Results tagged “banking”
The Financial Services Authority has defended its performance last year in its newly published annual report.
The Canary Wharf-based financial regulator endured a torrid time in 2008 with the onset of recession and the near-collapse of the banking system.
Citibank International unveiled its 2008 accounts today and they don't make pretty reading for the beleaguered banking group.
The Wharf-based bank made net credit losses of £532million last year, compared to £125million in 2007.
Victims of the economic downturn are apparently finding new homes in the classroom.
Teacher training organisations are reporting a rise in enquires of almost 45 per cent as layoffs continue to be made in the banking sector.
Barclays' bosses braved the wrath of shareholders today to explain why the bank needed to raise almost £6billion of capital from new investors.
The bank's chairman Marcus Agius told a general meeting of shareholders at Excel today failure to secure the promise of funds from the Middle East could have proved "terminal".
Citigroup is pondering selling itself to a rival bank as senior executives look for ways of securing its future following a dramatic dive in value this week.
Chief Executive Vikram Pandit has called a conference call meeting for this afternoon to try and thrash out a solution to the bank's worsening financial position.
Barclays' £7billion deal to raise capital could be under threat from rebel shareholders and it could spell the end for the bank's existing board.
The Canary Wharf-based bank apparently sealed agreements with a number of Middle Eastern investors to raise the capital it needed to secure its future.
Nomura is unlikely to move its headquarters to Canary Wharf.
The Japanese bank was mulling over moving its 3,600 staff to the former Lehman Brothers office in Bank Street but seem set to stay in the City.
Morgan Stanley looks set to be the next Wharf bank to make major job cuts as the economic gloom sinks lower over London.
Up to 1,100 jobs are expected to be culled at the American bank's Canary Wharf headquarters, despite recent moves taken to avoid meltdown along the lines of Lehman Brothers. A decision is expected to be made in the next few days.
BARCLAYS and HSBC are among the UK banks who have signed up to a rescue package drawn up by the Government.
LEHMAN Brothers employees' September pay packets are safe provided they keep showing up at the bank's Wharf headquarters.
