Financial Industry | featured news

Online banking services for HSBC customers in the UK have been hit by a problem and some ATMs are not working, the bank confirms.

Dutch financial services group ING is to cut 2,700 staff and contract jobs, it said on Thursday in announcing third-quarter results, slashing the headcount at its Dutch retail banking operations by 10 percent in the face of deteriorating markets.

Bank of America Corp employees are flooding rival companies with resumes as a major cost-cutting program gets under way at the second-largest U.S. bank.

The Federal Bureau of Investigation plans to examine MF Global Holdings Ltd amid concerns about missing client funds at the futures brokerage, the Wall Street Journal said Tuesday, citing a person familiar with the matter.

The Wall Street firm run by former Goldman Sachs Chairman and New Jersey Gov. Jon Corzine filed for bankruptcy Monday morning, making it the first big American casualty of the European debt crisis.

The U.S. government's investigation into the Lehman Brothers collapse has hit daunting hurdles that could result in no civil or criminal charges ever being filed against the company's former executives.

The banking industry, racked by the financial crisis and facing slower revenue growth, is starting to cut costs—increasingly at the expense of jobs.

Wells Fargo & Co. says its fourth-quarter profit shot up, as it was able to lower the amount of reserves set aside to cover souring loans.

Goldman Sachs Group Inc posted a 53 percent decline in quarterly profit on Wednesday, in part reflecting lower results in fixed-income trading.

New rules would oblige financial services firms to record relevant employee communications made on their work cell phones.