Advertisement
UK markets open in 6 hours 52 minutes

  • NIKKEI 225

    38,460.08
    0.00 (0.00%)
     

  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     

  • CRUDE OIL

    82.69
    -0.12 (-0.14%)
     

  • GOLD FUTURES

    2,328.10
    -10.30 (-0.44%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • Bitcoin GBP

    51,605.86
    -1,858.21 (-3.48%)
     

  • CMC Crypto 200

    1,388.83
    -35.27 (-2.48%)
     

  • NASDAQ Composite

    15,712.75
    +16.11 (+0.10%)
     

  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     
Money:

The five essential pieces of financial paperwork you must never lose

Mislaying key documents can cause real headaches, so it’s worth tracking down these most commonly-lost bits of paperwork

U.S. govt wants five banks to settle forex case by mid-May -FT

Reuters - UK Focus

(Adds Barclays response)

April 20 (Reuters) - The U.S. Department of Justice wants five banks, including JPMorgan Chase & Co (Xetra: 850628 - news) and Barclays (Swiss: BARC.SW - news) Plc, to reach a joint "mega settlement" to allegations they manipulated foreign exchange markets, the Financial Times reported, citing unidentified people familiar with the case.

The settlement would see some institutions pay about $1 billion each and is scheduled for mid-May, it said. The settlement talks also include Citigroup Inc (NYSE: C - news) , Royal Bank of Scotland Group Plc and UBS Group AG (Other OTC: OUBSF - news) . (http://on.ft.com/1DFRUjx)

However, it is not certain whether the Department of Justice will be able to resolve all of the probes at once, the report said, citing sources close to the matter.

ADVERTISEMENT

The probe is being led by the fraud division of the Department of Justice.

In November, regulators fined six major banks $4.3 billion in the first settlements over traders manipulating the foreign exchange market.

However, the settlement did not involve the Department of Justice.

Citigroup and Barclays (LSE: BARC.L - news) declined to comment. The other banks and the Department of Justice were not immediately available for comment. (Reporting by Narottam Medhora and Manya Venkatesh in Bengaluru; Editing by Cynthia Osterman)