Alan C. Greenberg, the Wall Street legend behind Bear Stearns' during its rise and collapse during the recession, is dead at 86. NYT reports.» Read More
*Athens says 3- year bond to be issued soon. ATHENS/ LONDON, July 9- Greece said on Wednesday it has hired banks for a new three-year euro bond, the aid-reliant nation's second debt sale since returning to financial markets in April.
*Dollar reverses earlier strength, falls against euro. NEW YORK, July 9- The U.S. dollar fell against the euro on Wednesday as investors awaited the release of minutes from the Federal Reserve's June meeting for any indications of how soon the U.S. central bank will raise interest rates.
NEW YORK, July 9- The U.S. dollar rose slightly against most major currencies on Wednesday as investors awaited the release of minutes from the Federal Reserve's June meeting for any indications of how soon the U.S. central bank will increase interest rates.
Citigroup is may pay about $7 billion to fix a probe into whether it defrauded investors on billions of dollars worth of mortgage securities.
If there is any kind of loan growth bank stocks have a tailwind, says Thomas Digenan, UBS, revealing where he is placing his bets in the markets.
LONDON, July 9- The euro was steady against the dollar on Wednesday, with traders looking to a speech by European Central Bank chief Mario Draghi and minutes of the U.S. "Its really been very quiet," said Daragh Maher, a strategist with HSBC on Monday.
FRANKFURT/ PARIS, July 9- The European Central Bank is hoping a new round of long-term loans will be used by banks to drive down borrowing costs- a substitute for an asset-purchase scheme of its own which would avert a potentially damaging internal split. "It's also the liquidity injection, the funding substitution," he told Reuters in Paris on Wednesday.
LONDON, July 9- Gold prices firmed on Wednesday, climbing back above $1,320 an ounce, as fresh inflows into bullion-backed funds indicated rising investor confidence the metal ahead of the release of the latest Federal Reserve minutes.
BERLIN, July 9- Germany's cabinet has approved a package of draft laws which effectively give the go-ahead to Europe's plans for banking union- its main confidence-building response to the crisis in the financial sector, a government source said on Wednesday.
*Board meets July 14-15, decision seen July 15 0330-0500 GMT. TOKYO, July 9- The Bank of Japan may trim its economic growth forecast for the current year next week, sources familiar with its thinking said, reflecting soft exports and a bigger-than-expected slump in household spending after a sales tax hike in April.
LONDON, July 9- The euro traded marginally stronger on Wednesday, with traders looking to a speech by European Central Bank chief Mario Draghi and the minutes of the U.S. "Its really been very quiet," said Daragh Maher, a strategist with HSBC on Monday.
*Tencent has biggest fall in over a month after U.S. tech shares fall. HONG KONG, July 9- Hong Kong shares fell on Wednesday after U.S. stocks skidded, with Internet giant Tencent the biggest drag, while Chinese markets were knocked off three-week highs as banks fell. The China Enterprises Index of the top Chinese listings in Hong Kong fell 1.1 percent.
Citigroup is expected to pay more than $4 billion to settle the probe, according to a Dow Jones report that cites sources.
Below are key facts and a timeline concerning development of China's yuan payments system. NOVEMBER 2005- China's central bank announces the expansion of the yuan banking business in Hong Kong.
WASHINGTON, July 8- Federal Reserve Chair Janet Yellen will go before Congress next week to deliver the U.S. central bank's latest report on monetary policy, congressional officials said on Tuesday. Yellen will appear before the Senate Banking Committee at 10 a.m. EDT on July 15, the Senate committee said.
NEW YORK, July 8- A federal judge has denied Wells Fargo's latest bid to end a lawsuit brought by the Los Angeles city government accusing the bank of discriminatory lending that led to a wave of foreclosures among minority borrowers.
FED'S YELLEN TO TESTIFY ON MONETARY POLICY BEFORE SENATE BANKING COMMITTEE ON JULY 15, COMMITTEE SAYS.
FRANKFURT, July 8- U.S. authorities have begun settlement talks with Germany's Commerzbank and Deutsche Bank over their dealings with countries blacklisted by the United States, extending a crackdown on European banks at a delicate point in U.S.-German relations. Deutsche Bank and Commerzbank declined to comment.
July 8- Deutsche Bank AG's head of corporate banking and securities for North America, Jeffrey Mayer, is leaving to join Cerberus Capital Management LP, Bloomberg said, citing two people briefed on the matter. Mayer's replacement may be internal or external, Bloomberg reported, citing two of the people with knowledge of situation.
SINGAPORE, July 8- Singapore sovereign investor Temasek Holdings wants to increase its holdings in China's financial services and technology sectors, banking on the long-term growth prospects of the world's second largest economy.
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