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Since the financial crisis Citigroup has managed to firm up its balance sheet and fence off most of the toxic assets that brought the bank to its knees. Some shareholders want the firm to go further though, and the latest call for a breakup comes from an unlikely source.

Over the course of five days, the Greek government -- led by the understated conservative Prime Minister Antonis Samaras -- overcame two high hurdles in a dash to qualify for the austerity program set out by the so-called troika, made up of the European Central Bank, the International Monetary Fund and the European Commission.

Jefferies will continue to operate as a full-service global investment banking firm in its current form, the companies said.

Former chief executive of Citigroup Vikram Pandit receives $15m after resigning from the banking giant last month.

The euro zone economy shows little sign of recovering before the year-end despite an easing of financial market conditions, European Central Bank Mario Draghi said on Thursday after interest rates were left at a record low.

...The boom in resource markets that started 10 years ago attracted many big banks to trade oil, metals and agriculture, but the 2008 financial crisis forced a painful retreat and tighter regulation now means some banks may throw in the towel.

For decades, Switzerland was the place where money went to hide. Cash sent to its mountain aeries was protected by some of the strictest secrecy laws in the world.

UBS unveiled plans on Tuesday to wind down its fixed income business and fire 10,000 bankers, as it adapts to tougher capital rules that make it more difficult for investment banks to turn a profit since the financial crisis.

Massachusetts fined Citigroup $2 million to settle charges that two bank analysts improperly released confidential information about Facebook's financials before the technology company went public.

The $1-billion civil suit alleges that BofA's Countrywide fraudulently deceived mortgage finance giants Fannie Mae and Freddie Mac into believing the company's risky loans were safe and sound.