Goldman Fined over Information Leaks

13 Apr 2012 @ 23:20
Goldman Sachs (NYSE:GS) , the controversial New York based investment bank, has been fined $22 million by the U.S. Securities and Exchange Commission (SEC) for reportedly tipping off top clients about stocks. The SEC alleges that between 2006 and 2011, information from weekly equity research meetings between the firm’s analysts and traders was leaked to […]

NBNK Takes the Lead on Lloyds Branch Deal

13 Apr 2012 @ 02:31
NBNK Investments (LSE:NBNK), an investment vehicle focused on domestic banking, appears to have become the leading bidder for 632 Lloyds Banking Group branches.  Lloyds is attempting to sell the branches as a condition of being bailed out by the government in 2008. NBNK is reportedly willing to bid between £1.5 million and £2 million according […]

Goldman Executive Exposes "Toxic" Culture in Scathing Editorial

16 Mar 2012 @ 01:56
Shares of Goldman Sachs (NYSE:GS) closed down 3.4% yesterday after a now former executive published a scathingly expository editorial in the New York Times. The London-based executive, Greg Smith, headed the firm’s United States equity derivatives department in EMEA and had been with the firm for 12 years, beginning as a summer intern. Smith asserted […]

Barclays Reports Executive Remuneration

10 Mar 2012 @ 02:47
Barclays (LSE:BARC) Chief Executive Bob Diamond earned £6.3m in remuneration last year according to its annual report, made available online today. For 2011, Diamond earned £1.35m in base salary, £2.7m in bonuses, and £2.2m in long-term incentives. Though Diamond earned £9m in 2010, £2.7m more than 2011, the announcement comes at a time when banking […]

Standard Chartered Posts Profits for 9th Consecutive Year

01 Mar 2012 @ 00:36
For the ninth consecutive year, Standard Chartered (LSE:STAN) posted income and profit growth, beating the economic woes that have swept the banking industry in 2011. With an income growth of 10% from a year ago, the international banking group earned $17.6 billion and made a profit of $6.7 billion out it, representing an 11% increase […]

Barclays Bank named Culprit in £500M Tax Avoidance Schemes

29 Feb 2012 @ 02:11
Barclays (LSE:BARC) confirmed they are the bank involved in the crackdown of HM Revenue & Customs for tax avoidance schemes, which was announced the day before. Exchequer Secretary David Gauke, announced on Monday, 27th February they had stopped two schemes of an unnamed bank, which could have generated £500 million in taxes, in a rare act of “retrospective […]

Lloyds Banking Group Suffers £3.5 billion losses in 2011

25 Feb 2012 @ 03:24
Lloyds Banking Group (LSE:LLOY) reported an annual loss of £3.542 billion in 2011, a very steep downfall from the £281 million profit it made in 2010, citing the £3.2 billion Payment Protection Insurance (PPI) provision as the single biggest factor behind the loss. Still, Chief Executive António Horta-Osório said the Group delivered “a resilient performance […]

Barclays Suffers Mixed Results

11 Feb 2012 @ 03:14
Barclays (LSE:BARC) saw its adjusted profits before tax in the UK retail and business banking operation to rise sharply at 60% to £1.42 billion compared with £889 million it posted in 2010, figures shown in the last reported fiscal year. Barclays were able to increase profits in the retail and business banking division by 48% from £2.235 […]

RBS succumbs to Public Pressure

31 Jan 2012 @ 02:03
Royal Bank of Scotland Group (LSE:RBS) Chief Executive Officer Stephen Hester will no longer receive his £970,000 worth of RBS shares bonus. The decision came after the Labour Party leader Ed Miliband declared they will rouse the House of Commons to a vote over the controversial remuneration package. The news first broke out on Thursday, […]

RBS Executive Receives Hostile Public Reception for Hefty Bonus

27 Jan 2012 @ 20:36
Royal Bank of Scotland (LSE:RBS) CEO, Stephen Hester bonus of £963,000 in shares has come under scrutiny from various parties. To the anger of many Britons, the board of directors of the state-owned bank awarded Mr. Hester with the annual bonus which a majority of ordinary workers struggle to earn in a lifetime. The move […]
Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210920 18:18:05