One of the financial world's largest ever mergers was effectively unwound on Tuesday as BHP Billiton said it was demerging key assets from its $190bn (£114bn) mining conglomerate – triggering another huge payday for the banks.
On one side are Tony Blair, a powerful consortium of energy interests, including BP, and the autocratic ruler of a former Soviet bloc country. On the other are the olive growers of Puglia and a comedian turned political maverick.
In a week when BP's involvement in Russia once again raised concern among investors, the City can draw consolation from the fact that chief executive Bob Dudley is a veteran of the country's perilous politics.
HSBC, Deutsche Bank and the Bank of Nova Scotia have been accused of attempting to rig the price of silver in the latest price fixing scandal to rock the banking industry.
Credit Suisse’s decision to exit the commodities-trading business will probably result in about half of the unit’s 80 workers globally being cut, people briefed on the matter said.
Oil prices above $200 a barrel. Energy shortages in western Europe. The return of recession to the still-fragile global economy. A slump in Russia. That's the fear haunting policymakers as they contemplate how to respond to the shooting down of MH17 over eastern Ukraine last week.
Morgan Stanley has bought Deutsche Bank's bulk commodities trading book dealing in coal, iron ore and freight forward contracts to expand in commodities derivatives, a source familiar with the matter said on Thursday.
Citigroup has bought Deutsche Bank's U.S. power trading books, the latest move by the bank to build its energy trading business as other Wall Street rivals retreat, two sources said on Tuesday.
Lamprell has suffered a big pay revolt at its annual general meeting – the third year in a row that shareholders have rebelled against pay deals at the oil rig builder.