Goldman Sachs has promoted one of its star deal makers to become a co-head of its investment bank, The New York Times reports.» Read More
Banks may have repaired their balance sheets but we're still waiting for any notable shift in their culture, according to a market commentator.
Philippe Bodereau, global head of financial research at PIMCO, says the problems associated with Banco Espirito Santo do not threaten the financial stability of euro zone banks.
HONG KONG, July 28- China shares closed at their highest since December on Monday, with gains led by the banking sector after a Reuters report said the country's fifth-biggest bank by assets planned to seek more private investors.
Chris Skinner, CEO of Balatro and director of the Financial Services Club, says bad banking culture has changed but there is still "a long way" to go.
Alex Brummer, author of "Bad Banks: Greed, Incompetence and the Next Global Crisis", says the much-needed change of culture in the banking sector hasn't happened.
David Ellis, Head of Australian Banking Research at Morningstar Australasia, discusses the bank's decision to offload a $1.2 billion portfolio of distressed British loans.
BERLIN, July 27- The European Central Bank supports Germany's Bundesbank in its appeals for higher wage deals in Germany, Der Spiegel magazine quoted ECB Chief Economist Peter Praet as saying on Sunday.
ZURICH, July 26- About 80 of the 106 Swiss banks that signed up for a deal with U.S. tax authorities could be fined less than they had feared for their role in helping wealthy Americans cheat on their taxes, but must widen their cooperation, a Swiss newspaper reported.
WASHINGTON, July 25- The U.S. House Financial Services Committee said on Friday that it will vote on a bill next week aimed at bringing more transparency to the Federal Reserve, including the controversial requirement of adopting a rules-based approach to its policy.
A Citigroup unit will pay $5 million to settle charges that one of its trading venues failed to protect clients' confidential trading data.
WASHINGTON, July 25- The U.S. Federal Reserve on Friday approved a resubmitted capital plan from Zions Bancorporation, part of an annual stress test of banks' financial robustness. In March, the Fed objected to the bank's 2014 capital plan because it did not meet the minimum 5 percent capital requirement in a simulated economic downturn.
FEDERAL RESERVE SAYS IT HAS NOT OBJECTED TO RESUBMITTED CAPITAL PLAN FROM ZIONS BANCORPORATION.
BEIJING, July 25- Chinese banks' bad loan ratio rose to 1.08 percent at the end of June from 1.04 percent in March, the banking regulator said on Friday, adding to concerns a slow economy and cooling property market could weigh on banks and brew up financial risks.
MOSCOW, July 25- Russia's central bank raised its key interest rate by 50 basis points on Friday in an unexpected move and said it could raise rates further, citing concerns about high inflation and geopolitical tensions- an apparent reference to Ukraine.
MOSCOW, July 25- Russia's central bank raised its key interest rate at a regular board meeting on Friday in an unexpected move, citing concerns about high inflation which remains well above the bank's target.
FRANKFURT, July 25- Lending to companies and individuals in Ireland fell at the fastest rate since October 2011 in June, data from the European Central Bank showed on Friday, highlighting one of the impediments to growth in the euro zone.
BEIJING, July 25- Chinese banks' non-performing loan ratio climbed to 1.08 percent at the end of June from 1.04 percent at the end of March, the China Banking Regulatory Commission said on Friday. In a statement reviewing the commission's work in the first half, it urged banks to control credit risks stemming from the property sector and local financing vehicles.
Britain's Lloyds Banking Group confirmed on Friday that it was close to agreeing a settlement over allegations of manipulating benchmark interest rates.
President Barack Obama said on Thursday the Federal Reserve was "properly focused" on unemployment given the relatively tame pace of inflation in the country, offering a broad endorsement of Fed Chair Janet Yellen's policy approach.
OTTAWA, July 24- Canada said on Thursday it will impose sanctions on "a broad range" of Russian companies and banks to punish Moscow for what it said was the illegal occupation of Crimea and "provocative military activity" in eastern Ukraine.
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