Financial Service News

Ireland's second-largest bank, Allied Irish Banks, has returned to profit for the first time since a 2008 property crash pushed the nation to the brink of bankruptcy.

The Bank of England's plans to claw back rule-breaking bankers' bonuses up to seven years after they are awarded are a good idea in principle, the boss of Barclays has said.

Now, one of Europe's last banking dynasties is being stripped of its wealth and influence amid accounting irregularities, huge unreported debts, and a police investigation.

Senior bank executives are focused on improving customer experience as the industry faces intensified pressure from non-traditional competitors, according to a new survey by KPMG LLP.

American Express Co reported a 9 percent rise in quarterly profit that matched analysts' estimates as more customers used its credit cards in a recovering U.S. economy.

American Express Co. on Tuesday reported earnings that rose by 9 percent in its second quarter, and topped analysts' expectations.

In this July 19, 2011 file photo, passers-by walk past an American Express logo near the entrance to a bank in the Harvard Square neighborhood of Cambridge, Mass.

Institutional investors, like endowments and sovereign wealth funds, are trading some of their stock futures contracts for exchange-traded funds, an action they say saves them money and effort while providing comparable returns.

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A man who was imprisoned 21 years for a rape and murder he didn't commit is set to testify at a first-ever Connecticut hearing to determine how much he should be compensated.

Deutsche Bank AG posted a 29 percent drop in second-quarter net profit Tuesday, hit by what it described as higher taxes, declining revenue and political instability affecting the markets.

Swiss banking giant UBS AG reported a 15 percent jump Tuesday in second-quarter net profit compared to a year ago, driven by strong results from its core wealth management and trimmed-down investment banking franchises despite a tough market environment.

Greece wants the European Central Bank's health checks on its four biggest banks later this year to take account of their new restructuring plans rather than being based on last year's balance sheet data alone, a Greek finance ministry official said on Monday.

Why tote around a first-generation iPhone when you have a 5s at home? Or drive a beat-up old Chevy when there's a new Corvette in the garage? In the world of exchange-traded funds, that's just what investors are doing.

Lloyds, one of the world's largest banks, on Monday became the sixth financial firm sanctioned in the international rate-rigging scandal.

Lloyds Banking Group says it will pay 218 million pounds to U.S. and British authorities to settle allegations it manipulated benchmark interest rates.

The Bank of Montreal report, titled "Living to 100: The Four Keys to Longevity," found that 74 per cent of those recently polled foresee medical costs as their biggest expense in their senior years.

The chief executive and founder of education group Navitas says it's highly unlikely there will be any nasty surprises among the 25 other university partners for which the company runs pathways colleges as a bridge to university education, after its dumping by Macquarie University.

National Australia Bank has sold a slice of its British commercial real estate loans portfolio for STG625 million .

The kiwi traded at 85.63 US cents at 8am from 85.51 cents on Friday in New York and 85.73 cents at 5pm in Wellington.