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Finance Banks

  • WASHINGTON, March 28- A U.S. bank regulator has flunked Wells Fargo on a national scorecard for community lending, the lender said on Tuesday as it tries to repair its reputation after a phony-accounts scandal. Wells Fargo was deemed a bank that "needs to improve" under the Community Reinvestment Act, a law meant to promote lending to poor neighborhoods.

  • WASHINGTON— Federal Reserve Chair Janet Yellen said Tuesday that U.S. banks must do all they can to promote economic development in low-income areas where high unemployment has persisted despite the overall job market's significant gains. Yellen told community development groups that banks are needed not just to provide home mortgages in low- and...

  • Whalen: Financials are badly overpriced

    Christopher Whalen, Whalen Global Advisors, weighs in on the recent pullback in financials.

  • *Wall Street shares up as banks gain. NEW YORK, March 28- Stocks recovered on Tuesday as investors chose to look beyond U.S. Advancing shares in Asia and Europe helped boost the MSCI's all-country world equity index, which hit a near-two-week low on Monday.

  • Harvard professor: It's the combination of capital and liquidity regulation that needs to be re-examined

    Harvard Law School professor Hal Scott, weighs in on financial deregulation, stress tests and banking regulation.

  • NEW YORK, March 28- The dollar steadied broadly on Tuesday, hovering above 4- month lows, as a general risk-off mood in currency markets offset comments from Federal Reserve officials that suggested the U.S. central bank was poised to continue its rate-hike cycle. "Youre seeing risk reduction... but youre also seeing a flight to quality," said Douglas Borthwick,...

  • *Two of China's Big Five post near-flat annual profit growth. SHANGHAI, March 28- Two of China's' Big Five' lenders, Bank of Communications and Agricultural Bank of China, reported modest annual profit growth on Tuesday, as they battled operating pressures and the narrowest net interest margins since at least 2011.. The pressure on assets will be strong this year...

  • *White House says to lead efforts on tax reforms. March 28- U.S. stock struggled for direction on Tuesday as investors chose to look beyond President Donald Trump's first major policy setback, while awaiting comments from several Federal Reserve officials, including Fed Chair Janet Yellen. The White House later said it would lead the role in reforming the U.S. tax...

  • Bernard Madoff

    Charles Murphy's Fairfield Greenwich fund had invested $7 billion with Madoff before it became known that Madoff was running a Ponzi scheme.

  • *White House says to lead efforts on tax reforms. March 28- U.S. stocks looked set to open slightly lower on Tuesday as investors assessed President Donald Trump's first major policy stumble, while awaiting comments from several Federal Reserve officials, including Fed Chair Janet Yellen. The White House said late Monday it would take a lead role in crafting...

  • LONDON, March 28- The dollar steadied on Tuesday after its worst week since U.S. The yen, which has gained 4 percent in nine days as faith erodes in the Trump White House's ability to deliver tax reform and a promised public spending boost, was flat at 110.74 yen per dollar. Analysts pointed to support from appearances by Dallas Federal Reserve Bank President Robert...

  • banking system

    Four in five bankers believe AI will "revolutionise" the way in which banks gather information as well as how they interact with their clients.

  • MOSCOW, March 28- Russia's central bank wants banks to use most of their profits to support capital levels, so that they can increase lending, Governor Elvira Nabiullina said on Tuesday. "It's very important that in general the banking system has recovered from the shocks of 2014-2015 in time for this moment," she told a meeting of the Association of Russian Banks.

  • British pound coin introduced in March 2017

    The U.K.’s new £1 coin has been dubbed the “most secure” in the world by the Royal Mint, which released the updated tender Tuesday.

  • LONDON, March 28- Barclays is in exclusive talks to sell its stake in its Zimbabwe unit to Malawi- based First Merchant Bank, the lenders said on Tuesday, as the British bank continues its exit from Africa. First Merchant Bank said in a statement on its website it was in exclusive talks to buy out the 68 percent of Barclays Bank of Zimbabwe owned by the British company.

  • MOSCOW, March 28- The lion's share of the Russian banking sector's profit should be directed towards banks' capital, central bank governor Elvira Nabiullina said on Tuesday.

  • LONDON, March 28- The dollar steadied on Tuesday after its worst week since U.S. The yen, which has gained 4 percent in nine days as faith in the Trump White House's ability to deliver tax reform and a promised public spending boost, was flat at 110.74 yen per dollar. Analysts pointed to support from appearances by Dallas Federal Reserve Bank President Robert Kaplan...

  • MOSCOW, March 28- Russian central bank governor Elvira Nabiullina said Tuesday that there are grounds to increase lending in Russia.

  • SHANGHAI, March 28- China stocks fell on Tuesday on concerns about tightening liquidity conditions after the central bank refrained from injecting short-term funds into the banking system for the third session in a row. The People's Bank of China skipped open market operations again on Tuesday, saying liquidity levels in the banking system were "appropriate"...

  • :The DBS Group Holdings Ltd. logo is displayed atop the company's DBS Asia Hub building in Singapore, on Thursday, Feb. 9, 2012.

    After two years of flat growth in earnings, 2017 is the year Asian banks will see a turnaround in earnings per share and credit quality, JPMorgan said.

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