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Banks

Tech still hedge funds' sweetheart sector - Goldman Sachs

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LONDON Tech stocks remain the largest net sector exposure for equity hedge funds, which are set to deliver their strongest returns since 2013, Goldman Sachs said on Wednesday in a note on the industry's most and least favoured areas of the market.

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UK's 15 billion pound RBS sale to boost government coffers 22 Nov 2017

LONDON Britain will reprivatise bailed-out lender Royal Bank of Scotland by selling 15 billion pounds of shares, according to budget documents released on Wednesday, in a boost to chancellor Philip Hammond's coffers.

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Deutsche Bank strategist tells investors to avoid bitcoin 22 Nov 2017

FRANKFURT Deutsche Bank has joined the ranks of those warning about the virtual currency bitcoin as an investment.

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StanChart close to selling real estate principal finance unit to Actis -sources 22 Nov 2017

NEW DELHI/HONG KONG Standard Chartered is close to selling its real estate principal finance unit to private equity firm Actis, sources with knowledge of the matter said, following the bank's decision last year to exit the loss-making business.

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StanChart targets 5-7 percent growth in investment bank 21 Nov 2017

LONDON Standard Chartered is aiming to boost revenue growth at its investment bank by a compound annual rate of 5 to 7 percent in the medium term, the head of that business said on Tuesday, while trying to keep risk down and avoid past mistakes.

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FINRA fines JPMorgan $1.25 million for failures in employee background checks 21 Nov 2017

NEW YORK The Financial Industry Regulatory Authority said on Tuesday it fined JPMorgan Chase & Co's securities division $1.25 million (£945,110) for failing to conduct adequate background checks on 8,600 employees, including four people whose criminal convictions automatically disqualified them from working there.

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Hong Kong tribunal fines HSBC private bank HK$400 million for Lehman-linked products 21 Nov 2017

HONG KONG A Hong Kong tribunal on Tuesday imposed a record fine of HK$400 million (£38.7 million) on the private banking unit of HSBC in a case related to the sale of Lehman Brothers-linked structured financial products between 2003 and 2008.

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Australian regulator warns 'debt is easy to get into, hard to pay back' 21 Nov 2017

SYDNEY Australia's banking watchdog warned against sky-rocketing household debt on Tuesday, urging banks to further improve lending standards as well as their understanding of borrowers' spending patterns.

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Rebel Australian lawmakers say to force wide-ranging banking probe 20 Nov 2017

SYDNEY Rebel government lawmakers in Australia vowed on Monday to force a powerful inquiry into the country's scandal-hit banking sector, further turmoil for Prime Minister Malcolm Turnbull as he languishes in the polls amid a citizenship crisis.

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Goldman to have two EU hubs post-Brexit - Frankfurt and Paris: report 20 Nov 2017

PARIS Goldman Sachs Chief Executive Lloyd Blankfein said the bank would have hubs in Frankfurt and Paris after Brexit and that it would be up to the staff to decide where they want to move to from London, he told French newspaper Le Figaro.