The detention of Bao Fan, chairman of investment bank China Renaissance Holdings , has been extended for another three months beginning May 7, Chinese financial publication Economic Observer reported on Wednesday, citing sources.
Hundreds of Credit Suisse ‘s employees are resigning each week in a sign of uncertainty gripping the lender while it is being taken over by rival UBS , two people familiar with the matter said on Wednesday.
Central banks risk being late in arresting inflation if they rely too much on forward guidance – a tool used to communicate the future path of monetary policy, a widely respected economist told policymakers at a Bank of Japan-hosted event on Wednesday.
Sweden’s Handelsbanken said on Wednesday it has agreed to sell parts of its Finnish operation to three local companies for about 1.3 billion euros ($1.43 billion), equal to the net assets of the divested businesses.
Goldman Sachs Group Inc is expected to cut fewer than 250 jobs in the coming weeks as a sluggish market for deals weighs on investment banking, a source familiar with the matter said.
UniCredit has been trimming the proportion of Amundi funds in its total assets under management as a decade-long deal between the companies enters its final years, a person close to the matter said, the latest sign it may not be renewed.
The European Commission will propose greater transparency in the trading of credit default swaps of eight top banks to mirror rules in U.S. markets, a European Union document seen by Reuters showed on Wednesday.
Markets participants have a month to stop using Libor, the tarnished interest rate banks were fined for trying to rig, Britain’s Financial Conduct Authority (FCA) said on Wednesday.
British digital bank Monzo marginally narrowed its annual loss in the year to February 2023 and said it had reached monthly profitability, as it battles to match some digital rivals that have already translated rapid growth into profits.
