Christopher Wolfe, MD, Financial Institutions at Fitch Ratings says that the top 5 banking giants in the U.S. are well insulated to prevent a repeat of 2008 financial crisis.» Read More
TOKYO, June 18- Asian shares eased on Tuesday as investors waited for Federal Reserve Chairman Ben Bernanke to clarify the U.S. central bank's plans for its stimulus programme- with the mere suggestion of fine-tuning it enough to unnerve market sentiment.
SHANGHAI, June 18- China's yuan fell on Tuesday after the People's Bank of China set a lower-than-expected midpoint, generating talk that authorities may intend to guide the currency weaker in the near term, dealers said. The People's Bank of China fixed its midpoint at 6.1651 per dollar on Tuesday, 0.09 percent weaker than Monday's record high.
*'Big Four' China banks lackluster despite higher state stakes. HONG KONG, June 18- Hong Kong shares slipped after two days of gains with investors selling recent outperformers and turnover low as global markets brace for this week's U.S.
WASHINGTON, June 17- President Barack Obama hinted in an interview aired on Monday that he may be looking for a new chief of the U.S. Federal Reserve Bank, saying current Chairman Ben Bernanke has stayed a lot longer than he had originally planned.
*Market keeps an eye on standoff over Syria. SINGAPORE, June 18- Brent crude futures were barely changed around $105, holding not far off their strongest level in 10 weeks on mounting tensions in the Middle East, as investors remain cautious ahead of a Federal Reserve meeting.
SINGAPORE, June 18- Gold was little changed on Tuesday as investors awaited guidance from a Federal Reserve meeting on the outlook for the bank's stimulus programme, amid some strong U.S. economic data. *Spot gold was near steady, easing $0.40 to $1,383.95 an ounce by 0018 GMT. *U.S. gold also marked time, rising $0.40 to $1,383.5.
NEW YORK, June 17- U.S. stocks pared earlier gains in afternoon trading on Monday as investors focused on this week's meeting of the Federal Reserve and what light it may shed on the path of monetary policy. The Dow Jones industrial average was up 69.49 points, or 0.46 percent, at 15,139.67. The Nasdaq Composite Index gained 20.00 points, or 0.58 percent, to 3,443.56.
*Netflix, DreamWorks jump after content deal. *Terex shares tumble after guidance update. NEW YORK, June 17- U.S. stocks rose 1 percent on Monday as investors speculated the Federal Reserve will reaffirm its commitment to supporting the economic recovery when it meets this week.
Missouri residents soon could turn to their hometown banks for a quick cash advance under legislation that could allow traditional financial institutions to compete with the payday lenders that proliferate across the state.
BERNE, June 17- The European Union official in charge of tax policy tried to persuade Switzerland on Monday to agree to surrender more information about clients of its big banking industry as part of a drive to combat tax evasion. "Switzerland can gain from a stronger tax agreement with the EU with automatic exchange of information at its core.
*OTP, Magyar Telekom stocks lead losses on stock market. BUDAPEST, June 17- Hungary's government raised taxes on the mostly foreign-owned financial and telecoms sectors on Monday to plug budget holes but also rattling investors who have already experienced three years of unpredictable policies.
*Co-op Bank to be listed on London Stock Exchange. LONDON, June 17- Britain's Co-operative Group has agreed a plan to plug a 1.5 billion pound capital hole at its bank which forces bondholders to pay part of the bill, avoiding a repeat of the taxpayer-funded bailouts staged during the financial crisis.
LONDON, June 17- The Co-operative Group said on Monday that it had agreed a plan with Britain's financial regulator to plug a capital shortfall of 1.5 billion pounds at its banking unit. Co-op said it agreed a comprehensive plan to generate capital and provide stability for the Co-operative Bank.
SINGAPORE, June 17- London copper rose more than one percent on Monday, following its steepest weekly decline in two months last week, as shorts covered ahead of this week's key Federal Reserve meeting that should provide greater clarity on monetary policy.
Singapore's central bank censured a record 20 banks on Friday after it found more than 100 traders in the city state tried to rig key borrowing and currency rates.
A top U.S. banking regulator called Deutsche Bank's capital levels "horrible" and said it is the worst on a list of global banks based on one measurement of leverage ratios.
June 15- When the heads of the World Bank and the United Nations flew into the violence-wracked African city of Goma on a cloudy day last month, it was the first time the giants of international development had joined forces in the struggle to help the world's most fragile regions. World Bank President Jim Yong Kim and U.N.
NEW YORK, June 14- Stock investors eager to hear from the Federal Reserve about its plans for continuing economic stimulus may get some soothing words from the U.S. central bank next week.
NEW YORK, June 14- U.S. stocks fell on Friday and the dollar finished its worst week in almost four years against the yen as investors worried that major central banks may soon start withdrawing stimulus and after data showed a decline in U.S. consumer sentiment. That helped boost the MSCI world index 0.1 percent on the day.
Supporting that view, a Wall Street Journal report on Thursday said a change in the Fed's bond-buying does not mean that the U.S. central bank would end the purchases "all at once" or that the Fed was "anywhere near raising short-term interest rates."