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  • BUENOS AIRES, Argentina— Argentina's central bank has ordered HSBC's local unit to name a new president and vice president for failing to prevent money laundering and tax evasion. Argentina's tax agency had charged HSBC bank in November with helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts.

  • WASHINGTON, Sept 2- U.S. labor markets were tight enough to fuel small wage gains in some professions in recent weeks, though some companies already were feeling a chill from an economic slowdown in China, the Federal Reserve said on Wednesday. While many Fed policymakers think the U.S. labor market is close to full strength, China is casting a long shadow on the...

  • WASHINGTON, Sept 2- The U.S. government has initially underestimated job growth for almost every August over the last decade, a trend that could make it harder for the Federal Reserve to decide if an upcoming employment report will signal America is ready for a rate hike. The Labor Department's jobs report for August, which will be released on Friday, will be the...

  • The data issued Wednesday by the Federal Deposit Insurance Corp. showed continued improvement for the banking industry seven years after the crisis struck. The FDIC reported that U.S. banks earned $43 billion in the second quarter, up from $40.1 billion a year earlier. "The banking industry had another positive quarter as recent trends have continued," FDIC...

  • NEW YORK, Sept 2- Bond guru Bill Gross, who has long called for the Federal Reserve to raise interest rates, said on Wednesday that U.S. central bankers may have missed their window of opportunity to hike rates earlier this year and doing so now could create "self-inflicted" instability. In his September Investment Outlook report, Gross wrote that his concept of a...

  • *Ambarella falls as Q3 revenue forecast misses expectations. *Navistar falls on possibility of SEC lawsuit. Sept 2- U.S. stock futures pared some gains on Wednesday, but kept Wall Street on track to open higher, after weaker-than-expected private U.S. jobs data, raising the odds that the Federal Reserve would not raise interest rates this month.

  • SHANGHAI, Sept 2- China's yuan weakened slightly on Wednesday as dollar demand ahead of public holidays the following two days offset a stronger official midpoint and state-bank dollar sales on behalf of the central bank, traders said. "Many people bought dollars today as banks need foreign exchange to prepare for possible demand from their customers during...

  • China's AIIB looks to beat World Bank on loan terms Tuesday, 1 Sep 2015 | 8:28 PM ET
    Jin Liqun, left, current secretary general of the Multilateral Interim Secretariat of Asian Infrastructure Investment Bank, shakes hands with China's Finance Minister Lou Jiwei ahead of a signing ceremony of articles of agreement of the AIIB, at the Great Hall of the People in Beijing, June 29, 2015.

    China's new international development bank will offer loans with fewer strings attached than the World Bank, sources said.

  • DIARY- Top Economic Events to Sept 14 Tuesday, 1 Sep 2015 | 8:01 PM ET

    STOCKHOLM- Swedish Central Bank holds monetary policy meeting. Speakers:- International Monetary Fund Managing Director Christine Lagarde, Reserve Bank of India Deputy Governor Urjit Patel, Bank of Japan Deputy Governor Hiroshi Nakaso, Indonesia Finance Minister Bambang Brodjonegoro and IMF Monetary and Capital Markets Department Division Chief Ulric...

  • *Looser lending rules seen as challenge to World Bank, ADB. *World Bank, ADB, play down talk of rivalry with newcomer. BEIJING, Sept 2- China's new international development bank will offer loans with fewer strings attached than the World Bank, sources said, as Beijing seeks to change the unwritten rules of global development finance.

  • Argentine authorities locked horns with HSBC in November when they charged the bank with helping more than 4,000 clients evade taxes by stashing their money in secret Swiss bank accounts. HSBC rejected the charge, but Argentina said in March it wanted HSBC to repatriate $3.5 billion that Argentine tax authorities said the bank had moved offshore.

  • Sept 1- A federal appeals court on Tuesday revived three lawsuits in which the City of Miami accused Wells Fargo& Co, Bank of America Corp and Citigroup Inc of predatory mortgage lending to black and Hispanic borrowers. District Judge William Dimitrouleas in Fort Lauderdale, Florida dismissed Miami's lawsuits. "It is clear that the harm the city claims to have...

  • Sept 1- A federal appeals court on Tuesday revived three lawsuits in which the City of Miami accused Bank of America Corp, Citigroup Inc and Wells Fargo& Co of violating the federal Fair Housing Act by engaging in predatory lending. The 11th U.S. Circuit Court of Appeals said a lower court judge applied too stringent a standard in dismissing the city's claims.

  • BofA proposal makes mockery of oversight: Mayo Tuesday, 1 Sep 2015 | 8:29 AM ET
    Mike Mayo

    Bank of America's move to combine the role of CEO and board chair makes a mockery of efforts to improve bank oversight, Mike Mayo said.

  • BofA statement on duel leadership role Tuesday, 1 Sep 2015 | 8:25 AM ET
    BofA statement on duel leadership role

    Bank of America sent CNBC the following statement regarding its decision to combine the role of CEO and chairman.

  • LISBON, Sept 1- The Bank of Portugal is to start negotiations with U.S. fund Apollo Global Management on the sale of state-rescued Novo Banco after exclusive talks with China's Anbang Insurance Group Co were unsuccessful, two sources familiar with the talks said. The Bank of Portugal said in a statement: "As no agreement has been reached, the Bank of Portugal...

  • Vote 'no' on BofA duel leadership role: Mike Mayo Tuesday, 1 Sep 2015 | 7:36 AM ET
    Vote 'no' on BofA duel leadership role: Mke Mayo

    Mike Mayo, CLSA Americas managing director, explains why he is urging shareholders to vote for separate leadership roles at Bank of America and separate Brian Moynihan's position as both CEO and chairman.

  • Portugal struggles to sell rescued bank Tuesday, 1 Sep 2015 | 7:38 AM ET

    LISBON, Portugal— Portugal is having trouble selling Novo Banco, the so-called good bank salvaged from last year's collapse of major lender Banco Espirito Santo. Novo Banco received 4.9 billion euros from a so-called bank resolution fund, a mechanism adopted during the eurozone debt crisis to support the financial sector. Also, the center-right government,...

  • DUTCH CENTRAL BANK GIVES PENSION FUNDS 12 YEARS TO RECOVER@. AMSTERDAM, Sept 1- The Netherlands' Central Bank on Tuesday gave Dutch pension funds, which including some of the largest in the world, 12 years to rectify low funding ratios. In the past, funds had been required to repair their funding ratios- their current estimated assets compared with their estimated...

  • Calpers, Calstrs oppose CEO-chairman role at BofA Tuesday, 1 Sep 2015 | 6:29 AM ET
    Brian Moynihan

    Two public pension funds oppose an amendment of bylaws at Bank of America that would allow Brian Moynihan to continue as both CEO and chairman.

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