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  • SYDNEY, May 7- National Australia Bank, the country's top lender by assets, on Thursday said it plans to raise A $5.5 billion in a rights issue as it looks to demerge and float its troubled British unit by the end of the year. NAB's UK business, which includes Yorkshire and Clydesdale bank branches, has been a persistent thorn in its side, with charges for bad and...

  • NEW DELHI, May 7- Indian Prime Minister Narendra Modi sank his finance minister's plans to strip powers from the central bank last week, sources told Reuters, evidence of a new-found respect for the bank's governor and a recognition that Modi needs his calming influence on markets. When Modi came to power just under a year ago, the position of central bank boss...

  • NEW YORK— U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates. A comment from Federal Reserve Chair Janet Yellen suggesting that stocks are generally overvalued added to the selling pressure. "There are creeping worries that inflation, which was seen as non-existent, will soon...

  • Federal Reserve Chair Janet Yellen warned of high valuations, adding to anxiety about future interest rates and a global bond rout. Atlanta Federal Reserve bank president Dennis Lockhart said he still expects it will be appropriate to raise interest rates some time in the middle of the year, and that market expectations of a September increase were in "...

  • Federal Reserve Chair Janet Yellen warned of high valuations, adding to anxiety about future interest rates and a global bond rout. Atlanta Federal Reserve bank president Dennis Lockhart said he still expects it will be appropriate to raise interest rates some time in the middle of the year, and that market expectations of a September increase were in "...

  • Lending Club jumps as online lending continues to grow Wednesday, 6 May 2015 | 2:00 PM ET

    Shares of Lending Club advanced 3 percent Wednesday after the company reported better-than-expected results and raised its full-year outlook as more people discover peer-to-peer lending as a cheaper alternative to a traditional bank. It's a positive bit of good news for a company whose the stock is down nearly 30 percent year to date as investors wait to...

  • WASHINGTON, May 6- The chairman of the Senate Banking Committee is pushing ahead with a bill to ease rules across sections of the financial industry after the first round of efforts to work with his Democratic counterpart failed. The bill could also seek to ease regulations on regional banks such as Comerica Inc and insurers such as Allstate Corp and curb the...

  • *HSBC, Standard Chartered fear further tax hike. LONDON, May 6- Lack of a clear winner in Britain's national election on Thursday is likely to impact the appetite of businesses to borrow, senior bankers told Reuters. Both the Conservative Party, which has led a coalition government with the Liberal Democrats for the past five years, and the opposition Labour Party...

  • BUCHAREST, May 6- Romania's central bank surprised markets by shaving another quarter point off its benchmark interest rate to a new record low on Wednesday, as a cut in value added tax next month should keep inflation near zero. Most analysts had expected Romania's central bank to end its rate cutting cycle at 2 percent, and that monetary policy would continue to...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said high equity valuations could pose potential dangers but that stability risks across the U.S. financial system remained in check. "I would highlight that equity market valuations at this point generally are quite high," Yellen said. Yellen's view on the run-up in stocks was an answer to...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said the central bank is prepared to take further action to make the financial system safer, in a warning to the banking industry and non-bank lenders. In prepared remarks at the " Finance and Society" conference held at the International Monetary Fund, Yellen outlined the contributions of the...

  • Fed Chair Yellen says stock market prices 'quite high' Wednesday, 6 May 2015 | 9:16 AM ET

    WASHINGTON— Federal Reserve Chair Janet Yellen on Wednesday described stock market valuations as high and said the central bank was carefully monitoring their impact on financial stability. "I would highlight that equity market valuations at this point generally are quite high," Yellen said in conversation with Christine Lagarde, managing director of the...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said the central bank is prepared to take further action to make the financial system safer. In prepared remarks at the International Monetary Fund, Yellen outlined the contributions of the banking system to society and the economy. But Yellen quickly turned her speech to the distorted system...

  • YELLEN SAYS RAPID GROWTH OF SHADOW BANKING LEFT SIGNIFICANT GAPS IN REGULATION.

  • ECB set to decide on increasing Greek bank lifeline Wednesday, 6 May 2015 | 5:09 AM ET

    FRANKFURT, May 6- The European Central Bank's Governing Council on Wednesday may nudge up the amount of Emergency Liquidity Assistance teetering Greek banks can borrow, as Athens struggles to avert a potentially catastrophic funding crunch. On Wednesday, Athens sells 875 million euros of six-month Treasury bills to refinance a maturing issue and a 200...

  • SYDNEY, May 6- A golden era of record profits and lush dividends is coming to an end for Australia's major banks, with disappointing results this week revealing a new normal of more modest earnings growth due to tougher capital requirements and a sluggish economy. Having doubled annual profits over the past five years, Australia's banks are now set to post low...

  • SocGen CEO: Russia is now normalizing Wednesday, 6 May 2015 | 2:54 AM ET
    Societe Generale SA headquarters stand in Paris, France

    French bank Societe Generale reported a hike in its first-quarter net income thanks to a smaller hit from its struggling Russian unit.

  • Australian banks' golden run over as growth plateaus Wednesday, 6 May 2015 | 1:10 AM ET

    SYDNEY, May 6- A golden era of record profits and lush dividends is coming to an end for Australia's major banks, with disappointing results this week revealing a new normal of more modest earnings growth due to tougher capital requirements and a sluggish economy. Having doubled annual profits over the past five years, Australia's banks are now set to post low...

  • Why HSBC is not moving back to Hong Kong   Tuesday, 5 May 2015 | 11:32 PM ET
    Why HSBC is not moving back to Hong Kong

    Stuart Leckie, chairman at Stirling Finance, explains why it is difficult to imagine HSBC relocating its headquarters back to Hong Kong.

  • DIARY- Top Economic Events to May 18 Tuesday, 5 May 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve Chair Janet Yellen and International Monetary Fund Managing Director Christine Lagarde participate in " Finance and Society" conversation before the Institute for New Economic Thinking Conference on Finance and Society hosted by the IMF- 1315 GMT. WASHINGTON- Federal Reserve Bank of Kansas City President Esther George...

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