Germany has fined Citigroup nearly 13 million euros ($13.94 million) for lapses in its trading system controls, the nation’s bank regulator said on Thursday, as its consumer protection division imposed its largest penalty ever.
The potential impact of an alleged spying case on Spain’s second-biggest bank BBVA is difficult to estimate in terms of fines or reputational damage, the head of Spain’s stock market supervisor, Rodrigo Buenaventura, said on Friday.
Canadian truckers are struggling to make payments on their rigs as fuel prices rise and freight rates tumble, forcing banks to declare tens of millions of dollars’ worth of bad loans.
Arrowpoint Investment Partners, one of Asia’s largest hedge fund launches this year, said on Friday it has secured investment from the Canada Pension Plan Investment Board (CPPIB) and a unit of Singapore’s Temasek Holdings.
Indian education loan financier Avanse Financial Services (AFS) filed draft papers on Friday with the country’s markets regulator for an initial public offering (IPO) worth 35 billion rupees ($419 million).
China is pushing for Visa and Mastercard to lower their bank card transaction fees in the country to encourage spending by foreign visitors, Bloomberg News reported on Friday, citing a person familiar with the matter.
Asian hedge funds led global gains in May and the first five months, as bullish sentiment towards regional equities and winning positions in China boosted performance.
U.S. banking regulators rejected Citigroup’s so-called “living will”, which is a detailed plan to wind itself down in the event of catastrophic failure, The Financial Times reported on Thursday.
A Russian court has ordered that Commerzbank assets worth 94.9 million euros ($101.86 million) be awarded in damages to a company overseeing construction of a gas processing plant in northwest Russia, court documents showed.
Russia’s Novikombank said on Thursday it had become the first bank from the country to open a representative office in Cuba as part of growing economic ties between the former Cold War allies.
