SAO PAULO Citigroup Inc and seven other banks will underwrite the initial public offering of Petróleo Brasileiro SA's fuel distribution unit, which will likely occur in November, a person with direct knowledge of the plan said.
NEW YORK The top U.S. securities regulator on Friday dropped its civil lawsuit accusing two former JPMorgan Chase & Co traders of trying to hide some of the bank's $6.2 billion of losses tied to the 2012 "London Whale" scandal.
NEW YORK Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million (50.90 million pounds) to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade.
Three U.S. pension funds sued six of the world's largest banks on Thursday, including Goldman Sachs Group Inc and JP Morgan Chase & Co , accusing them of conspiring to stifle competition in the more than $1 trillion (777.06 billion pounds) stock lending market.
WASHINGTON Two lawyers appointed to senior jobs at the U.S. Securities and Exchange Commission have ties to major companies including financial firms Goldman Sachs Group Inc and Wells Fargo & Co that could complicate efforts to regulate them, according to government documents viewed by Reuters.
LONDON The number of investors saying equity markets are overvalued rose to a record high of 46 percent in August, Bank of America Merrill Lynch's monthly fund manager poll showed on Tuesday.
LONDON Britain's Royal Bank of Scotland plans to cut around 900 technology jobs at its London office by 2020, in its latest plan to reduce costs, the Unite union said, although the bank said no figures had been finalised.
LONDON Barclays plans to close around 54 branches by the end of the year in an effort to cut costs, further reducing access to banking services for customers in parts of Britain.
FRANKFURT Failed Italian banks Banca Popolare di Vicenza and Veneto Banca had fallen short of the European Central Bank's capital demands since the ECB became their supervisor in late 2014, documents showed on Monday.
LONDON JP Morgan Asset Management said on Friday that it will absorb the cost of paying brokers for investment research rather than pass it on to its clients when new European regulation comes in next year.