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Pandit pie in realty firm

Nov 22, 2014 at 08:07 | Source: Calcutta Telegraph News

Mumbai, Nov. 21: A global fund led by former chief executive of Citigroup Vikram Pandit has invested Rs 540 crore in FICS Consultancy Services, the real estate lending arm of JM Financial. Pandit has also joined the board of FICS as a non-executive ...

Six banks fined £2.6bn by regulators over forex failings

Nov 17, 2014 at 20:51 | Source: BBC

Six banks have been collectively fined £2.6bn by UK and US regulators over their traders' attempted manipulation of foreign exchange rates. HSBC, Royal Bank of Scotland, Swiss bank UBS and US banks JP Morgan Chase, Citibank and Bank of America ...

China's Alibaba eyes first bond sale after record listing

Nov 14, 2014 at 11:52 | Source: BBC

Chinese e-commerce giant Alibaba is set to meet with investors next week as it considers issuing its first US bond sale. The tech giant has hired Morgan Stanley, Citigroup, Deutsche Bank and JP Morgan to manage the sale. Alibaba would offer dollar-de...

JP Morgan faces US currency trading probe

Nov 07, 2014 at 12:42 | Source: BBC

JP Morgan Chase, the largest bank in the US, has revealed it is under investigation over currency trading. The firm said the US Department of Justice (DoJ) had launched a criminal investigation, while other regulators are running civil investigations...

Bank of America adjusts results due to legal costs

Nov 07, 2014 at 12:42 | Source: BBC

Bank of America has set aside $400m (£253m) due to rising litigation costs associated with a probe into foreign currency manipulation at the bank. That more than tripled the size of its previously-reported third-quarter loss to $232m from $70m. The ...

Citigroup sets aside another $600m to cover legal costs

Oct 31, 2014 at 12:22 | Source: BBC

Investment bank Citigroup is setting aside an extra $600m to cover legal expenses due to rapidly evolving regulatory inquiries . The money relates to likely settlement of claims that Citigroup manipulated the foreign exchange market. On Thursday, Bar...

Bank of America sees profit fall on mortgage settlement

Oct 15, 2014 at 21:57 | Source: BBC

Bank of America has reported a big drop in profits due to a multi-billion dollar settlement with US authorities. Net profit for the three months to the end of September was $168m (£106m), down from $2.5bn a year earlier. Total revenue was $21.4bn. T...

Twin hurdles to ONGC share sale

Oct 13, 2014 at 12:47 | Source: Calcutta Telegraph News

New Delhi, Oct. 12: The stake sale in state-owned ONGC could be pushed back to the end of the current quarter on account of a lack of clarity on new gas prices and the subsidy sharing formula. While the government has indicated that the new gas pric...

Reliance looks to exit gas venture in US

Oct 12, 2014 at 14:22 | Source: Calcutta Telegraph News

Mumbai, Oct. 11: Reliance Industries is seeking a buyer for its stake in the Eagle Ford Basin oil and natural gas joint venture with Pioneer Natural Resources in the US. Reliance has an interest of over 45 per cent in the property that it acquired i...

Rating blow to Infy scrip

Oct 09, 2014 at 18:42 | Source: Calcutta Telegraph News

Mumbai, Oct. 8: Shares of Infosys were battered today following a downgrade by foreign brokerage Citigroup. This comes at a time expectations are building up ahead of the company’s second-quarter results on Friday. Citi downgraded the stock to...

Experts warn Hong Kong protests could hit city's role as finance hub

Oct 02, 2014 at 12:16 | Source: FirstPost

Hong Kong: Shops in Hong Kong have closed and the local stock market has plunged but protesters are gambling their agitation for greater democracy will pay off by preserving institutions that made this former British colony a profitable asset to Chin...

Argentina found to be in contempt of court by US judge

Sep 30, 2014 at 12:57 | Source: BBC

A US judge has ruled that the Republic of Argentina is in contempt of court for refusing to obey an order to repay the debt it owes to two US hedge funds. Argentina has been mired in a US court dispute with the funds, which bought the country's ...

Indian media praise Modi's investment pitch to US firms

Sep 30, 2014 at 12:57 | Source: BBC

Papers are praising Prime Minister Narendra Modi's efforts to sell India as an investment destination to US companies. Mr Modi, who is on a five-day visit to the US, met the CEOs of top companies in New York on Monday. During the breakfast meeti...

Protesters stay out on Hong Kong streets, defying Beijing

Sep 30, 2014 at 01:15 | Source: FirstPost

HONG KONG (Reuters) - Tens of thousands of pro-democracy protesters blocked Hong Kong streets in the early hours on Tuesday, maintaining pressure on China as it faces one of its biggest political challenges since the Tiananmen Square crackdown 25 yea...

In US, PM Narendra Modi will market Brand India to top CEOs

Sep 27, 2014 at 04:22 | Source: Economic Times

NEW DELHI/WASHINGTON: When Prime Minister Narendra Modi sits down to breakfast with the CEOs of top US companies Monday, he will be speaking to them with the knowledge and authority of a business honcho who knows what he wants and can possibly marke...

Rivals dash to support Apple Pay for fear of losing out

Sep 19, 2014 at 23:56 | Source: Economic Times

FRANKFURT: In the hype-fuelled technology industry, "revolutionary" is a word in danger of losing its meaning. But Apple Inc's new mobile payments system - unveiled just ten days ago - is already winning over the heavyweights of the financial industr...

Apple Pay can be a game changer if backed by retailers

Sep 11, 2014 at 11:31 | Source: Economic Times

Apple Inc's launch of its own tap-to-pay system using near-field communication in its new iPhones and smartwatches may not be a game changer after all. The success of Apple Pay, unveiled at a gala launch on Tuesday, hinges on the willingness of retai...

Cabinet clears selloff in PSU trio

Sep 11, 2014 at 08:37 | Source: Calcutta Telegraph News

New Delhi, Sept. 10: The Modi government today kick-started the divestment process by approving a stake sale in Coal India, ONGC and NHPC, which is likely to fetch the exchequer about Rs 43,000 crore this financial year. The Cabinet Committee on Eco...

Retailers seen unlikely to warm up to Apple Pay

Sep 11, 2014 at 04:35 | Source: Economic Times

Apple Inc's launch of its own tap-to-pay system using near-field communication in its new iPhones and smartwatches may not be a game changer after all. The success of Apple Pay, unveiled at a gala launch on Tuesday, hinges on the willingness of reta...

Indian bank branches in UK face closure heat

Sep 08, 2014 at 08:57 | Source: Calcutta Telegraph News

London, Sept. 7 (PTI): At least seven foreign-owned retail bank branches in the UK, including some Indian ones, could be forced to close down in a crackdown on overseas banks to insulate the British economy from the global crises. A consultation lau...

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