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  • *Shake Shack hits record on trademark filing. May 21- U.S. stocks rose in afternoon trading on Thursday, with the S&P 500 just shy of its record high and the Nasdaq crossing its record close, as disappointing economic data bolstered the view that an interest rate hike would come only later in the year. Federal Reserve officials all but ruled out a rate hike next month...

  • *Deutsche Bank reshuffles management board ahead of investor vote. FRANKFURT, May 21- Deutsche Bank boosted the power of co-chief executive Anshu Jain in a management shakeup, but shareholders criticised the moves as insufficient and demanded more changes to restore confidence in the leadership of Germany's largest bank. Deutsche Bank has trailed rivals...

  • WASHINGTON, May 21- The Senate Banking Committee passed a bill on Thursday that proposes changes to the Federal Reserve and seeks regulatory relief for small to medium-sized banks, though with no Democrats on board, the legislation faces slim chances of success. With a majority on the committee, Republicans cleared the Financial Regulatory Improvement Act of...

  • WASHINGTON, May 21- The Republican-controlled U.S. Senate Banking Committee voted down efforts by the panel's Democrats on Thursday to narrow the scope of a financial regulatory reform bill that aims to give relief to smaller banks and financial firms. In a 12-10 vote, the committee declined to accept the Democrats' alternative proposal.

  • *PMIs point to 0.4 pct euro zone growth in Q2- Markit. LONDON/ NEW YORK, May 21- U.S. and euro zone business growth slowed in May while China's factory sector contracted again, reinforcing the need for major central banks to continue supporting economic growth. Growth in euro zone business activity also weakened in May, just two months after the European Central Bank...

  • First Libor defendant faces jury trial in London Thursday, 21 May 2015 | 10:30 AM ET

    *Former trader Hayes to go on trial in London. LONDON, May 21- Tom Hayes, a former star trader at UBS and Citigroup, will next Tuesday become the first person to face trial by jury over allegations he conspired to rig global Libor interest rates when his case begins in London. The trial marks a new phase in a seven-year, global inquiry that has culminated in banks and...

  • NEW DELHI, May 21- India's central bank is working to liberalize its foreign exchange rules to make it easier to do business with Asia's third-largest economy, Deputy Governor H.R. Khan said on Thursday, a step that could support flagging exports. "We have got a positive response from the RBI and it could soon issue directions to banks," said S.C. Ralhan, president of...

  • LONDON, May 21- The past year's sharp oil price fall may have a longer-lasting effect on British inflation than the Bank of England assumes, but the central bank would be wise to look through such one-off effects, a BoE policymaker said on Thursday. Martin Weale, who last year voted in vain for the central bank to start to raise interest rates, said the BoE's Monetary...

  • *Deutsche Bank reshuffles management board. *Rainer Neske, retail chief and others to depart. FRANKFURT, May 21- Deutsche Bank boosted the power of co-chief executive Anshu Jain in a management shakeup, but shareholders dismissed the moves as insufficient and demanded more changes to restore confidence in the leadership of Germany's largest bank.

  • May 21- U.S. stock index futures were slightly lower on Thursday, a day after minutes from the latest Federal Reserve meeting bolstered expectations that interest rates would stay near zero until later this year. The jobless claims data is due at 8:30 a.m. ET. *Data measuring the growth in the U.S. manufacturing sector in May is due at 9:45 a.m. ET and 15 minutes...

  • *Britain says has no power to enforce the rules. LONDON, May 21- Banks should provide customers with the means to create one-off passwords from August to make buying over the Internet safer, European Union banking regulators said on Thursday. The European Banking Authority announced details of its plans over the coming years to make e-commerce safer, breaking...

  • SHANGHAI, May 21- China could fully liberalise its interest rate regime as early as July and almost certainly by the year-end, according to money market traders gearing up for the change. "July is a window because it will be the second anniversary of China's liberalisation of its loan rates in July 2013," he said. But banks' response to the change was muted, with China's...

  • Deutsche shakes up leadership but investors object Thursday, 21 May 2015 | 11:42 AM ET

    Deutsche Bank reshuffled its management board late on Wednesday, consolidating restructuring authority under co-Chief Executive Anshu Jain.

  • WASHINGTON, May 20 (Reuters)- Federal Reserve officials believed it would be premature to hike interest rates in June even though most felt the U.S. economy was set to rebound from a dismal start to the year, according to minutes from their April policy meeting released on Wednesday. They also cited economic worries in China and Greece. They also were troubled by the...

  • DIARY- Top Economic Events to June 3 Wednesday, 20 May 2015 | 8:01 PM ET

    SINTRA, Portugal- European Central Bank forum on central banking. Speakers:- ECB President Mario Draghi and board member Peter Praet, IMF Economic Counsellor Olivier Blanchard, BoE Governor Mark Carney, Central Bank of Mexico Governor Agustin Carstens, Central Bank of Ireland Governor Patrick Honohan, Organisation for Economic Co-operation and Development...

  • As Fed plays waiting game, buy selectively: Pro   Wednesday, 20 May 2015 | 6:18 PM ET
    Fed impact on equities

    Jeremy Hill, managing director at Old Blackheath Companies, discusses the minutes from the last Fed meeting and explains why U.S. retail stocks look attractive at the moment.

  • Bank punishment 'won't change anything': Lawyer Wednesday, 20 May 2015 | 5:31 PM ET

    Punishments leveled on international banks involved in foreign exchange rate manipulation "won't change anything," an attorney said.

  • LONDON, May 20- The European Central Bank said on Wednesday it would stop providing journalists embargoed copies of its speeches, as a storm grew over one of its top policymakers giving hedge funds a head start on market-sensitive information. On Monday, ECB Executive Board member Benoit Coeure gave a speech to an invitation-only dinner of fund managers,...

  • What's today's $5 billion banking settlement about? Wednesday, 20 May 2015 | 5:07 PM ET

    Traders at four banks— JPMorgan Chase, Citigroup's banking unit Citicorp, Barclays and the Royal Bank of Scotland— conspired to fix rates on U.S. dollars and euros at the expense of clients from 2007 to 2013. Another bank, Switzerland's UBS, agreed to plead guilty to manipulating key interest rates and will pay a separate criminal penalty. In a hypothetical...

  • How to cool housing hot spots, Down-Under style Wednesday, 20 May 2015 | 5:00 PM ET

    The Reserve Bank of New Zealand is by far the boldest of the regulators, taking the radical approach of targeting only the Auckland housing market with restrictions on loan sizes and tougher capital requirements for lenders. The urgency is understandable given New Zealand's household debt is a stratospheric 160 percent of disposable income, near record...

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