Financial Services

Goldman Sachs Q1 profit falls

by AAP
US investment bank declines in some key trading divisions, but notched a big gain in financial advisory services.

Freeing the markets from HFT claws

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Weighing in on the high-frequency trading debate, Joseph Stiglitz has reminded us that markets exist to provide a fundamental social purpose rather than to deliver profits for short-term traders.

Broking house founder jailed

by AAP
Sonray Capital Markets director Russell Johnson sentenced to 6.5 years.

Sawhney in key ANZ role

ANZ names Sameer Sawhney new head of global banking, international and institutional banking.

NAB's BNZ appoints Anthony Healy as CEO

Anthony Healy to replace Andrew Thorburn as head of Bank of New Zealand.

Challenger, ACA in infrastructure merger

Firms will create $4bn infrastructure fund through scrip-based merger.

Europe held back by banks: Yellen

US Fed chair says Europe has unfinished work on banking sector rehabilitation.

BofA nears multibillion-dollar settlement

US bank in talks with authorities over shoddy residential mortgage backed securities.

BoQ supported on Investec buy

Bank of Queensland has won strong support for its $440m acquisition of most of Investec’s Australian business.

Thorney fund likes the look of Money3

Alex Waislitz’s private Thorney Group yesterday took half of a $30m bond issue by listed payday lender Money3.

Credit Suisse reports profit plunge

by AFP
Swiss banking giant takes step backward as bond trade slumps.

Bank of America swings to loss on legal costs

by AFP
US bank stung by high costs of resolving its 'mortgage issues'.

Westpac to raise up to $1bn: report

Bank prepares to raise between $500m and $1bn through a listed convertible note.

Challenger boost assets, FUM

Investment management firm lifts total group assets, funds under management.

Yellen urges 'shadow banking' curbs

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Fed chair calls for stronger capital standards, improved credit market regulation.

Credit Suisse subpoened in probe

by AFP
Regulator demands more documents to test claims bank enabled tax evasion.

EU approves 'banking union'

by AFP
New set of rules will prevent failing banks from driving EU states into bankruptcy.

China bank loans surge in March

by AFP
Central bank notes sharp lift in lending, analysts dismiss prospect of monetary easing.

China bank loans surge in March: govt

by AAP
Analysts say China's "credit slowdown is still on track" despite an announcement by the central bank that bank lending surged in March.

Delay super access to 65: FSC

Council recommends increasing age of when superannuation can be accessed.