The Bank of England believed that bonus clawbacks are an effective way to discourage bankers or senior staff of financial institutions from making high-risk decisions or doing financial misconduct, Bloomberg said in a report.
Three unidentified sources told Bloomberg that European Commission member Joaquín Almunia is focused on getting settlements from JPMorgan Chase & Co, HSBC Holdings Plc, Credit Agricole SA and interdealer broker ICAP Plc over their involvement in the benchmark rate-rigging scandals before leaves his post later this year.
During the proceedings of Suffolk Technologies LLC's claim against Google Inc for patent infringement, it has been found that the former has ties with Goldman Sachs Group Inc. and BT Group Plc's British Telecom, Bloomberg said. A unit of Goldman's joint venture pursues lawsuits over BT's patents in the hopes of getting licensing and additional fees for damages, court filings showed.
Despite Herbalife Ltd's surprise about the probe opened by the Federal Trade Commission over the former's business model, the nutrition company believes that this will be an effective way to reject allegations that the company is operating a pyramid scheme.
