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Finance Banks

  • ROME/ MILAN, Dec 15- Italy's government is ready to pump 15 billion euros into Monte dei Paschi di Siena and other ailing banks, sources said, as the country's third-largest lender pushes ahead with a private rescue plan that is widely expected to fail. The world's oldest bank has until Dec. 31 to raise 5 billion euros in equity or face being wound down by the European...

  • LONDON, Dec 15- Gold hit its lowest since early February on Thursday after the Federal Reserve sounded an unexpectedly hawkish note on U.S. interest rates, sparking a surge in Treasury yields and sending the dollar to a 14- year high. Spot gold hit a 10-1/ 2 month low of $1,126.48 an ounce, and was down 1.3 percent at $1,129.47 an ounce by 1455 GMT. U.S. gold futures for...

  • Dec 15- Wall Street was higher on Thursday, helped by a rise in bank stocks, a day after the Federal Reserve increased interest rates for the first time this year and signaled a faster pace of hikes in 2017.. The Fed sees three rate hikes next year instead of the two foreseen as of September, partly as a result of the changes anticipated under President-elect Donald...

  • Gary Cohn, president of Goldman Sachs and President-elect Donald Trump's choice for director of National Economic Council, arrives at Trump Tower, December 14, 2016, in New York City.

    Goldman Sachs promoted a new generation of leaders on Wednesday after Gary Cohn's departure from the bank, The New York Times reports.

  • Traders work on the floor of the New York Stock Exchange as Federal Reserve Chairwoman Janet Yellen speaks to the media following the central bank's latest policy meeting on December 14, 2016 in New York City.

    Traders in the fed funds futures market believe the year ahead probably won't see more than two increases.

  • Dec 15- U.S. stocks opened slightly higher on Thursday, a day after the Federal Reserve increased interest rates for the first time this year and signaled a faster pace of hikes in 2017.. The Dow Jones Industrial Average rose 22.86 points, or 0.12 percent, to 19,815.39. The S&P 500 gained 1.03 points, or 0.04 percent, to 2,254.31.

  • MAPUTO, Dec 15- Mozambique's central bank has bailed out the country's fourth largest commercial lender in a move it said was needed to prevent the failure of its banking system. Banco de Mozambique governor Rogério Lucas Zandamela said the central bank had injected 8 billion meticais to recapitalise Moza Banco, which is owned by Portugal's Novo Banco, to...

  • PARIS, Dec 15- Credit Agricole's French retail bank unit LCL is to cut 750 to 850 of back-office jobs- or 20 percent of its support functions- over the next two years as part of a voluntary redundancy plan, a union source said. LCL is cutting staff and closing branches as declining revenue in a low interest rate environment forces the bank to shed costs.

  • Ailing Italian bank Monte dei Paschi di Siena on Thursday formally approved a last-ditch attempt to raise 5 billion euros by year end.

  • Dec 15- Wall Street looked set to open slightly lower on Thursday, a day after the Federal Reserve increased interest rates for the first time this year and signaled a faster pace of hikes in 2017.. The Fed sees three rate hikes next year instead of the two foreseen as of September, partly as a result of the changes anticipated under President-elect Donald Trump.

  • *Orascom Telecom rebounds in Egypt. DUBAI, Dec 15- Most major Middle Eastern stock markets fell on Thursday after the U.S. central bank raised interest rates but buying by local retail investors lifted Saudi Arabia. The central banks of Saudi Arabia, Kuwait, Bahrain, the United Arab Emirates and Qatar followed the Fed with their own 0.25 percentage point rate hikes...

  • Banks waste no time hiking prime lending rates

    CNBC's Wilfred Frost takes a look at those banks increasing rates after the Federal Reserve raised interest rates.

  • LONDON, Dec 15- Some of the top banks in Europe have said this year that they plan to cut a total of fewer than 50,000 jobs, a sharp drop from the number announced in 2015. Data compiled by Reuters shows 17 of Europe's biggest banks have announced a total of about 46,000 staff cuts since the beginning of the year- 65 percent lower than the 130,000 job losses announced by...

  • LONDON, Dec 15- Job cuts announced by European banks have tumbled in 2016, as they work through a backlog of layoffs unveiled in previous years and struggle to find new areas where they can trim staff without threatening profitable operations. Some industry watchers say lenders might even recruit a little next year overall, provided the market rally following...

  • SAO PAULO, Dec 15- Latin American currencies weakened on Thursday after the U.S. In a conference call after the decision, Fed Chair Janet Yellen said the election of Donald Trump as U.S. president had put the central bank under a "cloud of uncertainty" and prompted some policymakers to shift their view of what will come. Brazil's benchmark Bovespa stock, which fell...

  • A pedestrian passes a sign in front of JPMorgan Chase headquarters in New York.

    Authorities have called the scheme "securities fraud on cyber-steroids," reports NBC News.

  • MEXICO CITY, Dec 15- Some Mexican banks are lowering credit card spending limits and raising consumer lending standards in the face of an economic slowdown, rising interest rates and the U.S. election victory of Donald Trump. After a period of robust overall credit growth, Mexican banks are cutting credit card exposure to counter a potential rise in consumer...

  • *Wall St slips, most Asia stocks follow. LONDON, Dec 15- The dollar charged to a 14- year high and government bond yields rose sharply on Thursday after the Federal Reserve hiked U.S. interest rates and signaled more would follow at a faster pace next year. Bond markets saw yields on short-term U.S. debt surge to the highest since 2009, sending the dollar to peaks last...

  • *BOJ may contemplate raising rates next year- sources First, need clear signs of pick-up in economy, prices. TOKYO, Dec 15- Interest rate hikes are back on the radar at the Bank of Japan, for the first time in a decade, as the U.S. While any BOJ rate hike would be some way off, it would underscore a shift in global central banking as the Fed and the European Central Bank...

  • BEIJING, Dec 15- The latest figures of new home loans in China's capital, Beijing, has raised eyebrows again, as their growth rebounded from the previous month despite property curbs to contain sharp price rises, state news agency Xinhua reported on Thursday. New mortgage loans extended by commercial banks in Beijing rose 13 percent in November to 33.9 billion...

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