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As London’s reputation as a trustworthy financial centre takes a beating, the City is increasingly looking abroad for a saviour. Preferably, one with global experience and no ties to bailouts or rate-setting shenanigans.
Don’t break up the banks!
Never mind the risks to taxpayers, says former J.P. Morgan chief William Harrison Jr. It’s all about the returns.
TD Bank looks to bolster its U.S. bet
Toronto-Dominion Bank likes what it sees in the U.S., enough to look for more assets similar to its purchase of Chrysler Financial Corp.
Nomura CEO quits as insider trading scandal widens
Nomura Holdings Inc. named Koji Nagai as its new chief executive officer on Thursday and said it was likely more insider trading cases would come to light in a scandal that forced Kenichi Watanabe to quit as head of Japan’s top investment bank.
Lloyds gets Libor subpoenas
Lloyds Banking Group has received subpoenas from government agencies investigating a global interest rate rigging scandal that has rocked the banking industry and has not set any money aside to cover a potential fine, it said on Thursday.
Canada the focus of a new Great Scramble for oil
The last Great Scramble provided us with decades of “fantastic wealth” that has made us the envy of the world. Yet we don’t want to be audacious about owning the world, or recklessly handing ownership over to others.
U.S. money has had it with Europe
U.S. money market funds are exiting the euro zone in what can only be described as a stampede.