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News Tag: investment banks

December 30, 2010

FSA imposes record fines in 2010

by Kay Mitchell
Figures show that UK watchdog, the Financial Services Authority (FSA), has stepped up its fines this year after imposing a record £89 million in 2010, compared with £35 million in 2009. However, fines in the UK are still significantly lower than those imposed in the US, which usually exceed the $500 million mark. This year saw the FSA impose record fines on ...

July 9, 2008

Emergency cash available to US investment banks

by Kay Mitchell
Investment banks in the US are being given access to emergency funds from the Federal Reserve if the current financial turmoil continues. The Fed’s chairman, Ben Bernanke, announced the decision yesterday and hopes it will allay the banking giant's fears on Wall Street who are facing a challenging time currently due to the credit crisis. Mr Bernanke added that the central ...

July 7, 2008

Financial recruitment grinds to a halt

by Kay Mitchell
Recruitment in London’s financial services industry has ground to a halt according to international recruitment group, Michael Page. As the economy grinds to a virtual standstill, demand for staff in the banking industry has slowed considerably over the last few months said the group. Michael Page said several banks have been relocating staff to growing economies such as China, Dubai, Mexico and Russia. ...

June 17, 2008

Goldman Sachs reports 11% fall in profits

by Kay Mitchell
US investment banking giant, Goldman Sachs, has announced an 11% fall in quarterly profit. However, the results were below analysts' expectations and the company's share price saw a boost after the news. In the quarter to the end of May, Goldman reported net income of $2.09 billion (£1.1 billion), compared with $2.33 billion a year ago. While its business has ...