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Finance Banks

  • LISBON, Feb 20- The Bank of Portugal will hold a final round of exclusive negotiations with U.S. private equity firm Lone Star as it seeks to flesh out the terms of the potential sale of state-rescued lender Novo Banco, the central bank said on Monday. Olivier Brahin, president of Lone Star for Europe, said in a separate statement his firm was "committed to confirming a...

  • LONDON, Feb 20- Gold held steady on Monday as traders awaited further clues on the pace of U.S. interest rate rises from a group of Federal Reserve officials due to speak this week. Spot gold was at $1,236.01 an ounce at 1230 GMT,. little changed from $1,235.22 on Friday, while U.S. gold futures for April delivery were down 0.2 percent at $1,237.10.

  • LISBON, Portugal— Portugal's central bank says it has picked U.S. private equity firm Lone Star for exclusive final negotiations on its bid to buy Novo Banco, the so-called good bank salvaged by the Portuguese government from the collapse of major lender Banco Espirito Santo. The Bank of Portugal said Monday the negotiations aimed to finalize the terms of a sale...

  • LONDON, Feb 20- Gold held steady on Monday after ending the previous week little changed, as traders awaited further clues on the pace of U.S. interest rate rises from a raft of Federal Reserve officials due to speak this week. Spot gold was at $1,235.21 an ounce at 1030 GMT,. "It's still wait and see for the gold market right now," UBS analyst Joni Teves said.

  • DUBAI, Feb 20- Rania Nashar was named chief executive of Samba Financial Group on Monday, becoming the first female CEO of a listed Saudi commercial bank in line with the government's economic and social reforms. Women, banned from driving in Saudi Arabia and subject to a system of male guardianship, hold few top posts in the financial sector.

  • KEEPING SCORE: Japan's benchmark Nikkei 225 index lost 0.1 percent to 19,207.30 and South Korea's Kospi dipped 0.1 percent to 2,078.08. Also due this week: a German business confidence index on Tuesday, U.S. new home sales on Friday and earnings from big companies such as British bank HSBC. ANALYST VIEW: "Asian markets look set for a soft start to the week with a lack...

  • SINGAPORE, Feb 20- Cleveland Federal Reserve President Loretta Mester said on Monday she would be comfortable raising interest rates at this point if the economy maintained its current pace of performance. In a speech in Singapore, Mester, seen as one of the more hawkish Fed officials, said the economy was on a "sound footing". Those have passed through and the trend...

  • 'Happy days' for China markets: Expert

    Francis Lun, CEO of GEO Securities, says financials have been underpinning the markets in Hong Kong.

  • SINGAPORE, Feb 20- Cleveland Federal Reserve President Loretta Mester said on Monday she would be comfortable raising interest rates at this point if the economy kept performing the way it did. Those have passed through and the trend in inflation is, it's moving up, "Mester said at a central banking seminar in Singapore. Fed Chair Janet Yellen said last week that...

  • SINGAPORE, Feb 20- The U.S. economy is on "sound footing," a hawkish Federal Reserve official said on Monday in a speech that cautioned against asking the central bank to solve problems beyond its control such as low productivity growth. Cleveland Fed President Loretta Mester, at a forum in Singapore, did not comment specifically on interest rates.

  • STOCKHOLM- Swedish Central Bank Deputy Governor Cecilia Skingsley will talk on electronic payment forms of the future at a lunch meeting arranged by the Royal Swedish Academy of Engineering Sciences- 1100 GMT. BOISE, United States- Federal Reserve Bank of San Francisco President John Williams speaks on "Getting to Know the Fed" before Boise State University...

  • STOCKHOLM- Swedish Central Bank Deputy Governor Cecilia Skingsley will talk on electronic payment forms of the future at a lunch meeting arranged by the Royal Swedish Academy of Engineering Sciences- 1100 GMT. BOISE, United States- Federal Reserve Bank of San Francisco President John Williams speaks on "Getting to Know the Fed" before Boise State University...

  • ULAANBAATAR, Mongolia— The Mongolian government and envoys from the International Monetary Fund said Sunday that they and other partners have agreed on terms for a more than $5 billion loan package to the north Asian country to help get its economy back on track. The Asian Development Bank, World Bank, Japan and South Korea are together expected to provide up to...

  • Exit mass exit

    The trickle toward indexes has turned into a flood, with more than half a trillion dollars heading into passive funds over the past year.

  • Feb 17- Citigroup Inc's board of directors cut Chief Executive Officer Michael Corbat's compensation by 6 percent last year after the bank missed financial targets and one-third of its voting shareholders disapproved of his prior pay package. Corbat received $15.5 million in total compensation, including a base salary of $1.5 million, a $4.2 million cash...

  • STOCKHOLM- Swedish Central Bank Deputy Governor Cecilia Skingsley will talk on electronic payment forms of the future at a lunch meeting arranged by the Royal Swedish Academy of Engineering Sciences- 1100 GMT. BOISE, United States- Federal Reserve Bank of San Francisco President John Williams speaks on "Getting to Know the Fed" before Boise State University...

  • STOCKHOLM- Swedish Central Bank Deputy Governor Cecilia Skingsley will talk on electronic payment forms of the future at a lunch meeting arranged by the Royal Swedish Academy of Engineering Sciences- 1100 GMT. BOISE, United States- Federal Reserve Bank of San Francisco President John Williams speaks on "Getting to Know the Fed" before Boise State University...

  • George Soros, billionaire and founder of Soros Fund Management LLC,

    The billionaire's short positions came in the form of puts, or options to sell, on two exchange-traded funds that track market indexes.

  • NEW YORK— Customers are still turning their backs on Wells Fargo after a scandal over sales practices, with the bank saying Friday the number of new checking accounts people opened was down 31 percent in January from a year earlier. Wells Fargo has been releasing monthly reports on these figures since the outcry over its sales practices as a sort of "report card" on...

  • "After factoring in day count differences and typical seasonality, trends were relatively stable in January and within our expectations," Mary Mack, who took over leadership of Wells Fargo's branch banking unit last year, said in a press release. Wells Fargo has been reporting monthly on customer activity in its branch banking unit ever since the bank was rocked...

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