K1 GROUP founder Helmut Kiener has been convicted of defrauding investors with a €345 million Ponzi scheme and sentenced to 10 years and eight months in prison.

BANKS and financial services companies in London will add 11,000 employees in the next three years and will require the equivalent of four Shard skyscrapers to accommodate them, BNP Paribas SA’s real estate unit said.

FINANCE Minister Brian Lenihan is about to inflict more pain on bank investors. Unless they take it, analysts say worse may follow.

Irish Life & Permanent has confirmed today that it has raised a further €1.25bn in funding through the issue of a new public fixed-rate bond.

Asian stock markets plunged today as government bank bailouts in the US and Europe failed to alleviate fears of a global financial crisis that would depress world economic growth.

French stocks declined for the first time in six days yesterday. Michelin & Cie, and BNP Paribas SA paced the retreat.

French stocks fell after crude oil rose to a record, spurring concern that rising fuel costs will damp earnings growth.

FRENCH financial shares climbed, led by BNP Paribas SA and Credit Agricole SA.

EUROPEAN stocks climbed after BNP Paribas SA agreed to buy Community First Bankshares Inc for $1.2 billion in cash.

THE dollar dropped to a record low against the euro in New York after industry reports showed indexes of Chicago manufacturing and US consumer confidence fell this month.