The elimination of poverty and improving incomes of the world's poorest were two of the goals of World Bank, its draft strategy paper showed.
Investment banks
Bank of America goes to trial over fraud charges
Bank of America would go on trial this week over fraud charges related to home mortgages which was alleged to defraud Fannie Mae and Freddie Mac.
Andrew Bates is head of Nedbank Group's Middle East private banking unit
The Nedbank Group appointed Andrew Bates as head of its Middle East private banking unit. Andrew Bates was appointed as head of Nedbank Group's Middle East private banking unit.
JPMorgan Chase & Co, Gates Foundation form Global Health Investment Fund
JPMorgan Chase & Co and the Bill & Melinda Gates Foundation formed the Global Health Investment Fund to combat deadly diseases in developing countries.
JPMorgan to pay USD389 million in penalties
JP Morgan Chase & Co. was mandated to pay USD389 million in penalties and restitution after the bank was alleged in unfairly charging its customers for credit monitoring programs.
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Hedge funds that gambled on Lehman Brothers expected huge payouts as administrators finished recovering assets.
A Reuters analysis revealed that Beijing was looking to private capital to strengthen the balance sheets of Chinese banks.
European Commissioner Algirdas Semeta said work would continue on the proposed financial transaction tax.
The Royal Bank of Scotland raised GBP 630 million by selling all the shares it holds in insurer Direct Line.
Emmanuel Fievet, Barclays Plc's head for UK and Europe had left the bank following Stefanie Drews' departure from the banks' group of wealthy clients and family offices in London.
JP Morgan Chase & Co. reached a milestone in cleaning up its legal affairs however it had also left the company a hefty USD1 billion settlement payments.
JP Morgan Chase & Co. had been poised to pay approximately USD900 million to settle claims from both US and UK regulators.
East West Bancorp and MetroCorp Bancshares Inc. announced today the signing of a definitive agreement for the merger of MetroCorp into East West.
Spain's Bankia had been in exclusive discussions with brokerage GVC to sell its own brokerage unit valued between EUR20 million and EUR40 million, said sources.
