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  • NEW YORK— The American Bankers Association has hired Rob Nichols, the head of a major Wall Street lobbying group and former Treasury Department official, as its new president and CEO. Nichols currently leads the Financial Services Forum, a small but influential lobbying group whose membership consists solely of the CEOs of the biggest U.S. banks and insurance...

  • OTTAWA, May 27- The Bank of Canada held its key interest rate at 0.75 percent on Wednesday, largely shrugging off a weak U.S. economy in the first quarter, and said solid U.S. growth this quarter should help Canadian exports and business investment. The market had widely expected bank Governor Stephen Poloz to keep the benchmark rate steady, but some analysts had...

  • US bank earnings up 6.9 percent in Q1 Wednesday, 27 May 2015 | 10:35 AM ET

    The data issued Wednesday by the Federal Deposit Insurance Corp. showed "gradual but steady improvement" for the banking industry, FDIC Chairman Martin Gruenberg said at a news conference. The FDIC reported that U.S. banks earned $39.8 billion in the first quarter, up from $37.2 billion a year earlier. The number of banks on the FDIC's confidential "problem list"...

  • OTTAWA, May 27- The Bank of Canada held its key interest rate at 0.75 percent on Wednesday, shrugging off a weak U.S. economy in the first quarter and saying solid U.S. growth this quarter should help Canadian exports and business investment. The market had widely expected bank Governor Stephen Poloz to keep the benchmark rate steady, but some analysts had begun to...

  • ATHENS, May 27- Greek banks have seen deposit outflows accelerate over the past week as fears rise that the euro zone country will default on debt, two banking sources said on Wednesday. The spike follows a steady outflow of money from Greek lenders this year as Athens and its creditors struggle to agree an aid-for-reforms deal before Greece runs out of money.

  • The company's net income attributable to shareholders rose to C $388 million, or C $1.13 per share, in the second quarter ended April 30 from C $345 million, or C $1.01 per share, a year earlier. Excluding items, the Montreal- based lender earned C $1.15 per share, above analysts' average estimate of C $1.12 per share, according to Thomson Reuters I/B/E/S.

  • Goldman tops 2015 City of London bank bonus charts Wednesday, 27 May 2015 | 6:42 AM ET

    LONDON, May 27- Bankers at Goldman Sachs received the highest bonuses in London's banking industry this year but bonuses paid out by the top 10 banks were down overall compared to last year, a survey published on Wednesday showed. Goldman Sachs bankers received an average bonus of 194,000 pounds, some 14 percent more than their peers at second-placed Morgan...

  • US stocks recover from a slump the day before Wednesday, 27 May 2015 | 2:58 AM ET

    Investors remain focused on Greece's debt problems. MERGER APPROVAL: Tobacco companies Lorillard and Reynolds American rose after the Federal Trade Commission gave its tacit approval to the companies' $27.4 billion merger. Lorillard, maker of Newport cigarettes, was up 84 cents, or 1.1 percent, to $72.96.

  • Why Spain's election results may hit its banking sector

    Víctor Echevarría, market and macro analyst for AFI, describes the policies of Spanish parties Podemos and Ciudadanos and what impact they may have on investors.

  • LONDON, May 27- Australian Symon Drake-Brockman is on the front line of a revolution in European finance. The former head of global debt markets at Royal Bank of Scotland now runs Pemberton Asset Management in London's genteel Belgravia, several miles from the "Square Mile" City of London financial district where bankers work. "We operate more like a lender... we are...

  • *Former Fed chief Bernanke says China slowdown necessary. SEOUL, May 27- Former Federal Reserve Chairman Ben Bernanke said that China's economic slowdown should not worry markets as there was no risk of a hard landing, and emphasised that a move to raise U.S. rates should be viewed as a positive sign for the world's largest economy. Bernanke, who participated in an...

  • DIARY- Top Economic Events to June 9 Wednesday, 27 May 2015 | 12:01 AM ET

    Treasury Secretary Jack Lew will participate in a moderated conversation at the London School of Economics and Political Science- 0945 GMT. LONDON- Bank of England's Sarah Breeden: CSFI Roundtable on Bank of England's Procyclicality Working Group SEOUL- Former Federal Reserve Chairman Ben Bernanke to attend a financial forum hosted by Dong-A Ilbo and...

  • MANILA, May 27- Gold held near a two-week trough on Wednesday after sliding almost 2 percent in the previous session as upbeat U.S. economic data strengthened expectation that the Federal Reserve may be on course to raise interest rates this year. Spot gold was little changed at $1,188 an ounce by 0307 GMT. It dropped to $1,185.35 on Tuesday, its weakest since May 12.

  • TOKYO, May 27- Japan's Nikkei share average was marginally higher on Wednesday morning, extending its gains into a ninth day, but gains were limited as U.S. shares languished after upbeat U.S. data fed fears that a rate hike may come earlier than expected. The buoyant data follows Federal Reserve Chair Janet Yellen saying on Friday that the central bank could raise...

  • *Signs of Greek woes spreading to Spain dent risk appetite. TOKYO, May 27- Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece. Taking a lead from Wall Street's slide, MSCI's broadest index of...

  • BATON ROUGE, La., May 26- Policymakers must ensure that financial industry creditors do not expect government bailouts and must be willing to let firms fail in order to restore market discipline, a top Federal Reserve official said on Tuesday. The remarks by Jeffrey Lacker, president of the Richmond Federal Reserve Bank, repeated much of what he has previously...

  • Meet the 'LendingClub of China'   Tuesday, 26 May 2015 | 7:31 PM ET
    Meet the 'LendingClub of China'

    Soul Htite, founder & CEO of Dianrong.com, outlines the opportunities in emerging markets like China and explains why internet companies share a "good relationship" with mainland authorities.

  • TEL AVIV, May 26- When the Federal Reserve raises U.S. interest rates for the first time in nearly a decade, it should weigh the effects on global economies and can expect some bouts of financial market volatility, a top Fed official said on Tuesday. Federal Reserve Vice Chairman Stanley Fischer said in Israel. Fed Chair Janet Yellen last week signaled the U.S....

  • May 26- Four regional Federal Reserve banks continued their unsuccessful efforts to convince the central bank to raise the rate it charges commercial banks for emergency loans, meeting minutes released on Tuesday showed. Ahead of the Fed's April 28-29 policy-setting meeting, directors of the Philadelphia, Kansas City, Cleveland and Dallas Fed banks asked...

  • TEL AVIV, May 26- As the Federal Reserve lays the ground to raise U.S. interest rates for the first time in nearly a decade, it should weigh the effects of its decisions on global economies and expect some bouts of volatility in financial markets, a top Fed official said on Tuesday. Federal Reserve Vice Chairman Stanley Fischer said in Israel. Fed Chair Janet Yellen...

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