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Finance Banks

  • SYDNEY, March 31- Australia's competition regulator on Friday said it would bar a group of the country's largest banks from bargaining collectively for access to Apple Inc's contactless payment function, potentially setting a global precedent. That would have enabled banks to circumvent transaction fees and get customers to engage more frequently with...

  • Steven Mnuchin

    Treasury Secretary Steve Mnuchin made around $11.2 million for his role as the vice chairman of CIT Group in 2016.

  • SYDNEY, March 31- Australia's competition regulator on Friday said it would bar a group of the country's largest banks from bargaining collectively for access to Apple Inc's contactless payment function, potentially setting a global precedent. The decision, the first of its kind, will stop the banks from introducing their own mobile applications on devices...

  • Wells Fargo Bank

    Wells Fargo has been trying to put its cross-selling scandal behind it since the matter was brought to light last year.

  • *Governor says move can happen any time after April 1. PRAGUE, March 30- The Czech central bank dropped its guidance of a likely mid-year exit from its exchange rate cap on Thursday, sending a loud signal to markets that the end of the ultra-loose policy may be near. Governor Jiri Rusnok said after a board meeting that the bank could end its cap on the crown anytime from...

  • March 30- Canadian Imperial Bank of Commerce said on Thursday it has raised its offer for Chicago- based lender PrivateBancorp Inc by 20 percent to about $4.9 billion, after some PrivateBancorp shareholders opposed CIBC's initial bid. CIBC shares dropped 2 percent to C $114.87 on Thursday, while PrivateBancorp shares jumped 5.8 percent to $59.48.

  • SAO PAULO, March 30- Yields paid on Brazilian interest rate futures were barely changed on Thursday after the central bank said it could accelerate rate cuts, all but confirming market expectations of a 100 basis-point reduction next month. Investors were already banking on a faster monetary loosening, with yields on rate futures indicating a roughly 85...

  • *NBG earns 53 mln euros in 2016, cuts NPEs by 2.8 bln euros. ATHENS, March 30- Greek banks Alpha and National returned to profitability last year, aiming to stay the course in 2017 and further reduce their huge stock of bad loans. Alpha Bank, Greece's fourth-largest lender by assets, made a profit for the second straight quarter in the final three months of the year, as...

  • NEW DELHI, March 30- The New Development Bank set up by the BRICS group of major emerging economies plans to raise up to $500 million via rupee-denominated masala bonds in the second half of the year, the bank's president, K.V. Kamath, said on Thursday. The BRICS- Brazil, Russia, India, China and South Africa- agreed to create the infrastructure-focussed lender in July...

  • March 30- Canadian Imperial Bank of Commerce said on Thursday it has raised its offer for Chicago- based lender PrivateBancorp Inc by 20 percent to about $4.9 billion, after some PrivateBancorp shareholders opposed CIBC's initial bid. PrivateBancorp's board has backed CIBC's revised offer. CIBC shares dropped 3 percent to C $113.66 on Thursday, while...

  • LUSAKA, March 30- A Chinese bank will help finance the construction of 2,000 homes for Zambian military personnel who face a critical shortage of housing, president Edgar Lungu said on Thursday. The 1.5 bilion kwacha project would be financed by the Development Bank of Zambia with support from the Industrial and Commercial Bank of China, Lungu said in a...

  • SHANGHAI/ BEIJING, March 30- The world's largest lender, Industrial and Commercial Bank of China, reported its slowest rate of annual profit growth in more than a decade on Thursday, and China's bankers pledged to do more to help borrowers struggling with debt. China's main banks are preparing to roll out measures this year to ease the burden for struggling...

  • LONDON, March 30- The euro dipped and bond yields hit multi-week lows on Thursday as easing inflation in Spain and Germany led investors to row back further on expectations of when the European Central Bank might tighten monetary policy. The single currency dipped 0.3 percent against the dollar and the yield on Germany's 10- year government bond, the benchmark...

  • LONDON, March 30- The euro dipped and bond yields hit multi-week lows on Thursday as easing inflation in Spain and Germany led investors to row back further on expectations of when the European Central Bank might tighten monetary policy. The single currency dipped 0.3 percent against the dollar and the yield on Germany's 10- year government bond, the benchmark...

  • NAIROBI, March 30- Kenya's central bank on Thursday invited investors interested in buying a stake in Chase Bank to submit their bids, with the aim of concluding the transaction by the end of September. It is now in the hands of Kenya Deposit Insurance Corporation, a state body that protects depositors in the case of a bank failure, and the central bank has said it...

  • TORONTO, March 30- Scrutiny of Canada's financial oversight sparked by reports of improper sales practices at the nation's top banks shows its watchdogs lack the muscle and the bite to tackle consumer abuses as aggressively as their U.S. and European peers. Canada's banking system avoided failures in the 2007-09 financial crisis and the World Economic Forum...

  • SHANGHAI, March 30- China's banking regulator is inspecting off-balance sheet risks at smaller regional banks, two sources told Reuters on Thursday, as China steps up checks on financial institutions in an effort to control risky lending. The China Banking Regulatory Commission is checking the size and potential risks from off-balance sheet activities...

  • March 30- U.S. stock index futures were slightly lower on Thursday as investors awaited key economic data, including a final reading on fourth-quarter GDP numbers, and speeches by a host of Federal Reserve officials. *Investors have been assessing what the Republicans' failure to pass a healthcare bill means for tax reform and the rest of President Donald...

  • SHANGHAI, March 30- The chairman of Industrial and Commercial Bank of China Ltd, the world's largest lender, said on Thursday he expects asset quality to improve this year. Yi Huiman made the comments at a press conference following the release of the bank's annual results. ICBC said its net profit slipped 0.64 percent in the fourth quarter of 2016 as margins...

  • AMSTERDAM, March 30- The European Central Bank could start winding down its massive asset buying scheme earlier than planned but only if the economy continues to outperform expectations, Dutch central bank chief Klaas Knot said on Thursday. "Only if the economy does even better than we now expect in our estimates could we consider bringing the tapering forward,...

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