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Use of tax havens by European banks revealed

Oxfam concluded that 20 major European banks make a quarter of their profits, or 25 billion euros in low tax jurisdictions.

Oxfam concluded that 20 major European banks make a quarter of their profits, or 25 billion euros in low tax jurisdictions.

Business

HSBC to hire 1000 new staff in China

Despite slowing Chinese growth HSBC still sees it as a solid bet and will hire a further 1000 staff this year.

Despite slowing Chinese growth HSBC still sees it as a solid bet and will hire a further 1000 staff this year.

Business

Deutsche Bank: share sale details cause price slump

Shares of Germany's biggest banks fell sharply in value after it announced details of the sale of new shares needed to increase its capital reserves.

Shares of Germany's biggest banks fell sharply in value after it announced details of the sale of new shares needed to increase its capital reserves.

Business

Federal Reserve raises benchmark interest rate to 1.0 percent

The US Federal Reserve raised interest rates for the second time in three months, a move spurred by steady economic growth and strong job gains.

The US Federal Reserve raised interest rates for the second time in three months, a move spurred by steady economic growth and strong job gains.

Business

HSBC names AIA's Mark Tucker as new chairman

Experienced Asia hand Mark Tucker is to take over as chairman of HSBC at the start of October replacing Douglas Flint.

Experienced Asia hand Mark Tucker is to take over as chairman of HSBC at the start of October replacing Douglas Flint.

Business

European Central Bank defends continued eurozone stimulus

European Central Bank pledges to keep its aggressive stimulus policy for now but signals less need to prop up eurozone growth and inflation.

European Central Bank pledges to keep its aggressive stimulus policy for now but signals less need to prop up eurozone growth and inflation.

Business

Royal Bank of Scotland makes a loss for ninth straight year

Royal Bank of Scotland - the subject of the world's biggest bank rescue - has announced losses of 6.96 billion pounds (8.2 billion euros) for 2016.

Royal Bank of Scotland - the subject of the world's biggest bank rescue - has announced losses of 6.96 billion pounds (8.2 billion euros) for 2016.

Business

HSBC's profits plunge dragging down share price

Europe's biggest bank HSBC saw annual pre-tax profit slump 62 percent with hefty writedowns and warned its revenues could fall again this year.

Europe's biggest bank HSBC saw annual pre-tax profit slump 62 percent with hefty writedowns and warned its revenues could fall again this year.

Business

Credit Suisse announces big losses, more job cuts

Credit Suisse says its 2016 losses were 2.44 billion Swiss francs, it plans to cut up to 6,500 more jobs this year.

Credit Suisse says its 2016 losses were 2.44 billion Swiss francs, it plans to cut up to 6,500 more jobs this year.

Business

Italy's UniCredit selling 13 billion euros of new shares

Italy's biggest bank UniCredit is selling 13 billion euros of new shares to rebuild its capital reserves following writedowns on bad loans.

Italy's biggest bank UniCredit is selling 13 billion euros of new shares to rebuild its capital reserves following writedowns on bad loans.

Business

ECB's Draghi warns against US relaxing bank rules

European Central Bank head Mario Draghi has called the US administration's idea of relaxing bank rules "very worrisome".

European Central Bank head Mario Draghi has called the US administration's idea of relaxing bank rules "very worrisome".

Business

Trump to weaken banking rules

President Donald Trump has started the effort to roll back the US laws brought in to regulate banks after the 2008 financial crisis.

President Donald Trump has started the effort to roll back the US laws brought in to regulate banks after the 2008 financial crisis.

Business

UK central bank raises growth outlook

Bank of England raises forecast for UK economic growth this year, in no hurry to put up interest rates, sees inflation at 2.8 percent in early 2018.

Bank of England raises forecast for UK economic growth this year, in no hurry to put up interest rates, sees inflation at 2.8 percent in early 2018.

Business

Deutsche Bank: the worst is behind us

Crisis-plagued Deutsche Bank is insisting the worse of its troubles are behind it even as it announced a Q4 loss of 1.9 billion euros.

Crisis-plagued Deutsche Bank is insisting the worse of its troubles are behind it even as it announced a Q4 loss of 1.9 billion euros.

Business

Deutsche Bank fined over Russian money laundering

Deutsche Bank failed to prevent around $10 billion (9.29 billion euros) in suspicious trades out of Russia between 2011 and 2015.

Deutsche Bank failed to prevent around $10 billion (9.29 billion euros) in suspicious trades out of Russia between 2011 and 2015.

Business

Is Europe in the mood to invest in itself?

This edition of Real Economy, from the European Investment Bank in Luxembourg, looks at the kind of investments Europe needs.

This edition of Real Economy, from the European Investment Bank in Luxembourg, looks at the kind of investments Europe needs.

Business

Can we fill the Investment Gap?

Werner Hoyer discusses his views on Europe’s strategy to address a massive investment gap and whether there is incentive for private sector banks to start lending to businesses…

Werner Hoyer discusses his views on Europe’s strategy to address a massive investment gap and whether there is incentive for private sector banks to start lending to businesses…

Business

RBS prepares to pay for 'painful' sub-prime legacy

Royal Bank of Scotland sets aside 3.1 billion pounds (3.6 billion euros) to settle claims by the US Department of Justice over mis-sold investments.

Royal Bank of Scotland sets aside 3.1 billion pounds (3.6 billion euros) to settle claims by the US Department of Justice over mis-sold investments.

Business

Hack attacks prompt possible cyber stress tests for banks

The European Union is reportedly considering testing the defences of the region's banks against cyber attacks to help step up their security.

The European Union is reportedly considering testing the defences of the region's banks against cyber attacks to help step up their security.

Business

HSBC to move 1,000 staff from London to Paris after Brexit

HSBC, Europe's biggest bank, plans to shift around 1,000 workers, who generate around 20 percent of its trading revenue to Paris, post-Brexit.

HSBC, Europe's biggest bank, plans to shift around 1,000 workers, who generate around 20 percent of its trading revenue to Paris, post-Brexit.

News

Deutsche Bank reach multi-billion dollar settlement with DoJ

Deutsche Bank, one of the biggest banks in the world, have reached an agreement with the US Justice Department over its sale of toxic mortgages in the run up to the 2008…

Deutsche Bank, one of the biggest banks in the world, have reached an agreement with the US Justice Department over its sale of toxic mortgages in the run up to the 2008…

Business

Spanish banks lose mortgage interest rate case

The European Court of Justice has ruled that two million Spanish mortgage holders are entitled to bank refunds because they paid too much interest.

The European Court of Justice has ruled that two million Spanish mortgage holders are entitled to bank refunds because they paid too much interest.

Business

Italy moves ahead with 20 billion euro bank rescue plan

Italy's parliament has approved a 20 billion euro plan to prop up the country's weaker banks, starting with a bailout for Monte dei Paschi di Siena.

Italy's parliament has approved a 20 billion euro plan to prop up the country's weaker banks, starting with a bailout for Monte dei Paschi di Siena.