Alibaba Group Holding Ltd's finance arm has been given government approval to set up a private bank, China's banking regulator said on Monday, the latest step in the e-commerce company's push into the financial services sector.
Goldman Sachs (GS.N) and Libya's sovereign wealth fund are set to meet in a London court over claims the Wall Street bank exploited a position of trust by encouraging the fund to invest more than $1 billion in trades that ended up worthless.
China's economy showed further signs of softening in July despite a burst of government stimulus measures, suggesting more policy support may be needed to keep growth on track as a property downturn worsens.
Germany's coalition government formalized a measure to provide funds and expertise for a European bank to manage the loan agreements and if necessitated, closure of banks.
According to Global Finance, the National Bank of Abu Dhabi is acclaimed as the world's safest bank.
In a move designed to avoid default, ThyssenKrupp was able to receive an extension of its credit lines from banks before its planned share sale.
Seeing a possible windfall of money from oil and gas rich investors, Britain is urging banks to create instruments to address the USD2.6 trillion market by 2017.
The Korean Financial Investment Association was visited by members of the Fair Trade Commission to obtain documents on its probe as to alleged rate fixing for the country's certificate of deposit.
The Chinese government, amidst calls for a pending crisis due to bad debts, is pushing its banks to shore up its capitalization in compliance with Basel III.
Tom Bolland, current COO of Lehman is helping wind down the bank's business.
HSBC's stock falls as it advises diplomatic missions to close their accounts with their bank.
Milestone Aviation secures a US $300 million loan facility from Lloyds, Barclays and Lombard.
US federal prosecutors revive a 30 year old law to prosecute Wall Street banks that sold toxic loans in 2008.
Opus Bank gears up for the expansion of its Income Property Banking division with the creation of Commercial Real Estate Banking division.
Lenders based in Oman are developing a wakala, an agency agreement that is sharia compliant to help back their interbank financing needs.
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