Britain will announce a broader-than-expected review into the banking industry on Monday, looking at culture and standards as well as the causes of an interest rate-fixing scandal, a source familiar with the situation said.
The European bailout for Spain's banks will push them to sell an empire of stakes in the nation's top companies, ending a cozy culture of corporate-banking links and prompting a wider shake-up in ownership of the company landscape.
French banks, the top foreign lenders to Greece, are expected to continue their quiet retreat from the debt-wracked country after Greek voters gave a slim majority to parties supporting the international bailout that
keeps it afloat.
JPMorgan Chief Executive Jamie Dimon will tell lawmakers that the bank's recent multibillion-dollar trading loss occurred because poorly managed traders embarked in January on a misguided hedging strategy they did not fully understand.
JPMorgan Chase's failure to timely disclose a major change in how it measured risk could become the centerpiece for an enforcement action by U.S. securities regulators as they probe the bank in connection with its multibillion dollar trading loss.
Global bank regulators warned the European Union it risked watering down agreed bank capital rules designed to avert another financial crisis and called for more consistency in implementing the regulations.
Jamie Dimon will be playing a new role in Washington this Wednesday, called to explain JPMorgan's recent trading debacle after years of being known as the Wall Street banker who got it right during the financial crisis.
A federal judge canceled a scheduled June
11 trial between Apple Inc and Google Inc's
Motorola Mobility unit over patents related to mobile phones and
tablet computers, and expects to dismiss both sides' cases
because neither can prove damages.