Finance Banks

  • BRASILIA, Sept 27- Brazil's central bank expects annual inflation to ease below the government's 4.5 percent target in 2017 after years of hovering well above that goal, leaving the door open for cutting some of the world's highest interest rates as early as October. "The report consolidated the idea that the bank will cut rates in October," said Otavio Luis Leal,...

  • Bank sector weakness drags down European stocks

    CNBC's Seema Mody reports on all the market moving events in Europe today, including a sell-off in European banks.

  • jitters@ NEW YORK, Sept 27- U.S. long-dated Treasury debt yields fell to three-week lows on Tuesday on concerns about ongoing problems at Deutsche Bank, Germany's largest lender, which could delay yet again the timing of the next interest rate hike by the Federal Reserve. Monday's night's U.S. presidential debate between Hillary Clinton and Donald Trump...

  • A statue is seen next to the logo of Germany's Deutsche Bank in Frankfurt, Germany.

    No government rescue for the imperiled German bank appears imminent, even as its shares hit all-time lows Monday.

  • NEW YORK, Sept 27- The U.S. dollar rose against the euro on Tuesday after concerns surrounding Deutsche Bank caused general unease over Europe's banking sector, while the Mexican peso rallied on short-covering after first U.S. presidential debate. "Some of the concerns over the European banking system have caught fire or have come into focus more recently," said...

  • WELLS FARGO LIKELY TO DECIDE ON CLAWBACK BEFORE THURSDAY-. Sept 27- Wells Fargo& Co's board is likely to decide on whether to claw back pay from former retail-banking head Carrie Tolstedt and Chief Executive John Stumpf ahead of a congressional hearing on Thursday, the Wall Street Journal reported. Lawmakers on the U.S. Senate Banking Committee grilled Stumpf...

  • John Stumpf, chief executive officer of Wells Fargo & Co

    Wells Fargo's board is actively considering executive pay clawbacks, reported Dow Jones on Tuesday, citing a source.

  • MOSCOW, Sept 27- Russia needs three to five years to create a robustly operating and well capitalised banking system without criminal activity and misleading accounting, Deputy Central Bank Governor Vasily Pozdyshev said. The clean-up has continued even as rescues of some large banks, such as Uralsib or Vnesheconombank, were conducted when Russia fell into...

  • FRANKFURT, Sept 27- Deutsche Bank shares hit a record low on Tuesday and state-backed lender NordLB scrapped plans for a 500 million euro bond sale, underlining investor concern about the health of the financial industry in Europe's largest economy. The decision by NordLB to shelve the bond issue because of a lack of demand came a day after Deutsche, Germany's...

  • Shares in Deutsche Bank, which faces as much as $14 billion in fines from the U.S. Justice Department, traded at all-time lows on Monday after a report that German Premier Angela Merkel had ruled out state aid. Few expect Deutsche to end up paying a sum close to $14 billion to settle its U.S. ledger over sales of mortgage-backed securities. This is in no small part...

  • U.S. Labor Secretary Thomas Perez

    U.S. Labor Department pledged to conduct a "top-to-bottom" review of all cases the department has received concerning Wells Fargo in recent years.

  • JOHANNESBURG, Sept 27- South Africa's Capitec Bank warned on Tuesday that it was cutting back on lending to cash-strapped consumers from lower income groups as it posted a 19 percent rise in half-year profit on steady growth among more affluent clients. Weak economic growth in South Africa, where Capitec does nearly all of its business, has cost many casual...

  • BEIJING, Sept 27- China's central bank said on Tuesday it has extended a bilateral currency swap agreement with the European Central Bank worth 350 billion yuan, or 45 billion euro.

  • LONDON, Sept 27- European shares bounced back from a one-week low on Tuesday, mirroring gains in Asia where stocks rose after Democrat Hillary Clinton was perceived by financial market participants to be the winner of the first U.S. presidential debate late on Monday. Many investors appear to see Clinton as the preferred candidate, while few are sure what a Trump...

  • Is now the time to buy banks?

    Alan Miller, CIO of SCM Direct, says banks look low value but warns the long-term performance is poor.

  • *Committed investors see payoff from solid Asia returns. SINGAPORE, Sept 23- Having weathered almost two years of volatility spurred by a fickle Federal Reserve, most long-term investors in Asia's emerging markets barely blinked this week as the Fed once again redrew the future path of U.S. interest rates. "The idea that yields are going to be lower for longer is...

  • Pedestrians pass in front of a Bank of America branch in New York City.

    Bank of America is set to cut investment banking jobs in Asia, including some top dealmakers, as a slowdown forces banks to cut costs.

  • Wells Fargo, the United States' third-largest bank by assets, agreed to pay $190 million earlier this month to settle regulatory charges that some of its employees opened as many as 2 million accounts without customers' knowledge, in order to meet sales targets. The lawsuit, which was filed in the U.S. District Court of Northern California, comes nearly a week after...

  • WASHINGTON— A claim from the presidential debate and how it stacks up with the facts:. Under former chairman Ben Bernanke and current chairwoman Janet Yellen, the Fed has attracted controversy by pegging the short-term interest rate it controls to nearly zero for seven years. Bernanke was initially appointed by Republican President George W. Bush, and...

  • Fintech O2O

    Fintech helps to make banking transactions and asset management more efficient and accessible, says Nexchange Chief Strategy Officer Andrew Economos.

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