Settlement talks between Argentina and bondholders not part of the nation's past debt restructuring were pushed back one day, the mediator said.» Read More
The "Fast Money" traders weigh in on what's driving the turnaround in the markets. I think it's financials, says Josh Brown. Don't forget about big tech, says Jon Najarian, with a look at Hewlett-Packard, Intel and Microsoft, to name a few.
The ECB welcomes the EU banking union deal, says the central bank's President Mario Draghi, adding that the region needs a mechanism that "is properly funded."
DUBAI, March 20- Saudi Arabia's National Commercial Bank has invited banks to pitch for the adviser role on its highly-anticipated flotation on the kingdom's bourse, it said on Thursday.
Wall Street opened lower but reversed course after the Philadelphia Federal Reserve Bank said its business activity index rose far more than expected in March, rebounding after a contraction in February.
HOLLYWOOD, Fla., March 20- U.S. blacklistings over Russia's annexation of Crimea may spark a sanctions exchange that would leave banks scrambling to assess their exposure to targeted parties and to uncover murky financial linkages, according to industry officials.
BRUSSELS, March 20- Europe struck a deal on Thursday to complete a banking union with an agency to shut failing euro zone banks, but there will be no joint backstop for a fund to pay the costs of closures. *Banking union was shaped in part by Mario Draghi, the president of the European Central Bank, but it falls short of his vision.
NEW YORK, March 20- Factory activity in the U.S. mid-Atlantic region expanded far more than expected in March, a survey showed on Thursday. The Philadelphia Federal Reserve Bank said its business activity index rose to 9.0 in March from -6.3 in February, topping economists' expectations for 3.8, according to a Reuters poll.
*U.S. stockpiles rise more than expected; fall at Cushing hub. LONDON, March 20- Brent crude oil eased on Thursday after the Federal Reserve indicated the U.S. central bank could end its stimulus programme and raise interest rates sooner than expected. Brent was down 11 cents at $105.74 a barrel by 1357 GMT, after settling 94 cents lower on Wednesday.
Matt Flake, Q2 Holdings CEO, explains how his cloud-based banking platform allows community banks to compete with the big banks online.
Goldman Sachs is the latest bank to go bearish on China as the bank revisits its 2014 growth forecast. CNBC's Jim Cramer is looking for more realistic expectations from China.
Some interesting developments could crop up in the new round of stress tests applied by the Fed on banks.
BRUSSELS, March 20- European policymakers agreed on Thursday to complete a banking union with an agency to shut failing euro zone banks, but there will be no joint backstop for a fund to pay the costs of closures. It completes the second pillar of banking union, starting at the end of the year when the European Central Bank takes over as watchdog.
The Fed's shift to new metrics when old metric falls short is confusing and threatens its credibility, says Michael Farr.
*China's yuan deepens slide, hits one-year low. LONDON, March 20- The dollar powered higher against its major currency peers on Thursday after a surprise message from Federal Reserve head Janet Yellen that rises in U.S. interest rates were not as far away as most had thought.
Banks will find out if the Fed thinks they can cope with the next financial crisis when it publishes the results of an annual health check.
*Gold extends losses after falling 1.8 pct on Thursday. LONDON, March 20- Gold hit three-week lows on Thursday after posting its biggest one-day fall since late January in the previous session, reacting to comments from Federal Reserve head Janet Yellen suggesting U.S. interest rates could rise sooner than expected.
BRUSSELS, March 20- European policymakers agreed on Thursday to complete a banking union with an agency to shut failing euro zone banks but there will be no euro zone backstop for the new fund to help cover the costs of such closures.
*Dollar strength helps push China's yuan to one-year low. LONDON, March 20- The dollar steadied against its major currency peers on Thursday after being jerked higher overnight by a surprise message from Federal Reserve head Janet Yellen that rises in U.S. interest rates are not as far away as most had thought.
HONG KONG, March 20- Hong Kong shares tumbled to an eight-month low on Thursday as disappointing China Mobile earnings and news that the Federal Reserve could raise U.S. interest rates sooner than expected battered the market. The Hang Seng Index ended down 1.8 percent at 21,182.16, its lowest close since July 10.
TOKYO/ SYDNEY, March 20- The dollar traded near two-week highs against a basket of major currencies on Thursday, after comments from Federal Reserve head Janet Yellen prompted investors to bring forward their U.S. interest rate hike expectations.
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