Bank of America agreed to pay $16.65 billion to end investigations into mortgage securities that it sold in the run-up to the financial crisis.» Read More
In a memo to staff, Barclays CEO Anthony Jenkins warns he will not "tolerate any circumstances in which our clients are lied to".
After New York Attorney General Eric Schneiderman filed a lawsuit against Barclays, Dennis Gartman, The Gartman Letter, and securities attorney Andrew Stoltmann, discuss if the recent offensive launched by U.S. regulators against European banks is warranted.
*Financial stocks slide on U.S. lawsuit vs Barclays. NEW YORK, June 26- U.S. stocks fell on Thursday after a top Federal Reserve official said interest rates should rise by early 2015, while the pound gained on speculation that UK rates were set to go higher, even as the Bank of England took only mild steps on Thursday to tighten lending.
Ed Salvesen, equity analyst at Brewin Dolphin, comments on the banking sector following Standard Chartered's profit warning and Barclays' potential fine from US authorities.
*U.S.-listed shares of Barclays fall on fraud lawsuit. *GoPro to make Nasdaq debut after pricing IPO at top of range. NEW YORK, June 26- U.S. stocks fell on Thursday following comments from a top Federal Reserve official that interest rate increases should come sooner rather than later.
BRASILIA, June 26- Brazil's inflation will start to subside next year after economic growth slows further, the central bank said on Thursday, reinforcing expectations that it will not raise interest rates in the near future.
Emerging markets experts at Deutsche Bank, JPMorgan and Morgan Stanley are bearish on investing in Brazil regardless of the World Cup.
LYNCHBURG, Va., June 26- The U.S. jobless rate is likely giving an accurate read on the amount of slack in the labor market, with an unusually high level of long-term unemployment reflecting those who lack skills needed to find work, a top Federal Reserve official said on Thursday.
LONDON, June 26- The Bank of England imposed its first limits on how much most people can borrow to buy a home on Thursday, in a bid to stem increasing levels of debt and rapidly rising house prices.
SHANGHAI/ HONG KONG/ SYDNEY, June 26- A warehouse fraud at China's third-largest port has forced banks and trading houses to consider new controls in the country's massive commodity financing business, which traders say could lead to drying up of credit for all but large firms and state-owned companies.
New York's AG says individual investors thought they were diving into "safe waters" when investing with Barclays, but those waters were "full of predators."
Lynchburg, Va., June 26- U.S. labor market data since 2008 reflects structural trends rather cyclical changes, a Federal Reserve official said on Thursday, adding that there seems to be no more slack now than is usually associated with current unemployment levels.
BRASILIA, June 26- Brazil's central bank cut its economic growth forecast for 2014 and expects inflation to subside after a temporary peak this year, reinforcing expectations that policymakers will keep interest rates steady for some time.
Standard Chartered said its profits would fall by about 20 percent in the first half of this year from a year ago.
Cole Smead, managing director at Smead Capital Management, discusses U.S. banks' capital position after the Federal Reserve announced that its stress tests would be tougher.
*Easier monetary policy from China central bank seen driving regional stocks. BANGALORE, June 26- Shares in Shanghai, Hong Kong and South Korea are expected to rally over the next six months on expectations that China's central bank will ease policy, boosting both its economy and that of the region, a Reuters poll showed.
The search for missing Malaysia Airlines Flight MH370 will shift south along a narrow arc identified as the most likely resting place of the plane.
TOKYO, June 26- Japan's Nikkei rose marginally on Thursday, crawling back from a one-week low as weak U.S. gross domestic product data supported by views that the U.S. Federal Reserve will keep interest rates low for longer. Rakuten Inc soared on a report it is preparing to enter the low-cost carrier business.
Barclays pulled a bond offering after it emerged that the New York attorney general was preparing to sue the UK bank for securities fraud.
WASHINGTON- Federal Reserve Bank of St. Louis President James Bullard speaks in New York on "Monetary policy and Income inequality" at the Charles Peter McColough Roundtable Series on International Economics. LONDON- Bank of England publishes half-yearly Financial Stability Report and Governor Mark Carney holds news conference- 0930 GMT.
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