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Finance Banks

  • NEW YORK— President Donald Trump added economic action to his fiery military threats against North Korea on Thursday, authorizing stiffer new sanctions in response to the Koreans' nuclear weapons advances. The exchange of super-heated rhetoric and unusually personal abuse between the adversaries will escalate tensions that have been mounting as North...

  • TORONTO, Sept 21- Canada's main stock index extended a 14- week high on Thursday, helped by gains for heavyweight banking and energy stocks. "Technically, everything looks like it's setting up for a break-out," said Bryden Teich, a portfolio manager at Avenue Investment Management. Utilities, which had fallen sharply in the wake of the Bank of Canada's interest rate...

  • *Norway's central bank signals quicker path to rate hike. It is just telling in terms of where the sentiment is for the U.S. dollar, "said Erik Nelson, currency strategist at Wells Fargo Securities in New York. "Yes, the Fed has just told us they are going to continue tightening policy, but the likes of the European Central Bank, the Bank of Canada and even the Bank of...

  • Mnuchin: Seeking to complete denuclearization of North Korea

    CNBC's Eamon Javers reports on Treasury Secretary Steve Mnuchin's press conference announcing new sanctions against North Korea.

  • *Also plans to trim asset holdings in $4.2 trillion portfolio. NEW YORK/ LONDON, Sept 21- Gold fell about 1 percent to its lowest in nearly four weeks on Thursday, shrugging off further weakness in the dollar, after the Federal Reserve signalled it was on track to raise U.S. interest rates again in December. Spot gold was down 0.7 percent at $1,291.46 an ounce since late...

  • Wells Fargo issues first outlook for 2018 from Wall Street and it's not bullish

    The Wells Fargo Investment Institute issues its 2018 year-end target range for the S&P 500.

  • Federal Reserve Board Chairwoman Janet Yellen speaks during a news conference following a meeting of the Federal Open Market Committee September 20, 2017 in Washington, DC.

    If the Fed were a private financial institution, it would be insolvent, says equity research analyst Dick Bove.

  • NEW YORK/ WASHINGTON, Sept 21- From her early days as Federal Reserve chair, Janet Yellen has been the target of criticism from Republicans worried that the central bank's massive bond-buying programs and near-zero interest rates engineered by her predecessor would be the ruin of the country. With little more than four months left in her term and questions...

  • North Korea has compelling need to conduct more missile tests: Sung-Yoon Lee

    Sung-Yoon Lee, Korean studies professor at The Fletcher School at Tufts University, discusses whether China will follow through with the U.S.'s sanctions for foreign banks to cut off transactions from North Korea.

  • LONDON, Sept 21- Banking shares drove European bourses higher on Thursday after the U.S. The pan-European STOXX 600 ended up 0.3 percent while euro zone stocks and blue-chips rose 0.4 percent as the U.S. central bank's optimism on the economy stoked renewed enthusiasm for financials and cyclical sectors in Europe. Banks, the biggest gainers from interest rate...

  • WASHINGTON, Sept 21- Wells Fargo Chief Executive Tim Sloan is due to testify before Congress on Oct. 3 as the bank deals with fallout from a sales scandal a year ago that continues to spark new revelations. Sloan will appear before the Senate Banking Committee, which writes rules for his industry, at a hearing titled "Wells Fargo: One Year Later," the panel said on...

  • *Calgon Carbon soars on $1.1 bln Kuraray buyout deal. Sept 21- U.S. stocks slipped from their all-time highs on Thursday, weighed down by Apple and the hawkish stance of the Federal Reserve, which hinted at raising interest rates for a third time this year despite low inflation. Investors were also absorbing the Fed's decision to start ending monetary stimulus by...

  • *Norway's central bank signals quicker path to rate hike. NEW YORK, Sept 21- The dollar weakened against a basket of currencies on Thursday, retreating from a more than two-week peak as bets stoked by the Federal Reserve signalling it may raise interest rates in December abated. "People were surprised that Yellen stuck with the script that weak inflation is...

  • TORONTO, Sept 21- Canada's main stock index inched higher on Thursday morning as gains for heavyweight banking stocks offset declines for gold and base metal miners hurt by the U.S. At 10:27 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was slightly higher, up 16.85 points, or 0.11 percent, at 15,406.45 as investors bought into financial stocks,...

  • KBW CEO Thomas Michaud: Positive things are happening for bank stocks

    Thomas Michaud, KBW CEO and president, discusses the moves in financial stocks this year.

  • BUDAPEST/ PRAGUE, Sept 21- Hungarian government debt yields fell to new record lows and the forint led Central European currencies lower on Thursday after the Federal Reserve signalled balance-sheet tightening and one more rate hike in 2017. Tighter Fed policy would make risky assets in emerging markets, including the European Union's eastern members,...

  • Tim Sloan, Chief Executive Officer of Wells Fargo & Company

    Wells Fargo's CEO is due to testify before the Senate Banking Committee on Oct. 3, said sources familiar with the scheduled meeting.

  • WASHINGTON, Sept 21- Wells Fargo Chief Executive Tim Sloan is due to testify before the Senate Banking Committee on Oct. 3, sources familiar with the scheduled meeting said. Senator Elizabeth Warren in a CNBC interview on Tuesday again urged the Federal Reserve to hold Wells' board accountable following the fresh disclosure. Sloan's predecessor John Stumpf had...

  • WASHINGTON, Sept 21- Tim Sloan, the chief executive officer of Wells Fargo, is due to testify before the Senate Banking Committee on October 3, said sources familiar with the scheduled meeting.

  • WELLS FARGO CEO EXPECTED TO TESTIFY BEFORE SENATE BANKING COMMITTEE ON OCT. 3- SOURCES FAMILIAR WITH HEARING.

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