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United Kingdom

Banks

Malaysia's AirAsia values leasing arm at $1 billion - investor presentation

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SINGAPORE AirAsia Bhd, Asia's biggest low-cost airline, values its wholly owned leasing arm at 4.1 billion ringgit ($1 billion), and aims to attract an equity investor to the unit by end-2016, it said in a presentation to analysts.

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Apologetic Lloyds CEO plans to stay amid private life scrutiny 24 Aug 2016

LONDON Lloyds Banking Group Chief Executive Antonio Horta-Osorio apologised to staff on Wednesday for damaging the bank's reputation but said he intended to continue running the British lender following press scrutiny of his private life. | Video

HK regulator fines Morgan Stanley, cites internal control failures 24 Aug 2016

HONG KONG Hong Kong's securities regulator said it fined and reprimanded the local securities unit of Morgan Stanley for internal control failures related to disclosure of short-selling orders and comprehensive documentation of electronic trading services.

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RBS to relive unpleasant memories as investor lawsuit looms 23 Aug 2016

LONDON At an English country mansion last month, lawyers for Royal Bank of Scotland (RBS) sat down with representatives of angry shareholders to broker an end to what may end up being the costliest case in British legal history.

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Citigroup, AT&T end litigation over 'thanks' 23 Aug 2016

NEW YORK Citigroup Inc and AT&T Inc have ended a court battle over whether the "AT&T thanks" customer loyalty programme infringed Citigroup's trademark in the phrase "thankyou."

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U.S. appeals court declines to reconsider Bank of America ruling 22 Aug 2016

NEW YORK A U.S. appeals court refused on Monday to reconsider its decision to overturn a $1.27 billion (1 billion pounds) penalty against Bank of America Corp and a jury verdict finding it liable for mortgage fraud leading up to the 2008 financial crisis.

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Pfizer boosts cancer drug roster with $14 billion Medivation deal 22 Aug 2016

Pfizer Inc , beating out numerous other bidders, said it agreed to buy U.S. cancer drug company Medivation Inc for $14 billion (11 billion pounds) in cash, adding its blockbuster prostate cancer drug Xtandi to the company's growing oncology roster. | Video

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StanChart cuts African private equity team as economies struggle 22 Aug 2016

JOHANNESBURG The head of Standard Chartered's African fund, which has $800 million invested, is set to leave the bank as it trims its private equity team on the continent, its global head of private equity said on Monday.

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JPMorgan ends WaMu disputes with FDIC, to receive $645 million 20 Aug 2016

JPMorgan Chase & Co on Friday said it will receive $645 million (493.38 million pounds) in a settlement of litigation with the Federal Deposit Insurance Corp and Deutsche Bank AG arising from its purchase of Washington Mutual Inc's banking operations during the financial crisis in 2008.

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RBS to charge some British corporate customers negative rates 19 Aug 2016

LONDON Some big corporate clients of Royal Bank of Scotland face the prospect of paying to hold deposits with the bank from Monday as it becomes the first lender in Britain to charge negative interest rates.