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Economy

ECB government bond purchase warning

Analysts say the European Central Bank could end up owning as much as a quarter of all eurozone government bonds which risks distorting the market.

Business Series

Credit Suisse CEO Tidjane Thiam was paid 18.9 million Swiss francs last year

One day after Credit Suisse said it is accelerating its cost-cutting plan and will cut a further 2,000 jobs, we learned what Chief Executive Tidjane Thiam is being paid.

Economy

Bangladesh central bank boss resigns over cyber heist, money hunt continues

Bangladesh's central bank governor has resigned over the theft by hackers of $81 million (73 million euros) as investigators try to track where that money went.

Economy

Bangladesh cyber bank heist blame game underway

The blame game is underway in Bangladesh after computer hackers stole the equivalent of 73 million euros from the central bank and nearly got away with 10 times as much

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Business Series

Barclays quits Africa as profit falls

Barclays is quitting Africa after almost a century of doing business there. The announcement came as it reported pretax profit last year was 5.4 billion pounds, down 2% on 2014.

Argentina

Argentina strikes deal with US 'holdout' creditors

Argentina agrees in principle to a deal with US hedge funds ending a 15-year-old dispute over repayment of billions of dollars worth of bonds.

Business Series

Royal Bank of Scotland reports eighth year of losses

Royal Bank of Scotland was in the red again for 2015 as it set aside billions to pay for past misconduct and spent heavily on restructuring.

Business Series

HSBC post unexpected quarterly loss, confirms 'princeling' probe

HSBC confirms it's part of US regulators probe into hiring of people tied to Asian government officials, announces lower than expected profit, warns of "bumpier financial environment" from China slowd

Economy

Financial world ponders impact of a 'Brexit'

As Britain's future membership of the European Union hangs in the balance the financial world is looking on nervously with banking and business leaders concerned about the impact a 'Brexit'.

Economy

European Central Bank's Draghi bullish on banks and stimulus

European Central Bank head Mario Draghi has been talking up the eurozone's banks, confirmed the ECB is ready for more stimulus measures and said the ECB is considering ditching the 500 euro note.

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

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.