French Banks’ Trading Assets Create ‘Systemic Risk’
The investment banking units of BNP Paribas, Société Générale, Credit Agricole and Natixis hold 2.05 trillion euros ($2.64 trillion) in trading assets.
August Deficit Hits Record in U.K.
Chancellor of the Exchequer George Osborne could be in for some tough times from the British public should he continue to push through cuts in an attempt to contain the deficit.
LIBOR Will Be Gone in 5 Years: Poll
A majority of investors surveyed around the world believe that LIBOR will be gone within five years, and a more tightly regulated benchmark will take its place.
Parliament Report Slams Barclays, Banking Culture Over LIBOR
A report issued by Britain’s Parliamentary Treasury Select Committee had harsh words for just about everyone involved in the LIBOR-rigging scandal.
Banks Looking for ‘Scientific’ LIBOR Method
They are trying to limit their liability even as London-based Barclays, hit with a record fine over its role in LIBOR manipulation, named a new chairman to replace the one felled by the scandal.
New York on Solid Ground to Sanction Standard Chartered, Experts Say
Experts in the U.S. and abroad say that the bank's internal e-mails give the New York regulator a basis for its unilateral action.
Draghi Tested on Euro Crisis
Should ECB President Mario Draghi fail to come up with an effective tactic to quell market fears over the eurozone crisis, it could make the situation worse than ever.
Sandy Weill Wants Banks Small Again, Chris Dodd Wants Them Big
If politics makes strange bedfellows, it also makes for strange adversaries.
Draghi Says ECB Will Do ‘Whatever It Takes’
ECB President Mario Draghi declared that the central bank will do “whatever it takes” to keep the euro intact, as eurozone central banks looked for new ways to spur bank lending and undo the bloc’s financial logjam.
U.K. Recession Deepens
As the world counts down to the opening of the Olympic Games in London on Friday, Londoners—and others in Britain—are dealing with an economy that in Q2 of this year slowed considerably more than expected.