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  • Currency and stock markets in Asia generally firmed on Wednesday after a two-day sell-off that saw Indonesia's rupiah drop to its weakest level since the Asian currency crisis in 1998 and Thailand's main stock index register its biggest intraday loss since October 2008. Bank Indonesia said it had sold dollars to support the rupiah on Tuesday, and traders...

  • LONDON, Dec 17- The dollar edged up on Wednesday, a day after falling amid a flight to safety as a Russian currency crisis took hold and as speculation grew that the Federal Reserve might take a more cautious tone on monetary policy. The rouble's collapse- 50 percent so far this year- slowed slightly as Russia's finance ministry said it had started selling foreign...

  • Irish lawmakers open probe into banking crisis Wednesday, 17 Dec 2014 | 6:29 AM ET

    DUBLIN— Irish lawmakers opened a fact-finding investigation Wednesday into the causes of Ireland's banking crisis, when a collapsing property market exposed reckless lending and forced the country to take an emergency international bailout. "We will hear from those who were at the helm when Ireland ran aground, as well as from those who were in the engine room,"...

  • Swiss UBS to delist shares, make holding company Wednesday, 17 Dec 2014 | 5:45 AM ET

    GENEVA— Switzerland's largest bank UBS AG is moving to delist its shares from trading on exchanges in New York and Zurich as part of a reorganization to offer a safeguard against catastrophic losses. The Zurich- based bank says its directors have resolved to apply to delist UBS AG shares from the New York Stock Exchange and the SIX Swiss Exchange.

  • BoE holds interest rates at 0.5%  Wednesday, 17 Dec 2014 | 4:30 AM ET

    The Bank of England's latest monetary policy meeting shows that they will keep their interest rate at 0.5 percent. Adam Cole, head of currency strategy at RBC weighs in, adding that the next "stumbling block for U.K. policies" will be wage negotiations.

  • Fed rate wording boosts Asian stock markets Wednesday, 17 Dec 2014 | 4:44 AM ET

    NEW YORK— The U.S. stock market had its best day in more than a year after the Federal Reserve said it would to remain "patient" in its approach to raising interest rates. "The Fed is going to be our friend for a very long time," said Burt White, chief investment officer for LPL Financial. That was the biggest gain for the index since October 2013.

  • FOREX-Dollar pulls away from lows as it awaits the Fed Wednesday, 17 Dec 2014 | 4:24 AM ET

    LONDON, Dec 17- The dollar edged higher on Wednesday after falling the previous day, when a Russian currency crisis took hold and speculation grew that the Federal Reserve might take a more cautious tone on monetary policy. After skidding oil prices helped Russia's rouble to plunge as much as 25 percent on Tuesday, an uneasy calm took hold, as Russia's finance...

  • Spanish banks more resilient: Banking body  Wednesday, 17 Dec 2014 | 3:20 AM ET

    José María Roldán, president of the Spanish Banking Association, says the problem of non-performing loans for Spanish banks is a "done business" with institutions looking safer than before the financial crisis.

  • Fed pondering change in rate hike signals Wednesday, 17 Dec 2014 | 3:01 AM ET

    WASHINGTON— The U.S. economy is finally doing better, and the Federal Reserve may be ready to acknowledge that fact. It would be the first rate increase since June 2006. In addition to issuing its usual policy statement to close out its final meeting of the year, the Fed will update its economic forecast and Fed Chair Janet Yellen will hold a news conference.

  • Investors in beat-up oil bonds lean on banks for rescue Wednesday, 17 Dec 2014 | 1:00 AM ET

    BOSTON, Dec 17- Independent oil exploration and production companies are leaning heavily on bank credit lines to survive plunging crude prices, making it a nervous time for U.S. funds holding their junk-rated debt. 'said Francis Bradley III, a Greenberg Traurig attorney in Houston who specializes in energy company financing deals. " U.S. mutual funds hold an...

  • BEIJING, Dec 17- China stocks climbed higher on Wednesday as bank shares continued to surge on mainland markets, but Hong Kong's benchmark index slipped again and the price gap for dual-listed shares widened. The CSI 300 banking index was up 5.81 percent at the end of the morning, led by a 9.99 percent increase in Minsheng Bank and 8.75 percent increase for Bank of...

  • *Japanese lenders also planning to offer new services in India. MUMBAI, Dec 17- Faced with a shrinking economy and tepid loan demand at home, Japan's largest banks are looking to bolster their presence in India, enthused by Prime Minister Narendra Modi's reform agenda and improving ties between the two countries. Standard Chartered, the biggest foreign player in...

  • *Risk aversion rises on Russia's financial crisis. TOKYO, Dec 17- The dollar nursed its losses in early Asian trading on Wednesday, pulling away from lows hit overnight on skidding oil prices, Russia's financial crisis, and speculation that the Federal Reserve might take a more cautious tone on monetary policy. We also expect committee members to raise their...

  • Should we fear banks' exposure to energy?  Tuesday, 16 Dec 2014 | 5:15 PM ET

    Which big banks are most exposed to the energy industry? David Hilder, Drexel Hamilton senior equity research analyst, provides insight.

  • NEW YORK, Dec 16- The U.S. dollar slipped against major currencies on Tuesday on expectations that the Federal Reserve would take a cautious tone on monetary policy, while a slide in oil prices pushed the Russian rouble to new lows and boosted the safe-haven yen. "That the FOMC sounds dovish either in the statement or the press conference is certainly a risk to the...

  • Federal Reserve stared down a volatile global economy in October to keep its plans for an eventual interest rate hike on track, and is likely to do so again this week amid plunging oil prices and a potential currency crisis in Russia. According to the Bank for International Settlements, U.S. bank exposure to Russia has fallen from $43 billion at the start of 2013 to...

  • Prospects of Turkish rate cut fade as lira slides Tuesday, 16 Dec 2014 | 12:59 PM ET

    ISTANBUL, Dec 16- A slump in the Turkish lira driven by a sell-off on emerging markets plus investors' nerves about domestic politics have diminished expectations of interest rate cuts, putting pressure back on the central bank before elections next June. Just last week Central Bank Governor Erdem Basci said falling oil prices, now at a 5-1/ 2- year low, could help...

  • Swedish banks happy with 0% rate  Tuesday, 16 Dec 2014 | 11:40 AM ET

    With the Swedish Central Bank leaving its rates at 0%, Stefan Ingves, governor of Riksbank said that until the latter part of 2016, rates can be kept at 0%.

  • UK stress tests: How about cutting costs?  Tuesday, 16 Dec 2014 | 11:25 AM ET

    Discussing the Bank of England's stress test results, Howard Shore, founder & executive chairman at Shore Capital, says that banks like Lloyds and RBS should be cutting costs to make a good return on capital for shareholders.

  • Russia's econ minister says hike came late: Report Tuesday, 16 Dec 2014 | 11:43 AM ET
    Alexei Ulyukayev

    The overnight decision by the Russian central bank to raise rates came too late, RIA Novosti cited Economy Minister Alexei Ulyukayev as saying.

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