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Finance Banks


  • LONDON, July 8- British lender Barclays has ousted Chief Executive Antony Jenkins after three years in the post, saying on Wednesday it had decided new blood would help accelerate strategic change at the bank and boost shareholder returns. Shares in the bank jumped in early trade and were up 2.6 percent at 258.80 pence by 0735 GMT. Barclays said Jenkins, who had...

  • BEIJING, July 8- China's central bank has appointed the Bank of China, the country's fourth-largest bank, as the bank that clears yuan transactions in South Africa.

  • LONDON, July 8- British lender Barclays surprised markets on Wednesday by announcing a search for a new chief executive in an attempt to accelerate strategic change and boost shareholder returns. The bank said Antony Jenkins, who has led the bank since 2012, would be stepping aside, leaving its new chairman John McFarlane to take over executive duties until a...

  • Barclays Chairman: Jenkins 'not the right person' Wednesday, 8 Jul 2015 | 9:48 AM ET
    Antony Jenkins, former chief executive officer of Barclays

    Barclays Chief Executive Antony Jenkins was "just not the right person to take us forward," his interim successor told CNBC.

  • Copper prices hit lowest level in six years on China worries. NEW YORK, July 7- Copper and other metals plunged on Tuesday as the euro sank to a five-week low against the dollar after the European Central Bank tightened lending conditions for Greek banks and as the collapse in equities prices in China drove fears about the country's economy.

  • Living wills no way to run banking industry: Bove Tuesday, 7 Jul 2015 | 5:22 PM ET
    Dick Bove

    Making banks draw up living wills is no way to run an industry and seeks to weaken confidence in the banking system, Dick Bove said.

  • ECB to keep Greek banks afloat till Sunday -Merkel Tuesday, 7 Jul 2015 | 5:13 PM ET

    BRUSSELS, July 7- European Central Bank chief Mario Draghi assured euro zone leaders on Tuesday the ECB would do the necessary to keep Greek banks afloat until an EU summit on Sunday that will seek a deal on further aid to Greece, German Chancellor Angela Merkel said. Speaking at a news conference after an emergency summit of euro zone leaders, Merkel said she was "...

  • LONDON/ ATHENS, July 7- Greek banks could start to run out of cash over the next two days if creditors do not agree to a new aid deal, two sources familiar with the country's financial system said on Tuesday. With withdrawals from cash machines rationed to a maximum of 60 euros a day and the banks shut since last week, supplies of banknotes have been dwindling fast.

  • Why Europe’s City of Love could gain from Brexit Tuesday, 7 Jul 2015 | 12:38 PM ET

    Paris would “have a card to play” as a new European financial hub should Britons vote to quit the 28-country union, leading players in the city’s financial scene told CNBC.

  • Greek olive farmers demand cash as bank fears grow Tuesday, 7 Jul 2015 | 10:47 AM ET

    LONDON/ ATHENS, July 7- The cash economy emerging after the closure of Greece's banks is beginning to paralyze the country's vital olive oil industry as farmers demand cash for supplies that distributors are unable to pay. With the country's lenders at risk of default, Greece's half a million olive growers, many of them small family businesses, fear the banks will...

  • FACTBOX-Banks' use of ECB lending facilities Tuesday, 7 Jul 2015 | 10:24 AM ET

    LONDON, July 7- Commercial bank borrowing from the European Central Bank has been high for years in the countries most affected by the sovereign debt crisis, while lending to banks in the euro zone core has fallen. The GDP column is the share of euro zone gross domestic product in 2013. The figures for July 2009 provide a comparison with the situation at the height...

  • FRANKFURT, July 7- The European Central Bank cannot provide emergency funding to banks on overly generous terms or against insufficient collateral, it said on Tuesday, spelling out strict terms for banks in Greece and elsewhere to obtain such funds. The ECB, which has been providing an Emergency Liquidity Assistance lifeline to Greek banks, on Monday raised the...


  • LONDON, July 7- British software company Sage is tying up with lenders Funding Circle and MarketInvoice to give its small business customers easier access to alternative sources of funds. Bank lending in Britain has been weak since the financial crisis and many small businesses have struggled to get finance from traditional lenders. MarketInvoice, which...

  • HSBC fires staff over sick 'team building' video Tuesday, 7 Jul 2015 | 5:15 AM ET

    HSBC has fired six members of its U.K. staff after they posted a video featuring an Islamic State-style mock execution.

  • The rise in social lending Tuesday, 7 Jul 2015 | 4:50 AM ET
    The rise in social lending

    Daniel Green, CEO of Flendr, explains the concept behind his business, which facilitates lending between friends and family.

  • Unyielding euro zone gives Athens last chance Monday, 6 Jul 2015 | 11:17 PM ET

    Athens has a last chance to present new reforms to eurozone leaders, despite a hardening attitude after Greece's rejection of previous bailouts, the FT reports.

  • Merk: Greece is a sideshow for world markets Monday, 6 Jul 2015 | 10:19 PM ET
    Merk: Greece is a sideshow for world markets

    While the Greek crisis is "extremely tragic" for the country, it will remain a non-event for global markets, says Axel Merk, president and chief investment officer at Merk Investments.

  • Ross: Greek 'No' vote won't disrupt world markets Monday, 6 Jul 2015 | 7:25 PM ET
    Ross: Greek 'No' vote won't disrupt world markets

    Wilbur Ross, chairman and CEO of WL Ross & Co, says the referendum's results may disrupt Greece's economy, but it will have no consequences for global markets.

  • DIARY-Top Economic Events to July 21 Monday, 6 Jul 2015 | 8:00 PM ET

    SYDNEY- Reserve Bank of Australia holds interest rate meeting- 0430 GMT. PARIS- Bank of France Governor Christian Noyer is due to speak about EU capital markets union at a financial sector conference- 0700 GMT. FRANKFURT- German's Bundesbank Board member Joachim Nagel to speak on "Asset Management of Public Pension Funds"- 1400 GMT.

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