Chinese officials will be in Washington on Wednesday to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Europe's banks are under siege from digital disruption, and must make huge IT investments to remain competitive, according to a report out on Monday.
Deloitte wrote that established retail banks would have to cut costs, as deposit guarantees and new technology lowered barriers for new-style entrants into the industry.
Two years ago, Royal Bank of Scotland suffered a computer crash that strung on for days, meaning customers could not deposit or make payments. And earlier this year, NatWest suffered a breakdown in its mobile banking service.
"Banks' core competitive advantages over new entrants are being eroded by technology and regulation," said Zahir Bokhari, lead banking partner at the professional services firm, in the report.
"As competition from alternative sources of funding intensifies, banks will need to re-invent their technology infrastructure. It is not credible to anticipate healthy returns while operating inflexible IT systems based on 1970s technology."
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Since the 2007-08 financial crisis, regulatory policy has shifted in favor of competition for established banks. Plus, off-the-shelf software means a small bank can cost under £10 million ($17 million) to establish and just £5 million a year to run, according to Deloitte.
Banks are also under threat from electronic payment providers like PayPal, which provide convenience to customers as the use of cash diminishes. Cash-rich internet players, such as Google and Apple, are also demonstrating an interest in this space.
Meanwhile, new technology has enabled non-bank financing on a far smaller level, via peer-to-peer (P2P) lenders like the U.K.'s Funding Circle.
The U.K. alternative funding market—which includes crowdfunding, P2P and peer-to-business lending and invoice trading—will raise £1.6 billion in 2014 and provide £840 million worth of business finance, according to a report by charity Nesta.