HONG KONG Global banks including Citigroup and HSBC are boosting their staff and presence for offerings in yuan -- from capital market solutions to hedging -- as China's drive to build a modern Silk Road fuels demand.
NEW YORK A former top HSBC Holdings Plc executive threw his Scottish client "under the bus" by using his knowledge of its large planned currency transaction to do his own trading first, a U.S. prosecutor said on Monday at the start of a closely-watched trial.
NEW YORK The Financial Industry Regulatory Authority said on Monday it ordered Wall Street investment bank and securities brokerage Morgan Stanley to pay $13 million (9.61 million pounds) in fines and restitution to clients for inadequately supervising certain short-term trades.
BEIJING Citigroup Inc expects to boost its revenue growth in China by tapping into opportunities presented by Beijing's Belt & Road initiative, the bank's China chief said.
MILAN UniCredit has called a shareholder meeting for Dec. 4 to put new governance proposals to the vote, including removing a 5 percent cap on voting rights and allowing the board to select its own candidates to be directors.
LONDON Banking shares drove European bourses higher on Thursday after the U.S. Federal Reserve signalled a likely December rate hike and announced it would begin trimming its balance sheet in October.
LONDON Australia's Macquarie Group Ltd has overtaken Goldman Sachs to break into the top three banks for commodities business, having significantly expanded its U.S. energy operations in recent years while rivals cut back.
SYDNEY Commonwealth Bank of Australia has agreed to sell its life insurance unit to Hong Kong-based AIA Group for $3.1 billion (2.3 billion pounds), in the biggest Asian buyout of an Australian financial firm.
FRANKFURT Italy's UniCredit has recently told Berlin it is interested in eventually merging with state-backed Commerzbank , two people familiar with the matter said, a combination that would create one of Europe's biggest banks.
FRANKFURT/LONDON Swiss stock exchange operator SIX Group has hired JPMorgan to look at options for its payments unit, including a sale worth up to 2 billion Swiss francs (1.53 billion pounds), sources familiar with the plans told Reuters.