hsbc

Seven leading global banks, including Barclays, RBS and HSBC, have been issued with subpoenas by the state of New York over the alleged rigging of LIBOR.

Standard Chartered has agreed to pay a $340m (£217m) fine to US regulators after it was accused of trying to hide up to $250bn of transactions with Iran.

HSBC Global Asset Management has combined the funds within its multi-asset International Selection range with the bank's retail consumer World Selection offering.

Fund selectors have revealed the difficulties in allocating to Asia and emerging markets as some of the most popular retail funds close their doors to new investors.

HSBC has put aside $1.3bn (£830m) in UK customer redress provisions and $700m (£450m) relating to US regulatory and legal issues as it reports $12.7bn in interim pre-tax profit.

Stephen Hester, chief executive of the Royal Bank of Scotland, has admitted his bank will face a significant fine over the rate-rigging scandal which has thrown Barclays into the spotlight in recent weeks.

HSBC's Mexican business has been fined $27.5m for failing to comply with anti-money laundering regulations.

The European Commission has cracked down on the fixing of interest rates in the latest twist to the LIBOR scandal, which has dominated headlines in recent weeks.

Regulators have turned their attention to at least four of Europe's largest banks in a continued investigation of manipulation of the LIBOR benchmark interest rate.

HSBC has apologised to the US Senate after the bank was found to have allowed drug money to be laundered through its accounts.