Cynthia Meng, MD of Hong Kong China Technology, Media and Telecommunications Equity Research at Jefferies, says the new bank taps into the microfinancing market which is under-served currently.» Read More
*Geopolitical tensions support $1,300- an-ounce level. SINGAPORE, July 29- Gold was little changed just above $1,300 an ounce on Tuesday, supported by geopolitical tensions in the Middle East and Ukraine, with investors also focusing on U.S. jobs data and a Federal Reserve policy meeting this week.
SINGAPORE, July 29- Gold was little changed above $1,300 an ounce on Tuesday, supported by geopolitical tensions in the Middle East and Ukraine, with investors waiting for cues from U.S. jobs data and a Federal Reserve policy meeting this week. *Gold, seen as a safe-haven asset, has benefited from tensions between the West and Russia.
NICOSIA, July 28- Bank of Cyprus, the Cypriot lender that recapitalised by seizing its clients' deposits last year, said it had raised 1 billion euros in a private placement on Monday, drawing in investors from the United States and Russia as well as from an EU-controlled bank.
LISBON, July 28- Portugal's central bank said late on Monday that if Banco Espirito Santo posts a loss larger than its existing capital cushion of 2.1 billion euros, a capital increase will be used to guarantee adequate solvency levels.
NICOSIA, Cyprus— Cyprus' largest bank says it has bolstered its capital base by raising 1 billion euros through a private placement of new shares. Bank of Cyprus said in a statement late Monday that the new shares each valued at 0.24 euros went to institutional investors form Europe, North America and Russia.
*Ukraine- Russia tensions, Israel- Palestine cut gold's losses. NEW YORK/ LONDON, July 28- Gold was little changed on Monday as traders and investors awaited the outcome of a Federal Reserve policy meeting, while hazarding a guess on what U.S. jobs numbers for the month might be.
BERLIN— A group of German professors has filed a complaint to the country's highest court against the European Union's plans to create a so-called banking union, a central part of the effort to make the continent's financial system more resilient.
LONDON— Lloyds Banking Group is paying $369 million to U.S. and British authorities to settle allegations it manipulated a key global interest rate.
Lloyds Banking Group agreed to pay fines totaling $370 million to the U.S. and British as part of an interest rate rigging scandal.
CFTC CHARGES LLOYDS BANKING GROUP, LLOYDS BANK WITH MANIPULATION, ATTEMPTED MANIPULATION, AND FALSE REPORTING OF LIBOR.
Kian Abouhossein, banking analyst at JP Morgan, discusses the decline in fixed income revenues for big banks and discusses how they are adjusting their models.
HONG KONG, July 28- Hong Kong's benchmark index finished at its highest level in more than three years on Monday, as Chinese banks jumped after a Reuters report said the country's fifth-biggest bank by assets planned to seek more private investors.
Banks may have repaired their balance sheets but we're still waiting for any notable shift in their culture, according to a market commentator.
Philippe Bodereau, global head of financial research at PIMCO, says the problems associated with Banco Espirito Santo do not threaten the financial stability of euro zone banks.
HONG KONG, July 28- China shares closed at their highest since December on Monday, with gains led by the banking sector after a Reuters report said the country's fifth-biggest bank by assets planned to seek more private investors.
Chris Skinner, CEO of Balatro and director of the Financial Services Club, says bad banking culture has changed but there is still "a long way" to go.
Alex Brummer, author of "Bad Banks: Greed, Incompetence and the Next Global Crisis", says the much-needed change of culture in the banking sector hasn't happened.
David Ellis, Head of Australian Banking Research at Morningstar Australasia, discusses the bank's decision to offload a $1.2 billion portfolio of distressed British loans.
BERLIN, July 27- The European Central Bank supports Germany's Bundesbank in its appeals for higher wage deals in Germany, Der Spiegel magazine quoted ECB Chief Economist Peter Praet as saying on Sunday.
ZURICH, July 26- About 80 of the 106 Swiss banks that signed up for a deal with U.S. tax authorities could be fined less than they had feared for their role in helping wealthy Americans cheat on their taxes, but must widen their cooperation, a Swiss newspaper reported.
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