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  • This is squeezing profit growth of Chinese banks   Wednesday, 29 Apr 2015 | 6:36 PM ET
    This is squeezing profit growth of Chinese banks

    Chinese major lenders saw a "definite decline" in first-quarter net profit because of asset deterioration, says Martin Smith, senior markets analyst at East & Partners.

  • *Fed says economy slowdown is transitory. WASHINGTON, April 29- The Federal Reserve downgraded its view of the U.S. labor market and economy on Wednesday in a policy statement that suggested the central bank may have to wait until at least the third quarter to begin raising interest rates. The Fed's statement put in place a meeting-by-meeting approach on the...

  • *Beijing urging banks to support small businesses. BEIJING, April 30- Private entrepreneurs in China are voicing unprecedented criticism of government, encouraged by policies and rhetoric from Beijing emphasising support for the most productive sectors of the economy. In the past two weeks, Premier Li Keqiang has exhorted Chinese banks to cut their fees and...

  • WASHINGTON, April 29- The Federal Reserve has set up a new system for holding press conferences by telephone, increasing the central bank's flexibility to explain an interest rate hike in months when one of its quarterly press sessions is not already scheduled. The U.S. central bank held a conference call with reporters on Wednesday to test the system, a new...

  • *Fed says economy slowdown is transitory. WASHINGTON, April 29- The Federal Reserve downgraded its view of the U.S. labor market and economy on Wednesday in a policy statement that suggested the central bank may have to wait until at least the third quarter to begin raising interest rates. The Fed's statement put in place a meeting-by-meeting approach on the...

  • FOREX-Dollar drops to nine-week low as U.S. GDP weighs Wednesday, 29 Apr 2015 | 3:49 PM ET

    Q1 GDP growth much lower than expected. NEW YORK, April 29- The dollar sank to a nine-week low on Wednesday after data showed the U.S. economy grew much more slowly than expected in the first quarter, reinforcing expectations for a gradual pace of interest rate rises by the Federal Reserve. "The fact that policymakers continue to view the key drivers of the slower...

  • US STOCKS-Wall St cuts losses following Fed statement Wednesday, 29 Apr 2015 | 2:36 PM ET

    April 29- U.S. stocks were down slightly on Wednesday after a Federal Reserve statement pointed to labor and other areas of U.S. economic weakness, suggesting it was in no rush to raise interest rates. The central bank's policy statement puts it on track to begin a meeting-by-meeting approach toward deciding when to raise rates, which would be the first hike since...

  • NEW YORK, April 29- U.S. stocks briefly added to losses on Wednesday following a Federal Reserve statement that pointed to weakness in the labor market and economy in a sign that the central bank is struggling to proceed with plans to raise interest rates this year.

  • Traders keep bets on December for first Fed rate hike Wednesday, 29 Apr 2015 | 2:14 PM ET

    April 29- U.S. short-term interest-rate futures contracts dropped slightly on Wednesday after the Federal Reserve acknowledged a weak start to growth this year, but attributed the slowdown to transitory factors. Traders are betting December will likely mark the start of the Fed's long-anticipated rate-hike cycle, based on CME FedWatch, which tracks rate...

  • WASHINGTON, April 29- The Federal Reserve on Wednesday pointed to weakness in the U.S. labor market and economy, in a sign that the central bank is struggling to proceed with its plans to raise interest rates this year. The Fed's policy statement puts it on track to begin a meeting-by-meeting approach toward deciding when to pull the trigger on its first rate hike...

  • Get ready for more big deals, Wall St execs say Wednesday, 29 Apr 2015 | 12:33 PM ET

    The surge in M&A isn't likely to subside anytime soon, according to two senior bankers from Goldman Sachs and Citigoup.

  • PIMCO HIRES FORMER FEDERAL RESERVE CHAIRMAN BEN BERNANKE AS SENIOR ADVISOR.

  • MOSCOW, April 29- Russia's largest bank Sberbank has seen a 30 percent fall in applications for retail loans compared with a year ago, the bank's deputy chairman said on Wednesday. "If you compare with January the number of applications from people who want loans has increased. If you compare with last year, then they are 30 percent lower, "Alexander Torbakhov told...

  • *Weak economic data complicates Fed rate hike plan. WASHINGTON, April 29- As the Federal Reserve's policy-setting committee wraps up its third meeting of the year, a critical task awaits the U.S. central bank: narrowing the wide gap between how it and the markets view the path of interest rates. Gross domestic product expanded at a 0.2 percent annual rate in the...

  • LONDON, April 29- The euro and German bond yields rose to their highest level in weeks on Wednesday, after data showed that a measure of bank lending across the bloc stopped shrinking in March and consumer inflation expectations rose for the first time this year. The euro traded above $1.10 and the 10- year German bond yield rose as high as 0.25 percent.

  • UPDATE 2-Euro zone lending grows after 3 years in the red Wednesday, 29 Apr 2015 | 7:13 AM ET

    FRANKFURT, April 29- Lending in the euro zone increased for the first time in three years, the European Central Bank said on Wednesday, marking a new chapter in the bloc's recovery after the launch of a massive money-printing programme. Lending across the 19 countries in the currency union rose by 0.1 percent on the year in March, giving hope that Europe, whose...

  • BANGKOK, April 29- Thailand's central bank surprised markets by cutting its key policy rate for a second straight meeting on Wednesday, with policymakers under pressure to revive the stumbling economy. The central bank also announced it would relax curbs on capital movements out of Thailand at a news conference on Thursday, a move aimed at reducing the baht's...

  • *Riksbank holds rates in surprise move, to buy bonds. STOCKHOLM, April 29- Sweden's central bank kept its lending rates on hold on Wednesday after signs of an uptick in inflation and stronger economic growth, surprising markets which had expected a further cut into negative territory. Sweden is battling a deflationary threat just as it enjoys one of Europe's...

  • FRANKFURT, April 29- Deposit outflows from Greek lenders slowed in March, staunching a run of steep declines that had fueled concerns about the country's banking system as it battles to avert a sovereign default. Banks' deposits fell to 145 billion euros from 147.5 bln euros in February, data from the European Central Bank showed on Wednesday.

  • LONDON, April 29- Gold fell on Wednesday, as investors took profits following a two-day rally on soft U.S. economic data that hurt the dollar and lowered expectations for a Federal Reserve rate hike in June. Spot gold fell 0.6 percent to $1,205 an ounce by 0941 GMT. U.S. gold futures for June delivery fell $7.90 an ounce to $1,206.50, after rising to its highest since...

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