Standard Chartered Plc and Citigroup Inc. have seen their $6 billion bet on South Korea turn sour in less than 10 years as the two banks struggle to sustain profits in an economy plagued by rising household debt.
HSBC Holdings Plc dropped out of talks to settle a European Union antitrust probe into rigging of Euribor lending rates, according to a person familiar with the investigation, as regulators prepare to hand out fines to settling banks as soon as next month.
Swiss banks are turning over thousands of employee names to U.S. authorities as they seek leniency for their alleged role in helping American clients evade taxes, according to lawyers representing banking staff.
Coca-Cola Co. , Cisco Systems Inc., Volkswagen AG and other global companies are curtailing operations in Egypt as protesters take to the streets for the seventh day to demonstrate against President Hosni Mubarak .
After being rigged by some of the world’s biggest financial institutions, the London interbank offered rate, the benchmark for more than $300 trillion of securities and loans, is now increasingly being set by a smaller group of banks.