Economy & Finance

Money laundering probe exposes Australian banks` compliance frailties

Money laundering probe exposes Australian banks` compliance frailties

Published 21/08/2017

A money laundering probe at Commonwealth Bank of Australia (CBA.AX) is the latest in a slew of scandals denting the reputation of Australian banks as simple, reliable lenders at the forefront in the battle against financial crime. [more…]

Goldman Sachs gets approval for Saudi equities trading license

Goldman Sachs gets approval for Saudi equities trading license

Published 20/08/2017

Goldman Sachs (GS.N) received approval on Sunday to trade equities in Saudi Arabia, joining the growing band of western investment banks and fund managers expanding in the kingdom. [more…]

Bankruptcy fight over Oncor to test Warren Buffett`s discipline

Bankruptcy fight over Oncor to test Warren Buffett`s discipline

Published 20/08/2017

Warren Buffett takes pride in naming his price to buy a company, and not paying a nickel more. But the largest U.S. natural gas distribution utility, an unyielding hedge fund, and a Delaware bankruptcy judge now present one of the biggest challenges to the billionaire's legendary discipline. [more…]

Britain will not exclude possible EU oversight of UK borders after Brexit

Britain will not exclude possible EU oversight of UK borders after Brexit

Published 20/08/2017

Britain will not rule out the possibility that the European Union may retain oversight of customs controls at UK borders after it leaves the bloc, as the country seeks ways to keep unhindered access to EU markets following Brexit. [more…]

Frankfurt and Dublin make bankers feel wanted in battle for Brexit jobs

Frankfurt and Dublin make bankers feel wanted in battle for Brexit jobs

Published 18/08/2017

I'm here to send you the regards of the Federal Chancellor. I am entitled to tell you we want you in Germany. This private message from Angela Merkel, delivered by a regional politician to Wall Street bankers last year, is having the desired effect. [more…]

U.S. high-yield fund withdrawals largest since March: Lipper

U.S. high-yield fund withdrawals largest since March: Lipper

Published 17/08/2017

Investors recoiled during a turbulent week for markets, pulling the most cash from high-yield bond funds since March and billions more from stock funds, Lipper data for U.S.-based funds showed on Thursday. [more…]

Deutsche Bank, Bank of America settle agency bond rigging lawsuits

Deutsche Bank, Bank of America settle agency bond rigging lawsuits

Published 17/08/2017

Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade. [more…]

BlackRock`s largest mutual fund boosts energy holdings: manager

BlackRock`s largest mutual fund boosts energy holdings: manager

Published 17/08/2017

BlackRock Inc's (BLK.N) largest mutual fund hiked its exposure to "select names" in energy as the sector has lagged this year, one of its portfolio managers said on Thursday. [more…]

Exclusive: SEC officials` holdings, legal work, pose potential conflicts

Exclusive: SEC officials` holdings, legal work, pose potential conflicts

Published 17/08/2017

Two lawyers appointed to senior jobs at the U.S. Securities and Exchange Commission have ties to major companies including financial firms Goldman Sachs Group Inc (GS.N) and Wells Fargo & Co (WFC.N) that could complicate efforts to regulate them, according to government documents viewed by Reuters. [more…]

LaSalle sets $1 billion target for pan-Asia real estate fund

LaSalle sets $1 billion target for pan-Asia real estate fund

Published 16/08/2017

LaSalle Investment Management Inc has set a new capital-raising target of $1 billion for the fifth of its pan-Asia opportunistic real estate funds, one of which is expected to significantly outperform a target annual return of 18 percent, the unit of Jones Lang LaSalle Inc said on Wednesday. [more…]