• MOSCOW, March 13- Russia's second-biggest bank, VTB, expects significant losses this year if crippling central bank interest rates are not lowered, a senior bank official said on Friday. State-controlled VTB, along with larger rival Sberbank, is under Western sanctions imposed over Moscow's role in the Ukraine conflict. Russia's central bank cut its main...

  • MOSCOW, March 13- Russia's Central Bank Governor Elvira Nabiullina said on Friday that recent economic data showed the balance of risks remains skewed towards an economic slowdown. Nabiullina told a press conference that the bank expects a rapid economic recovery only in 2017 when gross domestic product growth may exceed 6 percent, after falling some...

  • LONDON, March 13- Copper slipped from 10- day highs on Wednesday as the dollar regained its poise, though losses were limited by falls in mine output this year and as traders bet that easier lending could improve demand from top consumer China. Copper, however, received support from Chinese data showing that the country's banks extended 1.02 trillion yuan of new...

  • UPDATE 1-Russia c.bank says cuts key rate to 14 pct Friday, 13 Mar 2015 | 7:06 AM ET

    *Cut was second since start of year. MOSCOW, March 13- The Russian central bank cut its main lending rate on Friday, for the second time this year, putting concerns about the declining economy before worries about high inflation. At 1050 GMT it was at 61.37 against the dollar, down around 0.3 percent on the day, having been down around 0.5 percent before the rate cut.

  • Russia c.bank says cuts key rate to 14 pct Friday, 13 Mar 2015 | 6:35 AM ET

    RUSSIA C.BANK SAYS CUTS KEY RATE TO 14 PCT@. MOSCOW, March 13- The Russian central bank cut its main lending rate on Friday, for the second time this year, putting concerns about the slumping economy before worries about high inflation. The bank reduced its one-week minimum auction repo rate by one point to 14 percent, continuing an easing cycle that began in January...

  • Russia cuts key interest rate to 14 percent   Friday, 13 Mar 2015 | 6:30 AM ET
    Russia cuts key interest rate to 14 percent

    The Russian central bank has cut its key rate by 100 basis points. Dan Salter, head of equity strategy at Renaissance Capital, says the move was justified.

  • What's shaking up Russia's economy?   Friday, 13 Mar 2015 | 6:30 AM ET
    What's shaking up Russia's economy?

    Dan Salter, head of equity strategy at Renaissance Capital, says there are two shocks hitting Russia's economy: credit and oil.

  • MOSCOW, March 13- Russian bank VTB said on Friday it made a profit of just 0.8 billion roubles in 2014, implying it made its first quarterly loss since 2009 in the fourth quarter as sanctions and an economic downturn weighed. VTB, along with larger rival Sberbank, is a dominant player in Russia's banking sector and is under Western sanctions imposed over Russia's...

  • MOSCOW, March 13- Russia's second-largest bank VTB on Friday reported net profit of 0.8 billion roubles for the whole of last year. Its earnings were hurt by higher loan-loss provisions, which jumped to 275.4 billion roubles last year, and increased funding costs. A Reuters poll of analysts predicted the bank would post a net loss of 2.6 billion roubles for 2014....

  • MOSCOW, March 13- The Russian rouble traded slightly weaker against the dollar in early trade on Friday, ahead of a central bank monetary policy meeting at which the bank is expected to cut its main rate. "All eyes are on the Central Bank of Russia," analysts at VTB Capital wrote in a note. Rates in Russia are far higher than those in the West.

  • Oil helps Asian central banks stray from Fed's shadow Friday, 13 Mar 2015 | 12:16 AM ET

    But now, even with a U.S. rate rise looming, central banks in the region, including those in Singapore, China, India and Indonesia, have on eight occasions this year announced unexpected easing measures. Thailand and South Korea joined in with surprise rate cuts this week, and most of the central banks, including China's, have also been either guiding or permitting...

  • US to UK: Stop accommodating China Thursday, 12 Mar 2015 | 8:04 PM ET

    The White House accused the UK of a "constant accommodation" of China after the British government decided to join a large China-led financial institution. The Financial Times reports.

  • Buy these financial stocks: Analysts Thursday, 12 Mar 2015 | 5:56 PM ET
    A sign is displayed outside Citigroup Center in New York.

    For investors looking to get into financial stocks after the latest stress test, there are certain names that stand out, two analysts said.

  • March 12- Turkey is an object lesson in the dangers of political interference in monetary policy, made much worse when it is based on the economic equivalent of trying to repeal the law of gravity. Turkey's President Tayyip Erdogan, who seems to think high interest rates cause high inflation rather than the other way round, met with Central Bank Governor Erdem...

  • March 12- U.S. stocks closed up on Thursday, bouncing back from two days of losses, helped by a weaker dollar and a rally in banking shares.

  • Commerzbank to pay $1.45B, fire workers in US deal Thursday, 12 Mar 2015 | 1:22 PM ET
    Benjamin Lawsky, Superintendent of the New York State Department of Financial Services.

    U.S. officials say Commerzbank carried out transactions with U.S.-sanctioned entities in Iran and Sudan.

  • OTTAWA, March 12- Do not count on the Bank of Canada to match possible interest rate hikes by the U.S. Economist Rhys Mendes told the House of Commons finance committee the Bank of Canada would view a Fed rate hike as a sign the U.S. economy is strengthening, which would be good for Canada. The bank targets inflation in Canada and decisions regarding monetary policy in...

  • Spain's Sabadell bids for TSB: Analyst   Thursday, 12 Mar 2015 | 12:00 PM ET
    Spain's Sabadell bids for TSB: Analyst

    British bank, TSB, has confirmed a £1.7bn approach by the Spanish bank, Sabadell. Filippo Alloatti, senior credit analyst at Hermes Investment Management, discusses further.


  • The broadsides from the two closely-aligned Northern European bankers underline that while the European Central Bank's bond-purchasing program has eased tension on financial markets, it has not removed underlying tensions between core Northern and Southern members of Europe's monetary union. Klaas Knot of De Nederlandsche Bank said that France is on...

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