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  • NAIROBI, June 2- Kenya's president has picked an IMF adviser, Patrick Ngugi Njoroge, as the next central bank governor, pending approval by parliament, his spokesman said on Tuesday. Njoroge is an adviser to a deputy managing director at the Washington- based International Monetary Fund, has been named to lead the bank at a time when the shilling has come under heavy...

  • At JPMorgan, voicemail deemed obsolescent Tuesday, 2 Jun 2015 | 4:29 PM ET

    NEW YORK, June 2- Voicemail is going the way of the typewriter, at least at JPMorgan Chase& Co.. The Wall Street bank is eliminating voicemail for thousands of employees who do not take calls from customers, at a savings of $10 a month per person, Gordon Smith, chief executive of the company's consumer banking operations, said at an investor conference on Tuesday.

  • WASHINGTON, June 2- The U.S. Senate might not consider reauthorizing the Export-Import Bank until July, risking a short-term shutdown of the export credit agency, a senior Republican said on Tuesday. The bank, which provides support to U.S. exporters and buyers of U.S. goods such as Boeing Co planes, will have to halt new lending on June 30 unless its term is renewed,...

  • WASHINGTON, June 2- U.S. Senate Banking. Conservatives in Congress want to let the U.S. export credit agency's mandate lapse when its current term expires on June 30. Guggenheim Securities analyst Chris Krueger raised the chance of a forced closure of Ex-Im Bank to 70 percent from 60 percent, although he said the bank could be revived later in the year.

  • *Fintech labs planned for London, Berlin, Silicon Valley. FRANKFURT, June 2- Deutsche Bank aims to launch three technology innovation labs in Berlin, London and Silicon Valley this year designed to accelerate development of so-called "fintech" companies which could aid the banking sector and its clients. A spokesman for Deutsche Bank declined comment.

  • WASHINGTON, June 2- It may be impossible for the Federal Reserve to raise interest rates until the rest of the world economy improves, Fed board member Lael Brainard said on Tuesday, in the most direct acknowledgement yet of how weak global markets could handcuff the U.S. central bank. The risks associated with a Greek default, a slowdown in China, and continued...

  • *Juno jumps on report of AstraZeneca interest. June 2- U.S. stocks were lower in late morning trading, paring some of their losses earlier in the session, as weak factory orders data and bearish comments from a Federal Reserve board member allayed fears of a rate hike coming sooner rather than later. "Interest rates are not going to matter if they're rising because of...

  • BEIJING, June 2- China's central bank said it disbursed 262.8 billion yuan worth of pledged supplementary loans, or PSL, to banks in the first five months of this year. The central bank said in an online statement there were 645.9 billion yuan worth of PSL in the banking system at the end of May. The latest PSL exercise was aimed at supporting China's urbanization and...

  • BEIJING, June 2- China's central bank said it withdrew 25 billion yuan worth of three-month loans from banks on a net basis in May, leaving a total of 1.05 trillion yuan of the loans in the banking system at the end of last month. The loans were made under the medium-term lending facility, or MLF, and were disbursed at an interest rate of 3.5 percent.

  • MUMBAI, June 2- India's central bank cut interest rates for a third time this year on Tuesday, taking advantage of subdued inflation to give more support to an economy that many economists doubt is doing as well as latest impressive growth numbers suggest. The Reserve Bank of India's quarter point reduction in the repo rate to 7.25 percent was predicted by 35 of 48...

  • HSBC to face US lawsuits over $34B mortgage losses Tuesday, 2 Jun 2015 | 2:46 AM ET
    An HSBC bank branch is shown in London, Feb. 9, 2015.

    HSBC was ordered to face three U.S. lawsuits accusing it of breaching its duties as a trustee overseeing residential mortgage-backed securities.

  • UK to take first steps toward RBS privatization Tuesday, 2 Jun 2015 | 2:36 AM ET
    A pedestrian passes the entrance to Royal Bank of Scotland's headquarters in London.

    The British Chancellor is expected to lay out plans for privatizing Royal Bank of Scotland next week, people familiar with the situation told the FT.

  • NEW DELHI— India's central bank cut a key interest rate by a quarter percentage point Tuesday, the third such reduction this year in support of government efforts to boost growth. That made India the world's fastest growing major economy, overtaking China's 7 percent growth in the same quarter. India's stubbornly high inflation has moderated in recent months...

  • MUMBAI, June 2- India's central bank cut interest rates for a third time this year on Tuesday, taking advantage of subdued inflation to give more support to an economy that many economists doubt is doing as well as latest impressive growth numbers suggest. The reduction showed policymakers recognized the need to put the economy on a sounder footing, regardless...

  • DIARY- Top Economic Events to June 15 Monday, 1 Jun 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve Board Governor Lael Brainard speaks on the U.S. economic outlook and monetary policy at the Center for Strategic and International Studies- 1400 GMT. PARIS- Organisation for Economic Cooperation and Development Forum 2015. PARIS- European Central Bank board member Daniele Nouy speaks at the panel discussion "Unlocking...

  • LAGOS, Nigeria— Financial crime agents arrested 21 bankers including senior executives of the Central Bank of Nigeria for the theft of $33 million worth of defaced naira currency notes, Nigerian officials said Monday. The fraud involved using cut-up pieces of newspaper to replace notes in Nigeria's naira currency that had been designated for destruction at...

  • WASHINGTON, June 1- First Tennessee Bank agreed to pay $212.5 million to resolve a case involving Federal Housing Administration- insured mortgage lending, the U.S. Justice Department said on Monday. Benjamin Mizer of the Justice Department's Civil Division said First Tennessee's "reckless underwriting has resulted in significant losses of federal funds...

  • TORONTO, June 1- Financial regulators need to be on guard against the threat of future financial crises, particularly as banks boost pressure to roll back rules designed to shore up the financial system, a top Federal Reserve official said on Monday. "Regulations have been strengthened and the bankers' backlash is both evident and making headway," Fed Vice...

  • Stifel in lead to buy Barclays' US wealth unit Monday, 1 Jun 2015 | 7:22 AM ET
    Stifel

    Stifel Financial is in advanced negotiations to acquire Barclays' U.S wealth management unit, according to three people familiar with the situation.

  • AMSTERDAM/ PARIS/ DUBLIN, June 1- Across the euro zone, bank compliance officers dream about saying "No" to their new regulator in Frankfurt. The European Central Bank is living up to its promise of being an intrusive and hands-on banking supervisor with a constant demand for data, including minutes of board meetings and regular on-site visits.

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