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  • European authorities aim to purge weak banks Thursday, 23 Oct 2014 | 6:22 AM ET

    FRANKFURT, Germany— Europe's biggest banks are facing a day of judgment as the European Central Bank prepares to unveil the results of a yearlong search through the dark corners of their finances. It's a step that comes none too soon for the struggling economy of the 18- country eurozone. The ECB becomes Europe's top banking supervisor in November, taking over...

  • *ECB bank test results due at 1100 GMT Sunday. LONDON/ FRANKFURT, Oct 23- At around noon on Thursday, the euro zone's 130 biggest banks will receive the European Central Bank's final verdict on their finances after a review aimed at drawing a line under persistent doubts about the health of the region's banking sector. They will not be made public until 1100 GMT on...

  • Credit Suisse Q3 profit more than doubles Thursday, 23 Oct 2014 | 2:05 AM ET

    GENEVA— Credit Suisse's profits more than doubled in the third quarter as Switzerland's second-largest bank benefited from cost cutting, brisk business in emerging markets and the services it provides for wealthy clients. The Zurich- based bank pleaded guilty in May to aiding U.S. tax evaders and agreed to pay about $2.6 billion to the U.S. government and...

  • TOKYO, Oct 23- Japanese investors may increasingly shift funds overseas as U.S. and British central banks prepare the ground to raise interest rates even as the Bank of Japan maintains its ultra-loose monetary policy, BOJ board member Sayuri Shirai said. But there are no signs that the BOJ's "quantitative and qualitative easing" is creating financial...

  • SHANGHAI/ HONG KONG, Oct 23- Squeezed between cut-throat competition from online financing firms and rising funding costs, China's midsize banks are falling out of investors' favour as they increasingly lag behind the country's top five lenders. China's five biggest banks are Industrial and Commercial Bank of China Ltd, China Construction Bank Corp,...

  • TOKYO, Oct 23- The dollar steadied on Thursday, hovering near a one-week high versus the euro, supported by a slight rise in Treasury yields following news of an uptick in U.S. inflation. Concerns over the health of the European banking sector also weighed on the euro and underpinned the dollar after media reported that 11 euro zone banks had failed stress tests run...

  • BofA: Sorry for double charging on Apple Pay Wednesday, 22 Oct 2014 | 4:10 PM ET
    Apple Pay on display.

    Some Bank of America customers say they were charged twice for purchases they made using Apple's new mobile payments system.

  • WASHINGTON, Oct 22- U.S. securities regulators adopted a rule on Wednesday designed to avert another financial crisis, but two officials dissented, saying it did not do enough to discourage banks from lending to borrowers with shaky credit and then passing the mortgage risk to investors. The Securities and Exchange Commission approved the so-called "risk...

  • Sept CPI slightly above forecast, gives dollar added boost. NEW YORK, Oct 22- The U.S. dollar extended broad-based gains on Wednesday after marginally higher-than-expected U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro. The sharp drop in U.S. yields last week was driven by fears of a...

  • EDINBURGH, Oct 22- European shares nudged higher on Wednesday, supported by a raft of positive corporate earnings and mild inflation data from the United States which may encourage the U.S. However, the session was volatile, with euro zone banks under pressure after Spain's Efe news agency reported that several European lenders might fail EU bank stress tests.

  • MIDEAST STOCKS-Markets rally further on solid Q3 results Wednesday, 22 Oct 2014 | 10:17 AM ET

    *Qatar's Doha Bank disappoints investors. DUBAI, Oct 22- Most stock markets in the Middle East continued to recover from last week's sharp declines on Wednesday thanks to generally strong third-quarter earnings and a supportive global environment. Dubai's bourse rose 2.3 percent, largely on the back of lenders Emirates NBD and Dubai Islamic Bank, both of which...

  • Asia stocks down on mixed China data, weak Wall St Wednesday, 22 Oct 2014 | 1:28 AM ET

    NEW YORK— Stocks fell broadly on Wednesday, snapping a four-day winning streak for the Standard& Poor's 500 index, as investors shaken by recent swings in the market sold some of their holdings. "The market is still nervous," said John Manley, chief equity strategist at Wells Fargo Funds Management. Stocks were higher most of the morning on hopes that the European...

  • LONDON, Oct 22- Sterling and the euro suffered in another choppy day on currency markets on Wednesday, the single currency trading briefly below $1.27 for the first time in a week after a news report that raised concerns over European banks. That followed a Reuters report on Tuesday that the European Central Bank was looking at buying corporate bonds to add to the...

  • *One named bank- Austria's Erste- denies report. MADRID/ VIENNA, Oct 22- The European Central Bank cautioned on Wednesday against speculation over the outcome of its stress tests after a media report said at least 11 banks had failed the landmark financial health checks, driving some banking shares lower. Austria's Erste Group rejected the report from Spanish...

  • LONDON, Oct 22- European shares slipped and the euro hit a one-week low on Wednesday as reports that at least 11 banks could fail a region-wide financial health check this weekend offset hopes of corporate bond buying by the ECB. Spanish news agency Efe cited several unidentified sources saying three banks in Greece, three Italian lenders, two Austrian banks, as...

  • *ABB, Husqvarna rally after positive results. The STOXX Europe 600 euro zone bank index recovered to trade just 0.2 percent lower, however, with Spain's economy minister saying he was confident Spanish lenders would do well in the European Central Bank's checks, and Austria's Erste Bank denying it was among those that had failed the test. Erste Bank was down 1.6...

  • LONDON, Oct 22- Most Bank of England policymakers are firmly against raising interest rates, seeing little evidence of inflation pressures while the slowing euro zone poses growing risks, minutes of their latest meeting showed. The majority of the Bank's rate-setters saw good reasons to keep rates at their record low of 0.5 percent at their Oct. 7-8 meeting,...

  • ECB cools speculation over bank health checks Wednesday, 22 Oct 2014 | 9:30 AM ET

    ECB cautions against speculation over the outcome of its stress tests after a report on failed health checks.

  • Erste Group says confident on stress test outcome Wednesday, 22 Oct 2014 | 4:52 AM ET

    VIENNA, Oct 22- Austria's Erste Group Bank has no reason to believe it will fail a stress test of major euro zone lenders based on the conversations it has had so far with supervisory officials, it said on Wednesday. "Out of the supervisory dialogue we have no indication we won't pass," a spokesman said. Central bank Governor Ewald Nowotny had said last week that most...

  • *BoE minutes eyed for UK interest rate clues. LONDON, Oct 22- The euro hit a one-week low against the dollar on Wednesday following a Reuters report that the European Central Bank was considering buying corporate bonds, highlighting the diverging policy outlooks for the euro zone and the United States. Fresh ECB easing could restore the interest rate gap between...

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