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  • NEW YORK, May 14- Increasing expectations the U.S. Federal Reserve will hold off raising interest rates until September at the earliest boosted Wall Street on Thursday and drove the dollar to near its lowest level since January. "People are pretty focused on the weak numbers for the U.S.," said David Gilmore, partner at Foreign Exchange Analytics in Essex,...

  • 5 banks to plead guilt to felony charges Thursday, 14 May 2015 | 11:00 AM ET
    5 banks to plead guilt to felony charges

    Five banks are set to plead guilty to felony charges and pay billions in fines for currency market rigging.

  • BERLIN, May 14- The head of Germany's Bundesbank ripped into the European Central Bank on Thursday, saying emergency funding for Greek banks broke the taboo of financing governments and it was not up to central banks do decide who was or wasn't in the euro zone. Jens Weidmann also said it was questionable whether money printing by the ECB to boost the euro zone...

  • NEW YORK, May 14- The U.S. dollar held near its lowest since January against a currency basket on Thursday after downward U.S. producer price data challenged hopes for better U.S. economic growth and supported the view that the Federal Reserve would delay hiking interest rates. "People are pretty focused on the weak numbers for the U.S.," said David Gilmore, partner at...

  • EDINBURGH, May 14- State-backed Lloyds Banking Group could be returned to full private ownership in the next 12 months, its Chairman Norman Blackwell told reporters. The government, which pumped 20 billion pounds into the bank to bail it out during the 2007-9 financial crisis, has already reduced its stake to under 20 percent from 41 percent.

  • MOSCOW, May 14- The Russian rouble fell sharply on Thursday after the central bank announced it was buying foreign currency worth $100- 200 million daily to replenish its reserves, a sign it thinks the rouble has strengthened enough. The bank's move to buy forex represents a reversal from its actions last year, when the bank expended reserves to defend the rouble,...

  • TOKYO, May 14- Japan's Sharp Corp said it had secured a $1.9 billion bailout, its second major bank-led rescue in three years, after falling deep into the red as its smartphone display business was battered by competition from Asian rivals. Chief Executive Kozo Takahashi said he was not considering spinning off the company's troubled display business and would...

  • ATHENS, May 14- Repayment of what Greece owes to the European Central Bank should be pushed into the future, but it is not an option because it fills ECB chief Mario Draghi's "soul with fear," Greece's finance minister said on Thursday. Yanis Varoufakis said Draghi, president of the European Central Bank, cannot risk irritating Germany with such a debt swap because of...

  • BEIJING, May 14- China is considering implementation of a pilot program to securitise bad assets this year, Ye Yanfei, deputy director of the China Banking Regulatory Commission's prudential regulation bureau, told a press conference on Thursday. China's central bank is expected to publish rules on information disclosure for the issuance of asset-backed...

  • LONDON, May 14- Low interest rates that have forced investors to pile into riskier assets in the hunt for yield pose the biggest risk to financial stability at present, top banking regulators in Europe said at this week's Reuters Regulation Summit. Already historically low interest rates have been pressured further by the European Central Bank's 1...

  • MOSCOW, May 14- The Russian rouble fell sharply on Thursday after the central bank announced it was buying foreign currency worth $100- 200 million daily to replenish its reserves, a sign that it believes the rouble has strengthened far enough. The bank's move to buy forex represents a reversal from its actions last year, when the bank expended reserves to defend...

  • *To also get 25 billion yen from turnaround fund. TOKYO, May 14- Japan's Sharp Corp said it had secured a $1.9 billion bailout, its second major bank-led rescue in three years, after falling deep into the red as its smartphone display business was battered by competition from Asian rivals. Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ will inject a combined 200...

  • MOSCOW, May 14- The Russian central bank has decided to buy currency to replenish its reserves worth $100- $200 million on a daily basis starting from May 13, the bank said on Thursday.

  • HONG KONG, May 14- Shadow banking, a term often associated with murky funding, is emerging as an important source of credit for the real economy at a time when capital-strapped banks are reluctant to lend, regulators told Reuters. Yet, regulators should allow new forms of non-bank finance to develop if enough trust can be built in those systems, said Greg Medcraft,...

  • WASHINGTON/ NEW YORK, May 14- Major banks wary of heavy U.S. penalties will be reluctant to restore ties with Iran even if sanctions are lifted in a possible nuclear deal, bank executives and advisers say, likely denting Iran's ambition to attract foreign investment to revive its crippled economy. After years of being frozen out of the global banking system and...

  • Chile's CorpBanca says Itau merger deal undervalues it Wednesday, 13 May 2015 | 9:38 PM ET

    SANTIAGO, May 13- Chilean bank CorpBanca said a deal with Brazil's Itau Unibanco last year now considerably undervalues it, casting fresh doubt on the troubled merger between the two Latin American lenders. In a letter to the local regulator on Wednesday evening, CorpBanca said that solid results over the last year, plus a weak performance at the local arm of Itau,...

  • SINGAPORE, May 14- Gold hovered near a five-week high on Thursday, supported by overnight gains from sluggish U.S. retail sales data that triggered speculation the Federal Reserve will not hike interest rates soon. *Spot gold ticked 0.2 percent lower to $1,212.96 an ounce by 0033 GMT, but remains near a five-week high of $1,218.80 reached on Wednesday.

  • DIARY- Top Economic Events to May 27 Wednesday, 13 May 2015 | 8:01 PM ET

    WASHINGTON- European Central Bank President Mario Draghi will give the Michel Camdessus Central Banking Lecture at the International Monetary Fund- 1400 GMT. LONDON- Bank of England member Don Kohn speaks to the Society of Business Economists- 1700 GMT. OTTAWA- Bank of Canada publishes its semi-annual review, with articles on Inflation Dynamics in the...

  • FOREX-Dollar recoils as retail sales sting, kiwi soars Wednesday, 13 May 2015 | 7:31 PM ET

    SYDNEY, May 14- The dollar languished at three-month lows against a basket of major currencies early on Thursday after surprisingly soft retail sales prompted investors to wonder if the Federal Reserve can afford to hike interest rates at all this year. Against the yen, the greenback slid to a two-week trough of 119.03, while the euro came within a whisker of a...

  • BRASILIA, May 13- Caixa Econômica Federal, Brazil's top mortgage lender, and the Industrial and Commercial Bank of China Ltd will create a $50 billion fund for Brazilian infrastructure investments, two government sources with knowledge of the plans said on Wednesday. The governments agreed the fund will finance a railway link from Brazil's Atlantic coast to...

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