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  • SHANGHAI, July 6- China's yuan edged lower for the fourth consecutive session on Monday after the central bank set a weaker official guidance rate. Traders said the currency market was largely unaffected by Beijing's unprecedented moves over the weekend to prevent China's stock market from a full-blown collapse. In an extraordinary weekend of policy moves,...

  • FRANKFURT, July 5- The European Central Bank is likely to maintain emergency funding for Greek banks at its current restricted level, people familiar with the matter said on Sunday, a move that will see lenders run out of cash soon. Although a final decision has yet to be taken and the matter will be the subject of debate when ECB policy setters talk on Monday, they are...

  • NEW YORK, July 5- The overwhelming Greek rejection of a bailout is likely to boost market uncertainly, weaken the euro and trigger a stocks selloff in the near term as investors assess how the European Central Bank works to stop contagion spreading from Greece. Greece faces a July 20 deadline to repay the ECB a 3.5 billion euro bond. The reaction on financial...

  • *JPMorgan says Grexit now more likely than not. Many economists, including those at U.S. banking giant JPMorgan, reckon the outcome of Sunday's referendum will probably hasten Greece's exit from the euro. "Although the situation is fluid, at this point Greek exit from the euro appears more likely than not," JPMorgan's Malcolm Barr told clients on Sunday evening,...

  • FRANKFURT, July 5- European Central Bank policy setters are likely to maintain emergency funding for Greek banks at its current restricted level, people familiar with the matter said on Sunday, following Greece's rejection in a referendum of bailout conditions. Such a move would give Greek banks little time before they use up all of the roughly 89 billion euros...

  • MOSCOW, July 5- The Russian central bank said on Sunday that the Greek debt crisis did not pose a threat to the Russian banking system, TASS news agency reported, citing a statement from the central bank's press service. The central bank also said the size of Russian banks' assets in Greece as of April 1 this year was around $14 million. "The size of the direct...

  • The central bank set a cutoff rate of 7.73 Egyptian pounds per dollar in an auction that sold $39.6 million on Sunday, compared to a previous low of 7.63 on Thursday. "It's welcome to have, within the current context, a weaker pound because the economy is shifting toward a growth mode so one of the key ways to push this growth forward is through foreign exchange," said...

  • Greek banks plan 'haircut' on deposits Saturday, 4 Jul 2015 | 6:38 AM ET

    Greek banks are preparing contingency plans for a possible "bail-in" of depositors, sources said. The FT reports.

  • TOKYO, July 4- Japan said on Saturday it would extend around $6 billion in development aid to Mekong region countries, as China prepares to launch a new institutional lender seen as encroaching on the regional clout of Tokyo and ally Washington. Cambodia, Laos, Myanmar, Thailand and Vietnam all have strong economic growth potential, and are promising...

  • ATHENS, July 3- The Financial Times reported on Friday that Greek banks were preparing contingency plans for a possible "haircut" on deposits amid fears of financial collapse, a report the country's banking association said was "completely baseless". The head of Greece's Bank Association dismissed the report as "completely baseless". Louka Katseli, who also...

  • ATHENS, July 3- Greek banks are preparing contingency plans for a possible "haircut" on deposits amid fears of financial collapse, the Financial Times reported on Friday, ahead of a referendum that may decide the country's future in the euro zone. But citing bankers and businesspeople with knowledge of the measures, the Financial Times reported: "The plans, which...

  • LONDON, July 3- If a' No' in Sunday's referendum eventually takes Greece out of Europe's single currency, any "new drachma" or temporary payment unit could be worth as little as a fifth of the euro now in circulation. In the absence of a flow of new euros from the European Central Bank after a "Grexit", Athens' existing stock of hard currency is not expected to be enough to...

  • Greek bank closures may deplete supermarket shelves Friday, 3 Jul 2015 | 11:49 AM ET

    LONDON/ ATHENS, July 3- A halt to international payments from Greek bank accounts is hurting Greek businesses and their foreign partners and threatening supplies of vital goods like food and clothing into the debt-crippled country. With banks closed, people limited to withdrawing 60 euros per day and Greece's future in the euro possibly hinging on a...

  • *HSBC, Lloyds, RBS plan "broad" ring-fence, Barclays differs. LONDON, July 3- Barclays is planning to set up a smaller separate UK bank than rivals as British lenders finalise how to restructure to meet new rules designed to give greater protection to savers and taxpayers. Unless it makes a U-turn, Barclays will adopt a different structure to its main rivals.

  • VILNIUS, July 3- European Central Bank Vice President Vitor Constancio signaled on Friday that the ECB could loosen funding to Greek banks if Greeks vote' Yes' in a referendum on Sunday on whether or not to accept more austerity in return for aid. Constancio said the significance of the referendum was in making it more or less likely that an agreement could be...

  • Watch out for the challenger banks Friday, 3 Jul 2015 | 5:20 AM ET
    Watch out for the challenger banks

    Rishi Khosla, CEO of OakNorth Bank, talks about the impact of challenger banks on the economy.

  • RBS faces $13B bill, says court filing Friday, 3 Jul 2015 | 3:44 AM ET

    Royal Bank of Scotland faces a $13 billion bill to resolve claims it misled purchasers of mortgage-backed securities, the FT reports.

  • Brazil probes forex activity of 15 global banks Friday, 3 Jul 2015 | 3:43 AM ET
    Canary Wharf, London

    Fifteen of the world's largest banks are under investigation on suspicion of rigging the Brazilian currency, antitrust watchdog Cade said.

  • TOKYO, July 3- Japan's Nikkei share average inched up on Friday, paring earlier losses thanks to gains by banking sector shares and other large-caps, although caution ahead of a weekend Greek national vote limited overall action. Banking stocks rose across the board, lifted by a report that Sumitomo Mitsui Financial Group will create targets this fall to reduce...

  • SHANGHAI, July 3- China's yuan weakened on Friday as corporate dollar demand helped offset a stronger official guidance rate set by the central bank, traders said. The People's Bank of China set the midpoint rate at 6.1160 per dollar prior to market open, 0.02 percent firmer than the previous fix at 6.1171. Despite China's central bank cutting official interest...

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