What is the DOJ planning to do with the money its getting from Bank of America's settlement? Tom Fitton, Judicial Watch President, says some of the money is going to liberal activist groups.» Read More
*Fed chief to testify to Congress on Tuesday, Wednesday. TOKYO, July 15- The dollar edged up against the yen on Tuesday after the Bank of Japan tweaked its growth forecast lower, although currency moves were small as investors waited for Federal Reserve Chair Janet Yellen's congressional testimony later in the session.
FORTALEZA, Brazil, July 15- On the eve of the signing of a deal to launch a joint development bank, the BRICS nations have still not agreed on where the lender will be headquartered, a senior official involved in the talks told Reuters late on Monday. The five nations are Brazil, China, India, Russia and South Africa.
SHANGHAI, July 15- Major Chinese banks have temporarily suspended a yuan remittance service after a state broadcaster accused the country's fourth biggest lender Bank of China of allowing wealthy Chinese to launder money offshore through the scheme, the Wall Street Journal reported on Tuesday.
SAO PAULO, July 15- Itaú Unibanco SA borrowed a combined $480 million from a U.S. government-run lender and Wells Fargo& Co, as Latin America's largest bank by market value is increasingly using loan markets to finance clients in Brazil, its home turf.
John Caparusso, MD & Head of Banks Research at Standard Chartered Bank, says the country's new banking bill is "a normal part of risk management."
Vera Eve Lim, CFO of Bank Danamon, says a cut in the government's fuel subsidy program needs to be done even if it means short-term pain.
Mark Yusko, CEO & CIO of Morgan Creek Capital Management, says the bank's strong quarterly earnings assured investors, but warns of risks from tougher regulations.
Dissecting current market activity and gold's move, with Ylan Mui, The Washington Post; Harold Ford Jr., Morgan Stanley; "Fast Money" trader Tim Seymour; and CNBC's Kayla Tausche & Kelly Evans.
*Concerns ease over Portugal's top bank. Yellen, who will go before the Senate Banking Committee Tuesday to deliver the latest report to Congress on monetary policy, could take a hawkish stance on raising interest rates in response to strong June jobs data, analysts and investors said.
Anthony Chan, Chase, and Andrew Ahrens, Ahrens Investment Partners, discuss the best way to play current market action in the energy and financial space.
Debating Citi's valuation and if the stock is a buy after reporting better than expected earnings, with Michael Farr, Farr, Miller and Washington, and David Nelson. Belpointe Asset Management.
*Gold posts biggest one-day drop since early December. NEW YORK/ LONDON, July 14- Gold slid 2.4 percent on Monday, its biggest one-day drop since early December, as fading fears over Portugal's banking sector and a gain in U.S. equities prompted investors to take profits after bullion's rally to 3-1/ 2 month highs last week.
With the U.S. and Japanese central banks in the spotlight, it's time to look at the prospects for the Japanese yen, which is stronger this year.
July 14- Citigroup Inc said on Monday that quarterly earnings fell 96 percent, hurt largely by a $7 billion mortgage settlement, but also by declining income in most of its main businesses including stock trading and retail banking. Citigroup shares rose 3.7 percent to $48.74.
LONDON, July 14- A ripple of financial contagion from a troubled Portuguese bank and a warning that markets have got way ahead of the sluggish economies that underpin them have fired up new debate about an appropriate policy response. That warning gained potency when troubles at Portugal's largest listed bank prompted a worldwide market sell-off last week.
*Concerns ease over Portugal's top bank. Yellen, who will go before the Senate Banking Committee early Tuesday to deliver the latest report to Congress on monetary policy, could take a hawkish stance on raising interest rates in response to strong June jobs data, analysts said.
Digging into Citigroup's strong earnings, and what its $7 billion settlement with the DOJ means for the bank, with David Katz, Matrix Asset Advisors CIO. Katz explains why he is focused on lower risk financials.
CNBC's Kayla Tausche reports on Citigroup's $7 billion payout to the Justice Department.
Citigroup reported $1.24 earnings per share in Q2, beating Wall Street's estimates. CNBC's Jim Cramer shares his analysis of the company's profits.
David Hilder, Drexel-Hamilton banking analyst, breaks down Citi's Q2 results, and weighs in on its $7 billion settlement with the U.S. government over shoddy mortgage-back securities.
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