Banking
EU’s 2018 bank stress test considered too mild
Last year’s European Union bank stress test did not appropriately reflect systemic risks, EU auditors said on Wednesday, a shortfall that may…
Deutsche Bank axes whole teams in Asia-Pacific
Whole teams in Deutsche Bank’s Asian operations were told their positions were gone on Monday, as the lender began axing 18,000 jobs…
Turkish central bank chief fired
Turkish President Recep Tayyip Erdogan has fired the governor of the central bank and replaced him with his deputy. No official reason…
Deutsche Bank braced large layoffs
The Financial Times reports that Deutsche Bank staff are bracing themselves for one of the most severe job culls in banking since…
Australian bank bans credit card use for gambling
An Australian financial institution, Macquarie, has announced that it will no longer allow its bank-issued credit cards to be used for making…
Danske Bank fires head of Danish banking activities
Danske Bank said on Monday announced it had dismissed the head of its Danish banking activities, Jesper Nielsen Nielsen was also the…
Deutsche Bank to cut its US equity and trading units, creating a €50 billion ‘bad bank’
Deutsche Bank is readying a revamp and may shut or slash all equity and trading business outside of Europe, according to a…
EU reviewing past money-laundering cases at banks in the EU
The European Commission is reviewing past money-laundering cases at EU banks to assess what went wrong and decide possible tweaks to rules.…
Danske Bank selling Estonian private loans unit
Danske Bank, which has been embroiled in a major money laundering scandal, has agreed to sell its portfolio of Estonian private loans…
Facebook plans to launch its own cryptocurrency
Facebook is planning to launch its own cryptocurrency, dubbed GlobalCoin, in early 2020, allowing users to make digital payments in a dozen…
EU drops Aruba, Barbados and Bermuda from tax-haven blacklist
European Finance Ministers meeting in Brussels dropped Aruba, Barbados and Bermuda from its tax-haven blacklist. The list, now down to 12 countries…
Five banks fined over a billion euros by EU
EU antitrust regulators on Thursday fined Barclays, Citigroup, JPMorgan, Mitsubishi UFJ Financial Group and Royal Bank of Scotland a total of 1.07…