Shares in troubled Portuguese lender Banco Espirito Santo slumped 50 percent on Thursday, after trading in the stock resumed following poor results.» Read More
NAIROBI, July 31- KCB Bank, Kenya's largest lender by assets, plans to raise funds from international debt markets for lending to the real estate sector, its CEO said after announcing a 16 percent jump in first-half profit.
MANILA, Philippines— The Philippine central bank has raised its key interest rate by a quarter percentage point to counter inflation. The rate the central bank charges commercial banks for overnight borrowing was Thursday raised to 5.75 percent.
LONDON— The part-nationalized Lloyds Banking Group says its six-month net profit more than halved to 699 million pounds after it put aside another 600 million pounds to cover the cost of improperly sold payment protection insurance. The group said Thursday the profit fell from 1.58 billion pounds a year earlier.
Q2 GDP partly offset by mixed Fed views. LONDON, July 31- The dollar held just below a 10- month high against a basket of currencies on Thursday after the Federal Reserve said it was in no rush to raise interest rates, tempering a rally that dates back to early May.
GENEVA— Switzerland's central bank posted a profit Thursday of 16.1 billion Swiss francs for the first half of the year, a big turnaround from its loss of 9 billion francs for 2013..
SHANGHAI, July 31- China's yuan weakened against the dollar on Thursday after the central bank set the daily midpoint at its lowest level since early June. The People's Bank of China set the midpoint rate at 6.1675 per dollar prior to market open, down 0.05 percent from the previous fix.
*Nintendo dives after dismal earnings. TOKYO, July 31- Japan's Nikkei share average rose to a fresh six-month high on Thursday after solid U.S. growth buoyed sentiment and as the weakening yen lifted exporters, while Sumitomo Mitsui Financial Group's earnings boosted the banking sector.
DEAL FOR ARGENTINE COMMERCIAL BANKS TO BUY DEBT FROM HOLDOUT INVESTORS SUING THE COUNTRY FELL THROUGH- BANKING, MARKET SOURCES.
WASHINGTON/ ST. LOUIS, July 30- The United States unveiled on Wednesday a long-delayed rule that would require banks to identify hidden account owners in order to curb money laundering and peer behind shell companies.
*Fed cuts monthly bond buying by $10 billion. *Still focused on "significant" labor market slack. WASHINGTON, July 30- The Federal Reserve on Wednesday reaffirmed it was in no rush to raise interest rates, even as it upgraded its assessment of the U.S. economy and expressed some comfort that inflation was moving up toward its target.
*Twitter shares rally a day after results. Among the biggest positives were bank shares, with the S&P financial index up 0.4 percent, helping to support the S&P 500. Shares of Wells Fargo gained 1.1 percent to $52.10.
NEW YORK, July 30- The U.S. dollar pared gains against a basket of major currencies on Wednesday after a Federal Reserve statement disappointed expectations that the central bank would take a more hawkish bias on monetary policy.
NEW YORK— U.S. stocks are closing mixed after the Federal Reserve said the economy was strengthening enough for the central bank to continue cutting its stimulus. Bond yields rose Wednesday after the government reported that the U.S. economy grew at a robust annual rate of 4 percent this spring. Genworth Financial sank 14 percent and Goodyear fell 8 percent.
NEW YORK, July 30- The S&P 500 ended nearly flat on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.
NEW YORK, July 30- The S&P 500 was near flat on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.
*Central bank reaffirms no rush to raise interest rates. NEW YORK/ LONDON, July 30- Gold futures ended lower on Wednesday, but traders largely shrugged off a statement from the Federal Reserve hinting the U.S. central bank was in no rush to hike interest rates, which would reduce appetite for the precious metal.
NEW YORK, July 30- The S&P 500 turned higher while the Dow pared losses on Wednesday after the Federal Reserve raised its assessment of the U.S. economy while reiterating it is in no hurry to increase interest rates. Shares of Wells Fargo gained 1.4 percent to $52.26.
*The central bank cut its monthly asset purchases to $25 billion from $35 billion, leaving it on course to shutter the program this fall. KIM RUPERT, MANAGING DIRECTOR AT ACTION ECONOMICS IN SAN FRANCISCO:. OMER ESINER, CHIEF MARKET STRATEGIST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON:.
NEW YORK, July 30- Last-ditch efforts by Argentina's local banking association Adeba to act as a white knight in talks with creditors has raised hopes the country can avoid a second default in 13 years. By having banks satisfy such claims instead of Argentina, the government may find away around the so-called RUFO clause.
WASHINGTON, July 30- The Federal Reserve on Wednesday pressed ahead with its plan to wind down its bond-buying stimulus and upgraded its assessment of the U.S. economy, while reaffirming it is in no rush to raise interest rates. The central bank cut its monthly asset purchases to $25 billion from $35 billion, leaving it on course to shutter the program this fall.
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