UBS on Friday criticised EU antitrust regulators over the way they calculated its 172.4-million-euro ($186 million) cartel fine, saying the arbitrary figure was based on inaccurate assumptions that resulted in a big penalty.
Schroders Plc and Canada Life moved to cut back their dealings with the asset management businesses with links to Crispen Odey on Friday citing allegations of misconduct by the financier published by the Financial Times and Tortoise Media a day earlier.
All of Australia’s “Big Four” banks on Friday passed on the Reserve Bank of Australia’s (RBA) latest rate hike to their customers in full, raising their respective standard variable home loan rates by a quarter-point.
UBS and the Swiss government agreed on Friday how they will share losses linked to the bank’s emergency takeover of Credit Suisse, clearing the way for the deal to close within days, and creating a giant Swiss bank and cementing its position as a global wealth manager.
The Swiss government has signed an agreement with UBS to cover up to 9 billion Swiss francs ($10.01 billion) in losses from its emergency takeover of Credit Suisse , the finance ministry said on Friday.
Troubled British subprime lender Amigo Holdings said on Friday it had granted shareholder Michael Fleming an exclusivity agreement to look for financing options, including debt.
Standard Chartered is starting to lay off employees across Singapore, London, and Hong Kong hubs as part of an existing plan to cut costs by more than $1 billion through 2024, Bloomberg News reported on Wednesday.
Jefferies has hired top Bank of America software investment banker Ron Eliasek as part of the bank’s efforts to boost its U.S. dealmaking franchise, according to people familiar with the matter.
