A round-up of the key stories across the specialist financial media, including news that private bank Coutts & Co has been fined £8.75 million for failing to take required precautions against money laundering
Coutts fined for laundering violations
Coutts & Co, the private bank used by the Queen, has been fined £8.75 million for failing to take required precautions against money laundering, in the first case to emerge from a Financial Services Authority investigation into the way banks handle accounts of overseas politicians and other high-risk customers.
Spain's and Italy's stock markets fell on Monday as fears they will struggle to enact reforms needed for growth returned, but a report that Germany might agree to combine the eurozone's two bailout funds temporarily lifted the two countries' bonds.
Improvement in the nation’s labour market since last autumn might only be a reversal of large layoffs that hit during the recession, and further improvement might depend on faster economic growth, Federal Reserve chairman Ben Bernanke said on Monday.
Tokyo-Osaka seen as best bet after deals fail: real M&A
As stock exchange mergers crumbled from Frankfurt and New York to Singapore and Sydney, traders have become only more convinced that Japan’s plan to combine its biggest bourses is the best bet to succeed.
Emerging stocks fall to eight-week low on profit concern
Emerging-market stocks fell amid concern earnings growth at companies in developing nations is slowing and that India’s government will struggle to rein in the country’s fiscal deficit.
