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Six banks settle European bond price fixing litigation in New York
Six banks settle European bond price fixing litigation in New York. Investors accused the banks of conspiring to rig prices of European government bonds. The alleged collusion occurred between 2007 and 2012. All six banks denied wrongdoing in agreeing to settle the case. The case is part of more than a decade of litigation.
Reuters · 1h ago
Citi expects copper to recover to $9,500/t within three months
Citi Research expects copper to recover to $9,500/t within three months and touching $11,000 by early 2025. The bank attributed the expected rally to a recovery in global manufacturing sentiment. Copper prices were trading below $ 9,100 per ton level on Friday.
Reuters · 15h ago
UPDATE 1-UK Libor trader Hayes given permission to appeal rate-rigging conviction at Supreme Court
UK Libor trader Tom Hayes given permission to appeal rate-rigging conviction at Supreme Court. Hayes was convicted in 2015 of conspiracy to defraud by manipulating Libor. He is the first trader jailed worldwide for interest rate rigging. Hayes and another trader have appealed against their conviction earlier this year.
Reuters · 1d ago
EX-LIBOR TRADER TOM HAYES GRANTED PERMISSION TO APPEAL RATE-RIGGING CONVICTION AT UK SUPREME COURT
Reuters · 1d ago
BofA payments app for businesses handled record $500 billion by mid-year
BofA payments app for businesses handled record $500 billion by mid-year. Payments on the app are projected to exceed $1 trillion this year from $802 billion last year. Banks aim to capitalize on surging payments revenues worldwide. Bank of America’s CashPro app handled a record $ 500 billion in payments through its clients.
Reuters · 1d ago
RPT-BREAKINGVIEWS-CrowdStrike in cursed grip of corporate klutz club
Cybersecurity software developer CrowdStrike has lost 20% of its market capitalization. The average stock-price drop in a crisis is 12%, says John Foley. CrowdStrike is latest big company to gauge willingness of investors to move past a catastrophe. He says it's hard to imagine a similar outcome for a company in corporate klutz club.
Reuters · 1d ago
EXCLUSIVE-Barclays reaps hedge fund riches in battle of the prime brokers
Barclays climbs to fifth in prime brokerage fee battle. Prime brokers serve hedge funds' increasingly complex trades. British bank has risen to 5th in the revenue table for prime broking for the year to the end of June. Goldman Sachs, JPMorgan and Morgan Stanley dominate the industry. Business shows stable returns & growing slice of equities fees.
Reuters · 1d ago
UPDATE 3-Julius Baer shares slide on profit miss, tepid cash inflows
Julius Baer shares slide on profit miss, tepid cash inflows Shares fall 10% following results Net profit missed forecasts CEO says customer concerns over Signa losses fading. Swiss private bank's shares fall 10%. Julius Baer reported only a tepingid increase in cash infl flows from rich clients.
Reuters · 1d ago
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