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
Biologic drugmaker Amgen said Tuesday that it will lay off 12 to 15 percent of its worldwide workforce and close four sites, even as it reported stellar second-quarter results that trounced Wall Street expectations. Amgen also raised its forecasts for its 2014 profit and revenue, driving up its shares.
Aetna's second-quarter profit climbed more than 2 percent, as gains from an acquisition helped the health insurer top expectations and raise its 2014 earnings forecast again.
*Renault cost-cutting boosts margin as sales decline. PARIS, July 29- Renault made progress towards a core profitability goal as cost-cutting helped to counter currency headwinds in the first half, the French carmaker said, but sales and cash flow suffered ahead of the replacement of key models.
Bank of America Corp. fell$. 09 or. 6 percent, to $15.50. Citigroup Inc. fell$. 33 or. 7 percent, to $49.70. Goldman Sachs rose$. 55 or. 3 percent, to $175.95.
NEW YORK, July 28- A U.S. judge on Monday said Citigroup Inc could make a one-time interest payment on Argentina bonds governed by that country's law, and which are held by creditors that participated in the country's prior debt restructurings.
Bank of America Corp. fell$. 12 or. 8 percent, to $15.47. Citigroup Inc. fell$. 37 or. 7 percent, to $49.66. US Bank fell$. 37 or. 9 percent, to $42.38.
Bank of America Corp. fell$. 06 or. 4 percent, to $15.53. Citigroup Inc. fell$. 15 or. 3 percent, to $49.88. Goldman Sachs rose$. 01 or percent, to $175.41.
LONDON— Lloyds Banking Group is paying $369 million to U.S. and British authorities to settle allegations it manipulated a key global interest rate.
*UK break-up seen as outside chance. Last week saw the first glimmer of action in currency markets to protect against the possibility of Scotland voting on Sept. 18 to break away from the United Kingdom.
NEW YORK, July 25- A former middle manager at Citigroup's Banamex unit in Mexico denied he was involved in abetting a corporate loan fraud involving oil pipeline maintenance company Oceanografia.
The Securities and Exchange Commission announced the settlement with Citigroup's LavaFlow Inc. on Friday. The settlement includes a $2.85 million penalty, the largest the SEC has imposed on an alternative trading system.
NEW YORK, July 25- A business unit of Citigroup will pay $5 million to settle civil charges that one of its private trading venues violated federal law by failing to protect clients' confidential trading data, U.S. regulators said on Friday.
A Citigroup unit will pay $5 million to settle charges that one of its trading venues failed to protect clients' confidential trading data.
WASHINGTON, July 25- A business unit of Citigroup will pay $5 million to settle civil charges that one of its private trading venues violated federal law by failing to protect its clients' confidential trading data, U.S. regulators said Friday.
The licence for New Kansai International Airport, which will be bundled with the operating rights for smaller Osaka International Airport, should fetch at least 2 trillion yen, Keiichi Ando, the chief executive of the government-owned New Kansai International Airport Co, told reporters.
July 25- U.S. companies are reporting sluggish financial results in Latin America, showing the risks they face in relying on Brazil and other emerging markets in the region for growth. Several companies reported tepid performance in Brazil, the biggest economy in Latin America, where some economists fear the country is on the verge of a recession.
Upbeat China data may have allayed fears about its economy, but PNC Financial Services is cautious, warning of a "perfect storm" that could surface.
WASHINGTON, July 24- A U.S. Senate panel will meet next Thursday to discuss results of a much anticipated government study that looked at whether the biggest banks can borrow at lower interest rates because investors think they would be bailed out in a crisis.
China's slowing property market tops the list of major economic risks, but some say the sector's stocks are "dirt cheap" and now is the time to buy.
Bank of America Corp. rose$. 10 or. 6 percent, to $15.62. Citigroup Inc. fell$. 09 or. 2 percent, to $50.09. Goldman Sachs fell$. 56 or. 3 percent, to $176.26.