Three banks accused in price-fixing silver scandal
Deutsche Bank, HSBC and Bank of Nova Scotia illegally rigged the price of silver for their own gain, it has been alleged.
Deals & Markets
BNP Paribas wins €180 billion Generali Group mandate
Italian insurer Generali Group has appointed BNP Paribas Securities Services as global custodian in a restructuring of its asset management operations.
UK SFO launches criminal investigation into FX rigging
The agency said in a statement: “The Director of the Serious Fraud Office has today opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market.”
Poor liquidity in bond markets poses threat to investors, experts warn
The warning comes after US Federal Reserve chairman Janet Yellen announced last week that valuations on “lower-rated corporate debt” are beginning to become “stretched”.
Record earnings for US Bancorp in Q2 2014
Financial services holding company, US Bancorp, today reported record net income of $1,495 million for the second quarter of 2014, or $.78 per diluted common share.
Morrisons loses £68m on sale of Kiddicare
Britain’s fourth largest supermarket chain has confirmed the sale of its Kiddicare business for Endless Capital, a private equity group, for £2m – just three years after it bought it for £70m.
Indian treasurers must spread or shrink, say finance experts
Changes to tax rules mean companies in India will have to diversify their investments or risk diminishing returns, according to industry commentators.
USA’s biggest tobacco companies set to merge
Reynolds American and Lorillard, two of the largest tobacco companies in the US, are thought to have agreed on a price and are in the final stages of deal negotiations, it has been revealed.
Shire shares spike as AbbVie ups its offer
US pharmaceuticals giant AbbVie has raised its bid for Irish-domiciled Shire to £51.15 per share, causing the company’s share price to rocket, it was revealed today.
Blackstone set to buy FCA’s London HQ
In a deal thought to be worth £165m, Blackstone, the private equity behemoth, is preparing to buy the headquarters of the Financial Conduct Authority (FCA), it has been reported.
