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Finance Banks

  • *Posts annual loss of 7 billion pounds. LONDON, Feb 24- Royal Bank of Scotland reported a sharp rise in losses on Friday as higher misconduct charges and restructuring costs underscored the challenges facing the lender nine years after it was bailed out in the world's biggest bank rescue. But the next three years will not be the same as the past three, "Chief...

  • A logo sits above an automated teller machine (ATM) outside a Royal Bank of Scotland Group (RBS) bank branch in London, U.K.

    Royal Bank of Scotland (RBS), one of the U.K.'s "big four" banks, reported its ninth consecutive year of losses in its full-year earnings release on Friday.

  • LONDON, Feb 24- Royal Bank of Scotland reported on Friday a sharp rise in losses as higher misconduct charges and restructuring costs underscored the challenges facing the lender nine years after it required the world's biggest bank bailout. RBS, which has not made an annual profit since 2007, booked 6.96 billion pounds of losses for 2016, against a 1.98...

  • Difficult to announce this loss: RBS CFO

    RBS CFO Ewen Stevenson discusses the bank's latest earnings, which saw it post its ninth consecutive year of losses.

  • Don't just buy StanChart for its lower valuation: Expert

    Dickie Wong of Kingston Securities says he's not optimistic about Standard Chartered's profitability.

  • Not only has the world changed, but the occupant of the White House has changed, and that will change, perhaps substantially, the lineup and outlook of the Federal Reserve. Whats more there was little by way of discussion about the $4.5 trillion balance sheet of bonds the Fed purchased to influence the level of interest rates, credit availability and longer-term...

  • *Investors look to Trump's address to Congress on Feb. 28. NEW YORK/ LONDON, Feb 23- Gold prices rose 1 percent to a 3-1/ 2- month high on Thursday after minutes from the latest Federal Reserve policy meeting further dampened expectations for an interest rate hike in March, lowering U.S. bond yields and pressuring the dollar. since Feb. 6, and was up 1 percent at $1,249.36...

  • LONDON/ MILAN, Feb 23- European shares fell slightly on Thursday, weighed down by a pull-back in banking and mining stocks in a day where trading activity was dominated by a raft of company earnings. Losses in Barclays and in HSBC, which continued its slide after a disappointing update earlier this week, resulted in a 1 percent fall for Europe's banking index.

  • ATLANTA, Feb 23- Outgoing Atlanta Federal Reserve president Dennis Lockhart put a plug in for looser bank regulations on Thursday, saying debate over ways to change the Dodd-Frank financial reform laws were appropriate given the economy's strength and what he regards as improved bank management. The regulatory "pendulum," he said, had likely swung too far in the...

  • SAO PAULO, Feb 23- Yields on Brazilian interest rate futures narrowed on Thursday after the country's central bank signaled it could accelerate the pace of cuts to lift the economy from a deep recession. After the market close on Wednesday, central bank policymakers voted to cut the benchmark Selic rate by 75 basis points for the second straight time to 12.25...

  • *Budapest stocks off record on OTP Bank, Magyar Telekom retreat. *Bucharest stocks at another 9- year high on Banca Transilvania. BUDAPEST, Feb 23- Budapest stocks retreated from record highs on Thursday, driven by Magyar Telekom which opted against raising its dividend guidance while Central European stock indices mostly rose.

  • *Gold hits highest since Nov. 11. *Investors look to Trump's address to Congress on Feb. 28. LONDON, Feb 23- Gold prices on Thursday hit a three-month high after the minutes of the latest Federal Reserve policy meeting further dampened expectations of an interest rate hike in March, lowering U.S. bond yields and stalling upward momentum in the dollar.

  • WASHINGTON— More Americans applied for unemployment benefits last week, but claims remained at a low level consistent with a healthy job market. THE NUMBERS: The Labor Department said Thursday that 244,000 Americans applied for jobless aid last week, up by 6,000 from the previous week. "The pattern is consistent with the trend in employment growth remaining...

  • South Africa's Competition Commission said last week that it had found more than a dozen local and foreign banks had colluded to coordinate trading in the rand and the U.S dollar using an instant chat room called ZAR Domination, a reference to the rand's official currency market code. Local lender Standard Bank, which is also among the 17 named in the...

  • JERUSALEM, Feb 23- Israel's central bank is expected to leave short-term interest rates unchanged for a 24th straight month next week, amid benign inflation partly caused by a strong shekel. All 10 economists polled by Reuters forecast the Bank of Israel will keep its benchmark interest rate at 0.1 percent on Monday at 4 pm. "We expect the stronger exchange rate to...

  • LONDON— Banking group Barclays said Thursday it will complete its restructuring plan six months early as it sheds risky assets and focuses on consumer, corporate and investment banking in New York and London. They include retail banking in continental Europe and corporate banking in Africa and the Middle East, among others. Shares rose more than 4 percent in...

  • *Investors look to Trump's address to Congress on Feb. 28. LONDON, Feb 23- Gold was steady on Thursday after the minutes of the latest Federal Reserve policy meeting further dampened expectations for an interest rate hike next month, lowering U.S. bond yields and stalling upward momentum in the dollar. Unease over the political outlook in the United States and...

  • NPL problem is significant in Italy: EBA’s exec director

    Adam Farkas, executive director at European Banking Authority, talks about whether a ‘bad bank for toxic loans in the European Union’ can be implemented.

  • First time in four years we've seen growth - Barclays months away from being a standout bank

    Barclays CEO Jes Staley discusses the bank's earnings and its focus on restructuring, which will be completed by mid-2017.

  • We will stay connected to Europe post-Brexit: Barclays CEO

    Reflecting on the implications of Brexit, Barclays CEO Jes Staley adds that "London will remain the financial center for Europe."

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