China will lower its intervention in the currency market, reaching an understanding on an issue that has hurt ties between the U.S. and China for years.» Read More
Royal Bank of Scotland will scale back business and cut hundreds of jobs in response to Federal Reserve regulations. The FT reports.
NEW YORK, May 27- The euro softened slightly against the dollar and yen on Tuesday after stronger U.S. economic data and uncertainty persisted over possible European Central Bank monetary policy action next month.
Companies are reconsidering their approach to listings as enthusiasm for once-booming biotech and social media offerings has wavered. The FT reports.
European Union antitrust regulators charged on Tuesday HSBC, JPMorgan and Credit Agricole with rigging financial benchmarks linked to the euro.
While Japan clocked its fastest growth rate in over two years in the first quarter, economists warn it's too early to celebrate.
May 12- Citizens Financial Group Inc, the U.S. unit of the Royal Bank of Scotland, filed with U.S. regulators for an initial public offering of common stock that would raise about $100 million. Morgan Stanley, Goldman, Sachs& Co and JP Morgan are the lead underwriters for the IPO, the company said in a filing with the U.S. Securities and Exchange Commission on Monday.
NEW YORK, May 12- The euro held modest gains against the dollar and yen on Monday, unperturbed by the weekend referendum in Ukraine in which pro-Russian rebels declared victory in a self-rule vote, further escalating tensions.
Whether on Wall Street or Fleet Street, this is not a happy time for big banks.
The euro slid after strong words from European Central Bank chief Mario Draghi halted its march to a 2-1/2 year high.
NEW YORK, May 5- JPMorgan Chase& Co has won preliminary approval from a U.S. judge for its agreement to pay $280 million to resolve claims that it misled investors in billions of dollars worth of mortgage-backed securities. District Judge Pamela Chen, in Brooklyn, New York, issued the preliminary approval on Friday.
European markets closed lower in trade on Friday, despite a better-than-expected U.S. jobs number.
Part-nationalized Royal Bank of Scotland trebled its profit in the first quarter, boosted by effective cost-control and waning impairment charges.
Apart from the closely-watched U.S. monthly jobs data, latest employment figures from the world's number three economy are not to be ignored.
NEW YORK, April 29- First Horizon National Corp will pay $110 million to resolve claims it misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that later went sour, a U.S. regulator said on Tuesday. As part of the deal, First Horizon will pay $61.6 million to Fannie Mae and $48.4 million to Freddie Mac, the FHFA said.
WASHINGTON, April 28- A top U.S. regulator on Monday sharply criticized her agency for failing to revoke certain regulatory privileges afforded to the Royal Bank of Scotland Group Plc following a criminal plea deal by one of its units over manipulation of the Libor benchmark interest rate.
The 2nd U.S. Circuit Court of Appeals in New York said shareholders presented a "plausible claim" that a 12 percent drop on June 28, 2012, in the price of their American depositary shares stemmed from misrepresentations by Barclays and several officials, including one-time Chief Executive Robert Diamond.
The often cozy relationship between major institutions and the board of big corporates seems to be fracturing in many cases.
*Russian troop movements along Ukraine border raise geopolitical tensions. NEW YORK, April 24- Rising tensions along the Russia/ Ukraine border on Thursday upstaged upbeat U.S. economic data and pulled the U.S. dollar off session highs against the euro and yen as risk aversion took precedence.
The euro fell after the European Central Bank said it will be forced to ease further if the currency keeps going up.
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