Citigroup Profit Hit by More Than $2 Bln in ChargesJanuary 17, 2013Citigroup Inc posted
$2.32 billion of charges for layoffs and lawsuits in the first
financial report under its new chief executive, Michael Corbat,
who cautioned that the bank needs more time to deal with the
problems it faces.
Goldman Boosts Returns to Shareholders Through LayoffsJanuary 16, 2013Goldman Sachs Group Inc paid a
smaller portion of its revenue to employees in 2012 as it laid
off staff, signaling that management at the top Wall Street bank
may be ceding power to the shareholders who supply the capital.
Canada Sets Plan to Resuscitate Venture Capital SectorJanuary 15, 2013Canadian Prime Minister Stephen
Harper announced a plan on Monday to provide C$400 million ($408
million) in venture capital to stem the loss of young
entrepreneurs to the United States and to rekindle investor
interest in providing start-up funds for new
ICAP Sells Stake in Traiana to Seven Investment BanksJanuary 14, 2013ICAP has sold a stake in
technology unit Traiana to seven top banks in the latest example
of the world's largest broker partnering with clients on key
projects in a bid to retain their long-term support.
Credit Suisse to Cut Bonus Pool by 20 Percent — PaperJanuary 14, 2013Credit Suisse will cut
its bonus pool for 2012 by 20 percent to around 2.3 billion
Swiss francs ($2.52 billion), the fourth year in a row the Swiss
bank has slashed payouts, a newspaper reported on Sunday.
RBS to Slash Bonuses to Pay Libor Fines —SourceJanuary 11, 2013Royal Bank of Scotland is
preparing to slash bonuses for its investment bankers this year
to help pay fines for its role in an interest rate rigging
scandal, a source familiar with the situation said.
Outgoing Eurogroup Chief Calls for Direct Bank AidJanuary 10, 2013The euro zone must use its
rescue fund to inject money into banks with past debts, the
president of the Eurogroup said on Thursday, warning anything
less would undermine the bloc's crisis response.
BofA, Other Banks Move Closer to Ending Mortgage MessJanuary 08, 2013Bank of America Corp
announced more than $14 billion of legal settlements
over bad mortgages it sold to investors and flaws in its
foreclosure process, taking the bank a step closer to ending the
home loan problems that have dogged it for years.
Citigroup CEO Names New Executive TeamJanuary 07, 2013The newly appointed chief
executive of Citigroup Inc named two veterans of the bank
to lead its institutional and consumer businesses as he
announced his new management team on Monday.
Hedge Fund Chief Einhorn Disappoints, Loeb Has Big 2012January 04, 2013Widely followed hedge
fund managers Daniel Loeb and David Einhorn ended the year on
divergent notes with Loeb's firm handily beating the broader
stock market and Einhorn's firm posting a modest single-digit
annual gain after performing poorly in December.<
US Regulators Give Banks Time to Spin Off Swap TradingJanuary 04, 2013Banks could have up to three
extra years to comply with a new U.S. rule requiring firms that
receive federal deposit insurance to spin off some of their
swaps trading into separate arms, U.S. regulators said on