The FDIC sued 16 of the world's largest banks on Friday, accusing them of collusively suppressing interest rates, Reuters reported.» Read More
Industry-wide investigations into alleged exchange rate manipulation, trading scandals at UBS, Societe Generale and JPMorgan and HSBC's $1.9 billion fine for lax money-laundering rules have upped the ante for banks already under pressure to curb reckless behaviour that led to the financial crisis.
*Iran wants economic sanctions lifted. LONDON/ ANKARA, March 13- Despite a diplomatic thaw, Western banks are steering clear of attempts by Iran to get them involved in financing humanitarian transactions, fearing they could be penalised under U.S. sanctions, bankers and government officials told Reuters.
LONDON, March 14- Britain will sell slightly fewer government bonds in its coming fiscal year as stronger economic growth and better public finances reduce its borrowing needs, a Reuters survey showed on Friday.
*Microsoft withdraws support for Windows XP on April 8. LONDON/ NEW YORK, March 14- Banks around the world, consumed with meeting more stringent capital regulations, will miss a deadline to upgrade outdated software for automated teller machines and face additional costs to Microsoft to keep them secure.
*Gold headed for sixth straight weekly gain. LONDON, March 14- Gold prices reached their highest level in six months on Friday, benefiting from stumbling share prices hit by tensions between Russia and the West over Ukraine and growth concerns in China.
*Gold headed for sixth straight weekly gain. LONDON, March 14- Gold rose to a six-month high above $1,380 an ounce on Friday and was headed for its biggest weekly gain in four, buoyed by lower equity markets on mounting tensions between Russia and the West over Ukraine and worries of an economic slowdown in China.
*Highest earner is investment bank chief Andrea Orcel. ZURICH, March 14- UBS hiked Chief Executive Sergio Ermotti's pay by more than a fifth in 2013, when the Swiss bank added probes into its metals trading and foreign exchange businesses to a long list of legal troubles.
MOSCOW, March 14- Russia's central bank on Friday kept lending rates on hold after raising them two weeks ago and said it would fight for financial stability after the standoff with the West over Crimea, which has sent the rouble and stocks tumbling.
*Iran wants economic sanctions lifted. LONDON/ ANKARA, March xx- Despite a diplomatic thaw, Western banks are steering clear of attempts by Iran to get them involved in financing humanitarian transactions, fearing they could be penalised under U.S. sanctions, bankers and government officials told Reuters.
*Chilean peso rebounds after near 5- year lows on China concerns. NEW YORK, March 12- Emerging market currencies rose moderately on Wednesday, rebounding from earlier losses as investors remained nervous over China's economy and Ukraine's future, supporting safe-haven demand for the yen and the Swiss franc.
*Chilean peso hits near five-year lows on China concerns. NEW YORK, March 12- Emerging market currencies fell on Wednesday as investor nervousness over China's economy and Ukraine's future intensified, rekindling safe-haven bids for the yen and the Swiss franc.
*Risk appetite curbed by worries over China, Ukraine. LONDON, March 12- The Australian dollar and other currencies closely linked to commodities markets struggled on Wednesday after a 5 percent fall in copper prices overnight on fears of fading demand from China.
MOSCOW, March 12- Russia's central bank will probably keep key policy rates on hold at its regular meeting on Friday, economists say, but any escalation of tensions over Ukraine could prompt a further tightening in monetary policy.
*Fidelity publicly criticises Barclays over bonus rise. *Barclays has said it needs to raise bonuses to keep staff in US. LONDON, March 11- Barclays faces a backlash from shareholders over its decision to raise bonuses despite a fall in profits, with investors increasingly demanding CEO Antony Jenkins give more money to them and less to his staff.
BEIJING, March 11- China's central bank governor said on Tuesday that the country's deposit rates are likely to liberalised in one to two years- the most explicit timeframe to date for what would be the final step in freeing up banks to set their own interest rates.
*Decision due on Wednesday, March 12, at 0730 GMT. BANGKOK, March 11- Thai policymakers will cut the country's benchmark interest rate on Wednesday to help the economy cope with the damage from months of political unrest, according to a majority of economists polled by Reuters.
--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, March 11- The reaction of commodities to the Chinese trade data show that sentiment and fundamentals are diverging, with the fear trade winning so far.
CHICAGO, March 10- While it is hard to knock the advice of Warren Buffett, whose annual letter to Berkshire Hathaway Inc shareholders recently lofted down from the mountain of capitalism, some of his tips can be tweaked.
RIO DE JANEIRO/ LONDON, March 10- Emerging stocks fell over 1 percent on Monday after poor Chinese export data re-ignited global concerns of a slowdown in the world's No. 2 economy and pushed Chinese shares to a five-year closing low.
Weekend data showed China's exports unexpectedly tumbled in February, with a near-20 percent year-on-year dip swinging the trade balance into deficit.