A U.S. district court in Manhattan has ruled that Bank of America must pay the U.S. government $1.27 billion in a Countrywide "hustle" fraud.» Read More
*Twitter shares rally a day after results. Among the biggest positives were bank shares, with the S&P financial index up 0.4 percent, helping to support the S&P 500. Shares of Wells Fargo gained 1.1 percent to $52.10.
NEW YORK, July 30- The U.S. dollar pared gains against a basket of major currencies on Wednesday after a Federal Reserve statement disappointed expectations that the central bank would take a more hawkish bias on monetary policy.
NEW YORK— U.S. stocks are closing mixed after the Federal Reserve said the economy was strengthening enough for the central bank to continue cutting its stimulus. Bond yields rose Wednesday after the government reported that the U.S. economy grew at a robust annual rate of 4 percent this spring. Genworth Financial sank 14 percent and Goodyear fell 8 percent.
NEW YORK, July 30- The S&P 500 ended nearly flat on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.
NEW YORK, July 30- The S&P 500 was near flat on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.
*Central bank reaffirms no rush to raise interest rates. NEW YORK/ LONDON, July 30- Gold futures ended lower on Wednesday, but traders largely shrugged off a statement from the Federal Reserve hinting the U.S. central bank was in no rush to hike interest rates, which would reduce appetite for the precious metal.
NEW YORK, July 30- The S&P 500 turned higher while the Dow pared losses on Wednesday after the Federal Reserve raised its assessment of the U.S. economy while reiterating it is in no hurry to increase interest rates. Shares of Wells Fargo gained 1.4 percent to $52.26.
*The central bank cut its monthly asset purchases to $25 billion from $35 billion, leaving it on course to shutter the program this fall. KIM RUPERT, MANAGING DIRECTOR AT ACTION ECONOMICS IN SAN FRANCISCO:. OMER ESINER, CHIEF MARKET STRATEGIST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON:.
NEW YORK, July 30- Last-ditch efforts by Argentina's local banking association Adeba to act as a white knight in talks with creditors has raised hopes the country can avoid a second default in 13 years. By having banks satisfy such claims instead of Argentina, the government may find away around the so-called RUFO clause.
WASHINGTON, July 30- The Federal Reserve on Wednesday pressed ahead with its plan to wind down its bond-buying stimulus and upgraded its assessment of the U.S. economy, while reaffirming it is in no rush to raise interest rates. The central bank cut its monthly asset purchases to $25 billion from $35 billion, leaving it on course to shutter the program this fall.
*Flows of Russian wealth to Singapore rising. *Banks in Singapore are clamping down on who they let in. New sanctions imposed by Washington and Europe over the Ukraine crisis have prompted firms such as VTB- Russia's second-largest bank by assets- and Gazprombank to look east for new sources of funding.
*Twitter rallies after blockbuster results. NEW YORK, July 30- U.S. stocks were flat on Wednesday, paring earlier gains as a strong read on second-quarter economic growth sparked concerns the Federal Reserve may adjust its stimulus earlier than expected.
LONDON, July 30- Gold fell on Wednesday, pressured by a multi-month high in the dollar following stronger-than-expected U.S. economic growth data and ahead of a Federal Reserve statement that could give hints on interest rate policy. Spot gold, flat initially, fell 0.3 percent to $1,295.20 an ounce by 1452 GMT, after breaking below $1,300 in the previous session.
LONDON, July 30- Miscreant bankers face having their bonuses clawed back for up to seven years after their award under measures set out on Wednesday by the Bank of England, as it tightens its regulatory clampdown on wrongdoing in the financial sector.
WASHINGTON, July 30- The U.S. House of Representatives Financial Services Committee narrowly approved a bill on Wednesday that would require the Federal Reserve to set a specific rule to follow when implementing monetary policy. Even if it were approved by the Republican-led House, there is no sign the Democrat-controlled Senate would take it up.
BUENOS AIRES, July 30- A consortium of Argentine banks is set to offer to buy out the country's debt held by holdout investors suing Argentina, in an eleventh-hour deal aimed at averting a default, a senior banking executive familiar with the offer told Reuters on Wednesday.
*UK Bank Rate seen at 1.25 pct end-2015, 2.25 pct end-2016. LONDON, July 30- It could be as soon as next week that the first member of the Bank of England's Monetary Policy Committee votes to increase interest rates but it will be early 2015 before a majority agrees, a Reuters poll found on Wednesday.
July 30- Banks are likely to take up three-quarters of the 400 billion euros of cheap loans on offer from the European Central Bank in coming months, a Reuters poll found, although few expect an ensuing surge in bank lending to companies any time soon. We are less convinced, "wrote Paul Mortimer-Lee, global head of market economics at BNP Paribas.
*Mobile money faces obstacles to growth outside Kenya,. DAKAR, July 30- IT technician Mansour Diagne is one of the lucky few in Senegal to have a bank account, but when he needs to pay some bills or transfer cash to his sisters on the other side of the crowded capital Dakar, he reaches for his mobile phone.
ARGENTINE BANKS TO OFFER TO BUY DEBT OWNED BY HOLDOUT INVESTORS SUING COUNTRY IN BID TO AVERT DEFAULT- BANKING EXECUTIVE.
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