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  • WASHINGTON/ PROVIDENCE, May 22- Federal Reserve Chair Janet Yellen on Friday said she expected the central bank to raise interest rates this year, as the U.S. economy was on course to bounce back from a sluggish first quarter and headwinds at home and abroad waned. In a speech to a business group in Providence, Rhode Island, Yellen said she expected economic data to...

  • WASHINGTON— Federal Reserve Chair Janet Yellen said Friday she expects to begin raising interest rates later this year— if the job market improves and the Fed is confident inflation will climb closer toward its target rate. The Fed has kept its key benchmark rate at a record low near zero since December 2008. "I think it will be appropriate at some point this year to...

  • WASHINGTON/ PROVIDENCE, May 22- Federal Reserve Chair Janet Yellen on Friday said she expected the central bank to raise rates this year as the U.S. economy was on course to bounce back from a sluggish first quarter and as headwinds at home and abroad begin to wane. Yellen, in prepared remarks for a speech in Rhode Island, said she expected economic data to strengthen,...

  • MANCHESTER, N.H./ WASHINGTON, May 22- Hillary Clinton on Friday will voice strong support for keeping the U.S. Export-Import Bank open and accuse conservative Republicans who want to close the export-promoting lender of destroying jobs, her campaign said. The government export credit agency, which helps finance foreign purchases of U.S.-made products, has...

  • WASHINGTON, May 22- Rising shelter and medical care costs boosted underlying U.S. inflation pressures in April, a welcome sign for the Federal Reserve as it contemplates raising interest rates this year. The Labor Department said on Friday its Consumer Price Index, excluding food and energy, increased 0.3 percent last month. "It will give the Fed greater...

  • AXA axes 500 mln euros of coal investments Friday, 22 May 2015 | 11:43 AM ET

    PARIS, May 22- French insurer AXA said on Friday it was cutting its exposure to the coal industry, pulling out of investments worth 500 million euros. Bank of America said earlier this month it was cutting back its lending to the coal industry, while French bank Societe Generale said it was restricting its exposure to the sector. However oil major Royal Dutch...

  • LONDON, May 22- French bank BNP Paribas is reviewing its global markets business in London in an attempt to cut costs and improve its profitability, a person familiar with the matter said on Friday. BNP Paribas has about 4,100 staff in its corporate and institutional banking business in Britain. Efinancial News earlier reported BNP Paribas' rates and fixed...

  • NEW YORK, May 22- Global equity markets dipped modestly Friday but remained near record highs, while the yield on U.S. government debt rose as a gain in core consumer prices in April should keep the Federal Reserve on course to raise interest rates later this year. Fed Chair Janet Yellen is expected to acknowledge recent sluggishness in the U.S. economy, including a...

  • *Core inflation at highest since January 2013. May 22- Wall Street was mixed in early trading on Friday as investors digested data that showed rising inflation pressure, casting fresh doubt on when the Federal Reserve would ultimately raise interest rates this year. "September is still the most likely lift-off date, but July is not out of the question,...

  • LONDON, May 22- "Don't Fight the Fed" has long been a central tenet of financial markets and one of the most profitable trading strategies around. A speech in London on Monday from European Central Bank Executive Board member Benoit Coeure about tweaks to the bank's bond-buying program, or quantitative easing caught the market on the hop and triggered one of the...

  • AMSTERDAM, May 22- Dutch bank ABN Amro, nationalized after the financial crisis, should start its return to market this year with the sale of a first tranche of up to 30 percent of its shares, the government decided on Friday, according to Dutch media. The sale of the first tranche was likely to raise between 3 billion and 4.5 billion euros, which would be spent on paying...

  • TIRANA, Albania— The World Bank has agreed to lend Albania up to $1.2 billion to support its public finances and invest in infrastructure. A statement from the bank Friday said the board of directors agreed on a 2015-2019 lending program to support Albania's growth as it tries to join the European Union. The money will be used for fiscal stability, infrastructure...

  • ABN Amro to be listed in stages - Dutch public TV Friday, 22 May 2015 | 8:38 AM ET

    AMSTERDAM, May 22- Dutch bank ABN Amro, which was nationalised in a state bail-out after the financial crisis, will be returned to the market in stages, the Dutch government decided at a cabinet meeting on Friday, NOS public television reported.

  • LONDON, May 22- A shortage of prime office space in rival European financial centres may torpedo plans by some of London's banks to quit the UK capital if Britain opts out of European Union membership. Deutsche Bank, the euro zone's second largest bank by assets, confirmed this week it was considering cutting its UK operations if the country pulled out, and other...

  • LONDON, May 22- British lawmaker Andrew Tyrie is on course to win a second term as head of a powerful panel in parliament that scrutinizes the work of the finance ministry, the Bank of England and the London's financial services industry. It also holds question-and-answer sessions with top policymakers such as the governor of the Bank of England, Mark Carney, and...

  • *Vodafone shares gain, Richemont slips. European Central Bank President Mario Draghi and Bank of England Governor Mark Carney, along with other central bankers, will be addressing an ECB Forum in Portugal later in the day. Attention will also fall on Federal Reserve Chair Janet Yellen, who is due to speak on the U.S. economic outlook before the Greater Providence...

  • Richemont shares fell 3.4 percent after reporting an 8 percent fall in April sales at constant exchange rates as well as a lower net profit and said trading continued to remain difficult in its big markets of Hong Kong and Macau. European Central Bank President Mario Draghi and Bank of England Governor Mark Carney, along with other central bankers, will be...

  • House lawmaker issues subpoena to Fed over leak Friday, 22 May 2015 | 3:08 AM ET
    Representative Jeb Hensarling, a Republican from Texas and chairman of the House Financial Services Committee

    The chairman of a U.S. congressional committee subpoenaed Fed documents and communications related to a 2012 leak of information.

  • WASHINGTON, May 21- The U.S. Export-Import Bank moved a step closer to avoiding closure on Thursday as Senate Republican Leader Mitch McConnell agreed to hold a vote on renewing its charter in June. The decision gives Congress a legislative vehicle to start considering the fate of the federal export credit lender, with conservative House of Representatives...

  • House lawmaker issues subpoena to Fed in leak probe Thursday, 21 May 2015 | 6:40 PM ET

    Jeb Hensarling, the Texas Republican who heads the House Financial Services Committee, announced Thursday he had issued a subpoena to the Fed. The Fed inspector general, which is an independent watchdog, and the Justice Department have been investigating the matter. Fed Chair Janet Yellen disclosed earlier this month that she met once in 2012 with Regina...

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