A number of tricks used by China's bankers will likely undercut any attempt to measure any change in lending stemming from the PBOC's rate cut.» Read More
*Fed cuts monthly bond buying by $10 billion. *Still focused on "significant" labor market slack. WASHINGTON, July 30- The Federal Reserve on Wednesday reaffirmed it was in no rush to raise interest rates, even as it upgraded its assessment of the U.S. economy and expressed some comfort that inflation was moving up toward its target.
*Twitter shares rally a day after results. Among the biggest positives were bank shares, with the S&P financial index up 0.4 percent, helping to support the S&P 500. Shares of Wells Fargo gained 1.1 percent to $52.10.
NEW YORK, July 30- The U.S. dollar pared gains against a basket of major currencies on Wednesday after a Federal Reserve statement disappointed expectations that the central bank would take a more hawkish bias on monetary policy.
NEW YORK, July 30- The S&P 500 ended nearly flat on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.
NEW YORK, July 30- The S&P 500 was near flat on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.
*Central bank reaffirms no rush to raise interest rates. NEW YORK/ LONDON, July 30- Gold futures ended lower on Wednesday, but traders largely shrugged off a statement from the Federal Reserve hinting the U.S. central bank was in no rush to hike interest rates, which would reduce appetite for the precious metal.
NEW YORK, July 30- The S&P 500 turned higher while the Dow pared losses on Wednesday after the Federal Reserve raised its assessment of the U.S. economy while reiterating it is in no hurry to increase interest rates. Shares of Wells Fargo gained 1.4 percent to $52.26.
*The central bank cut its monthly asset purchases to $25 billion from $35 billion, leaving it on course to shutter the program this fall. KIM RUPERT, MANAGING DIRECTOR AT ACTION ECONOMICS IN SAN FRANCISCO:. OMER ESINER, CHIEF MARKET STRATEGIST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON:.
NEW YORK, July 30- Last-ditch efforts by Argentina's local banking association Adeba to act as a white knight in talks with creditors has raised hopes the country can avoid a second default in 13 years. By having banks satisfy such claims instead of Argentina, the government may find away around the so-called RUFO clause.
WASHINGTON, July 30- The Federal Reserve on Wednesday pressed ahead with its plan to wind down its bond-buying stimulus and upgraded its assessment of the U.S. economy, while reaffirming it is in no rush to raise interest rates. The central bank cut its monthly asset purchases to $25 billion from $35 billion, leaving it on course to shutter the program this fall.
A U.S. district court in Manhattan has ruled that Bank of America must pay the U.S. government $1.27 billion in a Countrywide "hustle" fraud.
*Flows of Russian wealth to Singapore rising. *Banks in Singapore are clamping down on who they let in. New sanctions imposed by Washington and Europe over the Ukraine crisis have prompted firms such as VTB- Russia's second-largest bank by assets- and Gazprombank to look east for new sources of funding.
*Twitter rallies after blockbuster results. NEW YORK, July 30- U.S. stocks were flat on Wednesday, paring earlier gains as a strong read on second-quarter economic growth sparked concerns the Federal Reserve may adjust its stimulus earlier than expected.
LONDON, July 30- Gold fell on Wednesday, pressured by a multi-month high in the dollar following stronger-than-expected U.S. economic growth data and ahead of a Federal Reserve statement that could give hints on interest rate policy. Spot gold, flat initially, fell 0.3 percent to $1,295.20 an ounce by 1452 GMT, after breaking below $1,300 in the previous session.
CNBC's Josh Lipton speaks to PayPal co-founder and serial entrepreneur Max Levchin, about his new lending service start-up Affirm, an alternative to banks for lending.
LONDON, July 30- Miscreant bankers face having their bonuses clawed back for up to seven years after their award under measures set out on Wednesday by the Bank of England, as it tightens its regulatory clampdown on wrongdoing in the financial sector.
WASHINGTON, July 30- The U.S. House of Representatives Financial Services Committee narrowly approved a bill on Wednesday that would require the Federal Reserve to set a specific rule to follow when implementing monetary policy. Even if it were approved by the Republican-led House, there is no sign the Democrat-controlled Senate would take it up.
Argentine banks are expected to offer to buy debt owned by holdout investors suing country in a bid to avert default, a banking executive said.
BUENOS AIRES, July 30- A consortium of Argentine banks is set to offer to buy out the country's debt held by holdout investors suing Argentina, in an eleventh-hour deal aimed at averting a default, a senior banking executive familiar with the offer told Reuters on Wednesday.
*UK Bank Rate seen at 1.25 pct end-2015, 2.25 pct end-2016. LONDON, July 30- It could be as soon as next week that the first member of the Bank of England's Monetary Policy Committee votes to increase interest rates but it will be early 2015 before a majority agrees, a Reuters poll found on Wednesday.
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