HSBC in $100 million forex fraud settlement

British financial giant HSBC has agreed to pay more than $100 million to US authorities after admitting to defrauding clients during multi-billion-dollar foreign exchange transactions, the Justice Department announced Thursday. The settlement follows an indictment handed down Wednesday against a former Barclays trader similarly accused of defrauding the former California computing giant Hewlett-Packard by manipulating foreign… Please follow and like us:

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JPMorgan Chase & Co. Q4 2017 Earnings Beat Estimates

The JPMorgan Chase & Co. Q4 2017 earnings results were released before opening bell this morning. The bank reported adjusted earnings of $1.76 per share on $25.45 billion in revenue, compared to the consensus estimates of $1.69 per share and $25.17 billion in revenue. In the previous year’s fourth quarter, the bank reported $1.71 per share… Please follow and like us:

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Lloyds bank braves Brexit with surge in profits

Lloyds Banking Group said Wednesday that its net profit jumped 63 percent in the first nine months of 2017, as the British economy remains resilient in the face of Brexit. LBG in a statement that its bottom-line net profit rose to £2.8 billion ($3.7 billion, 3.1 billion euros) in the period from January to September from… Please follow and like us:

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It Could Take Goldman Sachs Years To Trade Bitcoin

Goldman Sachs Group Inc. started trending on Twitter on Monday when a spokesperson told the Wall Street Journal it is exploring cryptocurrency options for both trading services and the bank’s strategic investment division. There are already at least 70 hedge funds investing in cryptocurrencies like bitcoin, plus several new hedge funds in the pipeline. “In response… Please follow and like us:

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Wells Fargo CEO defends bank in tough Senate hearing

Wells Fargo’s chief defended the bank’s efforts to rectify a massive fake accounts scandal Tuesday, but faced tough questioning from senators and at least one call for his ouster. Chief executive Tim Sloan, who was promoted to the top job in late 2016 after the scandal exploded, again apologized for the debacle, in which the bank… Please follow and like us:

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Wells Fargo guarantees settlement will repay customers hurt by unauthorized accounts

LOS ANGELES — Wells Fargo & Co. will guarantee that customers harmed by the bank’s practice of opening unauthorized accounts will get back fees they paid and be fully compensated for damage done to their credit scores, according to documents filed early Wednesday to settle several class-action lawsuits. That could mean the San Francisco bank will… Please follow and like us:

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