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UK’s biggest banks face further 19 billion pounds misconduct bill

LONDON (Reuters) – Britain’s biggest banks face another 19 billion pounds of charges relating to past misconduct over the next two years, ratings agency Standard Poor’s (SP) said in a report on Monday. SP said Britain’s banks and customer-owned lenders … Continue reading

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TopShop Store Card Group Banks On £1bn Sale

The finance group which provides credit cards to TopShop customers has hired bankers to prepare a sale or flotation that could value it at more than £1bn. Sky News understands that the owners of NewDay, which is among the UK’s biggest … Continue reading

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Investors question Deutsche Bank’s overhaul

By Thomas Atkins and Jonathan Gould FRANKFURT (Reuters) – Deutsche Bank’s (DBKGn.DE) biggest strategic overhaul under co-chief executives Anshu Jain and Juergen Fitschen got a thumbs down from investors on Monday who judged it too little too late. Germany’s flagship … Continue reading

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VW investors hope Piech exit may usher in change

BERLIN (Reuters) – Investors hope that Volkswagen will be able to revive profitability at its core division, cure underperformance overseas and bury lingering plans for acquisitions after the resignation of Chairman Ferdinand Piech. Piech, the mastermind of VW’s global expansion … Continue reading

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Corrected

By Jennifer Ablan and Heather Struck NEW YORK (Reuters) – (Story corrects paragraph 16 to show that TheRealReal was founded in 2011, not 2012, and has 3.5 million members, not monthly users.) The Nasdaq’s March 2000 peak brought with it … Continue reading

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MIDEAST STOCKS-Strong oil supports Saudi Arabia; Egypt slips

(Updates with Saudi Arabia, Egypt open) DUBAI, April 26 (Reuters) – Saudi Arabia’s stock market rose in early trade on Sunday, supported by stronger oil prices, while Egypt’s bourse edged down. Brent crude hit a 4-1/2-month high of $65.80 on … Continue reading

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Deutsche Bank Q1 earnings fall to $610M, hurt by penalties

FRANKFURT, Germany (AP) — Deutsche Bank says net profit fell to 559 million euros ($610 million) in the first quarter as legal penalties ate into stronger revenues from trading stocks and bonds. Profits were down from 1.103 billion euros in … Continue reading

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Analysis

By John McCrank NEW YORK (Reuters) – The U.S. Securities and Exchange Commission is convening a group of financial industry veterans for the first time next month to consider stock market reforms, but one group will be conspicuously absent: retail … Continue reading

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Worldpay Owners Pick Goldman For £6bn Float

The owners of Worldpay, the UK-based payment processing group, are close to appointing bankers to prepare a stock market flotation that could value it at a staggering £6bn. Sky News has learnt that Advent International and Bain Capital, the two … Continue reading

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Stocks rise on tech earnings; Nasdaq adds to record

NEW YORK (AP) — Stocks advanced slightly Friday as investors cheered the quarterly results of three large technology companies: Google, Microsoft and Amazon. The modest gains helped close out a relatively strong week for U.S. stocks, with the three major … Continue reading

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