Europe’s top five investment banks are now making less than half as much revenue as the top five US operators, which beat their European rivals on almost every financial measure last year. Patrick Jenkins, FT financial editor, asks Laura Noonan, FT investment banking correspondent, what’s behind the numbers.
Music by Kevin MacLeod
Patrick Jenkins and guests discuss ethics in banking as the UK Banking Standards Board launches its first review, the dire state of Europe’s investment banks versus their US peers, and how the oil slump is threatening US bank profits and the wider economy.
An FT investigation by David Crow and Robin Kwong has found that, despite post-crisis anger at expensive benefits for corporate bosses and their subsequent reining in, S&P 500 company aircraft are still being used for personal trips. Additional reporting by Jennifer Bissell
Three years after the UK government began slashing welfare benefits, Financial Times reporters looked at the impact of the cuts on some of the poorest parts of the country. Barney Thompson discusses the results of their research with Sarah Neville and John Murray Brown.
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