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Goldman Sachs Will Not Face Criminal Charges: Justice Department

The U.S. Justice Department said it will not pursue criminal charges against Goldman Sachs Group Inc or its employees related to accusations that the firm bet against the same subprime mortgage securities it was selling to clients.

 

Libor rate overhaul launched by UK regulator

Libor

Libor benchmark interest rates are no longer "fit for purpose" and must be changed or replaced, Britain's regulator said on Friday as he set out proposals to restore their credibility.

 

Knight losses estimated at $270 million after taxes: CEO letter

Trading losses at Knight Capital Group Inc were about $270 million after taxes from the August 1 software glitch that sent the firm scrambling for a financial lifeline, Chief Executive Tom Joyce told clients in a letter.

 

JPMorgan revises 1Q profit down amid trading probe

JPMorgan Chase on Thursday formally revised its first-quarter financial results to show a lower profit, after deciding that traders at its main investment arm had overstated the value of certain derivatives.

 

NY may pull StanChart license, says "rogue" bank hid $250 billion in Iran deals

Standard Chartered

New York's top bank regulator threatened to strip Standard Chartered Plc of its state banking license, saying the British bank was a "rogue institution" that hid $250 billion in transactions tied to Iran, in violation of U.S. law.

 

Banks in Libor Inquiry Are Said to Be Trying to Spread Blame

Libor

The investigation into the manipulation of the Libor benchmark interest rate has led banks to seek to implicate their rivals, according to government and bank officials.

 

Knight nears $400 million capital injection: sources

Knight Capital

Knight Capital Group Inc looked set on Sunday to receive a $400 million capital injection from a group of investors, as it sought a rescue deal to avoid bankruptcy after a crippling $440 million loss, two sources familiar with the situation said.

 

Knight Capital heads into make-or-break weekend

Knight Capital

Knight Capital Group Inc's future remained in flux as it headed into the weekend trying to clinch a rescue deal, but there was skepticism on Wall Street that one of the largest U.S. equities trading firms would find a suitor before Monday.

 

Knight seeks financing after $440 million trading loss

Knight Capital

Trading firm Knight Capital is being forced to raise money after an erroneous trading position wiped out $440 million of the firm's capital, Knight said in a statement on Thursday.

 

Barclays dragged into new probe after Libor blow

Barclays Plc revealed a new regulatory probe and more U.S. lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks.

 

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