LATEST

BofA can now become a 'profit powerhouse'

Brian Fonzie Moynihan

Billionaire Warren Buffett has predicted Bank of America will become a profit powerhouse once it finally resolves legal battles that have sapped funds and distracted managers. Now we’ll find out if he’s right.

CEO's salary surpasses Citi's Toyko profit in 2013

Tokyo

Citigroup earned less from running a bank in Japan than its global chief executive officer’s salary last year, helping explain why the U.S. bank is considering selling the consumer business as Abenomics crushes loan returns.

HOT LIST

Standard Chartered Shanghai Towers

Pressure rises for Standard Chartered board

A $300m fine on Standard Chartered for lapses in anti-money laundering controls has piled pressure on the bank's board, coming after a series of transgressions and a drop in earnings that had prompted calls for change at the top.

Money On Hook

Big BofA fine is government extortion: Kovacevich

The $16.65 billion settlement by Bank of America over financial crisis-era mortgage securities highlights a pattern of the government extorting the banks, said Dick Kovacevich, former Wells Fargo chairman and CEO.

HSBC branch

HSBC will probably spend less on compliance

HSBC Chairman Douglas Flint said the cost of policing potential wrongdoing will probably decrease after Europe’s largest bank by market value spent billions of dollars to toughen its internal controls in the wake of a series of scandals.

FEATURED

Brian Fonzie Moynihan

BofA can now become a 'profit powerhouse'

Billionaire Warren Buffett has predicted Bank of America will become a profit powerhouse once it finally resolves legal battles that have sapped funds and distracted managers. Now we’ll find out if he’s right.