hsbc

UK banking giant HSBC is planning to apologise to the US Senate following an investigation earlier this year into money laundering.

With banks hitting the headlines for all the wrong reasons, Joanna Faith asks financials managers whether the recent volatility has provided a good buying opportunity or whether there is better value elsewhere.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.

Barclays, HSBC, Lloyds and RBS have agreed settlements with the FSA after the regulator found "serious failings" in their sales of interest rate hedging products.

RBS and Lloyds, the two UK tax-payer backed banks, are among a dozen financial groups being investigated for manipulating the LIBOR rate, which resulted in a record £290m regulator fine for Barclays, it was revealed yesterday.

CIO Plamen Monovski tells Katie Holliday about his firm's ‘Indiana Jones' approach to investing and his ambitious plans to grow the business.

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Credit rating agency Moody's has downgraded 15 financial institutions overnight, including major UK and US banks.

Rating agency Moody's is preparing to downgrade several UK banks this evening, including RBS, Barclays and HSBC, according to reports.

A top official at the Financial Services Authority (FSA) has warned Britain's four largest banks face more questions over their sale of interest rate hedges to small business customers.