Global banks hung on $1.5 billion of loans
Monday, October 28, 2019, 2:29 PM
Risky corporate-loans are gradually piling up on the books of some of the world's largest-banks. Underwriters that agree to provide funds for buyouts are rarely forced to come-up with the cash themselves, instead offloading the exposure to investors before deals close. The amount of hung debt is small-relative to the almost $170-billion of leveraged-loans issued in the US and Europe this year to finance-buyouts.
HSBC planning to cut 10,000 more posts: Financial Times
Monday, October 7, 2019, 4:17 PM
HSBC is planning to lay-off up to 10,000 staff, a report said just weeks after its chief-executive stepped down and announced the axing 4,000 posts citing a weak global-outlook. The latest cuts mostly in high-paid roles are part of a fresh cost-cutting drive by new-boss Noel Quinn as the banking titan struggles to adjust to falling interest rates, Brexit and the long-running trade war.
U.S. congressional probe finds possible lapses in Deutsche Bank controls
Friday, September 6, 2019, 8:00 PM
U.S. congressional investigators have identified possible failures in Deutsche Bank AG's (DBKGn.D) money laundering controls in its dealings with Russian oligarchs, after the lender handed over a trove of transaction records, emails and other documents, three people familiar with the matter said. The White House and a Trump Organization spokeswoman, Amanda Miller, did not respond to requests for comment.