What is historically the worst month for stocks may turn out to be the third quarter's best month for traders.» Read More
PANAMA CITY, July 18- Panamanian banking supervisors said on Friday they had taken control of ES Bank SA, a small unit of Portugal's Espirito Santo, which is facing intense scrutiny from investors and regulators over revelations of irregularities at related companies.
Portugal's Espirito Santo International, holding company of Banco Espirito Santo, said it has filed for creditor protection.
BRASILIA, July 18- The market is getting ahead of itself if it thinks Brazil's central bank could start cutting interest rates again to rescue a weakening economy, a member of the government's economic team told Reuters.
"People are starting to increase inventory to build for a better economy and a better outlook in quarters three and four," Richard Davis, chief executive of U.S. Bancorp, said after the bank reported earnings on Wednesday. U.S. Bancorp reported a 12.4 percent rise in commercial loans by volume for the quarter.
*Angola central bank says BES's Angola unit needs capital increase. LISBON, July 18- Financial problems at Portugal's Espirito Santo business empire spilled further across national borders on Friday, with Angola's central bank saying the local division of Banco Espirito Santo would need a capital increase to deal with bad loans.
LONDON, July 18- The world's top trading houses appear to be quickly turning into commodity finance banks, by lending billions of dollars to clients as a decades-long dominance of French banks shrinks.
LISBON, July 18- Banco Espirito Santo should be able to tap private investors if it needs to boost its defences against losses, Portugal's central bank governor said on Friday, reiterating that the lender had sufficient capital reserves.
Worldwide merger and acquisition activity has reached $2 trillion so far this year, up 75 percent from last year, according to Thomson Reuters data.
Mike Smith, CEO of ANZ, explains his positive outlook for the region's banking sector in the near term.
A proposed merger in Malaysia will create the first Islamic bank that will have enough clout to challenge conventional, often Western, banks.
OWENSBORO, Kentucky, July 17- The labor participation rate is expected to fall and the government should not expect an influx of workers, a Federal Reserve official said on Thursday, raising a point that goes against the view of Fed Chair Janet Yellen.
CNBC's Rick Santelli speaks to Rep. Jeb Hensarling, (R-Texas), about Fed transparency and accountability. Hensarling also weighs in on Dodd-Frank.
LONDON, July 17- Britain's financial watchdog said it had prioritized the worst cases of Libor benchmark interest rate fixing, providing a signal that the largest fines for banks' alleged role in the scandal may already have been levied.
*Fed expected to start raising rates in Q2 2015. WASHINGTON, July 17- Rising inflation pressures could push the U.S. "All things considered, there is now an increased risk of an earlier first rate hike," economists at Bank of America Merrill Lynch said in a report.
Embraer will sell 40 planes to China's Tianjin Airlines, half of which will be the re-engined model known as E-190 E2, entering service in 2018. The Industrial and Commercial Bank of China Ltd will buy 20 aircraft, following an accord in 2012 to provide leasing for Embraer planes.
LONDON, July 17- The world's top trading houses appear to be quickly turning into commodity finance banks, by lending billions of dollars to clients as a decades-long dominance of French banks shrinks.
CNBC's Jim Cramer breaks down the earnings of the big banks. Cramer explains the "new model" of investment banking.
Struggling lender Banco Espirito Santo and its parent companies were hit with more bad news, as its debt was downgraded into junk territory.
John Stumpf, Wells Fargo CEO, shares his thoughts on housing regulations.
The endgame is to keep companies here and create jobs, says John Stumpf, Wells Fargo CEO, sharing his thoughts on tax reform.
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