America’s major telecoms and cable companies and business groups came out fighting on Monday after Barack Obama called for tough new regulations for broadband that would protect net neutrality, saying they were “stunned” by the president’s proposals.
UBS and Credit Agricole have been deemed by regulators as less important to the global financial system than a year ago and will not have to hold as much extra capital as previously forecast.
Shares in Standard Chartered slid to their lowest level in five-and-a-half years on Thursday after reports that US authorities had reopened an investigation into the bank over breaching sanctions with Iran.
Barclays has given an indication about the scale of potential fines looming across the banking industry by setting aside £500m to cover the cost of the on-going investigations into rigging currency markets.
Two ex-Rabobank traders have been charged by the US Department of Justice with manipulating the Libor rate.
Europe’s top banking regulator is cracking down on major banks, warning them they should not try to get around the EU’s cap on bonuses by handing their staff extra payments.
The City regulator was closing in on six banks at the centre of alleged rigging of the foreign exchange market in London on Friday, which could face fines totalling up to £2 billion.