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French court cuts damages owed by rogue trader Jerome Kerviel

A French appeals court has cut the amount of damages owed by trader Jerome Kerviel to his former employer Societe Generale to a million euros.

A French appeals court has cut the amount of damages owed by trader Jerome Kerviel to his former employer Societe Generale to a million euros.

Business

Bank of Japan changes stimulus policy, denies it's running out of options

The Bank of Japan is changing tack as it tries to get the economy growing again with an increased emphasis on the amount of interest paid to investors who buy government bonds.

The Bank of Japan is changing tack as it tries to get the economy growing again with an increased emphasis on the amount of interest paid to investors who buy government bonds.

News

Eight years on - the collapse of Lehman Brothers

US investment bank Lehman Brothers collapsed on September 15, 2008, sparking the the global financial crisis, the effects of which the world is still feeling.

US investment bank Lehman Brothers collapsed on September 15, 2008, sparking the the global financial crisis, the effects of which the world is still feeling.

News

Spain's taxpayers will never get most of bank bailout money back - report

Spain's government has reportedly admitted it will never get back much of the more than 50 billion euros used to bail out the countries' banks according to a report the newspaper El Pais.

Spain's government has reportedly admitted it will never get back much of the more than 50 billion euros used to bail out the countries' banks according to a report the newspaper El Pais.

Business

More massive losses at Royal Bank of Scotland

Royal Bank of Scotland has sunk deeper into the red and said it is likely to take even longer than expected to return to profit.

Royal Bank of Scotland has sunk deeper into the red and said it is likely to take even longer than expected to return to profit.

News

Bank of England fights Brexit vote slowdown with stimulus

Britain's central bank has unveiled a series of stimulus measures to help protect the economy from the effects of the vote to leave the European Union.

Britain's central bank has unveiled a series of stimulus measures to help protect the economy from the effects of the vote to leave the European Union.

Business

Shares rise, pound drops on UK stimulus measures

UK finance minister Philip Hammond has welcomed the stimulus measures announced by the Bank of England; in reaction London's FTSE 100 share index rose and the pound fell in value.

UK finance minister Philip Hammond has welcomed the stimulus measures announced by the Bank of England; in reaction London's FTSE 100 share index rose and the pound fell in value.

Business

Monte dei Paschi bank 'about to fall out of top share listing'

Italian bank Monte dei Paschi di Siena is reportedly about to be removed from the STOXX Europe 600 index - a listing of the region's top shares.

Italian bank Monte dei Paschi di Siena is reportedly about to be removed from the STOXX Europe 600 index - a listing of the region's top shares.

Business

HSBC to buy back shares amid profit slump

HSBC.,Europe's biggest bank, just reported a 29 percent drop in pretax profits for the first half of 2016 and will buy back $2.5 billion worth of shares.

HSBC.,Europe's biggest bank, just reported a 29 percent drop in pretax profits for the first half of 2016 and will buy back $2.5 billion worth of shares.

Business

Prime Minister Renzi tries to sound confident about Italian banking crisis

Italy's Prime Minister Matteo Renzi has been talking up the country's third largest bank, Banca Monte dei Paschi di Siena, even after it received the worst score in Europe-wide stress tests.

Italy's Prime Minister Matteo Renzi has been talking up the country's third largest bank, Banca Monte dei Paschi di Siena, even after it received the worst score in Europe-wide stress tests.

Business

Bank of England's Carney defends Brexit warnings

Accused of putting out "scare stories" and "phony forecasts" before the EU referendum, Bank of England Governor Mark Carney has defended warnings about the economic risks of Brexit.

Accused of putting out "scare stories" and "phony forecasts" before the EU referendum, Bank of England Governor Mark Carney has defended warnings about the economic risks of Brexit.

Business

Call for 150 billion euros bailout fund for European banks

Deutsche Bank's chief economist David Folkerts-Landau wants the European Union to set up a 150 billion euro rescue fund to recapitalise European banks and address "one crisis after another".

Deutsche Bank's chief economist David Folkerts-Landau wants the European Union to set up a 150 billion euro rescue fund to recapitalise European banks and address "one crisis after another".

Business

Italian banking crisis looms

A mountain of bad debts and a lack of capital reserves are fueling an Italian banking crisis, which has been thrown into sharp focus by Britain's vote to leave the European Union.

A mountain of bad debts and a lack of capital reserves are fueling an Italian banking crisis, which has been thrown into sharp focus by Britain's vote to leave the European Union.

Business

France moves to lure London bankers post-Brexit

France has stepped up its efforts to grab some of the London banking business that could be displaced by Britain's decision to leave the European Union.

France has stepped up its efforts to grab some of the London banking business that could be displaced by Britain's decision to leave the European Union.

Business

Russia cuts cost of borrowing as inflation falls

Russia's central bank has cut its main interest rate by 0.5 percent to 10.5 percent, signaling confidence by its policymakers that inflation risks are declining.

Russia's central bank has cut its main interest rate by 0.5 percent to 10.5 percent, signaling confidence by its policymakers that inflation risks are declining.

News

Secretive Bilderburg Meetings open in Dresden

It has been dubbed the world’s most high-powered but secretive annual meeting where bankers mingle with politicians.

It has been dubbed the world’s most high-powered but secretive annual meeting where bankers mingle with politicians.