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Finance Banks

  • Europe's benchmark index of 300 leading shares fell 0.2 percent to 1,459 points, with the region's banking index down as much as 2 percent in early trade. The biggest drag was British-based HSBC, Europe's largest bank by assets. Britain's FTSE 100 bore the brunt of London- listed HSBC's troubles, falling 0.4 percent.

  • PARIS, Feb 21- France's second-biggest retail bank BPCE said it would cut 5 percent of its branches and was aiming at 750 million euros in cost savings as part of a plan to boost its digital banking services.

  • LONDON, Feb 21- European equities slipped in early trading on Tuesday, with HSBC leading the regional banking index lower after reporting a 62 percent slump in its annual pre-tax profit. Europe's biggest bank dropped 6 percent and was headed for its biggest one-day fall since August 2015 after its results fell far short of analysts' estimates as it took hefty...

  • Tailwind behind European financials

    Stewart Richardson, partner at RMG Wealth Management, explains his views on trading financials and Donald Trump's economic policies.

  • HONG KONG/ LONDON, Feb 21- HSBC Holdings reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates as the British bank took hefty writedowns from its restructuring, sending its Hong Kong shares down 3.5 percent. The 2016 profit reflected a $3.2 billion impairment of goodwill in its global private banking business in Europe...

  • HSBC's bottom line is 'ugly': Expert

    Jackson Wong of Huarong International says the bank reported results that were "way off" expectations.

  • HSBC reports 2016 results

    CNBC's Emily Tan takes a look at HSBC shares after the bank posted its full-year results for 2016.

  • *Cbank looks to get money more quickly to weakest sectors. BEIJING, Feb 21- China's central bank said on Tuesday that it will extend a preferential scheme for some banks that will free up additional funds for lending, as long as they channel money to weaker, cash-starved sectors of the economy. The People's Bank of China launched a program in 2014 that allows banks to...

  • Skyline of London

    HSBC Holdings' 2016 pre-tax profit fell 62 percent, below analysts' estimates, as it grappled with slowing economic growth in its core markets.

  • BEIJING, Feb 21- China's central bank said on Tuesday that it will make dynamic changes to banks' targeted reserve requirement ratio rates, effective from Feb. 27. The People's Bank of China recently completed an assessment of banks' adherence to RRR regulations based on lending to rural sector and small firms in 2016, and said most banks meet their targeted RRR...

  • Goldman Sachs goes to court in Indonesia

    Bill Sullivan of Christian Teo & Partners weighs in on the billion-dollar lawsuit involving Goldman Sachs and a tycoon in Indonesia.

  • Outlook for HSBC could be cloudy: Expert

    Alex Wong of Ample Capital says HSBC results are likely to be better than a year ago but he's less certain about the bank's future.

  • BOISE, United States- Federal Reserve Bank of San Francisco President John Williams speaks on "Getting to Know the Fed" before Boise State University students- 2030 GMT. GOLDEN VALLEY, United States- Federal Reserve Bank of Minneapolis President Neel Kashkari participates in conversation on the economy and the role of the Federal Reserve before the Financial...

  • BOISE, United States- Federal Reserve Bank of San Francisco President John Williams speaks on "Getting to Know the Fed" before Boise State University students- 2030 GMT. GOLDEN VALLEY, United States- Federal Reserve Bank of Minneapolis President Neel Kashkari participates in conversation on the economy and the role of the Federal Reserve before the Financial...

  • LISBON, Feb 20- The Bank of Portugal will hold a final round of exclusive negotiations with U.S. private equity firm Lone Star as it seeks to flesh out the terms of the potential sale of state-rescued lender Novo Banco, the central bank said on Monday. Olivier Brahin, president of Lone Star for Europe, said in a separate statement his firm was "committed to confirming a...

  • LONDON, Feb 20- Gold held steady on Monday as traders awaited further clues on the pace of U.S. interest rate rises from a group of Federal Reserve officials due to speak this week. Spot gold was at $1,236.01 an ounce at 1230 GMT,. little changed from $1,235.22 on Friday, while U.S. gold futures for April delivery were down 0.2 percent at $1,237.10.

  • LISBON, Portugal— Portugal's central bank says it has picked U.S. private equity firm Lone Star for exclusive final negotiations on its bid to buy Novo Banco, the so-called good bank salvaged by the Portuguese government from the collapse of major lender Banco Espirito Santo. The Bank of Portugal said Monday the negotiations aimed to finalize the terms of a sale...

  • LONDON, Feb 20- Gold held steady on Monday after ending the previous week little changed, as traders awaited further clues on the pace of U.S. interest rate rises from a raft of Federal Reserve officials due to speak this week. Spot gold was at $1,235.21 an ounce at 1030 GMT,. "It's still wait and see for the gold market right now," UBS analyst Joni Teves said.

  • DUBAI, Feb 20- Rania Nashar was named chief executive of Samba Financial Group on Monday, becoming the first female CEO of a listed Saudi commercial bank in line with the government's economic and social reforms. Women, banned from driving in Saudi Arabia and subject to a system of male guardianship, hold few top posts in the financial sector.

  • KEEPING SCORE: Japan's benchmark Nikkei 225 index lost 0.1 percent to 19,207.30 and South Korea's Kospi dipped 0.1 percent to 2,078.08. Also due this week: a German business confidence index on Tuesday, U.S. new home sales on Friday and earnings from big companies such as British bank HSBC. ANALYST VIEW: "Asian markets look set for a soft start to the week with a lack...

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