Citigroup mortgage probe settlement worth $7 billion agreed
A Citigroup mortgage probe settlement has been agreed with US authorities. America’s third largest bank will pay a total of $7 billion to various government...
Barclays abolishes bank cashiers
Barclays abolishes bank cashiers, announcing that its 6,500 UK traditional cashiers will become “community bankers” and will receive a wage hike of 2.8% to...
Wells Fargo net income rises in second quarter
Is a Wells Fargo net income rise a reflection of better banking figures? Being the first major bank to post results for the second...
Burberry investor revolt
In a Burberry investor revolt, fifty-two percent of shareholders rejected CEO Christopher Bailey’s pay package at the annual general meeting (AGM) in London. The...
Burberry first quarter retail revenues up 9%
Trenchcoat maker Burberry first quarter retail revenues increased by 9% (17% at constant currencies) while same-store sales grew by 12%, compared to Q1 2013....
Amazon bypasses Hachette by offering authors all e-book proceeds
In a move aimed at taking authors out of the current dispute, Amazon bypasses Hachette by offering authors all e-book proceeds. Amazon wrote directly...
Latest AbbVie Shire takeover bid sweetened to $51.3bn
Will the latest (fourth) AbbVie Shire takeover bid worth $51.3 billion (£30.1 billion) do the trick? AbbVie’s share plus cash offer comes to £51.15...
German May industrial production fell 1.8%
German May industrial production fell 1.8% from April, on a price, seasonally and working day adjusted basis, the Federal Statistical Office (Destatis) reported today....
Global economic growth is weaker than expected, IMF
Global economic growth is weaker than expected, says Christine Lagarde, Managing Director of the International Monetary Fund (IMF). She predicts that global economic activity...
Moderate Eurozone growth continues
Moderate Eurozone growth is expected to continue, with second quarter 2014 GDP expanding by 0.3%, after the 0.2% growth posted in Q1, say researchers...