French bank Societe Generale reported a hike in its first-quarter net income thanks to a smaller hit from its struggling Russian unit.» Read More
WEST PALM BEACH, Fla., April 16- Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday he does not think the U.S. central bank needs to wait until all aspects of labor market slack are absorbed before beginning to raise interest rates. "There are people who have dropped out. I would like to see that absorbed, "Lockhart said following a speech to a...
Market strategist tells us where he sees a market correction.
The World Bank is failing to protect the poor and vulnerable people affected by the projects it funds says a new report.
Wall Street and big business's election kingmakers are reaching for their wallets again in the race for President.
The FMHR traders reveal their view of the big banks amid earnings.
LONDON, April 16- European Union regulators will focus this year on whether banks are complying with the bloc's new cap on bonuses, and doing enough to withstand cyber attacks and prevent misconduct. Several banks have topped up pay with "allowances" to help soften the cap's impact, a step the European Banking Authority has said breaks EU law in many cases.
BOSTON, April 16- Ben Bernanke, the former Federal Reserve chairman and one of the world's most closely watched economic thinkers, is joining one of the most successful hedge funds as an advisor, Citadel LLC said in a statement on Thursday. Last month former Federal Reserve Board governor Jeremy Stein joined BlueMountain as an advisor and Bernanke's...
Eric Wasserstrom, Guggenheim Partners, breaks down the areas where banks are improving profits, and provides his outlook on financials for the next several quarters.
The turnaround in big banks is going on as expected, says Gerard Cassidy, RBC Capital Markets, breaking down Citigroup's quarterly results.
By Taro Fuse and Ritsuko Ando. TOKYO, April 16- Japan's Sharp Corp clinched a $1.7 billion bailout deal from its banks in return for a promise to cut 5,000 jobs and split off its ailing smartphone display unit, a person familiar with the deal said on Thursday. As part of its second major bailout in three years, Sharp's lenders, Mizuho Bank and Bank of Tokyo-Mitsubishi...
Citigroup's earnings beat is "the big turnaround story for the large-cap banks," analyst Gerard Cassidy tells CNBC.
Goldman Sachs delivered quarterly earnings that topped analysts' expectations on Thursday.
Christopher Whalen, senior managing director at Kroll Bond Rating Agency, talks about the banking sector and the possibility of a Fed rate hike.
SYDNEY/ DUBAI, April 16- Dubai's drive to develop its Islamic finance sector is fueling growth of sharia-compliant banking but the benefits are unevenly distributed, with some lenders struggling to compete against burgeoning competition. In 2013, Dubai's government announced plans to turn the emirate into a center for an "Islamic economy" with...
Simon Maughan, head of research at OTAS Technologies, says select European banks are offering attractive yields and dividends that set them apart from their continental peers.
TOKYO, April 16- Japan's Sharp Corp and its main banks are set to agree on Thursday to a $1.7 billion rescue and restructuring plan that will likely include a promise to split off its ailing smartphone display business, a person involved in the discussions said. As part of its second major bailout in three years, Sharp's lenders, Mizuho Bank and Bank of...
SHANGHAI, April 16- Nearly five months after the People's Bank of China signalled the start of an easing cycle with its first interest rate cut since 2012, real borrowing rates are finally falling. "Money is cheap again," said Zhang Gang, senior stock analyst at Central Securities in Shanghai, and a senior trader at a big state-owned bank agrees.
Speculation that China will use the AIIB to undermine U.S. power is unlikely as the development bank isn't part of the financial system, says Fraser Howie, managing director at Newedge Singapore.
Michael Pettis, finance professor at Peking University, explains why the reaction from the U.S. over the Asian Infrastructure Investment Bank translates into a victory for China.
TOKYO, April 16- Japan's Sharp Corp and its main banks are to meet on Thursday to agree on a $1.7 billion rescue and restructuring plan for the loss-making electronics maker, a person involved in the discussions said. An agreement between the Osaka- based company and its main lenders, Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ, would be Sharp's second big bailout...
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