Stephen Koseff, CEO of Investec, talks about full-year earnings and the company's strategy of diversifying away from capital intensive business.» Read More
*Saks rallies on report it could sell itself. NEW YORK, May 22- U.S. stocks rose on Wednesday, giving up some gains after an initial rally, after Federal Reserve Chairman Ben Bernanke said the central bank needed to see further signs of traction in the economy before it tapered its economic stimulus efforts.
WASHINGTON, May 22- The Federal Reserve's monetary stimulus is helping the U.S. economy recover but the central bank needs to see further signs of traction before taking its foot off the gas, Fed Chairman Ben Bernanke said on Wednesday.
*U.S. investigators pursuing banks like Credit Suisse, Julius Baer. Finance Minister Eveline Widmer-Schlumpf said on Saturday that Switzerland was on the brink of a deal that would be painful for banks, although she declined to say how big fines might be.
Fed Chair Ben Bernanke told Congress the U.S. job market remains weak, and it is too soon to end its stimulus. Stocks spiked on his comments.
NEW YORK, May 22- U.S. stocks extended gains on Wednesday immediately following prepared testimony from Federal Reserve Chairman Ben Bernanke before a congressional panel. The head of the central bank said monetary stimulus is helping the economy recover, and the Fed needs to see further signs of traction before taking its foot off the gas.
WASHINGTON, May 22- The Federal Reserve's monetary stimulus is helping the U.S. economy recover, and the central bank needs to see further signs of traction before taking its foot off the gas, central bank chairman Ben Bernanke said on Wednesday.
*Investors to focus on Bernanke's remarks before Congress. NEW YORK, May 22- U.S. Treasuries prices were little changed on Wednesday as investors awaited possible hints from Federal Reserve Chairman Ben Bernanke on whether the U.S. central bank might slow its purchases of bonds this year.
NEW YORK, May 22- Federal Reserve Chairman Ben Bernanke is not expected to hint at a pending policy change when he testifies before the U.S. Congress on Wednesday despite some speculation among investors that the central bank could soon reduce its massive bond buying program.
Gary Parr, Lazard vice chairman, explains why he is concerned about the fate of charitable giving.
*Fed Chairman Bernanke speaks to Congress at 1400 GMT. LONDON, May 22- Gold extended earlier gains on Wednesday as the dollar weakened after U.S. On Tuesday, New York Federal Reserve Bank President William Dudley and St.
*Austria to end bank secrecy for foreigners this year. BRUSSELS, May 22- Europe moved closer to ending banking secrecy on Wednesday after Austria dropped objections to sharing data on foreign depositors and the EU focused on negotiating a similar agreement with Switzerland.
Gary Parr, Lazard vice chairman, discusses how investor activism impacts corporate governance; and explains how regulations and stricter capital controls are impacting big banks.
May 22- It is too soon to determine whether to dial down the Federal Reserve's massive bond-buying program, and the economic picture may not be clear enough to make that decision for another three or four months, an influential U.S. central bank official said.
LONDON, May 22- European shares fell from multi-year highs on Wednesday, with luxury goods stocks among the worst performers, as some investors sold in anticipation of a near-term pull-back in the market. Federal Reserve chief Ben Bernanke is due to speak later in the day and the U.S. central bank is also due to release minutes of its May policy meeting.
*Coming Up: Fed Chairman Bernanke speaks at 1400 GMT. LONDON, May 22- Gold rose on Wednesday as the dollar fell after Federal Reserve officials allayed investor concerns that the U.S. central bank would soon reduce its bond-buying programme, while Chinese physical demand also lent some support to prices.
*Gold, copper gain on hopes of Fed support. LONDON, May 22- The dollar and benchmark German debt yields eased on Wednesday as expectations hardened that the head of the U.S. central bank will later in the day signal no tapering back of its ultra-loose monetary policy.
Ben Bernanke, who speaks before the Joint Economic Committee of the U.S. Congress at 1400 GMT, is expected to follow the line set by two other Federal Reserve officials, who struck a dovish tone on the economy on Tuesday. "
John Rogers, President and CEO of CFA talks the importance of creating a professional standard in the financial industry.
SHANGHAI/ HONG KONG, May 22- Chinese commodities firms importing everything from gold and rubber to base metals are struggling to get trade loans as banks scrutinise their activities and hold back credit following Beijing's orders to rein in currency speculation.
*Gold still trading near 2- year lows. SINGAPORE, May 22- Gold rose on Wednesday on strong Chinese demand and after Federal Reserve officials allayed investor concerns that the U.S. central bank will soon exit its bullion-friendly bond purchases.