An outflow of deposits would reverse a five-year trend of large amounts of cash pouring into banks thanks to the Fed, the FT reports.» Read More
Bank of America Corp. fell$. 33 or 2.1 percent, to $15.25. Citigroup Inc. fell $1.08 or 2.2 percent, to $48.91. Goldman Sachs fell $2.89 or 1.6 percent, to $172.87.
NEW YORK, July 31- Banks gave Puerto Rico's electric power authority a two-week extension on $671 million in revolving loan facilities on Thursday as the troubled authority negotiates with creditors over its vital near-term cash needs. Of that, $146 million was due to Citigroup Inc on Thursday.
WASHINGTON— Companies overseeing millions of mortgage loans appear to be skirting new federal regulations and legal settlements intended to stop them profiteering at the expense of troubled homeowners.
LISBON/ LONDON, July 31- Portugal's hopes of drawing a line under the financial and governance troubles of Banco Espirito Santo were dashed on Thursday as investors took fright at massive losses and revelations of potential illegal activity at the country's largest listed bank.
LONDON, July 31- Gold fell to a six-week low on Thursday and was set for its second monthly drop since May as the dollar rose on optimism over the U.S. economy, which offset a message from the Federal Reserve that it is in no rush to raise interest rates.
*Coming up: U.S. Weekly jobless claims at 1230 GMT. LONDON, July 31- Gold held below $1,300 an ounce on Thursday and was set for its second monthly drop in three as optimism over the U.S. economy curbed demand, offsetting a message from the Federal Reserve it is in no rush to raise interest rates.
BERLIN, July 31- German fashion house Hugo Boss on Thursday reported second-quarter sales rose 5 percent, helped by its strategy of running more of its own stores. Best known for its men's suits, Hugo Boss is banking on investment in womenswear to drive future growth.
*Coming up: U.S. Weekly jobless claims at 1230 GMT. LONDON, July 31- Gold held below $1,300 an ounce on Thursday and was set for its second monthly drop in three as optimism over the U.S. economy curbed demand, offsetting a message from the Federal Reserve it is in no rush to raise interest rates. Spot gold was flat at $1,295.10 an ounce by 1021 GMT.
July 30- General Electric Co's credit card unit, Synchrony Financial, raised $2.88 billion in the biggest initial public offering so far this year, the company said on Wednesday.
Bank of America Corp. rose$. 24 or 1.6 percent, to $15.58. Citigroup Inc. rose$. 58 or 1.2 percent, to $50.00. Goldman Sachs rose$. 22 or. 1 percent, to $175.76.
July 30- The Federal Reserve carried on its merry tapering on Wednesday, and though the accompanying statement was probably rightly viewed as dovish it signals a potential sting down the road. For now, Fed policy looks set to continue to support risk assets, with a less certain and probably less strong impact on Main Street.
*Results hit by weak Latin America, disappointing N. America. MILAN, July 30- Fiat plans to review its leasing and sales incentive practices in North America to boost margins in the region as it seeks to meet its global full-year targets despite persistent weakness in Latin America and further losses in Europe.
Bank of America Corp. rose$. 09 or. 6 percent, to $15.43. Citigroup Inc. rose$. 43 or. 9 percent, to $49.85. JPMorgan Chase rose$. 09 or. 2 percent, to $58.73.
*Manufacturing growth in China expands. LONDON, July 30- Lead prices fell on Wednesday as investors took profits after a rally this month, but a brighter global economic outlook is seen providing support to industrial metals. Part of that is driven by improving macro sentiment, "said commodity analyst Ivan Szpakowski of Citi in Shanghai.
Bank of America Corp. rose$. 13 or. 8 percent, to $15.47. Citigroup Inc. rose$. 74 or 1.5 percent, to $50.16. Goldman Sachs rose$. 83 or. 5 percent, to $176.37.
LONDON, July 30- Miscreant bankers face having their bonuses clawed back for up to seven years after their award under measures set out on Wednesday by the Bank of England, as it tightens its regulatory clampdown on wrongdoing in the financial sector.
MILAN, July 30- Italy paid record low yields on Wednesday to sell five- and 10- year bonds as large redemption flows and expectations of further monetary easing in the euro area helped feed demand.
*Manufacturing growth in China expands. LONDON/ SYDNEY, July 30- Lead and zinc fell on Wednesday as investors took profits after a rally by both metals this month, but a brighter global economic outlook could see industrial metals resuming their rise. Part of that is driven by improving macro sentiment, "said commodity analyst Ivan Szpakowski of Citi in Shanghai.
LONDON, July 30- The euro fell below $1.34 on Wednesday for the first time since last November before German inflation data that was likely to add to the case for the European Central Bank pumping more money into a moribund economy.
NEW YORK/ BUENOS AIRES, July 29- Several hours of negotiations between Argentine officials and holdout investors ended without a resolution, Economy Minister Axel Kicillof said in New York on Tuesday, just a day before the nation faces a possible default. If a deal is not reached, Argentina faces another default on its sovereign obligations.