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  • Jia Yueting, co-founder and head of Le Holdings Co Ltd, also known as LeEco and formerly as LeTV, gestures as he unveils an all-electric battery "concept" car called LeSEE during a ceremony in Beijing, China April 20, 2016.

    China's informal banking system helped LeEco tap a quick source of funds from small investors by promising low risk, high returns in a case that shows how companies in the country can quickly amass debt, the New York Times reports.

  • June 2- Bitcoin exchange Coinbase Inc is in talks with potential investors on a new round of funding at a valuation of more than $1 billion, the Wall Street Journal reported on Friday. Coinbase said in January it raised $75 million from several major financial institutions including the New York Stock Exchange, USAA Bank and Spanish banking group BBVA.

  • NEW YORK, June 2- Wall Street's top banks are united in the belief the Federal Reserve will raise U.S. interest rates when it meets in two weeks' time, but recent choppy data on the U.S. economy has created a division of opinion about what happens after that, a Reuters poll showed on Friday. "The overall report shows a continued tightening in labor markets and should help...

  • June 2- Employment growth may be slowing, potentially signaling a rising risk of a recession, but the Federal Reserve has tactical reasons to forge ahead with interest rate rises. Even though flagging job creation would remove the single leg of the Feds one-legged justification for tightening, dont expect the U.S. central bank to be quick to back away from its...

  • June 2- As Wall Street awaits President Donald Trump's vision for financial regulation, big U.S. banks are pushing for a lucrative change his appointees can execute without a legislative fight: easing annual stress tests. "While we believe that stress-testing is the best way to gauge capital adequacy, we also believe that a fresh look at how stress-testing is...

  • NEW YORK, June 2- Wall Street's top banks see the Federal Reserve as being on track to raise interest rates at its policy meeting later this month even after a government report showed a severe pullback in hiring in May, a Reuters poll showed on Friday. "The overall report shows a continued tightening in labor markets and should help solidify the Fed's decision to...

  • *Reiterates to remain long-term investor in Britain. OSLO, June 2- Norway's $960 billion sovereign wealth fund will ask the banks in which it has invested to disclose how their lending contributes to greenhouse gas emissions, its chief executive told Reuters on Friday. The world's largest wealth fund, which is managed by Norges Bank Investment Management and...

  • ST PETERSBURG, Russia, June 2- A $13 billion takeover by Russian oil major Rosneft of India's Essar Oil should close this month after delays caused by debts to Indian lenders, the head of State Bank of India said on Friday, adding she had "more or less" approved the deal. "There is a very real possibility this deal will close shortly and we expect to see this happening very...

  • WASHINGTON, June 2- Philadelphia Federal Reserve Bank President Patrick Harker said on Friday that the U.S. central bank remains on track to meet its inflation goal and reiterated his support for a further two interest rate increases this year. "Turning to inflation, things are still on track, despite a couple of months trending in the wrong direction," Harker said...

  • Chen Feng, chairman of HNA Group

    Hainan Airlines parent is on a $40 billion spree, but sources of funding raise questions, Financial Times reports.

  • OSLO, June 2- Norway's $960 billion sovereign wealth fund will ask the banks in which it has invested to disclose how their lending contributes to global emissions of greenhouse gases, its chief executive told Reuters on Friday. The world's largest wealth fund, which invests in stocks, bonds and real estate abroad, has in the past measured the carbon footprint of...

  • ST PETERSBURG, June 2- The State Bank of India expects to complete a planned share sale by year-end, probably through a qualified institutional placement, bank Chairman Arundhati Bhattacharya said on Friday. SBI, India's biggest lender by assets, has shortlisted six banks to manage the sale that could be worth up to $2.3 billion. "It's a good way of raising funds in...

  • Why Italy's banking troubles have moved on from just BMPS

    Gianluca Corradi, head of U.K. banking practice at Simon-Kucher & Partners, updates on the troubles faced by Italy's banking sector.

  • SYDNEY, June 2- Macquarie Group Ltd, battling a surprise $4.6 billion tax on Australia's lenders, left open the option of moving its headquarters abroad on Friday, baffling analysts and lawyers who warned a costly shift may do little to avoid the levy. Australia shocked banks and investors last month with a new balance sheet tax that hits all lenders with more than...

  • SYDNEY, June 2- Macquarie Group Ltd, battling a surprise $4.6 billion tax on Australia's lenders, left open the option of moving its headquarters abroad on Friday, baffling analysts and lawyers who warned a costly shift may do little to avoid the levy. Australia shocked banks and investors last month with a new balance sheet tax that hits all lenders with more than...

  • President Donald Trump stands next to Jamie Dimon, chief executive officer of JPMorgan Chase & Co., left, as he greets attendees during a Strategic and Policy Forum meeting in the State Dining Room of the White House in Washington, D.C., U.S., on Friday, Feb. 3, 2017.

    JPMorgan CEO Jamie Dimon joined other business leaders in disagreeing with the White House's decision to leave the Paris agreement.

  • *Increase in JGB holding slows to Y71 trln, below Y80 trln target. TOKYO, June 2- The Bank of Japan hit a new milestone as its balance sheet topped 500 trillion yen, roughly the same size as that of the Federal Reserve, having more than tripled since it started aggressive stimulus in 2013.. It was 164.8 trillion yen when Governor Haruhiko Kuroda took the helm in March...

  • *Increase in JGB holding slows to Y71 trln, below Y80 trln target. TOKYO, June 2- The Bank of Japan hit a new milestone as its balance sheet topped 500 trillion yen, roughly the same size as that of the Federal Reserve, having more than tripled since it started aggressive stimulus in 2013.. It was 164.8 trillion yen when Governor Haruhiko Kuroda took the helm in March...

  • ADDISON, Texas- Federal Reserve Bank of Dallas President Robert Kaplan speaks at a Q&A at the City of Addison Economic Development Luncheon- 1700 GMT. READING, Pennsylvania- Federal Reserve Bank of Philadelphia President Patrick Harker speaks on the economic outlook and the Federal Reserve Bank of Philadelphia's Economic Growth and Mobility Project before...

  • ADDISON, Texas- Federal Reserve Bank of Dallas President Robert Kaplan speaks at a Q&A at the City of Addison Economic Development Luncheon- 1700 GMT. READING, Pennsylvania- Federal Reserve Bank of Philadelphia President Patrick Harker speaks on the economic outlook and the Federal Reserve Bank of Philadelphia's Economic Growth and Mobility Project before...

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