investment banks

Stephen Snowden has upped risk on the Kames Investment Grade Bond fund by "aggressively" increasing exposure to banks and topping up high yield on the view the bottom of the market has already been reached.

Dexia, the bank bailed out by the French, Belgian and Luxembourg governments, loaned €1.5bn to two of its investors who then used the cash to buy shares in the company, it has been claimed.

Wall Street's biggest banks had their worst quarter of results since 2008's financial crisis, with trading revenue down 35% on last year.

At least 50 of Europe's top 91 banks are expected to fail the European Banking Authority's (EBA) new stress tests, analysts at Goldman Sachs have warned.

The S&P 500 has opened down 0.85%, with financials under pressure after J.P. Morgan reported its third quarter results.

Barings' head of Asian equities Colin Ng is rotating his portfolio away from industrials and petro-chemical stocks that took a hit in the summer sell-off, and has been adding to banks.

City of London police have charged UBS trader Kweku Adoboli with fraud in relation to the $2bn loss at the bank.

Ratings agencies S&P and Moody's have placed UBS' Aa3 rating on review for downgrade following its $2bn unauthorised trading loss.

UBS has said it has discovered a loss in the region of $2bn as a result of rogue trading in its investment banking division.

Proposals to ring-fence UK-based banks could dent profits by up to 15% within three years, according to Morgan Stanley research, the Telegraph has reported.