The EU parliament is pushing for greater transparency rules that would require banks to report taxes and profits on a country-by-country basis, reports ft.com.
Undaunted by the string of new hedge funds that failed to take off, JPMorgan’s global head of equity proprietary trading, Deepak Gulati, is said to be parting ways to launch a hedge fund in Switzerland. Considered one of the bank’s most successful traders, Gulati has passed over London to make Zeg, the low-tax Swizz town, […]
Europe’s investment banks, including Barclays, Credit Suisse and UBS, will cut their bonuses by 20% in the coming weeks, reports ft.com. The move will increase the pay gap between U.S. rivals, adds ft.com, and will reduce overall bonus levels for 2012 by up to 15%. Read more. Also read: France won’t be Eurozone victim Time […]
Goldman Sachs and Morgan Stanley have backed away from their aggressive pursuit of a full banking licence to operate in India, a decision that points to the growing cost of expanding business in India, reports FT.com. While Morgan Stanley has decided to withdraw its application for a commercial banking licence, Goldman Sachs, which also applied […]
The TD Bank has drawn the ire of a U.S. politician over allegations that the bank finances Smith & Wesson.
Andrew Tinney, wealth and investment management chief of Barclays, has resigned.
With bond sales figures for 2012 hitting $1.4 trillion, the bar has been set rather high for 2013. And while the recent deals about the U.S. fiscal cliff and the Euro have infused some vigour in the market, investors are concerned this may mask the issue of inadequate supply of high-yielding assets, says a report […]
While some people try to shed a few pounds gained over the holidays, Canadians should also start the new year making sound financial resolutions. According to the 2012 BMO Holiday Spending Outlook, 12% of Canadians plan to borrow during this period and indicate this is the only time of the year where they spend beyond […]
UBS is currently in a dismal position, as it pays out billions over Libor-fixing allegations.
With the year drawing to a close, BMO economists converged today to look back on 2012.