TORONTO, Feb 25- Royal Bank of Canada, the country's top lender, posted a better-than-expected quarterly profit on Wednesday, driven by significant gains in its personal and commercial banking and capital markets businesses. The results could improve investor sentiment towards Canadian banks, which took a hit after Bank of Montreal, Canada's fourth-largest...» Read More
DUBAI, Feb 3- Cash-rich Gulf banks are becoming bigger players in the region's aviation boom, helping carriers like Emirates, Qatar Airways and Etihad Airways to fund their fleet expansion. Figures from European planemaker Airbus show that 47 percent of its aircraft deals in the Middle East in the first 11 months of last year were funded by local banks, up from 17...
A bid by China to rein in its "shadow banking" activity is producing results, thanks to slowing economic growth and tighter regulation.
SHANGHAI/ BEIJING, Nov 24- A bid by China to rein in its "shadow banking" activity is producing results, thanks to slowing economic growth and tighter regulation. But some success for a policy drive to curb risky lending is not all good news for Beijing, as smaller companies may face even bigger struggles to find funding. A cut in interest rates, announced by Beijing on...
If so, and all else being equal, downward pressure on the euro may mount at a time when the European Central Bank, struggling to avoid a third recession since 2008, will find this quite useful. One of the big stories of the past 15 years has been the huge growth of global central bank forex reserves, particularly in China, which went from having very little at the end of...
*JPMorgan falls, Citigroup climbs after results. Citigroup, up 3.2 percent to $51.48, was among the top boosts to the benchmark S&P index after the bank posted better-than-expected quarterly results and said it would pull out of consumer banking in 11 markets. But JPMorgan Chase shares lost 1.1 percent to $57.54, after the biggest U.S. bank posted third-quarter...
*JPMorgan falls, Citigroup climbs after results. Citigroup, up 3.2 percent to $51.48, was the biggest boost to the benchmark S&P index after the bank posted better-than-expected quarterly results and said it would pull out of consumer banking in 11 markets. But JPMorgan Chase shares lost 0.9 percent to $57.61, after the biggest U.S. bank posted third-quarter...
Oct 1- Pacific Investment Management Co suffered a record $23.5 billion of withdrawals from its flagship Pimco Total Return Fund in September, with its largest daily outflow occurring on the day of Bill Gross's surprise resignation from the firm. The Newport Beach, Calif.- based fund manager said the Pimco Total Return Fund, which was run by Gross for 27 years, is "...
TORONTO, Sept 29- TMX Group Ltd named Lou Eccleston as its new chief executive officer, the Toronto Stock Exchange operator said on Monday, after a lengthy global search to replace retiring CEO Tom Kloet. Eccleston left McGraw Hill Financial in July. Eccleston has also previously worked at Thomson Reuters Corp predecessor Thomson Financial, and at Bloomberg LP.
WASHINGTON, Sept 28- Richard Fisher, president of the Dallas Federal Reserve Bank, said the United States risks falling behind the curve on inflation as wage pressure starts to bubble in some parts of the country.
*Reinsurers in Monte Carlo for Sept. 13-17 conference. "I am disappointed, exasperated, and even rather appalled by what is happening in the market," said Nikolaus von Bomhard, chief executive of the world's biggest reinsurer, Munich Re.
A consumer-oriented rating agency, Weiss Rating, recently awarded the companies a median grade of C-minus, and even without a major storm to drive up claims, 11 of them have already failed in Florida since 2006, according to state records. "Things are moving in the right direction for Florida in attracting private capital.
LONDON, Sept 10- Some European banks being checked by regulators for signs of capital weakness may be sitting on up to a trillion dollars of potentially unsafe assets because their holdings of sovereign bonds are not being fully risk assessed, a new study has found.
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