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Banking

​Business as usual? HSBC must clean up its own affairs, says Chancellor Osborne
Following a long, drawn-out silence on the government’s failure to adequately address the HSBC tax scandal, George Osborne has finally spoken. Washing his hands of any responsibility, the Chancellor says it is up to HSBC to puts its house in order.

04.03.2015 15:30

​Royal Bank of Scotland to cut 80% of investment banking unit - media
Royal Bank of Scotland (RBS) is to drastically cut its investment banking unit, with media reports suggesting as many as 14,000 out of the department’s 18,000 workforce will be laid off by 2019, mainly in Asia and the US.

04.03.2015 08:22

Ukraine’s fourth largest lender Delta Bank insolvent – national bank
The fourth biggest bank in Ukraine, Delta Bank, has gone bankrupt after months of non-compliance, according to the National Bank of Ukraine. Two smaller banks in the Delta Banking group have also gone belly-up.

03.03.2015 10:49

Conflict of interests? BBC Trust chief earns £10K per day from HSBC
The chairwoman of the BBC Trust is facing calls to sever ties with HSBC after it was revealed that she earns £10,000 a day from the scandal-ridden global banking giant.

02.03.2015 10:01

What the BRICS plus Germany are really up to?
Winston Churchill once said, “I feel lonely without a war.” He also badly missed the loss of empire. Churchill’s successor – the ‘Empire of Chaos’ – now faces the same quandary. Some wars – as in Ukraine, by proxy – are not going so well.

27.02.2015 13:43

​Bailed-out RBS offers staff ‘outrageous’ bonuses despite £3.5 bn losses in 2014
Royal Bank of Scotland (RBS) chief Ross McEwan has conceded the 80 percent state-owned bank will pay staff lucrative bonuses from a pool of £421 million, despite the fact it faced losses of £3.5 billion in 2014.

26.02.2015 16:01

Corruption: Chronic UK disease infecting establishment, dragging country backwards
Just as the British government announces the deployment of troops to Ukraine as ‘advisors’, it is rapidly becoming apparent that the average Member of Parliament in the UK is as crooked as Uri Geller’s cutlery.

25.02.2015 15:35

HSBC chief rejects direct responsibility for bank's criminal activity in Switzerland
HSBC chairman Douglas Flint has failed to take direct responsibility for the bank’s alleged criminal transgressions in Switzerland. He told MPs he should not be subjected to a bonus clawback.

25.02.2015 11:52

Top international banks face US probe for alleged precious metals market fix
The US Department of Justice is in the early stages of an investigation into at least 10 international banks—including JPMorgan Chase, Goldman Sachs and Barclays—over alleged manipulation of the precious metals market.

24.02.2015 15:48

Japan’s credit card firm to start using Russia’s national payment system by end of 2015
The Japanese JCB payment system is ready to start working with Russia’s national payment system (NPCS) by the end of 2015, according to company CEO Takashi Suetsugu.

24.02.2015 12:57

Greece - purgatory postponed
In an era of wanton government economic illiteracy, the latest case of ‘Kickcanistan’ mentality from Europe’s government caste has led to a political fudge ignoring economic reality allowing victory bleats by politicians with policies doomed to failure.

24.02.2015 10:25

‘Eye popping’ City bonuses highlight scale of UK inequality – tax justice group
Bonuses paid by financial firms since the onslaught of the financial crisis will surpass £100 billion in 2015. Campaigners warn that Britain’s finance sector is continuing to breed inequality, while ordinary taxpayers clean up the mess.

23.02.2015 16:01