Finance

HSBC Holdings PLC on Tuesday signalled it would embark on a pandemic-induced overhaul of its business model, seeking to flip its main source of income from interest rate to fee-based businesses.

Goldman Sachs Group Inc attempted to cover up allegations of workplace sexual misconduct by the bank's global head of litigation, a lawsuit filed on Monday in New York State Supreme Court claimed.

Wells Fargo & Co is exploring a sale of its asset management business, in what would be the U.S. bank's biggest shake-up since former Bank of New York Mellon chief executive Charles Scharf joined as CEO last year, people familiar with the matter said on Thursday.

Goldman Sachs Group Inc on Thursday said it was clawing back $174 million in executive compensation and had agreed to pay $2.9 billion over its role in Malaysia’s 1MDB corruption scandal, lifting a cloud that has hung over the bank for years.

Goldman Sachs Group Inc on Thursday reached a deal to settle a probe into the bank's role in Malaysia's 1MDB corruption scandal, which included total penalties of $2.9 billion.

Hong Kong's markets watchdog on Thursday fined Goldman Sachs's Asian business $350 million for its role in Malaysia's multibillion-dollar 1MDB scandal, the largest single fine ever levied by the regulator in the Asian financial hub.

Goldman Sachs Group Inc this week will agree to pay more than $2 billion to settle U.S. charges over its role in Malaysia's 1MDB corruption scandal, lifting a dark cloud that has hung over the bank for years.

HSBC has launched a restructuring of its commercial banking business in Britain, a source familiar with the matter told Reuters on Wednesday, resulting in around 300 job losses.

Australia's Queensland state and HSBC said on Thursday they will make a "world-first investment" to protect the world-heritage listed Great Barrier Reef which is suffering from extensive coral bleaching events.