SFO investigates price rigging in foreign exchange market

The Serious Fraud Office (SFO) has launched a criminal investigation into allegations of price rigging in the £3tn-a-day foreign exchange market.

Arab banks see Middle East opportunities as some global banks scale back

(Reuters) - Big Arab banks with money to spend are expanding across the Middle East in markets such as Egypt and Iraq, as they take advantage of a retreat from some areas by major international rivals, senior Arab bankers say.

HSBC hands allowances to hundreds of bankers to avoid EU bonus cap

Britain's biggest bank, HSBC, has inflamed the row over City pay by awarding allowances to hundreds of its top staff, enabling them to avoid the EU bonus cap.

British banks face new bill for past investment advice

LONDON: HSBC has set aside $149 million to review how it advised about 200,000 UK customers on investing a lump sum of money, the first British bank to do so and signalling another potential costly mishap for lenders.

Banks shrink as job cuts near 160,000

Major banks have announced about 160,000 job cuts since early last year and with more layoffs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two to one.

EFSF Plans EUR3 Billion 10-Year Bond

The European Financial Stability Facility, or EFSF, has planned to issue three billion euros ($3.7 billion) of 10-year bonds, one of the banks running the deal said Tuesday.

HSBC targets back office workers in 2,000 UK job cuts

Investment advisers and back office workers will be the main targets of 2,000 job cuts HSBC is to make in its British business as part of the bank’s efforts to reduce costs.