trades
Amid a flurry of lawsuits over Facebook's IPO, Morgan Stanley, the company’s top underwriter, says it's prepared to pay back investors who were burned...
Mark Zuckerberg and leading Facebook investors cashed out million of shares before the price dropped off
Mark Zuckerberg, Facebook founder and CEO, and leading investors in the company cashed out millions of shares before the price dropped off, according to...
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