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Finance Banks


  • ANKARA, July 29- Full-year profit forecasts for the Turkish banking sector look set to be lowered in coming days, with second-quarter results expected to confirm the impact of a slowing economy, political uncertainty and a weaker lira. The Banks Association of Turkey forecast average net profit growth of 8 percent for banks in 2015 at the start of the year, while...

  • Brian Moynihan

    Despite recent management changes, Brian Moynihan is the right guy and Bank of America is the right stock, says Dick Bove.

  • *Antofagasta cuts annual production guidance. LONDON, July 29- Copper dipped on Wednesday ahead of a U.S. central bank statement expected to set the stage for an interest rate hike in September and a potentially firmer dollar. Copper rallied earlier in the session, sparked by a rebound on the Chinese stock market and hopes of more stimulus in the world's top...

  • NEW YORK, July 29- The dollar held steady against major currencies on Wednesday as traders awaited possible clues from the Federal Reserve on whether it will raise interest rates, perhaps as early as September. Although inflation has remained below the Fed's 2 percent target and overseas developments including the European debt crisis and most recently...

  • Fed expected to push ahead with rate hike plan Wednesday, 29 Jul 2015 | 6:28 AM ET
    Federal Reserve Board Chair Janet Yellen testifies during a hearing before Senate Banking, Housing and Urban Affairs Committee July 16, 2015 on Capitol Hill in Washington, DC.

    The Fed is expected to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September.

  • LONDON, July 29- Major currencies that are closely linked to commodities prices were back on the defensive on Wednesday as oil prices inched lower and traders awaited the outcome of a U.S. The New Zealand dollar was again the exception to that rule, gaining after the country's central bank governor played down the chances of further deep cuts to interest rates...

  • Barclays reports sevenfold increase in profits Wednesday, 29 Jul 2015 | 4:07 AM ET

    LONDON— Barclays, Britain's second largest bank, said Tuesday that second quarter profit increased sevenfold, boosted by earnings from investment banking and a 496 million pound gain on assets acquired from Lehman Brothers in 2008.. While Barclays is performing well, "there is more that can be done to deliver better returns for shareholders, faster," McFarlane...

  • Should Barclays scrap its investment bank? Wednesday, 29 Jul 2015 | 2:00 AM ET
    Should Barclays scrap its investment bank?

    Stewart Richardson , partner and CIO of RMG Wealth Management, questions Barclays' investment banking strategy.

  • Barclays ramps up selloffs as profits rise Wednesday, 29 Jul 2015 | 3:29 AM ET

    New Barclays Chairman John McFarlane will wield the axe even more quickly at the bank, it emerged Wednesday.

  • WASHINGTON, July 29- The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September. With a slew of employment, inflation and GDP reports to come before its September meeting, the Fed is unlikely to hint too strongly about its plans, Barclays economists...

  • SHANGHAI, July 29- China's yuan inched up against the dollars on Wednesday as some corporate clients sold dollars after the central bank set the official guidance rate slightly firmer, traders said. The People's Bank of China set the midpoint rate at 6.1150 per dollar prior to market open, 0.01 percent firmer than the previous fix at 6.1154.

  • WASHINGTON— The Federal Reserve is moving toward raising interest rates from record lows— just not likely yet. The meeting will end with a policy statement but no news conference by Chair Janet Yellen. "Our economy is in a much better state," Yellen told Congress earlier this month.

  • Pressure mounts on India lenders as bad loans pile up Tuesday, 28 Jul 2015 | 10:06 PM ET

    Three of India's leading state-run lenders reported a drop in their first quarter net profits, weighed down by rise in provision for bad loans.

  • Big fight over the big bank Tuesday, 28 Jul 2015 | 2:00 PM ET
    Big fight over the big bank

    Should America revive the Export-Import bank? Dan Ikenson, Director of the Center for Trade Policy Studies at Cato and Mike Madowitz, Economist at the Center for American Progress, discuss.

  • Ex-Im Bank essential for our businesses: Penny Pritzker

    Penny Pritzker, U.S. Commerce Secretary, weighs in on the role of the Export-Import Bank and why she supports it.

  • What does sudden CFO exit mean for BofA? Tuesday, 28 Jul 2015 | 11:04 AM ET
    Brian Moynihan

    The New York Times explores the environment at Bank of America that led to Thompson's departure and what lies ahead.

  • NEW YORK, July 28- The U.S. dollar rebounded against the euro and yen on Tuesday after traders took profits from gains in those currencies and favored the greenback on expectations that the Federal Reserve could take a hawkish bias in a policy statement on Wednesday. "Anybody who bought euros amid the 1 percent rally yesterday is likely to take some money off the...

  • LONDON, July 28- Cerberus, the private equity firm named after the mythical three-headed dog guarding the gates of Hades, is leading a charge by U.S. investors who are snapping up European loans at knockdown prices. New York- based Cerberus Capital Management has bought more than 27 billion euros of European loans in the last 2-1/ 2 years, acting along with rivals...

  • LONDON, July 28- Gold edged higher on Tuesday but remained near 5-1/ 2- year lows as markets braced for this week's two-day Federal Reserve meeting, at which policymakers are tipped to give further clues on the timing of a U.S. rate increase. Gold hit a low of $1,077 on Friday, its cheapest since early 2010, in a fifth week of losses. "Gold is treading water despite a...

  • Management shakeup: Catalyst for investment? Tuesday, 28 Jul 2015 | 4:30 AM ET
    Management shakeup: Catalyst for investment?

    Philippe Bodereau, MD & global head of financial research at Pimco, reveals whether earnings and new management roles have made him more bullish on European banks.

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