Finance Banks

  • By Andrew MacAskill and Lawrence White. LONDON, July 28- Lloyds Banking Group said on Thursday it would step up its cost cutting plans to help to offset a more testing economic environment caused by Britain's vote to quit the European Union. Britain's largest retail bank aims to save 400 million pounds by end-2017 by axing a further 3,000 jobs and closing an...

  • BMPS is epitome of the sector’s woes: Axiom

    Gildas Surry, senior analyst at Axiom Alternative Investments, says there could be an issue of contagion in both Italy’s and Europe's financial markets.

  • Stress tests are a good tool: BNP Paribas CFO

    When discussing the upcoming ECB stress tests, BNP Paribas CFO, Lars Machenil says the bank has a diversified approach which makes it resilient to many turbulences.

  • Italy has shaped euro banking industry for years: Axiom

    How bad will the ECB stress tests be for Italian banks? Gildas Surry, senior analyst at Axiom Alternative Investments, discusses which lenders will be in the spotlight.

  • LONDON, July 28- The dollar fell against the yen on Thursday as expectations faded of the Bank of Japan delivering the radical stimulus package some had expected this week, and after the U.S. Japan's prime minister unveiled a surprisingly large 28 trillion yen stimulus package on Wednesday, putting pressure on the central bank to match it with aggressive...

  • *Q2 net profit 170 Sfr vs Rtrs poll avg loss 192 mln Sfr. ZURICH, July 28- Credit Suisse posted a surprise second-quarter net profit, confounding expectations for a third straight quarterly loss and giving a major boost to Chief Executive Tidjane Thiam's efforts to restructure Switzerland's second-biggest bank. The net profit of 170 million francs was well down...

  • We have to cautious because of uncertainty: AIB CEO

    Bernard Byrne, CEO of AIB, comments on the Irish bank's latest results and outlines what challenges lie ahead.

  • British sterling ten pound banknotes are seen in an automated teller machine (ATM) in this posed photograph taken outside a branch of the British bank Lloyds in London.

    U.K. lender to accelerate its cost-cutting plan to help offset a likely drop in demand for credit caused by the vote to quit the EU.

  • Brexit has no immediate impact: Credit Suisse CEO

    Tidjane Thiam, CEO of Credit Suisse, comments on the bank's second-quarter profits and talks about how Brexit may affect the bank's strategy.

  • Low interest rates weigh on performance: BNP Paribas CFO

    Lars Machenil, CFO of BNP Paribas, talks about bank's latest earnings and the impact of low interest rates on the economy.

  • Tidjane Thiam, the chief executive of Credit Suisse, told CNBC that Brexit has so far had "no impact" on its business.

  • France's biggest bank, BNP Paribas, posted a narrow increase in net profit on Thursday, as its retail bank struggled to the low interest-rate environment.

  • PARIS, July 27- BNP Paribas struggled to increase profit in the second quarter as its cash cow French retail banking business suffered a sharp fall in pretax income due to low interest rates and declining financial fees. Pretax income in domestic markets covering France, Italy and Belgium fell 2.1 percent in the second quarter despite an 11 percent fall in the...

  • TOKYO, July 28- The yen gained on Thursday on speculation that the Bank of Japan won't deliver radical stimulus this week, while the dollar took a step back after the U.S. The dollar skidded 0.5 percent to 104.92 yen, while the euro was 0.3 percent lower at 116.19 yen ahead of the BOJ's two-day policy meeting that begins on Thursday. "It seems the market is preparing for...

  • China is considering restricting investments by small banks in the rapidly growing $3.5 trillion wealth management product industry, draft rules seen by Reuters showed, as concerns grow that they are taking increasing risks. "The move is expected to slow cash inflows into the stock market, although details of how the curbs will be implemented are still void,"...

  • HONG KONG, July 28- China's yuan rose to three-week highs against the dollar on Thursday, as the central bank set another stronger midpoint to reflect weakness in global dollar index after the Federal Reserve stopped short of signaling a near-term rate rise. The People's Bank of China set the midpoint rate at 6.6597 per dollar prior to market open, firmer than the...

  • TOKYO, July 28- Asian stocks edged up on Thursday after the Federal Reserve provided an positive assessment of the world's largest economy and lifted risk sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent after briefly climbing to its highest level since August 2015. Australian shares rose 0.4 percent and Shanghai...

  • SHANGHAI, July 28- China's share indexes fell in early trade on Thursday, extending a slump from the previous session, on news that Chinese regulators are planning a clampdown on wealth management products to curb risks to the banking system. China is considering rules to restrict investments by small banks in the $3.5 trillion wealth management product...

  • TOKYO, July 28- Japan's Nikkei share average fell on Thursday morning after Wall Street ended lower and a stronger yen soured sentiment, while most investors stayed cautious amid the two-day Bank Of Japan policy meeting that ends Friday. Eyes are on the BOJ's meeting while many investors expect the central bank to expand monetary stimulus after Prime Minister...

  • *Spot gold was little changed at $1,338.87 an ounce at 0112 GMT. Bullion on Wednesday touched a high of $1,342.18, its best since July 14. *Japan's prime minister unveiled a surprisingly large $265 billion stimulus package on Wednesday to reflate the world's third-largest economy, adding pressure on the central bank to match the measures with monetary stimulus...

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