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Bloomberg's scandal offers uncomfortable lessons in how we do business in a digital era. We're also more tolerant of leaving behind our electronic data, and not calling out missteps.
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MEXICO CITY, May 20- Mexico's banking reform will take two or three years to have an impact on credit and access to financial services, said the chairman of Mexico's largest locally-owned bank, Grupo Financiero Banorte.
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HONG KONG, May 20- Goldman Sachs Group Inc launched the sale of about $1.1 billion worth of Hong Kong- traded shares in Industrial and Commercial Bank of China on Monday, offering its entire remaining stake in the world's biggest bank by market value. The sale would be the final chapter in Goldman's investment alongside clients and employees in China's ICBC.
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Bloomberg's scandal offers uncomfortable lessons in how we do business in a digital era. We're also more tolerant of leaving behind our electronic data, and not calling out missteps.
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Christopher Whalen, Carrington Investment Services, explains why he thinks the job of chairman and CEO should be split.
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Dallas Federal Reserve President Richard Fisher, reveals his outlook on jobs and the U.S. economy.
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Dallas Federal Reserve President Richard Fisher explains the importance of simplifying bank regulations.
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"It's a constant evaluative process," says Dallas Federal Reserve President Richard Fisher, discussing how central bankers are able to gauge the success of its monetary policy.
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"But the boats are still tied to the dock," says Dallas Federal Reserve President Richard Fisher." Adding, "we have not seen the type of robust job creation that we would like to see," discussing Fed's monetary policy.
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Stan Shamu, Market Strategist at IG Markets says the yield play continues to be the dominant theme in Australia as the mining sector goes through a downgrade cycle.
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Goldman Sachs is selling about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, the world's biggest bank.
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SHANGHAI, May 20- China's yuan closed slightly higher on Monday after the central bank surprised the market and fixed the official midpoint almost unchanged despite a rally in the dollar. Spot yuan ended at 6.1389 against the dollar from 6.1419 at Friday's close after the People's Bank of China set the yuan's midpoint at 6.1998, almost flat from 6.1997 on Friday. "
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Portugal's top bankers have called on Europe's leaders to stop "playing with fire" and moderate their stance towards the euro zone periphery, or risk instilling alarm among bank depositors in future, the FT reports.
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SHANGHAI, May 20- China's yuan edged higher on Monday after the central bank surprised the market and fixed the official midpoint almost unchanged despite a rally in the dollar. Spot yuan was trading at 6.1399 against the dollar from 6.1419 at Friday's close after the People's Bank of China set the yuan's midpoint at 6.1998, almost flat from 6.1997 on Friday. "
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Portugal's top bankers have called on Europe's leaders to stop "playing with fire" and moderate their stance towards the euro zone periphery. The Financial Times reports.
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*Macau junkets act as pseudo banks for China capital outflows. ZHUHAI, China/ HONG KONG, May 20- In an underground mall just a stone's throw from China's teeming border with Macau, a row of 30 small shops with identical golden plaques does a brisk, though shadowy trade with mainland Chinese visitors, many of them bound for the gambling hub.
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MADRID, May 19- Many duped savers at Spanish lender Bankia are shunning a state-supervised compensation scheme in favour of expensive lawsuits, prolonging a mis-selling scandal and complicating efforts to restore faith in the banking system.
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France has a special responsibility as a euro zone heavyweight to take deficit cuts seriously, even though its budget deficit is above target, Bundesbank chief Jens Weidmann said in an interview published Sunday.
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Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday for the potential of innovation to lift living standards.
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*Gold at 1- month low as Fed pressured to end US stimulus. Gold fell, touching a 1- month low and closing down for a seventh straight session as the dollar hit its highest levels since 2008 after some Federal Reserve officials said the central bank should end its stimulus for the U.S. economy. Gold was the CRB's biggest loser, falling almost 2 percent.
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Credit Suisse is among the first nanks to de-leverage to meet the demands of today's stricter regulatory environment. Brady Dougan, CEO, Credit Suisse, weighs in on the transition with CNBC's Maria Bartiromo.