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  • Bove on banks: Everything that could be going right is going right

    Dick Bove, Rafferty Capital Markets, discusses whether the bond rout will hurt the rally in financials.

  • BOSTON, Dec 8- A payment processing glitch at BNY Mellon Corp this week should not be a surprise as executives inside the world's largest custody bank recently highlighted a number of problems with the daily task of moving trillions of dollars around the global banking system. Known as a trust bank, BNY Mellon safeguards and keeps track of nearly $26 trillion in...

  • President-elect Donald Trump plans to nominate Andrew Puzder, chief executive of fast-food chain operator CKE Restaurants Inc, as his choice for labor secretary, a source familiar with the matter said on Thursday. He assembled an investor group to buy a failed California mortgage lender in 2009, rebranded it as OneWest Bank and built it into Southern...

  • President-elect Donald Trump plans to nominate Andrew Puzder, chief executive of fast-food chain operator CKE Restaurants Inc, as his choice for labor secretary, a source familiar with the matter said on Thursday. He assembled an investor group to buy a failed California mortgage lender in 2009, rebranded it as OneWest Bank and built it into Southern...

  • President-elect Donald Trump plans to nominate Andrew Puzder, chief executive of fast-food chain operator CKE Restaurants Inc, as his choice for labor secretary, a source familiar with the matter said on Thursday. He assembled an investor group to buy a failed California mortgage lender in 2009, rebranded it as OneWest Bank and built it into Southern...

  • U.S.-BASED BANKING/FINANCIAL SECTOR FUNDS TAKE IN $978 MLN IN WEEKLY PERIOD; 10 TH STRAIGHT WEEK OF INFLOWS- LIPPER.

  • Dec 8- Time Inc, the publisher of Time, People and Fortune magazines, has tapped Morgan Stanley and Bank of America Corp to help find potential buyers or partners, the Wall Street Journal reported. The media company rejected a takeover bid from billionaire investor Edgar Bronfman Jr, the New York Post reported last month. Bronfman, former CEO of Warner Music Group,...

  • Republican president-elect Donald Trump embraces his wife Melania during his election night event at the New York Hilton Midtown in the early morning hours of November 9, 2016 in New York City.

    The Trump rally has all the signs of a late-stage bull market run — pent-up enthusiasm bringing the last of the skeptics off the sidelines.

  • NEW YORK, Dec 8- The euro dropped over 1 percent on Thursday after the European Central Bank cut the size of its asset purchase program but extended it longer than many had expected. "They are still going to buy a lot," said Steven Englander, global head of foreign exchange strategy at Citigroup in New York. "It didn't help the euro was at the highs; we had a clearing of euro...

  • SAO PAULO, Dec 8- Sérgio Clemente has left his post as senior vice-president for wholesale banking at Banco Bradesco SA, Brazil's No. 3 listed bank, a spokeswoman said on Thursday. His responsibilities will be taken over by Marcelo Noronha, the bank's vice-president of cards and marketing, the representative added. Marlene Morán also left her position as...

  • Analyst: Banks will continue to outpeform until end of next year

    Jason Goldberg, Barclays banks analyst, shares why he thinks financials are heading higher.

  • *Italy's No.1 bank seen announcing 13 bln euro share sale. MILAN, Dec 8- Italy's largest lender, UniCredit, is set to announce next week the country's biggest bank share issue, worth up to 13 billion euros, in what would be a major test of confidence in Italy's wider banking system, sources said. Chief Executive Jean-Pierre Mustier, drafted in this year to boost capital...

  • The bank, Italy's biggest retail lender, has deep ties in Russia and advised state-owned Rosneft on the sale of the 19.5 percent stake. Wednesday's announcement showed the Kremlin can lure big foreign investors to its oil sector despite political risks associated with Russia, which is locked in a stand-off with the West over conflicts in Ukraine and Syria.

  • DUBAI, Dec 8- Saudi Oger's attempt to restructure around 13 billion riyals in debts have been dealt another blow after a second major creditor obtained a court order demanding the money it is owed by the construction group, sources said. Saudi Oger, owned by the family of Lebanese Prime Minister-designate Saad al-Hariri, has for years played a central role in...

  • LONDON, Dec 8- Central banks investigating whether computer programs or an individual triggered October's sterling "flash crash," the latest to hit a major financial market, may consider computerized stabilization programs as a possible response. The Financial Times reported on Wednesday that officials were looking at flows through a Tokyo- based trader at...

  • Donald Trump

    Stocks had a surprisingly strong month in November, but for hedge funds it was more of the same.

  • *Stock markets climb for fourth day, Wall Street at record. *China trade beats forecasts, commodity imports jump. LONDON, Dec 8- The euro dived following a brief surge and bond markets were left dazed on Thursday, after the European Central Bank said it would slow its stimulus program from April but also extend it until at least the end of next year.

  • NEW YORK, Dec 8- The euro dropped over 1 percent on Thursday after the European Central Bank extended asset purchases until the end of next year and President Mario Draghi said cuts to the size of the program should not be viewed as tapering. The ECB said it will reduce its asset buys to 60 billion euros from next April from the current 80 billion euros, and extend...

  • SAO PAULO, Dec 8- Brazilian antitrust watchdog Cade said it has fined five international banks a combined 183.5 million reais as part of a settlement of charges they rigged the country's currency market. In July 2015, Cade accused a total of 15 banks of colluding to influence benchmark currency rates in Brazil by aligning positions and pushing transactions in a...

  • ECB President Mario Draghi said he is "confident" that the Italian government knows what to do to address the country's banking sector.

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