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  • Did the US overreact to China-led AIIB?   Thursday, 16 Apr 2015 | 12:44 AM ET
    Did the US overreact to China-led AIIB?

    Speculation that China will use the AIIB to undermine U.S. power is unlikely as the development bank isn't part of the financial system, says Fraser Howie, managing director at Newedge Singapore.

  • US reaction on AIIB is a victory for China: Pro   Wednesday, 15 Apr 2015 | 10:39 PM ET
    US reaction on AIIB is a victory for China: Pro

    Michael Pettis, finance professor at Peking University, explains why the reaction from the U.S. over the Asian Infrastructure Investment Bank translates into a victory for China.

  • TOKYO, April 16- Japan's Sharp Corp and its main banks are to meet on Thursday to agree on a $1.7 billion rescue and restructuring plan for the loss-making electronics maker, a person involved in the discussions said. An agreement between the Osaka- based company and its main lenders, Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ, would be Sharp's second big bailout...

  • 'China is conscious that AIIB cannot fail': Pro   Wednesday, 15 Apr 2015 | 8:46 PM ET
    China is conscious that it cannot fail: Pro

    Philippe Le Corre, fellow at The Brookings Institution, discusses the involvement of European nations in the Asian Infrastructure Investment Bank and explains why the new institution is a big challenge for China.

  • DIARY- Top Economic Events to April 28 Wednesday, 15 Apr 2015 | 8:01 PM ET

    WASHINGTON- European Central Bank Vice President Vitor Constancio speaks before the Levy Economics Institute of Bard College 24th Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies- 1300 GMT. WASHINGTON- International Monetary Fund Deputy Managing Director Min Zhu, Central Bank of Malaysia Governor Zeti Akhtar Aziz, Turkey Deputy...

  • April 15- Hudson City Bancorp faces a U.S. government investigation into discriminatory lending practices, Bloomberg reported, citing two people familiar with the matter. The U.S. Justice Department and Consumer Financial Protection Bureau are examining whether the bank violated the Fair Housing Act, Bloomberg reported, adding that a preliminary CFPB...

  • SAFT ON WEALTH-GE points way for 'too big to fail' peers Wednesday, 15 Apr 2015 | 4:41 PM ET

    April 15- If shedding its financing arm did wonders for General Electric's stock price, maybe too-big-to-fail bank peers like Citibank and JP Morgan should consider similar moves. GE last Friday announced a plan to divest most of GE Capital, taking operating earnings from finance eventually down to less than 10 percent of the whole as compared to 57 percent in...

  • More people worldwide are opening bank accounts Wednesday, 15 Apr 2015 | 4:01 PM ET

    The number people with an account— either on mobile phones or at bank branches— jumped by 700 million between 2011 and 2014, the World Bank said Wednesday. "It's the first step of getting into the world's financial system," says Asli Demirguc-Kunt, who directs research at the World Bank and co-authored its 2014 Global Findex Survey. Mobile payment accounts are...

  • April 15- Hudson City Bancorp faces a U.S. government investigation into discriminatory lending practices, Bloomberg reported, citing two people familiar with the matter. The U.S. Justice Department and Consumer Financial Protection Bureau are examining whether the bank violated the Fair Housing Act, Bloomberg reported, adding that a preliminary CFPB...

  • NEW YORK, April 15- U.S. That has at the margin supported the Treasury market, "said Dan Mulholland, head of Treasuries trading at Credit Agricole in New York. New York Federal Reserve data also showed that growth in manufacturing activity in New York state unexpectedly contracted in April, weakening for a third straight month as the pace of new orders fell to a...

  • Fed survey finds US economy growing at moderate pace Wednesday, 15 Apr 2015 | 2:02 PM ET

    In its latest survey of business conditions around the country, the Fed said that eight of its 12 banking regions described the economy as growing at either a moderate or modest pace with two others— Atlanta and Kansas City— describing conditions as steady. The report said that a slowdown in the chemical industry had been reported by contacts in St. Louis and...

  • *Banks, Intel boost Wall Street. NEW YORK, April 15- European shares hit a 14- year high and the euro fell on Wednesday after the European Central Bank affirmed its loose policy stance, while U.S. stocks rallied after several strong earnings reports. U.S. stocks rallied, helped by better-than-expected results from banks JPMorgan Chase and Wells Fargo and earnings...

  • *Banks, Intel boost Wall Street. NEW YORK, April 15- European shares hit a 14- year high and the euro fell on Wednesday after the European Central Bank affirmed its loose policy stance, while U.S. stocks rallied after several strong earnings reports. U.S. stocks rallied, helped by better-than-expected results from banks JPMorgan Chase and Wells Fargo and earnings...

  • UPDATE 4-ECB promises 'firm' roll-out of money printing Wednesday, 15 Apr 2015 | 11:35 AM ET

    FRANKFURT, April 15- The head of the European Central Bank pledged on Wednesday to roll out its money-printing programme' firmly' and granted continued backing for Greece, saying there was no need yet to limit emergency funding for its banks. Describing speculation that the fledgling 60 billion euro a month scheme would be scaled back as "surprising", Mario Draghi...

  • ATHENS, April 15- Greek banks made more use of so-called emergency liquidity assistance in March, increasing their borrowing by 4.4 percent from the previous month as an outflow of deposits continued, Bank of Greece data showed on Wednesday. Emergency funding from the Greek central bank, which is more costly than borrowing from the European Central Bank, rose to...

  • NEW YORK, April 15- The U.S. dollar rebounded against the euro on Wednesday after the European Central Bank reiterated its dovish stance on monetary policy, though weaker-than-expected U.S. economic data limited the dollar's advance. The European Central Bank has no plans to curb or curtail its money-printing program, although it expects the euro zone...

  • BofA by the numbers   Wednesday, 15 Apr 2015 | 10:08 AM ET
    BofA by the numbers

    Bank of America posted a first quarter profit. Brennan Hawken, UBS analyst, puts the quarter into context.

  • NEW YORK, April 15- U.S. That has at the margin supported the Treasury market this morning, "said Dan Mulholland, head of Treasuries trading at Credit Agricole in New York. New York Federal Reserve data earlier showed that growth in manufacturing activity in New York state also unexpectedly contracted in April, weakening for a third straight month as the pace of new...

  • EBS sets sights on running central system for FX fix Wednesday, 15 Apr 2015 | 10:05 AM ET

    LONDON, April 15- Currency trading platform EBS has been approached by major banks to provide a computerized system removing much of the human element behind a scandal over the manipulation of currency benchmarks by lenders, a senior EBS manager said. Such a facility has been discussed for some time as a way of reducing the risk of sensitive client order...

  • FRANKFURT, April 15- The European Central Bank has no plans to curb or curtail its money-printing program although it expects euro zone economic recovery to broaden and strengthen. Last month the ECB embarked on an asset-buying program with 60 billion euros a month of news money, which it has said will last until at least September 2016. "Purchases are intended to...

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