Credit Suisse to cut 65 jobs in fixed income, say sources

LONDON: Credit Suisse will cut 65 jobs across its fixed income business next week as part of its recently announced plans to reduce its presence in rates, according to two sources with knowledge of the plans.

RBS still negotiating with FSA over Libor fine

Royal Bank of Scotland is continuing to negotiate with the Financial Services Authority over the scale of its penalty for attempting to rig Libor, amid speculation that Swiss bank UBS is close to agreeing a £1bn fine with global regulators.

UBS to cut 3,500 jobs worldwide

Swiss banking group UBS has announced it is to cut 3,500 jobs globally as part of its cost savings programme.

Some 45% of the job losses will fall on its investment bank.

The move was widely anticipated after the banking group announced plans last month to find 2bn Swiss francs ($2.5bn, £1.5bn) of annual savings.

JP Morgan agrees further fraud settlement

JP Morgan Chase is to pay $228m (£143m) to settle claims it rigged auctions, its second fraud payout in a month.

The deal was reached with regulators, tax authorities and 25 US states, who accused it of fixing bids for state and municipal contracts on 93 occasions.