Independent Scotland Would Seek to Keep Pound; London Says No
A vote for independence from the U.K. in Scotland scheduled for September could pave the way for a new currency.
SEC, FINRA Enforcement: Swiss-Based Firm Bilks U.S. Investors of $11M
Meanwhile, FINRA fined Deutsche Bank Securities for deficiencies in its lending program while Argentus Securities was censured and fined on AML failures.
Barclays’ Diamond Blames Libor Fixing on Other Banks, Regulators
Moody’s cuts Barclays' outlook; investors may be on the hook for losses.
Europe’s Crisis Focus Shifts From Greece to Spain
Concerns eased a bit over the possibility of a Greek exit from the euro zone as Saturday polls showed rising support for pro-bailout parties in that country. But attention turned to Spain as earlier estimates of funding needed for a bailout of its largest bank looked to be seriously undervalued.
S&P, Fitch Cut Ratings of 17 Banks in U.S., Europe
S&P clips 10 in Spain, Fitch hits BofA and Goldman.
Deutsche Bank Selling Chunk of Asset Management Business
The decision to sell was made in the wake of a strategic review of the business that was spurred by changing conditions within the industry that included regulatory reforms.
Italian 'Party of Bankers' Evokes Threats of Violence
Prime Minister Mario Monti has his hands full. Not only is he dealing with Italy’s debt crisis, but his efforts to enforce and increase austerity measures in the country, as well as his choices for cabinet members, referred to by some groups as the “party of bankers,” are escalating public...
Top Portfolio Products: Global X Adds Greece ETF; Vanguard Cuts Purchase Fee
New products introduced over the last week include a new Greece-centric ETF from Global X, a purchase fee cut on a Vanguard fund, and two new ETNs from Deutsche Bank and Invesco.
BlackRock’s Fink Slams SocGen Over ETFs
Synthetic ETFs were the target on Wednesday of Laurence D. Fink, CEO of BlackRock, as he criticized the products of Société Générale SA, saying that he didn’t want them to damage the industry.
Anglo Irish Bank Cuts Losses With Asset Sales
Paring its record loss in the first six months of 2011 down to 105 million euros ($151.7 million) from 8.2 billion euros—the worst in Irish corporate history—in the same period of 2010, the bank has been winding down its business, planning to shut down altogether by 2020.