World Bank to cut reorganization budget
On Monday, World Bank’s Chief Financial Officer said that the bank had planned to cut USD400 million from its budget as a part of a sweeping reorganization.
Investment banks
UPS Picks Goldman Sachs to Oversee Its $43.4 Billion Pension Funds
UPS has picked banking giant Goldman Sachs to handle its $43.4 billion pension fund assets in the United States and Canada.
Embattled New York Community Bancorp to Sell $5 Billion of Mortgage Warehouse Loans to JPMorgan Chase
New York Community Bancorp (NYCB), a regional lender facing financial challenges, has announced its agreement to sell approximately $5 billion in mortgage warehouse loans to JPMorgan Chase...
JPMorgan Chase Australia Fined Over $500,000 for Allowing Suspicious Client Orders on Wheat Futures Trading
The JPMorgan Chase in Australia has been fined A$775,000 ($509,252) for permitting suspicious client orders on wheat futures trading...
US Banks See Loan Demand Drop, Fed Survey Says
US banks have observed a fresh decline in loan demand for industrial purposes and household demand for credit during the first quarter of the year, according to a Federal Reserve survey...
Goldman Sachs Removes Bonus Cap for UK Bankers
After the UK removed local pay restrictions for bankers last year, Gol...
JPMorgan Chase to Pay a Civil Penalty of $100 Million Over Trade Reporting Gaps
JPMorgan Chase is expected to reach a resolution with a third US regul...
Latest News
Ex-World Bank President Zoellick rejoins Goldman Sachs
Former World Bank President Robert Zoellick would rejoin investment bank Goldmans Sachs Group as chairman for its international advisory board, said a Reuters report.
IOI's Unico-Desa acquisition may reduce its cash position - Moody's
Moody's Investors Services advised IOI Corp Bhd about the financial implications of its planned acquisition of a 39.55% stake in Unico-Desa Plantation Bhd.
Alfresco going public is a bad decision - report
Doug Dennerline, who is UK open source company Alfresco's new chief executive, said that although plans for a public offering were in the cards, he would rather focus on looking for additional funding
Bank of Korea in need of governor successor
After the end of Bank of Korea's governor term, the central bank would need a new head that has strong global focus and a firm grip on international economics, said a presidential adviser.
US District Judge denies HSBC motion
HSBC Holdings had lost its bid to undo a 2009 securities fraud trial verdict, according to a Reuters report.
IMF rates GCC at 4.4% growth in 2014
The International Monetary Fund pegged the 2014 growth of the GCC at 4.4%.
Banks warn Obama of impending state debt defaults if government shutdown persists
Chief executives of major banks and President Barack Obama on October 2 had met and discussed financial repercussions of the government shutdown.
US investment companies bid for Lloyds Irish portfolio -sources
Three US investment companies reportedly placed bids for the Irish properties of Lloyds Bank.
