Standard Chartered’s financial markets revenues fell 10% last quarter from a year earlier as it suffered a sharp drop in FX income, lagging other investment banks and taking the shine off a rise in profits due to lower loan losses.
A US judge has ordered UBS to face a lawsuit by a former bond strategist who said he was fired in retaliation for refusing to publish misleading research reports and complaining about being pressured to do so.
Hong Kong’s banking watchdog is questioning lenders over a US$200m loan raised by China Huishan Dairy Holdings, sources involved in the matter told Reuters, as regulators try to unpick the group’s tangled finances.
Former Santander UK finance director Stephen Jones has been named as the first chief executive of UK Finance, the trade association for banks and finance firms in Britain that will launch in the coming months.
The investigative arm of Congress has been asked to review guidelines on US lending released in 2013 that critics say have put a crimp in bank loans to businesses.