Banks

Barclays sets aside 500 million pounds for FX fines as profits rise

Photo

LONDON - Barclays Plc set aside 500 million pounds ($800 million) in the third quarter to cover potential fines for rigging currency markets, taking the shine off a rise in profits as its retail business performed well and costs were cut. | Video

Photo

Citigroup sets aside $600 million more to cover legal costs 12:11am GMT

- Citigroup Inc said it was setting aside an extra $600 million (375.11 million pounds) to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries," while also disclosing that it was subject to foreign exchange market probes. | Video

Photo

Citigroup sets aside $600 million more to cover legal costs 30 Oct 2014

- Citigroup Inc said it was setting aside an extra $600 million (375.23 million pounds) to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries," while also disclosing that it was subject to foreign exchange market probes. | Video

Photo

Barclays sets aside 500 million pounds for FX fines as profits rise 30 Oct 2014

LONDON - Barclays Plc set aside 500 million pounds ($800 million) in the third quarter to cover potential fines for rigging currency markets, taking the shine off a rise in profits as its retail business performed well and costs were cut. | Video

Photo

Next Shell chairman brings U.S. corporate experience, green agenda 30 Oct 2014

LONDON - Chad Holliday, the former chairman of Bank of America and DuPont widely credited for his sustainable energy vision, will become the first American chairman at Royal Dutch Shell , an oil major with tense relations with green groups.

Photo

RBS to reveal funds held to settle forex probes 30 Oct 2014

LONDON - Royal Bank of Scotland will announce how much it has set aside to cover potential fines for manipulating currency markets when it reports third-quarter results on Friday, several banking sources said.

Photo

National Australia Bank plans UK exit after slide in annual profit 30 Oct 2014

SYDNEY - National Australia Bank said it has made exiting its UK operations an "absolute priority" after writedowns for the troubled business led to a 10 percent decline in annual cash profit.

China banks' bad loans surge, credit crunch could spread west 30 Oct 2014

HONG KONG/SHANGHAI - Two of China's biggest banks reported sharply rising bad loans for the third quarter on Wednesday, and one added that a credit crunch squeezing small companies in the country's export-oriented eastern provinces may be spreading westwards.

Photo

National Australia Bank planning UK exit, FY net drops 29 Oct 2014

SYDNEY - Exiting the United Kingdon is an "absolute priority" for National Australia Bank , Chief Executive Officer Andrew Thorburn said after the bank posted a fall in annual cash profit, hit by writedowns for its troubled British business.

Photo

Investor to object to proposed $4.5 billion JPMorgan settlement 29 Oct 2014

NEW YORK - A group of funds that threw a monkey wrench in Bank of America Corp's proposed $8.5 billion (5.30 billion pound) settlement with investors in mortgage-backed securities will object to JPMorgan Chase & Co's $4.5 billion offer to settle claims over similar investments, according to the lawyer that represents them.