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Finance Banks

  • ZURICH, July 12- Wealthy clients of Swiss private bank Falcon will be able to store and trade bitcoins via their cash holdings with the bank from Wednesday, a move that signals the traction the virtual currency is gaining even in slow-changing asset management. The group's new blockchain asset management service is being offered in partnership with...

  • July 12- U.S. stocks were higher in late morning trading on Wednesday, with the Dow hitting a record, after Federal Reserve Chair Janet Yellen said interest rates hikes would be gradual and will not have to rise much further to reach the neutral rate. Yellen, in a prepared testimony delivered to Congress, said the economy is healthy enough to absorb further gradual...

  • WASHINGTON, July 12- The U.S. economy is healthy enough for the Fed to move forward with plans to raise rates and begin winding down its massive bond portfolio, though low inflation and a low neutral rate may leave the central bank with diminished leeway, Fed Chair Janet Yellen said on Wednesday. In what may be one of her last appearances before Congress, Yellen...

  • OTTAWA, July 12- The Bank of Canada raised interest rates for the first time in nearly seven years on Wednesday, citing confidence in its outlook and a need to look through soft inflation, but said it will wait for more economic data before committing to its next move. The widely expected rate hike makes Canada the first major central bank to follow the Federal...

  • Federal Reserve Board Chairwoman Janet Yellen

    Read Fed Chair Yellen's full testimony to Congress, where she discusses monetary policy and the current economic situation.

  • OTTAWA, July 12- The Bank of Canada raised interest rates for the first time in nearly seven years on Wednesday, citing confidence in its outlook and a need to look through soft inflation, but said it will wait for more economic data before committing to its next rate hike. The widely expected rate hike makes Canada the first major central bank to follow the Federal...

  • *Yellen to testify before Congress at 10 a.m. ET. July 12- U.S. stocks opened higher on Wednesday after Federal Reserve Chair Janet Yellen said interest rates hikes would be gradual and will not have to rise much further to reach neutral rate. Yellen, in a prepared testimony to be delivered to Congress at 10 a.m. ET, said the economy is healthy enough to absorb further...

  • *United Electronics down on profit-taking. DUBAI, July 12- Stock markets in the Middle East rose on Wednesday, bolstered by banking shares ahead of testimony from Federal Reserve Chair Janet Yellen that could offer clues on when the central bank will tighten U.S. monetary policy. Most Gulf currencies are pegged to the dollar and any monetary policy change in the...

  • *Bank of Canada interest rate decision due. TORONTO, July 12- The Canadian dollar was unchanged against its U.S. counterpart on Wednesday as investors braced for the Bank of Canada's interest rate decision, oil prices rose, and the greenback dipped against a basket of major currencies. But the rapid climb in Canadian yields since the Bank of Canada turned hawkish...

  • ATM cash machines outside a branch of the Royal Bank of Scotland in Edinburgh.

    Royal Bank of Scotland will pay $5.5 billion to settle one of the two major U.S. investigations into allegations it mis-sold mortgage-backed bonds.

  • NEWARK, N.J.— Mastermind of' Bridgegate' plot avoids prison after testifying against 2 other allies of New Jersey Gov.

  • WASHINGTON— Federal Reserve Chair Janet Yellen told Congress Wednesday that the Fed is carefully watching a recent slowdown in inflation and if it persists, it could lead the central bank to rethink its plans on rate hikes. She also said the Fed wants to begin gradually trimming its massive $4.5 trillion in bond holdings later this year, a move that will also put...

  • *Fed to release Beige Book at 2 p.m. ET. July 12- Wall Street looked set to open higher on Wednesday ahead of Federal Reserve Chair Janet Yellen's semi-annual monetary policy testimony before Congress. The Fed Chair is expected to tell the House Financial Services Committee at 1000 ET that the central bank remains on a hawkish course of steadily rising rates.

  • Wells Fargo

    Wells Fargo is scaling back its auto lending business in response to growing stress in the market, as well as a push for more centralized risk controls.

  • July 12- U.S. stock index futures were higher on Wednesday ahead of Federal Reserve Chair Janet Yellen's testimony to Congress. *Yellen will present her semi-annual monetary policy testimony before the House Financial Services Committee at 1000 ET. *U.S. stocks closed flat on Tuesday after clawing back from a fall as emails suggested Trump Jr. welcomed Russian...

  • July 12- U.S. stock index futures were higher on Wednesday ahead of Federal Reserve Chair Janet Yellen's testimony to Congress. *Yellen will present her semi-annual monetary policy testimony before the House Financial Services Committee at 1000 ET. *U.S. stocks closed flat on Tuesday after clawing back from a fall as emails suggested Trump Jr. welcomed Russian...

  • BEIJING, July 12- Chinese lenders extended more credit than expected in June, as home lending stayed buoyant while a clampdown on shadow financing activities forced banks to shift more loans onto their books. Beijing has tightened the screws on financial risks due to an explosive growth in debt but has injected substantial liquidity at times to avoid a crunch...

  • TOKYO, July 12- Crisis-hit Toshiba Corp has regained access to a crucial $6 billion credit line after stumping up shares in its chip unit as collateral but its lenders have imposed tough conditions, banking sources with direct knowledge of the matter said. Hit by massive cost overruns at its now bankrupt U.S. nuclear unit, Toshiba needs billions of dollars in...

  • BEIJING, July 12- Chinese banks extended more credit than expected in June as housing loans remained strong despite property curbs, amid a continuing clampdown on risky shadow lending activities. Chinese banks extended 1.54 trillion yuan in net new yuan loans in June, well above analysts' expectations of 1.2 trillion yuan, up from 1.11 trillion in May.

  • Global investors seem to be getting bullish on banks Stateside, but the European banking system is still falling behind.

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