SMFG defends culture of cross-shareholdings

Companies buying each other’s shares ‘good for investors’, it says

Russia pledges to help groups with foreign debts

Central bank to assist refinancings in bid to ease crisis

China’s lenders can aid regional growth

Outbound flows of direct investment have overtaken inflows

BBVA to sell Citic unit stake at a loss

€845m deal part of move to shore up balance sheet

Private equity hopes Petsmart marks turn

Buyout firms aim to come off dealmaking sidelines

UBS loses StanChart broking mandate

Emerging markets bank hires BofA for joint role with JPMorgan

Basel to cut banks’ reliance on ratings

Measure reduces influence of agencies in risk assessment

Optimism on US banks: is it overdone?

Investors have enjoyed another year of rising share prices in the sector

Ocwen chairman to resign in settlement

Mortgage servicer will pay $150m over foreclosures

Watchdog hits PwC with two probes

Investigation relates to audit clients Tesco and Barclays

Haitong to raise $3.9bn in Hong Kong

Move expected to presage share sales from more Chinese brokerages

Senior City staff expect 21% bigger bonus

Financial sector confident on payouts despite public concerns

Big banks need to embrace digital era

Smaller operators are posing a threat to the status quo

Barclays limits potential Asia clients

UK lender engaged in ‘merciless’ root and branch review of activities in region

China eases rules for foreign banks

Move largely symbolic as Beijing makes good on reform pledges

Russian central bank shows how not to intervene

Authorities did too little, too late, too quietly

Volcker lambasts Wall Street lobbying

Withering attack as industry secures extension to comply on hedge funds

Ex-RBS trader arrested in forex probe

Move by SFO marks acceleration of global investigation

Week in Review, December 20

Vice Media, Repsol, Co-op Bank, and BT-EE talks featured

Madoff risks return for Santander

Swiss prosecutor weighs indictment of former Botín lieutenant

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