Kelly King, BB&T chairman and CEO, reacts to the role mortgage lending played in its weak quarterly report. King says the current yield curve reflects a slow economy.» Read More
LONDON, Nov 12- The dollar rose broadly, hitting a one-month peak against the yen on Tuesday on higher U.S. government bond yields and growing expectations the Federal Reserve will soon scale back monetary stimulus. It faced resistance at 100 yen and at the September peak of 100.62 yen.
Chen Jiahe, Analyst at Cinda Securities tells CNBC's Cash Flow that while change will take a long time, he still likes the China market.
SHANGHAI, Nov 12- China's yuan remained little changed against the dollar on Tuesday after moving in a narrow range, continuing a trend of stability this month guided by the central bank. The People's Bank of China fixed Tuesday's midpoint at 6.1360, or 0.05 percent stronger than the previous at 6.1390.
*Bank of Chongqing also had lacklustre debut. HONG KONG, Nov 12- Shares in Huishang Bank Corp Ltd became the second China bank in just over a week to make a lacklustre Hong Kong debut, underscoring lukewarm investor appetite for the Chinese banking sector despite a likely raft of listings on their way.
But in a new report released on Monday, the World Bank warns that while some services, like low-fee accounts, clearly benefit the poor and small firms, others- such as microcredit, microinsurance, and debt relief- can do more harm than good.
Amid Libor probes big banks are considering banning traders from online chat rooms seen by regulators as venues for collusion and market manipulation.
KHARTOUM, Nov 11- Sudan's central bank has devalued the Sudanese pound by 22.6 percent against the dollar, the second such move in little over a year as the African country struggles with hard currency shortages. Sudan's economy has been in turmoil since South Sudan's secession in 2011 took away of three-quarters of oil production.
CNBC's Kate Kelly reports Wall Street is cracking down on the use of instant messaging and chat rooms on the trading floor.
KHARTOUM, Nov 11- Sudan's central bank has devalued the Sudanese pound by around 30 percent against the dollar, the second such move in little over a year as the African country struggles with hard currency shortages. Sudan's economy has been in turmoil since South Sudan's secession in 2011 took away of three-quarters of oil production.
In both the Libor-rigging scandal and the unfolding foreign exchange-fixing investigations, traders’ use of chat rooms seems to have played a key role.
*Prices hits lowest level since Oct. 17. LONDON, Nov 11- Gold hit three-and-a-half week lows on Monday after a surprise surge in U.S. jobs growth reignited speculation the Federal Reserve could soon start scaling back its monetary stimulus, denting bullion's appeal.
SHANGHAI, Nov 11- China's yuan barely moved against the dollar on Monday after the central bank set a slightly weaker official midpoint and state-owned banks continued buying dollars to curb appreciation pressure, traders said.
SYDNEY/ SINGAPORE, Nov 11- The dollar held near a two-month high against a basket of major currencies on Monday, having staged a broad rally after upbeat U.S. jobs data bolstered the case for the Federal Reserve to scale back stimulus as early as next month.
SYDNEY, Nov 11- The U.S. dollar held near two-month highs against a basket of major currencies early in Asia on Monday, having staged a broad rally after upbeat U.S. jobs data bolstered the case for the Federal Reserve to scale back stimulus as early as next month.
*Central banks increasingly rely on surprise tactics. LONDON, Nov 10- After slashing interest rates to almost nothing and printing trillions of dollars, central banks are becoming increasingly reliant on another policy weapon: sucker punching markets.
Nominated by President Barack Obama to succeed Fed Chairman Ben Bernanke when his term expires in January, Yellen will have to endure plenty of heated anti-Fed rhetoric from Republicans on Thursday, when she appears before the Senate Banking Committee.
Angela Merkel's conservatives and the Social Democrats have struck a deal on the contours of a European banking union.
FRANKFURT, Nov 9- The European Central Bank will house new banking supervision staff in its existing Eurotower building as there is no space for them at its new headquarters, it said on Saturday.
PARIS, Nov 9- The European Central Bank can trim interest rates further and provide the banking system with liquidity, ECB Executive Board member Benoit Coeure said on Saturday after last week's rate cut to a record low.
NEW YORK, Nov 8- The U.S. stock market's rally could be put to the test next week if comments from Federal Reserve officials including Janet Yellen add to views the central bank could be scaling back its stimulus plan sooner rather than later.
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