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Business Series

London beats Hong Kong to keep HSBC headquarters

HSBC has decided to keep its headquarters in Britain. The unanimous decision by the board of Europe's biggest bank rejected the idea of shifting to Hong Kong.

Business Series

Deutsche Bank's shares get boost from bond buyback reports

Deutsche Bank's shares recovered some ground on reports it is considering buying back several billion euros of its debt.

Business Series

Credit Suisse write-offs hit profit, drag down shares

Credit Suisse has reported its first full-year loss since 2008 due to big write-offs at its investment banking business, sending its share price tumbling.

Vatican

"The Devil's Job": ex-Vatican Bank chief Tedeschi on finance and morality

Italian economist and banker Ettore Gotti Tedeschi was president of the Vatican’s Bank at a time of turmoil from 2009 to 2012. Amid a

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Economy

SWIFT return to international bank transfers for Iran's banks

Iranian financial institutions are back in the global banking business, now able to use the "worldwide transaction network SWIFT for moving money and letters of credit.

Business Series

HSBC freezes salaries and hiring

Europe's largest lender, HSBC, has confirmed it is imposing a hiring and pay freeze across the bank globally in 2016.

Business Series

Further RBS 'clean up' charges mean no profit again this year

Royal Bank of Scotland is trying to put its troubled past behind it by making a 3.6 billion pound provision to top up its pension fund and make amends for British and US mis-selling.

Economy

Italy reaches deal with Brussels over bad bank loans

An accord between Italy and the European Commission to help banks sell some of their 200 billion euros of bad loans has eased fears of an Italian banking crisis.

Business Series

Deutsche Bank posts a record €6.7bn loss for 2015

Deutsche Bank shares plummeted some ten percent after warning it would report a record loss for 2015.

Economy

Barclays slashes jobs at investment banking division

Barclays will cut about 1,000 jobs in investment banking worldwide as new Chief Executive Jes Staley wields the axe in a bid to reduce costs and boost returns.

France

French tax avoidance probe takes a new turn

French tax authorities have discovered more than 38,000 secret French accounts containing 12 billion euros worth of assets in the Swiss bank

China

World Bank rival launched in Beijing

The Chinese President Xi Jinping launched a new international development bank on Saturday in Beijing that is being seen as a rival to the US-led

Economy

European economies face harsh headwinds from China

Headwinds from China again for European economies. As China’s financial markets remain relatively closed exposure for banks is limited, but trading

United Kingdom

UK: investment banks pay little or no tax, analysis shows

Seven of the biggest investment banks operating in London paid little or no tax in Britain last year, despite reporting billions of dollars in

Economy

Markets positive ahead of US Fed's crucial interest rates decision

Markets have been positive in the run-up to the long-awaited interest rate decision by the US Federal Reserve. The US central bank is widely tipped

Economy

Inflation data boosts Federal Reserve rate rise expectations

The Federal Reserve’s two-day meeting to set interest rates that could see the first rise since before the financial crisis ends on Wednesday. An

Economy

Protests in Italy after savers lose money over banks rescue

The Italian government faces growing protests over the rescue of four banks which saw thousands of investors lose money. The Economy Minister Pier

Economy

RBS and Standard Chartered pulled up but British banks pass stress tests

A Bank of England stress test has singled out two British institutions – the Royal Bank of Scotland and Standard Chartered – for not having enough

Economy

Barclays fined 103m euros for failing to run checks on rich clients

Barclays has been fined 72 million pounds (103 million euros) for failing to run proper checks on rich clients to prevent financial crime. Britain’s

France

France to clamp down on the financing of terrorism

France will ask for a new EU directive on money laundering and terrorist financing to be pushed through at a swifter pace. At a press conference in