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Finance Banks

  • NEW YORK/ LONDON, June 14- Gold turned negative on Wednesday after the Federal Reserve increased interest rates but was less dovish than expected following a two-day meeting, and the dollar sharply pared its losses against a basket of major currencies. Spot gold fell 0.2 percent at $1,263.03 an ounce by 3:10 p.m. EDT, while U.S. gold futures for.

  • *Fed raises rates, gives details on balance sheet reduction. NEW YORK, June 14- U.S. stocks edged lower on Wednesday after the Federal Reserve raised interest rates for the second time in three months and weaker oil prices weighed on the energy sector. "I dont think that there is really too much new in here outside of the fact that the Fed remains committed to the slow...

  • NEW YORK, June 14- The Federal Reserve pressed ahead with plans to shrink its $4.5 trillion in bond holdings, outlining on Wednesday a very gradual plan for trimming securities that came in at the low end of Wall Street estimates. The Fed plans to initially allow no more than $6 billion in Treasuries to run off per month, and will raise that "cap" each quarter by $6...

  • DUBAI, June 14- Kuwait's central bank said on Wednesday it was keeping its discount rate at the current level of 2.75 percent, despite the U.S. Federal Reserve's decision to raise rates by 25 basis points. In a statement, the Kuwaiti central bank noted that it had hiked its key rate following U.S. interest rate rises in the past.

  • WASHINGTON, June 14- The Federal Reserve raised interest rates on Wednesday for the second time in three months, citing continued U.S. economic growth and job market strength, and announced it would begin cutting its holdings of bonds and other securities this year. The Fed said the initial cap for Treasuries would be set at $6 billion per month initially and...

  • *Fed raises rates, gives details on balance sheet reduction. June 14- U.S. stocks were little changed on Wednesday after the Federal Reserve made a widely expected move to raise interest rates for the second time in three months. The Fed "met expectations and delivered a dovish hike," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in...

  • WASHINGTON— The Federal Reserve has raised its key interest rate for the third time in six months, providing its latest vote of confidence in a slow-growing but durable economy. The Fed also announced plans to start gradually paring its bond holdings later this year, which could cause long-term rates to rise. The Fed's decision to raise rates, announced in a...

  • *RBC, TD, BMO among banks likely to provide funds- sources. TORONTO, June 14- Home Capital Group Inc is in talks with a syndicate of banks, including some of Canada's biggest lenders, to secure a loan of about C $2 billion to replace a costly emergency credit line it agreed in April, people with knowledge of the matter told Reuters. The new loan will be on much more favorable...

  • TORONTO, June 14- Home Capital Group Inc is in talks with a syndicate of banks, including some of Canada's biggest lenders, to secure a loan of about C $2 billion to replace a costly emergency credit line it agreed in April, people with knowledge of the matter told Reuters. Depositors have withdrawn 95 percent of funds from Home Capital's high interest savings...

  • BRUSSELS, June 14- European Union regulators should consider the social impact of winding down banks when they apply new liquidation rules that could affect depositors, retail investors and senior bondholders, a German-Italian joint paper said. The rules have been criticised by Italy, which reached a preliminary deal with the EU this month for an exception so...

  • *Fed rate decision due at 2:00 p.m. ET. June 14- Wall Street was slightly lower on Wednesday as a drop in oil prices weighed on energy stocks, while weak economic data took a toll on bank shares ahead of a widely expected interest rate hike by the Federal Reserve. Oil prices fell to their lowest in more than five weeks after data showed a surprise buildup in U.S....

  • NEW YORK— The Latest on the Federal Reserve's monetary policy meeting:. Federal Reserve Chair Janet Yellen says she has not spoken with President Donald Trump about serving a second four-year term in office. Former President Barack Obama nominated Yellen as Fed chair and her term is slated to end on February 3, 2018.

  • *German, French and Spanish yields hit fresh lows. LONDON, June 14- Europe's benchmark bond yield hit a fresh seven-week low as analysts said weak growth and inflation may encourage the U.S. central bank to adopt a cautious tone after a widely expected rate hike at its meeting on Wednesday. Germany's 10- year yield and most other euro zone equivalents dropped on...

  • DUBAI, June 14- Qatar National Bank, the largest bank in the Middle East and Africa, has seen no significant outflows of deposits since a diplomatic rift started between Qatar and certain other Arab countries, it said on Wednesday. Last week, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt decided to cut diplomatic ties with Qatar and impose stringent...

  • CAIRO, June 14- Egypt's central bank on Wednesday removed limits on international currency transfers, scrapping a $100,000 monthly limit on individual bank transactions in a long-awaited reform intended to lure back badly needed foreign investment. Egypt put in place strict controls on the movement of foreign currency after its 2011 political uprising in...

  • *Fed rate decision due at 2:00 p.m. ET. June 14- U.S. stocks were flat in late morning trade on Wednesday as a set of weak economic data weighed on bank shares, while investors waited for the Federal Reserve to pull the trigger on a second interest rate hike this year. The economic data also pressured the dollar index, which fell to its lowest since Nov. 9.

  • FRANKFURT, June 14- Often outspoken European Central Bank rate setter Ewald Nowotny questioned the ECB's most sacred tenet on Wednesday: its inflation target. Nowotny, an Austrian, asked at an event organised by Germany's Bundesbank. But it would potentially make funding more expensive for indebted governments in the south of the bloc, such as Italy and...

  • June 14- U.S. stocks pared gains to trade little changed on Wednesday as a set of weak economic data weighed on bank stocks, while investors braced for a near-certain interest rate hike by the Federal Reserve. Investors will also be looking for any details on the Fed's plans to trim its $4.5 trillion balance sheet. "It's a Fed day and the markets will likely not blink...

  • CAIRO, June 14- Egypt's central bank on Wednesday removed limits on international currency transfers, scrapping a $100,000 monthly limit on individual bank transactions in a long-awaited reform intended to lure back badly needed foreign investment. Egypt put in place strict controls on the movement of foreign currency after its 2011 political uprising in...

  • *Dana Gas down in volatile trade. *Qalaa Holdings pulls back in Egypt. DUBAI, June 14- Most major stock markets in the Gulf rose on Wednesday as shares in Qatar picked up and Saudi Arabian banks rose on expectations for a U.S. interest rate hike later in the day, which Riyadh would most probably imitate.

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