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Barclays Explores Merger with Standard Chartered to Thwart Activist Investor
Barclays Plc is reportedly exploring a potential merger with rivals, including Standard Chartered. No formal or information bid was made, the Financial Times reported …
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Finally, Sphero Gets Disney’s BB-8 Droid Toy Making Proposal
Disney’s new star wars – BB-8 droid toy will be rolled out soon into your living room by this holiday season. The robot that looks …
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Goldman Sachs to settle Forex lawsuit for $130 million
Goldman Sachs will settle Forex lawsuit by private investors for a sum of $130 million. The lawsuit accused traders at dozen banks for rigging …
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Dudley Warns U.S. Banks to Curb Culture that Breeds Misdeeds or Be Broken Up
William C. Dudley, president of the Federal Reserve Bank of New York, has warned banks to change the way employees are compensated and to …
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Virginia Sues 13 Banks for $1.15Billion over alleged Mortgage Bond Fraud
Citigroup, Bank of America, Goldman Sachs Group, Barclays, HSBC and Royal Bank of Scotland are among 13 banks whose units were sued for $1.15bn …
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Salz report vows Barclays to introduce more changes
The just-issued Salz report much criticized the culture and management practices of Barclays which led to damage of the bank’s reputation. The report vowed Barclays to introduce more changes, including keeping salaries and bonuses in check, in order to regain the social trust.
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IoD Chief Sharply Criticizes UK’s Banks
Simon Walker, the director general of the Institute of Directors, sharply criticized UK’s banks such as Barclays and Royal Bank of Scotland for offering excessive employee compensation in the form of wages and bonuses. Moreover, Simon Walker has underlined that UK’s banking industry is being harmed by bankers’ short-term self interest as banks are breaching the bonus cap formulated by the European Union
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Lenders in control of Mouchel
Mouchel Group Plc. informed that it had agreed to restructure the company. The restructuring will give Mouchel’s lenders a majority interest in the infrastructure firm. In addition the company agreed to delist itself to avert an impending debt default. A consortium of banks, consists of Royal Bank of Scotland, Lloyds Banking Group and Barclays, will take control of Mouchel.
