Royal Bank of Scotland Group Plc’s credit rating was downgraded by Moody’s Investors Service after the lender reported its biggest full-year loss since its bailout in 2008.
Federal regulators on Thursday announced the latest case to stem from the decade-long insider trading investigation into SAC Capital Advisors, taking aim at a former employee for prompting a number of illegal trades. . .
U.S. bankers who vowed last year to boost profit by shrinking expenses are finding costs don’t always stay cut . . .
http://www.bloomberg.com/news/2014-03-14/bofa-to-citigroup-find-new-expenses-negating-cost-cuts.html
UBS AG (UBSN) boosted Chief Executive Officer Sergio Ermotti’s compensation by 21 percent to 10.73 million Swiss francs ($12.3 million), the last time the decision will fall exclusively on the bank’s board as Swiss governance rules change. . .
German Finance Minister Wolfgang Schaeuble and his European Union counterparts are under pressure to get a bank-crisis law on the books after European Central Bank President Mario Draghi spelled out the consequences of failure. . .
The U.S. Securities and Exchange Commission is investigating whether currency traders at the world’s biggest banks distorted prices for options and exchange-traded funds by rigging benchmark foreign-exchange rates, according to two people with knowledge of the matter. . .
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.
Royal Bank of Scotland is poised to release millions of pounds worth of shares to its top executive team through bonus schemes put in place by the loss-making bank over the last three years. . .
http://www.theguardian.com/business/2014/mar/06/rbs-bonus-announcement-imminent-loss-making
The worldwide investigation into allegations of manipulation in the global currency market took another twist on Thursday, as Bank of America suspended a senior trader in London, a source familiar with the matter said on Thursday. . .
Victims of the massive Allen Stanford Ponzi scheme got a rare bit of good news Thursday. Some $18 million in Stanford funds that had been parked in Canada was returned to the U.S. for distribution to investors. . .
http://hereisthecity.com/en-gb/2014/03/07/where-is-the-stanford-ponzi-loot-this-man-knows/