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.
British businessman Victor Dahdaleh paid about 40 million pounds ($64 million) in bribes to the former chairman and chief executive officer of Bahrain’s state- owned aluminum producer, a prosecutor said.
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.
Former Credit Suisse Group AG broker Eric Butler had his securities-fraud conviction overturned by a federal appeals court, which ruled that Brooklyn, New York, was the wrong venue for the trial on the charge.
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 .