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  • Federal Reserve took a swipe on Tuesday at unlawful and unethical behavior at banks, saying it raises questions over whether the values embedded on Wall Street have improved enough in recent years. While other Fed officials and bank regulators have complained about the ethics and culture on Wall Street, the stern comments from the country's top financial...

  • LONDON, March 4- Standard Chartered has no plans to tap shareholders for cash, it said on Wednesday, despite reporting a 25 percent drop in profits last year on the back of soaring bad loans. The Asia- focused bank said it would not take "knee-jerk actions" and vowed instead to cut costs and shrink its loan book in an effort to quell concerns about its capital strength,...

  • LUXEMBOURG— A European Union high court has handed Britain and its London financial hub a victory by ruling against a European Central Bank decision that would have forced financial institutions clearing trades in euros to be based in the eurozone. Britain is part of the EU but doesn't use the euro. London is Europe's predominant financial center and the ECB's...

  • According to two sources with direct knowledge of the matter and another who had been briefed by police, the police last month froze one account at Industrial and Commercial Bank of China and another at Bank of China, both held in Shanghai by Trafigura Private Limited, a Singapore unit. Trafigura will be anxious to avoid any disruption to its business in Shanghai,...

  • MUMBAI, March 4- India's central bank unexpectedly lowered its policy rate for the second time this year on Wednesday, backing a government that is pushing to revive economic growth as inflation cools. "Given low capacity utilisation and still-weak indicators of production and credit off-take, it is appropriate for the Reserve Bank to be pre-emptive in its...

  • NEW DELHI— India's central bank on Wednesday unexpectedly cut a key interest rate by a quarter percentage point, the second such reduction this year as the bank lends support to government efforts to boost economic growth. But India's inflation rate has fallen substantially in recent months as global oil prices have dropped sharply. India's Prime Minister...

  • SHANGHAI, March 4- China's central bank has cut the interest rate on its short-term lending facility for its local branches and nearly tripled the funds available under the programme, in its latest bid to bring down financing costs, sources told Reuters on Wednesday. The overall SLF quota will be increased by 220 billion yuan to 340 billion yuan, the sources added.

  • DIARY-Top Economic Events to March 17 Wednesday, 4 Mar 2015 | 12:01 AM ET

    LAKE FOREST, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and monetary policy before the Lake Forest-Lake Bluff Rotary Club 2015 Economic Breakfast- 1400 GMT. KANSAS CITY, United States- Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy at an event hosted by...

  • TOKYO, March 4- The dollar held firm near an 11- year high versus a basket of major currencies on Wednesday, as investors awaited U.S. economic data and a European Central Bank meeting later this week for fresh clues on policy direction. On Tuesday it had touched a high of 95.570, its strongest level since September 2003. Against the yen, the dollar held steady at...

  • *Bank of Canada seen holding policy steady. TOKYO, March 4- Asian shares and the dollar eased on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.2...

  • WASHINGTON— The Federal Reserve has worked hard to correct the mistakes exposed by the 2008 financial crisis, Fed Chair Janet Yellen said Tuesday. Yellen's remarks came in a speech in New York to the Citizens Budget Commission. Copies of the speech were made available in Washington.

  • TOKYO, March 4- The dollar hovered below an 11- year high versus a basket of major currencies on Wednesday, as investors awaited U.S. economic data and a European Central Bank meeting later this week for fresh direction clues. The dollar index last stood at 95.355, having backed off slightly from Tuesday's high of 95.570, its strongest level since September 2003.

  • WASHINGTON, March 3- The Senate Banking Committee on Tuesday launched its effort to pursue reforms at the Federal Reserve, with the central bank's regional structure among the topics that came into the panel's cross-hairs. This month, outgoing Dallas Fed President Richard Fisher said the Fed should revamp its rules to address perceptions of conflicts of...

  • WASHINGTON, March 3- U.S. automakers have written to Federal Reserve Chair Janet Yellen to say the U.S. central bank need not worry about the impact of adding currency rules to trade deals. Yellen warned Congress last week against a bid to crack down on currency cheats and said adding currency rules to trade deals could hobble monetary policy.

  • NEW YORK, March 3- The dollar touched an 11- year high against a composite of major currencies on Tuesday but gave up those gains ahead of major U.S. economic reports and the coming European Central Bank meeting later this week. The U.S. dollar index of a half dozen currencies traded against the greenback was last off 0.06 percent at 95.407 after peaking at 95.570, a...

  • March 3- Bank of Nova Scotia posted a lower-than-expected quarterly profit on Tuesday, hurt by an increase in credit-loss provisions and higher expenses, and its shares fell 1.4 percent. The results at Scotiabank, Canada's No. 3 lender, round out a mixed quarter for the country's big banks. Royal Bank of Canada and Canadian Imperial Bank of Commerce topped profit...

  • WASHINGTON, March 3- The chairman of the U.S. Senate Banking Committee said on Tuesday that the Federal Reserve is not immune from congressional oversight. Senator Richard Shelby said at a Fed reform committee hearing on Tuesday that the panel will explore reforming the Fed system, as the Alabama Republican and other lawmakers add pressure to the U.S. central...

  • WASHINGTON— The world's central banks are injecting a new complication into the Federal Reserve's decision on when to raise interest rates from record lows:. Last weekend, China's central bank slashed key rates for a second time in three months to try to stimulate the slowing Chinese economy. That move followed the European Central Bank's decision in January...

  • March 3- Bank of Nova Scotia posted a lower-than-expected quarterly profit on Tuesday, hurt by an increase in credit-loss provisions and higher expenses, sending its shares down about 1.6 percent. The results at Scotiabank, Canada's No. 3 lender, round out a mixed quarter for the country's big banks, with Royal Bank of Canada and Canadian Imperial Bank of Commerce...

  • A warning from Buffett about banks Tuesday, 3 Mar 2015 | 8:54 AM ET
    Warren Buffett

    Warren Buffett's annual letter strongly criticized the financial industry, who took notice of his warnings, the NYT reports.

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