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Banks

Wells Fargo chief Stumpf heads to Hill with pressure mounting

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Wells Fargo & Co's Chief Executive John Stumpf returns to Capitol Hill on Thursday with his job still under threat and the bank facing rising political pressure over a sales scandal that has become a major issue in Washington and on Wall Street.

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As Deutsche struggles, German lawmakers say no more help for ailing banks 3:58pm BST

BERLIN Germany will not help ailing lenders such as Deutsche Bank, senior lawmakers in Chancellor Angela Merkel's conservative bloc said on Thursday, as resistance grew to any possibility of staging a rescue.

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Germany's Commerzbank cuts nearly 10,000 jobs, halts dividend 3:52pm BST

FRANKFURT Germany's Commerzbank will cut more than a fifth of its workforce and suspend its dividend as it tackles the challenges of low interest rates, weak profits and the shift to online banking. | Video

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Deutsche Bank is not Europe's Lehman moment - Austrian finance minister 1:37pm BST

LONDON Deutsche Bank's troubles are not Europe's Lehman Brothers moment, Austria's finance minister said on Thursday, although he warned the region's lenders were facing a broader profitability crisis.

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Santander seen mapping out post-Brexit targets in investor update 12:10pm BST

MADRID Banco Santander is expected to adopt more conservative targets in Britain to reflect the immediate impact of the Brexit vote when the Spanish bank updates investors on its strategy on Friday.

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Goldman says OPEC deal to add as much as $10 to first half 2017 oil prices 10:30am BST

Goldman Sachs said the deal reached by OPEC crude producers on Wednesday to curb output should add $7 to $10 to oil prices in the first half of next year.

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FCA calls for wider taping of banker calls and emails 10:14am BST

LONDON Britain's Financial Conduct Authority has proposed stricter rules requiring bankers advising companies on corporate finance to record all telephone calls and electronic communications, in a bid to clamp down on insider trading and other market abuses.

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Wells Fargo's CEO pay clawback puts Wall Street executives on notice 12:01am BST

NEW YORK Wells Fargo & Co's unprecedented move to strip Chief Executive John Stumpf of $41 million in stock awards has sent a chill through Wall Street with bankers fearful that a hardening political climate against corporate wrongdoing will encourage boards to be more aggressive about making them forfeit pay.

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Draghi rejects German criticism, calls on Berlin to pull its weight 28 Sep 2016

BERLIN European Central Bank President Mario Draghi rejected German criticism that sub-zero interest rates were impoverishing savers and straining top lender Deutsche Bank , saying its monetary policy was a necessity to get the euro zone back on the path to growth and revive inflation. | Video

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Spain looks at possible merger of Bankia and Banco Mare Nostrum 28 Sep 2016

MADRID Spain's bank rescue fund said on Wednesday it would look into a merger between state-owned banks Bankia and Banco Mare Nostrum (BMN) that would potentially create a new entity with total assets of over 240 billion euros (£206 billion).