PricewaterhouseCoopers (PwC) Australia has moved to contain the fallout from a scandal over the misuse of confidential government tax plans by selling its government consulting unit to Allegro Funds and flying in an executive from Singapore to lead the local firm.
Denmark’s Saxo Bank has been designated by the country’s financial watchdog as a systemically important financial institution (SIFI), the lender said on Monday.
HSBC has decided to leave its longstanding headquarters in Canary Wharf in east London in favour of a move to a much smaller office in the centre of the city, according to a memo seen by Reuters.
PricewaterhouseCoopers (PwC) Australia is under fire after a former partner leaked confidential government tax plans between 2014 and 2017 which were then used to drum up work with multinational companies hoping to sidestep new rules.
High interest rates will keep a lid on the pace of bank lending in Europe this year and next, with a particular slowdown in growth in Germany as demand for loans tails off, according to a study by consulting firm EY.
The U.S. Federal Reserve is due to release the results of its annual bank health checks on Wednesday, June 28. Under the “stress test” exercise, the Fed tests banks’ balance sheets against a hypothetical severe economic downturn, the elements of which change annually.
Big U.S. lenders are expected to show they have ample capital to weather any fresh turmoil in the banking sector during this week’s Federal Reserve health checks, although resulting investor payouts are likely to dip slightly, analysts said.
A Bank of Japan (BOJ) policymaker called for an early revision to its controversial yield curve control, a summary of opinions at the June meeting showed on Monday, suggesting the central bank’s ultra-loose monetary settings may be at a crossroads.
