The US Treasury Department has today announced it is selling its 27% stake in Citigroup this year, in what will be one of the largest stock sales ever.
According to the department, around 7.7 billion shares in the bailed-out bank will be sold in stages.
The stock is currently worth around $33 billion (£22 billion) at [...]
In an interview with Sky News, HSBC chief executive Michael Geoghegan has warned of the dangers of the new super tax, introduced by the Government to claw back some of the bailout funds used to rescue the banking industry.
The warning comes just a week after London Mayor, Boris Johnson, warned that high-earning bankers are leaving [...]
London Mayor, Boris Johnson, has warned that high-earning bankers are leaving the capital because of the super tax which has been introduced by the Government.
In the recent Pre-Budget Report (PBR), UK Chancellor Alistair Darling confirmed there would be a one-off 50% tax on bankers’ bonuses paid above £25,000.
The Chancellor said the banks, rather than the [...]