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  • Trading Nation: Big banks still a buy?   Wednesday, 20 May 2015 | 2:38 PM ET

    Larry McDonald, Societe Generale, and Carter Worth, Cornerstone Macro, discuss where there is opportunity in the bank sector.

  • LONDON, May 20- British finance minister George Osborne will set out plans on Wednesday to streamline the sale of 23 billion pounds of bank shares and other publicly owned assets by creating a new government-run company. In a speech to business leaders in London, Osborne will highlight the plan as part of a drive to improve Britain's low productivity- which he...

  • May 20- U.S. stocks remained near flat on Wednesday as Wall Street saw little in the minutes from last month's Federal Reserve meeting to change expectations of when the central bank will raise interest rates. "The comments were fairly innocuous," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. At 2:15 p.m., the Dow...

  • MIAMI, May 20- Stonegate, a small Florida bank, has opened an account for the Cuban government, according to a source familiar with the state's banking industry, removing an obstacle in the way of Washington and Havana restoring diplomatic ties after more than 50 years. President Barack Obama said he was seeking to improve diplomatic and commercial relations...

  • 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. ECB Executive Board member Benoit Coeure gave a speech to an invitation-only dinner of fund managers, bankers and...

  • Fed minutes indicate June rate hike unlikely Wednesday, 20 May 2015 | 2:01 PM ET

    WASHINGTON— Federal Reserve policymakers largely agreed when they met last month that it would be too early to start raising interest rates in June, as they debated whether the economy's winter weakness would fade or persist. The divergent views were revealed Wednesday in the minutes of the central bank's discussions at their April 28-29 meeting.

  • Banks in currencies scandal   Wednesday, 20 May 2015 | 1:03 PM ET
    Banks in currencies scandal

    Five of the world's biggest banks have been slapped with a $5 billion fine and criminal charges over rigging currency markets, reports CNBC's Eamon Javers.

  • Asian stock markets uneven after weak China data Wednesday, 20 May 2015 | 10:26 AM ET

    NEW YORK— The stock market showed little life on Wednesday as it closed yet another trading day barely changed from the day before. "There's no real reason to rally and no real reason to decline," said Matthew Tuttle, CEO of money manager Tuttle Tactical Management. Etsy plunged 18 percent after its first earnings report as a publicly traded company showed a hefty...

  • FOREX-Dollar's gains spurred by ECB's bond buying plans Wednesday, 20 May 2015 | 11:39 AM ET

    *Eyes on Fed, ECB meeting on Greece. NEW YORK, May 20- The dollar hit a three-week high against the euro and a two-month peak versus the yen on Wednesday, extending a rebound rally underpinned by European Central Bank plans to frontload its quantitative easing program in a move to keep interest rates low. "The ECB has taken the wind out of the euro's sails," said Mark...

  • Stonegate Bank opens bank account for Cuban gov't   Wednesday, 20 May 2015 | 11:25 AM ET
    Stonegate Bank opens bank account for Cuban gov't

    A small bank in Florida has opened up a bank account for the Cuban government, reports CNBC's Michelle Caruso-Cabrera.

  • NEW YORK, May 20- Five of the world's largest banks, including JPMorgan Chase& Co and Citigroup Inc, were fined roughly $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on Wednesday. British banks Barclays Plc will pay $650 million in criminal penalties and Royal Bank of Scotland...

  • *Barclays fined $2.4 bln, fires 8 employees. *Citi, Barclays, JP Morgan and RBS plead guilty. Traders at Citigroup, JP Morgan, Barclays and Royal Bank of Scotland, who described themselves as "The Cartel", used an invitation-only electronic chatroom and coded language to manipulate the price of U.S. dollars and euros between December 2007 and January 2013, according to...

  • Big banks plead guilty, fined $5.7B on rate rigging Wednesday, 20 May 2015 | 1:33 PM ET
    Barclays Capital office building in New York.

    Five of the world's largest banks were fined, and four pleaded guilty to U.S. criminal charges over foreign exchange manipulation.

  • NEW YORK/ WASHINGTON, May 20- Authorities fined five of the world's largest banks, including JPMorgan Chase& Co and Citigroup inc, roughly $5.7 billion, and four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, the U.S. Department of Justice said on Wednesday. U.S. banks JPMorgan Chase and Citigroup will pay $550...

  • Traders at JPMorgan Chase, Citigroup's banking unit Citicorp, Barclays and the Royal Bank of Scotland were accused of working together to manipulate rates on the foreign exchange market, where hundreds of billions of dollars and euros change hands back and forth. The penalties are a victory for the government and reflect a broader effort by the Justice...

  • AG Lynch: Banks to pay combined $5.6B in FX penalties   Wednesday, 20 May 2015 | 10:05 AM ET
    AG Lynch: Banks to pay combined $5.6B in FX penalties

    U.S. Attorney General Loretta Lynch announces the settlements with global financial institutions in connection with long-running manipulation of the Foreign Exchange (FOREX) spot market.

  • NEW YORK/ WASHINGTON, May 20- Authorities fined five of the world's largest banks, including JPMorgan Chase& Co and Citigroup, roughly $5.7 billion and four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, the U.S. Department of Justice said on Wednesday.

  • 5 major banks plead guilty in currency case   Wednesday, 20 May 2015 | 10:02 AM ET
    5 major banks plead guilty in currency case

    CNBC's Eamon Javers reports on the fines for banks in the currency manipulation scandal.

  • India's gold monetisation plan lacks lustre - industry Wednesday, 20 May 2015 | 9:24 AM ET

    *Banks worry over operational costs. SINGAPORE/ MUMBAI, May 20- A proposal in India to attract thousands of tonnes of gold owned by households into a bank deposit scheme will likely fail in its current form as it does not address some key concerns for banks and consumers. Deposit schemes, similar to the one proposed on Tuesday by the Narendra Modi- led government, have...

  • *Yahoo up after sharp selloff on Tuesday. *Pep Boys up after report of takeover approach. May 20- Wall Street was set to open little changed on Wednesday with investors cautious ahead of the release of minutes from last month's Federal Reserve meeting, which is expected to shed light on when interest rates will be hiked.

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