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  • MOSCOW— The Russian Central Bank cut its key interest rate by 0.5 percentage points to 11 percent on Friday, bowing to the pressure of businesses to make lending more accessible. Moscow- based investment bank Sberbank CIB said in a note to investors that the 0.5 percentage cut is not as big as anticipated, indicating that the central bank wants to "play it safe" and...

  • *BBVA posts solid Q2 results, helped by Spain rebound. MADRID, July 31- A combination of acquisitions in its home market and a strong performance in Mexico helped Spanish bank BBVA increase revenues and profits in the first half of the year, showing the benefits of a growth strategy many local rivals are now looking to emulate. Even BBVA, which like local rival...

  • BEIJING, July 31- Chinese commercial banks still have room to lower banking fees, the country's top economic planner said on Friday.

  • LONDON— Lloyds Banking Group says first-half net income rose 18 percent to 677 million pounds as the government-backed bank accelerated its recovery from the financial crisis. The bank, bailed out by taxpayers in 2008, disclosed Friday that the government's stake had been reduced to just 15 percent from as much as 43 percent. CEO Antonio Horta-Osorio said in a...

  • LONDON, July 31- The dollar steadied near a one-week high against a basket of currencies on Friday and was on track for an almost 2 percent monthly rise, with the latest U.S. growth data supporting the case for the Federal Reserve to raise interest rates this year. "Expectations of a September rate hike were probably marginally firmed up on the growth data but it...

  • BERLIN— Switzerland's central bank is reporting a hefty loss for the second consecutive quarter after its decision to drop a cap on the franc's value against the euro sent the national currency soaring higher. The Swiss National Bank said Friday it lost 20 billion francs in the April-June period, nearly 18 billion francs of that on foreign-currency positions...

  • HONG KONG/ SHANGHAI, July 31- Agricultural Development Bank of China, one of China's main policy lenders, and other development banks will issue over 1 trillion yuan of new bonds in coming years to fund lending for infrastructure projects, three people with direct knowledge of the plans told Reuters. The bonds will be issued in multiple tranches, the first as soon...

  • For Singapore banks, will the rise in NIMS last?

    Matthew Phan, analyst, Asia-Pacific Banks at Creditsights, explains why the boost in net interest margin securities (NIMS) among Singapore banks will be sustainable.

  • OCBC vs UOB earnings: 'A tale of two banks'

    OCBC's overseas strategies paid off in the three months ended June, while UOB "paid the price for staying at home", says Lachlan Colquhoun, chief executive at East and Partners.

  • MEXICO CITY, July 30- Mexico substantially bolstered its intervention program to defend the peso on Thursday as the central bank warned that the currency could slump further after a recent string of record lows. The currency commission, run jointly by the finance ministry and the central bank, said it would increase daily dollar auctions just as the Banco de...

  • MADRID, July 30- Spanish bank Santander said on Thursday former U.S. banking regulator Sheila Bair had resigned from its board after being named rector of Washington College in Maryland. Bair, who ran the Federal Deposit Insurance Corporation from 2006 to 2011, was appointed to the board of the euro zone's biggest bank, which is making a big push in the United...

  • LONDON, July 30- Hopes the worst is over for big banks' financial market trading look premature, with the latest snapshot of earnings and volumes suggesting the pressure on these operations remains intense. "FICC revenues for the Coalition Index will decline in Q2 this year versus Q2 last year, and the first half versus the first half last year," said George...

  • A group of influential financial minds is calling on banks to reform their internal culture and meaningfully punish wrongdoing.

  • *British arm becomes main profit engine, Spain lags. The stronger growth points to progress in Chairwoman Ana Botin's plan to improve profits by expanding lending rather than through acquisitions, as the bank tries to ride an economic recovery in Europe. In Britain-- now the group's biggest profit engine ahead of Brazil-- lending rose nearly 3 percent from the end...

  • MOSCOW, July 30- Russia's second-largest bank VTB said on Thursday it had completed the placement of around 307 billion roubles of preference shares with the state corporation Deposit Insurance Agency. The share issue is to be included in VTB Bank's core Tier 1 capital following registration of the issue by the central bank, VTB said in a regulatory filing.

  • Gov. Rick Perry's plan to energize the economy Thursday, 30 Jul 2015 | 8:43 AM ET
    Gov. Rick Perry plan to energize the economy

    Former Texas Gov. Rick Perry discuss his economic plan to create a manufacturing renaissance in the U.S., and weighs in on Hillary Clinton's tax plan.

  • Gov. Rick Perry: I know how to secure the border Thursday, 30 Jul 2015 | 8:43 AM ET
    Gov. Rick Perry: I know how to secure the border

    GOP presidential candidate and former Texas Gov. Rick Perry talks about trading barbs with Donald Trump, how he would secure the U.S. border, and his political leadership experience.

  • Dick Bove bullish on BofA and Moynihan Thursday, 30 Jul 2015 | 8:15 AM ET
    Dick Bove bullish on BofA and Moynihan

    Richard Bove, Rafferty Capital, explains why he thinks Brian Moynihan is the right man to lead Bank of America. Also Bove shares his thoughts on the departure of CFO Bruce Thompson.

  • LONDON, July 30- Gold fell more than 1 percent on Thursday, trading close to a 5-1/ 2- year low hit last week, as the dollar jumped after the Federal Reserve left the door open for a rate rise in September and ahead of U.S. Spot gold dropped 1.3 percent to a session low of $1,081.85 an ounce in earlier trade, not far from its cheapest since February 2010 at $1,077 hit after a...

  • FRANKFURT, July 30- Deutsche Bank's new boss hit out at staff in a memo on Thursday saying performance was "nowhere good enough" after Germany's largest bank warned that its turnaround was at risk from heavy legal charges. "The status quo is not an option," he said in staff memo after the bank reported a second-quarter net profit of 818 million euros, slightly better...

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