UK banks fined €1bn by EU for rigging foreign exchange market

European commission says decision shows ‘collusive behaviour will not be tolerated’Five banks including Barclays and Royal Bank of Scotland have been fined a total of more than €1bn (£875m) by the European Union for rigging the multi-trillion dollar fo…

Read more

Wall Street loves socialism for bankers, but not for ordinary people | Robert Reich

JPMorgan CEO Jamie Dimon decries socialism. Unless of course it’s the banks that need a government bailoutIn his annual letter to shareholders, distributed last week, JPMorgan Chase CEO Jamie Dimon took aim at socialism, warning it would be “a disaster…

Read more

Billionaire JP Morgan chief attacks socialism as ‘a disaster’

Jamie Dimon: socialism leads to ‘corruption and favouritism’America’s top banker, paid $31m last year, defends capitalismThe world’s most powerful banker has attacked socialism, saying it produces “stagnation, corruption and often worse”. Related: Jami…

Read more

Jamie Dimon, spare us your crocodile tears about inequality | Robert Reich

If the CEO of JP Morgan really cared about American workers, he would put an end to corporate executives like him rigging the systemIf I may be so bold as to try to lure your attention away from Trump and Mueller for a moment, consider Jamie Dimon’s la…

Read more

UK bankers on standby as City readies no-deal contingency plans

JP Morgan and Goldman Sachs poised to move staff to EU offices by 29 MarchHundreds of UK bankers at JP Morgan and dozens from Goldman Sachs are on standby for relocation to EU offices by 29 March, regardless of Parliament’s vote to delay Brexit.The exo…

Read more

RBS braces for no-deal Brexit by shifting £13bn to Netherlands

Banks prepare for market volatility surrounding vote on Theresa May’s withdrawal dealRoyal Bank of Scotland has ramped up its Brexit contingency plans, and is preparing to move a third of its investment bank clients and billions worth of assets out of …

Read more

Whistleblower reveals more players in £178bn Danske Bank scandal

A European lender and two US banks alleged to be involved in money-laundering caseA major European lender and two US banks have become embroiled in an alleged €200bn (£178bn) money-laundering scandal at Danske Bank, following new testimony by a key whi…

Read more

MPs call for crackdown on Russian oligarchs using City to avoid sanctions

Government urged to impose tough measures following controversial London flotation of Oleg Deripaska’s En+ groupLabour has called on ministers to toughen the scrutiny and regulation of City flotations as a matter or urgency following the controversial …

Read more