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Italy's biggest banks sign loan deal with US firm

Italy's two biggest banks, Intesa Sanpaolo and UniCredit, have signed a deal with US private equity firm KKR and restructuring adviser Alvarez & Marsal to create a vehicle for restructured loans, a statement said on Tuesday.

Man takes hostages at bank in central Russian city

Reports say the man wants his money back after learning that the bank’s license has been revoked.

French bank bosses to explain 'indecent' pay

France’s economy minister, outraged by huge pay hikes the bosses of the country’s biggest banks have awarded themselves in the past year, called the chiefs to a meeting to “explain” their “indecent” pay.

Royal Bank of Scotland 'Cleared' Of Ill-Treating Small Firms

A review ordered by the Royal Bank of Scotland has cleared the lender of fraud against small and medium-sized business customers.

Anglo Irish Bank accused could each face five years in prison for each offence

After being found guilty of 10 counts of providing unlawful financial assistance to ten developers, former Anglo Irish Bank executives Pat Whelan and Willie McAteer will return for sentencing on 28 April.

Société Générale faces €1 billion lawsuit over Gaddafi ties

French bank Societe Generale has been hit Monday with a €1 billion lawsuit in British court for allegedly channelling bribes to allies of the son of deposed Libyan dictator Moamer Gaddafi.

Real crisis in Irish economy may be yet to come, warns economist

Morgan Kelly, the first economist to predict the likely scale of the Irish banking collapse, has said the “real crisis” for the Irish economy has not yet happened.

Allied Irish Banks seeking to 'write off' €3.5bn of money owed back to the taxpayer

Allied Irish Banks is in talks with the Government that could see a €3.5bn portion of the bank's bailout loans effectively written off this year.

'No bank should be promised eternal life'

The governor of the Central Bank of Norway (Norges Bank) has called for his country to intensify reforms so that the country's taxpayer will not have to bail out its banks in a future financial crisis.

RBS's Ulster Bank faces crunch month

Workforce is bracing for the axe to fall as bank's parent company RBS gets ready to publish a review of its global operations.

Barclays Bank customer data stolen and sold on

Investigations are underway following reports that confidential files relating to customers of Britain’s second-largest bank, Barclays, have been stolen and sold to brokers.

Immature banks jeopardize Sweden - Finance Minister

Swedish Finance Minister Anders Borg has said the country's banks have turned a deaf ear to repeated pleas for steeper capital requirements, with the government now ready to legislate to get them to comply.

Brazilian corruption case banker arrested in Italy

The former marketing head of the Banco do Brasil, Henrique Pizzolato, ensnared in a huge corruption scandal, has been arrested in Italy, Brazilian police said on Wednesday.

JPMorgan, Morgan Stanley fined $1.8 bn for concealing pre-crisis mortgage risk

Morgan Stanley has agreed to pay $1.25 billion to the US government, and JPMorgan has been fined $614 million as a penalty for concealing the full risk associated with mortgage securities.

Brawl in Italian parliament as controversial law railroaded through

In a move that drew the ire of legislators from Beppe Grillo's Movimento Cinque Stelle party, a law to create a new ownership structure for the Bank of Italy was coupled together with a provision that freed householders from having to pay the second installment of the household tax and railroaded through parliament. Opposition politicians have claimed that the change to the ownership structure is tantamount to a €7bn bailout of the shareholding banks, all of it taxpayer funded.

HSBC Bank Refuses To Let Customers Withdraw Large Sums

HSBC have been accused of quizzing customers withdrawing large sums on cash on what they want to spend it on - and demanding proof of what they will purchase.

London seeks to reform 100-year-old ‘gold fix’

Pricing probes have forced London’s biggest banks to consider a systemic overhaul of the dated practice of "fixing" gold prices, which sets spot pricing for the world’s $20 trillion physical gold market.

'Terrorism funding just one thing banks getting away with' - HSBC whistleblower

Banks say they are the pillar of the modern society - ruling the streams of money across the globe and keeping a tight grip on the world's economy; What is going on in offices of top level management is kept in a most valuable secrets. Even governments are afraid to get in confrontation with the enormous financial giants.

'Terrorism funding just one thing banks getting away with' - HSBC whistleblower

South Korean credit card firms under fire as 20 million users’ details stolen

South Korean credit card firms are being investigated for failing to ensure the security of their clients’ data. Financial bosses bowed in apology as prosecutors said it took a USB stick for a contractor to steal credit card details of 20 million people.

Greek central bank chief received bullets in mail

Greece’s central bank chief received two rifle bullets and a threatening letter in a mailed envelope, police said on Friday. They said a previously unknown group called People’s Punishers posted the envelope to central bank Governor George Provopoulos. They gave no further details.

Credit squeeze 'killing' 90 Spanish firms a day

Spanish banks, alarmed by multiple bankruptcies and mass unemployment, are keeping a tight rein on loans and potentially choking off the lifeblood of a longed-for economic recovery, analysts say.

Barclays traders to face U.K. Libor questioning

Several former Barclays Plc (BARC) traders suspected of involvement in Libor manipulation were ordered to report to U.K. fraud prosecutors for interviews, according to a person with knowledge of the case.

Libor: Three former Rabobank traders charged in the US

A Briton is among three former Rabobank traders charged in the US for allegedly conspiring to manipulate the Yen Libor benchmark interest rate since 2006.

Pound Foolish: Exposing the Dark Side of the Personal Finance Industry

For the past several decades, the personal finance industry has convinced Americans that we are the sole masters of our financial fates. Even as stagnating wages and rising costs of necessities have eaten away at many families' bottom line, voices within the industry chant that enough grit, the right advice, and the latest tools will cure what ails their financial lives. In Pound Foolish, journalist and former financial columnist Helaine Olen argues that, instead of an elixir, the American people have been sold a bill of goods.

Pound Foolish: Exposing the Dark Side of the Personal Finance Industry

$2 bln compensation closer for 7 million victims of insurance mis-selling

Clients mislead by 13 of Britain’s biggest banks and credit card insurer CPP have agreed a proposed reimbursement scheme, which means the estimated seven million customers should get a share of a $2 billion in compensation by the spring.

Dreams Dashed: 'Bully banks' snatch up small businesses across Britain

To get a small business off the ground, you need the backing of a bank. But choose carefully - because not all seem to have your entrepreneurial interests at heart. RT report on one couple in Britain who found their lender more predatory than protective - and discovered they are far from alone.

Dreams Dashed: 'Bully banks' snatch up small businesses across Britain

Shocking Saxo Bank 2014 predictions: How real?

  • EU wealth tax heralds return to a Soviet style economy
  • The anti-EU alliance will become the largest group in EU Parliament
  • Another nasty surprise, Tech bubble ready to burst in 2014
  • Brent crude will drop to $80 per barrel
  • 2014 will see Europe powerhouse Germany in recession

JP Morgan Pays $2 Billion to Avoid Prosecution for Its Involvement In Madoff Ponzi Scheme

Bernie Madoff has said all along that JP Morgan knew about – and knowingly profited from – his Ponzi schemes.

So JP Morgan has agreed to pay the government $2 billion to avoid investigation and prosecution.

Bailed-out AIB treats staff and spouses to four-star hotel stay

Bailed-out bank AIB paid for hundreds of staff and their spouses to stay overnight in a four-star hotel for a retirement course.

U.S. judge asks: Why haven't the financial executives been prosecuted?

As the five-year statute of limitations approaches for the wrongdoing that bequeathed us the Great Recession, the question of why no high-level executives have been prosecuted becomes more urgent.


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