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BANKING NEWS

Credit Suisse flags 6,500 job cuts in 2017 after US$2.4 billion loss

Credit Suisse flags 6,500 job cuts in 2017 after US$2.4 billion loss
ZURICH: Credit Suisse will cut up to 6,500 more jobs in 2017, as Chief Executive Tidjane Thiam pushes ahead with a major restructuring which he said on Tuesday might now no longer include floating the bank's Swiss business. The plan to spin off a minority...

ABN Amro Slashes 60% of Senior Management After Staff Cuts

ABN Amro Slashes 60% of Senior Management After Staff Cuts
By Ross Larsen and Jeffrey VoegeliABN Amro NV plans cut 60 of its 100 senior management jobs and reduce the number of top executives by more than half in a revamp that reflects the bank’s shrinking size. A new management board will include the heads...

America’s Asia Allies May Face Biggest Currency Reversal

America’s Asia Allies May Face Biggest Currency Reversal
By Lilian Karunungan and Yumi TesoSouth Korea’s won, Taiwan’s dollar have enjoyed gains in 2017 One buyer says ‘I am careful’ given risk of Trump targeting Asia’s top two performing currencies so far this year are unlikely to enjoy prolonged gains,...

China turns to blockchain to make markets clearer and cleaner

China turns to blockchain to make markets clearer and cleaner
By Engen Tham | SHANGHAI Chinese banks are hiring blockchain experts as the government pushes use of the technology behind bitcoin to increase transparency and combat fraud in its financial sector. Lenders have struggled for years with outdated and ...

RBS braced for multi-billion-pound settlement for loan-misselling scandal

RBS braced for multi-billion-pound settlement for loan-misselling scandal
By Jill Treanor Royal Bank of Scotland is preparing to take a multi-billion-pound hit related to a toxic bond misselling scandal that dates back to the 2008 crisis. The bank, 73% owned by the British taxpayer, is reported to be mulling whether ...

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