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Goldman to open private bank
Heidi N. Moore Jul 17, 2012
In the face of a tough banking market and disappointing earnings, Goldman Sachs announced this week that it will build a private bank -- joining the ranks of UBS and U.S. Trust and others -- that will manage and lend money to very wealthy individuals and companies.
HSBC faces hearing for money-laundering lapses
Stephen Beard Jul 17, 2012
A congressional watchdog panel will be grilling executives from the British bank HSBC about -- get this -- money laundering, drugs and terrorist financing.
Italian debt rating downgraded two levels
Stephen Beard Jul 13, 2012
In Europe today, the focus has shifted from Spain to Italy, in the ongoing EU debt crisis. Moody's credit rating agency has downgraded Italian debt to just two levels above junk status.
The question of adequate financial regulations
Juli Niemann Jul 11, 2012
News this morning that Bob Diamond, the former head of Barclay's bank has given up $30 million in bonuses after resigning over that interest rate rigging scandal. And the scandal has brought up the issue -- yet again -- of whether current regulations on the financial industry are adequate.
British Parliament investigating London's financial center
Stephen Beard Jul 6, 2012
The British Parliament has started investigating the ethics of London's financial center. This follows that big scandal involving the British bank Barclays, which was fined a half billion dollars for rigging a key interest rate called LIBOR.
Former Barclays CEO answers questions on LIBOR rate fixing
Stephen Beard Jul 5, 2012
Yesterday Bob Diamond resigned as CEO of Barclays Bank, and this hour he's sitting before a Parliamentary committee in London. Parliament is investigating the possible manipulation of interest rates by Barclays and other banks.
Newly resigned CEO of Barclays questioned by Parliament
Stephen Beard Jul 5, 2012
Today the freshly resigned CEO of Barclays Bank goes before a parliamentary committee in London. Parliament is investigating the possible manipulation of interest rates by Barclays and other banks.
Barclays CEO Bob Diamond steps down
Stephen Beard Jul 3, 2012
The CEO of Barclays bank is out. Bob Diamond is leaving amid a scandal over banks colluding to fix the price of one of the most important interest rates in the world.
Barclays CEO, COO step down over LIBOR rate manipulation
Jeff Horwich Jul 3, 2012
The CEO of Barclays Bank in London's is resigning -- and, just this hour it looks like we can add the COO -- the chief operating officer -- as well. Last week the bank settled with U.S. and European regulators over allegations it manipulated the "Libor" interest rates to its own advantage.
Heads of Barclays resign after interest rate scandal
Stephen Beard Jul 3, 2012
First, it was the chairman of the board said he was leaving his post; now it's the big man, Barclays CEO Bob Diamond who's stepping down effective immediately. The London-based financial services giant is accused of rigging the level of a key interest rate along with nearly two dozen other banks.
