RBS Next to be Fined in LIBOR-Rigging Scheme
The inquiry into a LIBOR-rigging scheme looks set to claim another quarry as RBS will reportedly be fined about 150 million pounds.
Several recent elections in Europe were seen as a referendum on fiscal austerity (and fiscal discipline) and their results were presented as a mood shift in favor of more government spending and economic stimulus.
Poland: Biggest Bargain in Europe?
Poland isn’t key to Europe’s future, it may be Europe’s future.
New Hire Roundup: Harris Returns to Davis Polk; Citi Private Bank Welcomes Mohammed
This week in new hires, Davis Polk welcomed back Kim Harris and Nevada Mohammed joined Citi Private Bank’s Vancouver office.
China New Land of Expansion for Banks
Bank of America is setting its sights on China. After adding both staff and profit in its initial efforts there, it sees more opportunity in the huge Chinese economy than it does in other areas, where it is slashing staff and shuttering branches.
Factory Activity Slows in China
Falling factory activity in China, mirroring lower demand both among domestic and foreign customers, may force Beijing to turn to growth policies to keep its economy revved up.
Another Sign China Growth Is Stalling: November PMI Falls
In November, HSBC purchasing managers index fell from prior month.
Will European Banks Be Forced to Unload U.S. Assets?
The report's authors cite Dutch banking giant ING Groep’s pending sale of its U.S. banking franchise ING Direct to McLean, Va.-based Capital One Financial Corp as a paradigm for such asset sales, since European regulators forced ING to restructure.
Data Suggests China May Ease Monetary Policy
China saw its official purchasing managers' index drop to 50.4 in October from 51.2 in September, against expectations that it would gain ground instead. Beijing's National Bureau of Statistics said the fall was because of troubled U.S. and European economies. The index came in at its lowest level since February...
Barclays Adds 6 Advisors, 2 From BofA
Barclays Wealth said Friday that it recently hired six advisors, including one from Merrill Lynch and one from BofA-U.S. Trust in New York, Boston, Dallas and Miami.