News Banking and Finance RSS Feed SocGen writes off Kerviel as a footnote in history The rogue trader who cost Société Générale almost ?5 billion was dismissed as an historical footnote today by executives seeking to draw a line under France?s biggest financial scandal. Cowdery goes it alone to cut banks? fees Clive Cowdery?s Resolution is close to securing a ground-breaking deal to slash investment bank underwriting fees on a rights issue to fund a £2.75 billion acquisition of Axa?s UK life business. The key to saving money is to do it yourself Investment banks? fees have long been a sore point with big institutional investors. Months before the Office of Fair Trading started to investigate a suspected lack of competition in the underwriting market, institutions were trying to find their own way around fees of 3 per cent or more. Row over bank card and credit card charges Banks are making hundreds of millions of pounds a year and pushing up prices on the high street by levying ?unjustifiably high? fees on credit and debit card sales, retailers will say today. FSA calls Sir Fred Goodwin to account over RBS unravelling Sir Fred Goodwin has been summoned by the Financial Services Authority to answer questions about Royal Bank of Scotland?s management in the run up to its near-collapse in October 2008. What Spain didn?t need ? a liquidity crisis Spanish banks are being shut out of the inter-bank lending market, the Spanish Treasury Secretary Carlos Ocana claimed yesterday, as it emerged that a liquidity freeze is adding to the troubles of Iberian lenders piled high with toxic property debt. ?A disloyal, dishonest, criminal cheat? ? bank boss denounces rogue trader Jérôme Kerviel, the rogue trader accused of losing almost ?5 billion, was denounced by a former boss as criminal, dishonest, disloyal and a cheat at his trial in Paris yesterday. Vantis shares suspended amid survival fears The crisis surrounding Vantis, the AIM-listed accountancy firm, deepened today as the group asked for trading in its shares to be suspended amid doubts over its ability to survive.

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