Friday 29 May 2015
 
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JP Morgan

Global banks admit guilt in FX probe, fined $6bn

Four major banks pleaded guilty on Wednesday to trying to manipulate foreign exchange rates and, with two others, were fined nearly $6 billion in another settlement in a global probe into the $5 trillion-a-day market. Citigroup In

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5 banks face criminal charges, $5bn bill over FX rigging

Five of the world's biggest banks are expected to be hit with a combined bill of more than $5 billion and criminal charges on Wednesday in a settlement with US and British authorities over rigging of currency markets. It will

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JPMorgan, others to plead guilty to forex rigging

The parent companies or main banking units of as many as five major banks, rather than their smaller subsidiaries, are expected to plead guilty to criminal charges over manipulation of foreign exchange rates, people familiar with the matter said

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StanChart picks ex-JPMorgan executive as CEO

Standard Chartered said former JPMorgan investment bank boss Bill Winters will take over as chief executive in June to replace Peter Sands, after investors demanded change at the helm following two years of problems. Asia-focused

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JP Morgan named ‘Best Global Private Bank’

JP Morgan has been named the world’s “Best Global Private Bank” in Euromoney’s 12th annual survey of the global private banking industry.  The survey was based on a peer review of private banking compe

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Global factory growth ends 2014 on low note

Global manufacturing activity expanded at its weakest pace in more than a year at the end of 2014, even though factories cut their prices at the steepest rate for nine months, a business survey showed on Friday. JPMorgan's Glo

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JP Morgan appoints head for Saudi operations

JP Morgan has hired Fahad Al Deweesh as head of its investment banking coverage in Saudi Arabia at a time when the kingdom is in the process of opening its markets to foreign investors, and by extension to the international banks that service th

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JP Morgan to advise Savola on Americana stake buy

Saudi Arabia's Savola Group has appointed JP Morgan to advise on its potential purchase of a stake in Kuwait Food Co (Americana), the Jeddah-based firm said. Savola previously said in August it had held preliminary talks with

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Tough US laws offer opportunity for Bahraini banks

Bahrain-based banks need to treat tougher US action on non-compliance with sanctions as an opportunity, an expert has said. Growing use, more active enforcement and harsher fines for non-compliance with US sanctions not only pose

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Mega deals drive global M&A activity

A string of large transactions drove the value of global mergers and acquisitions (M&A) activity up by 54 per cent in the first quarter compared to the same period last year, reflecting greater deal-making confidence among chief executives.

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