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  • LOS ANGELES— PacWest Bancorp is buying Square 1 Financial in a deal valued at about $789 million. Square 1 Financial Inc., based in Durham, North Carolina, is the parent company of Square 1 Bank, and had one banking office in Durham and 12 U.S. loan production offices. Square 1 Bank will merge with Pacific Western Bank, a Los Angeles subsidiary of PacWest Bancorp.

  • China steps up policy easing, India uses fiscal levers. BENGALURU/ SYDNEY, March 2- Global stimulus is swelling, with China cutting interest rates ahead of disappointing factory data and the European Central Bank set to start government bond purchases just as data hints the euro zone economy may be picking up. Central banks from Switzerland to Turkey, Canada and...

  • *Athens may need to issue more T-bills for funding. FRANKFURT, March 2- European Central Bank policymakers decamp to Cyprus on Wednesday wrestling with the uncomfortable fact that they may hold the keys to Greece's continued membership of the euro. With no political appetite for a' transfer union' that could see wealthier countries subsidise Greece, the central...

  • ISTANBUL, March 2- Defending high interest rates is tantamount to treason, Turkish President Tayyip Erdogan warned at the weekend, and said the governor of the central bank and deputy prime minister in charge of the economy needed to "shape up." Deepening a standoff which has rattled investor nerves, Erdogan was quoted on Monday as saying he would hold talks with...

  • LAVROV CALLS ON UKRAINE GOVT TO LIFT' DE FACTO BLOCKADE' OF DONBASS REGION, RESTORE ECONOMIC TIES, PAYMENT OF SOCIAL BENEFITS, BANKING SERVICES AND FREEDOM OF MOVEMENT TO OTHER PARTS OF COUNTRY.

  • *China having trouble guiding real lending rates downward. SHANGHAI, March 2- China's bourses and money markets reacted half-heartedly to a reduction in China's interest rate over the weekend, as analysts said more aggressive easing measures may be needed to shore up investor confidence. A research note by OCBC bank economist Xie Dongming said that the timing...

  • Dealers and analysts in London, where 60 percent of the world's currency trade is done, said the main theme of the next week would be how markets will deal with the launch of outright money-printing by the European Central Bank. It was down just under 0.1 percent against the dollar in early European deals, having sunk to a 5- week low after the People's Bank of China...

  • WASHINGTON, March 2- Janet Yellen's premium on consensus may lead to a Federal Reserve decision the chair hasn't yet endorsed, as a near majority aligns in favor of a possible June interest rate hike. The five members of the Fed's Washington- based board of governors, including Yellen, have spoken less definitively, though governors including Jerome Powell have...

  • *China's rate cut within expectations, partly priced in- analysts. SHANGHAI, March 2- China stocks posted modest gains on Monday after the central bank cut interest rates over the weekend, with some investors expressing disappointment that it didn't cut rates more deeply. "It's not a surprise," said Wu Kan, head of equity trading at investment firm Shanshan Finance...

  • KEEPING SCORE: Japan's Nikkei 225 gained 0.3 percent to 18,847.19 and South Korea's Kospi added 0.2 percent to 1,989.27. Hong Kong's Hang Seng Index rose 0.3 percent to 24,898.25 and the Shanghai Composite Index advanced 0.4 percent to 3,322.23. CHINA RATE CUT: The People's Bank of China cut interest rates for the second time in three months Saturday, reducing...

  • SHANGHAI, March 2- China stocks were up in volatile trade on Monday morning after the country's central bank cut benchmark interest rates over the weekend, with property stocks rising and banking shares giving up early gains. The People's Bank of China cut interest rates for the second time in over three months as the government steps up efforts to support a...

  • LONDON, March 1- More than one in 10 people picked for the top jobs in British finance pull out during a regulatory vetting process which has got tougher since the financial crisis. This increased scrutiny also follows weaknesses in vetting exposed by problems at the Co-Op Bank, where the former chairman, Paul Flowers, was waved through in 2010 despite disclosing...

  • BEIJING, Feb 28- China's central bank cut interest rates on Saturday, just days before the annual meeting of the country's parliament, in the latest effort to support the world's second-largest economy as its momentum slows and deflation risks rise. "The focus of the interest rate cut is to keep real interest rate levels suitable for fundamental trends in...

  • China's central bank cuts rates again to boost economy Saturday, 28 Feb 2015 | 5:46 AM ET

    BEIJING— China's central bank cut interest rates for the second time in three months Saturday, adding to signs the country's leaders are worried the economic slowdown is deepening too sharply. The People's Bank of China announced a rate cut on one-year loans by commercial banks by 0.25 percentage point to 5.35 percent. Last year, China's economic growth fell to...

  • BEIJING, Feb 28- China's central bank said on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 percent. The People's Bank of China said it would further liberalise interest rates and lift the ceiling for the floating range for the saving rate to 1.3 times the benchmark rate. The central bank said it would cut the benchmark saving rate by 25...

  • WASHINGTON— Federal Reserve Chair Janet Yellen met Friday with a group of conservative activists who are unhappy with the way the central bank is conducting its interest-rate policies. Yellen rejected the GOP criticism as unfounded. Representatives of the Heritage Foundation and Cato Institute also participated in the meeting.

  • NEW YORK/ WASHINGTON, Feb 27- Puerto Rico's Doral Bank has failed and a local rival will take over its operations, authorities said on Friday after accidentally releasing the information early and sending shares down 46 percent before trading was halted. The FDIC announced on Friday that the bank had been closed and its banking operations and deposits will be...

  • Shares of the bank plunged 46.3 percent and were then halted on Friday, after the FDIC recalled a press release announcing that the bank was closed. The FDIC said the press release, announcing that it had been appointed as receiver to the bank, had been sent in error. Doral was closed by the Office of the Commissioner of Financial Institutions of Puerto Rico, which...

  • WASHINGTON, Feb 27- The U.S. Federal Deposit Insurance Corporation said on Friday Puerto Rico-based bank Doral Financial Corp was closed, and its business taken over by Banco Popular de Puerto Rico.

  • The FDIC, which is overseeing the shutdown and shift of operations, said Banco Popular will take over eight of Doral's 26 former branches and work with three other banks to operate the other 18 locations on the island. Banco Popular North America will operate Doral's three branches in New York City and Centennial Bank will take over its five branches in Florida.

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