By Chijama Ogbu For man, credibility is an indispensable asset, which is also hard won. It defines a person’s worth in the eyes of the public. It is difficult to build but even harder to rebuild when it is lost. Often in the quest for fame or wealth or […]
Frauds & Scandals
In wake of JPMorgan settlement, big banks add to defense funds
Several large U.S. banks have set aside extra money to pay for potential legal costs in part because of JPMorgan Chase & Co’s massive $13 billion settlement with U.S. authorities over bad mortgages, according to two sources familiar with the situation. The size of the JPMorgan settlement, which the government […]
HSBC, Citi suspend traders as FX probe deepens
HSBC and Citigroup both suspended foreign exchange traders on Friday as a global probe into possible currency market manipulation intensified. Regulators from the United States arrived in London this week, stepping up an investigation in which they are working with Britain’s financial watchdog to determine whether traders at some of […]