UBS Fine Brings European Bank Levies to $6.1 Bln
UBS AG’s $1.5 billion penalty for trying to rig interbank rates brings total fines for Europe’s largest banks to at least $6.1 billion, or about a quarter of their estimated profit this year.
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Financial Firms Must Address Climate Change Now: Nesbitt
31:02 - The president and CEO of the Global Risk Institute is warning the financial industry that nobody is doing enough - not banks, insurers or pension funds - to preemptively protect themselves from the physical impact of climate change and the public policy that comes with it. In an interview with Bloomberg TV Canada's Amanda Lang, former CIBC CEO Richard Nesbitt says firms not only have a duty to come up with a plan, but also could find investment and financing opportunities in climate change. (Source: Bloomberg)