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  • *Vodafone shares gain, Richemont slips. European Central Bank President Mario Draghi and Bank of England Governor Mark Carney, along with other central bankers, will be addressing an ECB Forum in Portugal later in the day. Attention will also fall on Federal Reserve Chair Janet Yellen, who is due to speak on the U.S. economic outlook before the Greater Providence...

  • Richemont shares fell 3.4 percent after reporting an 8 percent fall in April sales at constant exchange rates as well as a lower net profit and said trading continued to remain difficult in its big markets of Hong Kong and Macau. European Central Bank President Mario Draghi and Bank of England Governor Mark Carney, along with other central bankers, will be...

  • WASHINGTON, May 21- The U.S. Export-Import Bank moved a step closer to avoiding closure on Thursday as Senate Republican Leader Mitch McConnell agreed to hold a vote on renewing its charter in June. The decision gives Congress a legislative vehicle to start considering the fate of the federal export credit lender, with conservative House of Representatives...

  • House lawmaker issues subpoena to Fed in leak probe Thursday, 21 May 2015 | 6:40 PM ET

    Jeb Hensarling, the Texas Republican who heads the House Financial Services Committee, announced Thursday he had issued a subpoena to the Fed. The Fed inspector general, which is an independent watchdog, and the Justice Department have been investigating the matter. Fed Chair Janet Yellen disclosed earlier this month that she met once in 2012 with Regina...

  • WASHINGTON, May 21- The chairman of a U.S. congressional committee on Thursday subpoenaed Federal Reserve documents and communications related to a 2012 leak of information related to monetary policy, ramping up his attack of the central bank's handling of the case. Republican Jeb Hensarling of Texas, who chairs the U.S. House of Representatives Financial...

  • WASHINGTON, May 21- The U.S. Federal Reserve did an about-face on Thursday and proposed allowing banks to count certain municipal bonds as liquid assets in order to comply with new rules designed to ensure banks can survive a cash crunch. The rule change will not apply only to banks regulated by the Federal Reserve that have $250 billion or more in total...

  • WASHINGTON, May 21- The U.S. House of Representatives Financial Services Committee on Thursday said it issued a subpoena to the Federal Reserve over a 2012 leak of information related to monetary policy.

  • *Rainer Neske, retail chief and others to depart. FRANKFURT, May 21- Deutsche Bank gave more power to co-chief executive Anshu Jain in a management shake-up that was roundly criticised by investors on Thursday who demanded more changes to restore confidence in the leadership of Germany's largest bank. Making Jain directly responsible for cutting Deutsche...

  • May 21- U.S. primary dealers continue to see September as the most likely timing for the Federal Reserve to begin raising interest rates, according to the median response reported in the New York Fed's latest survey. But the latest survey, taken as U.S. central bankers prepared for their April 28-29 policy-setting meeting and published on Thursday, also showed...

  • SAN FRANCISCO, May 21- In Goldman Sachs Group Inc's latest move to bolster its street cred as a cool, tech-savvy bank, the firm held its annual shareholder meeting in its San Francisco headquarters on Thursday. In just the past few weeks, Goldman has hired an executive to build a digital lending platform, co-led a $50 million investment in a bitcoin startup and...

  • WASHINGTON, May 21- The largest overhaul of U.S. financial industry reform since the 2008 crisis hit a roadblock on Thursday, as a regulation relief bill passed a Senate committee with zero Democrats in support. Wall Street dodged a tough provision as Republican Senator David Vitter withdrew his amendments, the most significant being a minimum 10 percent...

  • Fed's Fischer says euro zone survival virtually assured Thursday, 21 May 2015 | 2:00 PM ET

    Federal Reserve Vice Chair Stanley Fischer on Thursday said the euro zone crisis had made the monetary union stronger and proved that the European Central Bank has the ability to carry out effective policy in the region. Even though the crisis is not over, with Greece in particular still struggling and facing a possible debt default, the ECB's actions have "...

  • *Shake Shack hits record on trademark filing. May 21- U.S. stocks rose in afternoon trading on Thursday, with the S&P 500 just shy of its record high and the Nasdaq crossing its record close, as disappointing economic data bolstered the view that an interest rate hike would come only later in the year. Federal Reserve officials all but ruled out a rate hike next month...

  • *Deutsche Bank reshuffles management board ahead of investor vote. FRANKFURT, May 21- Deutsche Bank boosted the power of co-chief executive Anshu Jain in a management shakeup, but shareholders criticised the moves as insufficient and demanded more changes to restore confidence in the leadership of Germany's largest bank. Deutsche Bank has trailed rivals...

  • WASHINGTON, May 21- The Senate Banking Committee passed a bill on Thursday that proposes changes to the Federal Reserve and seeks regulatory relief for small to medium-sized banks, though with no Democrats on board, the legislation faces slim chances of success. With a majority on the committee, Republicans cleared the Financial Regulatory Improvement Act of...

  • WASHINGTON, May 21- The Republican-controlled U.S. Senate Banking Committee voted down efforts by the panel's Democrats on Thursday to narrow the scope of a financial regulatory reform bill that aims to give relief to smaller banks and financial firms. In a 12-10 vote, the committee declined to accept the Democrats' alternative proposal.

  • *PMIs point to 0.4 pct euro zone growth in Q2- Markit. LONDON/ NEW YORK, May 21- U.S. and euro zone business growth slowed in May while China's factory sector contracted again, reinforcing the need for major central banks to continue supporting economic growth. Growth in euro zone business activity also weakened in May, just two months after the European Central Bank...

  • First Libor defendant faces jury trial in London Thursday, 21 May 2015 | 10:30 AM ET

    *Former trader Hayes to go on trial in London. LONDON, May 21- Tom Hayes, a former star trader at UBS and Citigroup, will next Tuesday become the first person to face trial by jury over allegations he conspired to rig global Libor interest rates when his case begins in London. The trial marks a new phase in a seven-year, global inquiry that has culminated in banks and...

  • NEW DELHI, May 21- India's central bank is working to liberalize its foreign exchange rules to make it easier to do business with Asia's third-largest economy, Deputy Governor H.R. Khan said on Thursday, a step that could support flagging exports. "We have got a positive response from the RBI and it could soon issue directions to banks," said S.C. Ralhan, president of...

  • LONDON, May 21- The past year's sharp oil price fall may have a longer-lasting effect on British inflation than the Bank of England assumes, but the central bank would be wise to look through such one-off effects, a BoE policymaker said on Thursday. Martin Weale, who last year voted in vain for the central bank to start to raise interest rates, said the BoE's Monetary...

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