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Finance Banks

  • SYDNEY, Aug 3- The Australian government on Thursday accused the country's biggest mortgage lender, Commonwealth Bank of Australia, of widespread breaches of money-laundering and counter-terrorism financing rules. Australia's biggest mortgage lender failed to report suspicious matters "either on time or at all involving transactions totalling over A...

  • Bill Fitzpatrick of Manulife Asset Management says the bank isn't being overly cautious by deciding to not resume issuing dividends.

  • Louis Fed President James Bullard is opposed to further U.S. interest rate increases by the central bank and warned that more hikes could hinder domestic inflation from achieving the Fed's 2- percent goal, Market News International reported on Wednesday. President Donald Trump grudgingly signed into law new sanctions against Russia on Wednesday, a move...

  • FRANKFURT- ECB Governing Council meeting. THURSDAY, AUGUST 3 LONDON- Bank of England announces rate decision and publishes the minutes of the meeting after the rate decision and also Bank of England to release Inflation Report- 1100 GMT. SIOUX FALLS, South Dakota- Federal Reserve Bank of Minneapolis President Neel Kashkari participates in a moderated...

  • FRANKFURT- ECB Governing Council meeting. THURSDAY, AUGUST 3 LONDON- Bank of England announces rate decision and publishes the minutes of the meeting after the rate decision and also Bank of England to release Inflation Report- 1100 GMT. SIOUX FALLS, South Dakota- Federal Reserve Bank of Minneapolis President Neel Kashkari participates in a moderated...

  • LONDON, Aug 3- The Bank of England looks set to keep interest rates at a record low once again on Thursday with investors looking for signs that, faced with Brexit, it is getting nearer to raising rates for the first time in a decade. When they last met in June, Governor Mark Carney and his fellow rate-setters voted by a narrow 5-3 margin to keep Bank Rate at 0.25 percent.

  • Lawsuit says Wells Fargo auto insurance charges were a fraud

    The lawsuit filed on Sunday is the latest Wells Fargo scandal, following an incident where the bank's employees created millions of unauthorized customer accounts to meet sales goals.

  • NEW YORK/ SINGAPORE, Aug 2- Standard Chartered is planning to launch an energy trading business in New York, two sources familiar with the matter said, in what appears to be the first major bank move into the sector in the United States after years of retreat on Wall Street due to cutbacks and stricter regulation. The British bank has hired Matthew Hastings, a former...

  • WASHINGTON, Aug 2- Big banks say tight U.S. financial regulation forces them to sit on capital and not put money to work by making loans, but in truth they choose to distribute all of their earnings to investors instead of lending them, a long-time regulator said in a letter to two powerful senators released on Wednesday. Federal Deposit Insurance Corporation Vice...

  • NEW YORK/ LONDON, Aug 2- Gold rose on Wednesday, nearing seven-week highs as the dollar fell to a 15- month low and U.S. data showed fewer-than-expected new jobs in July, bringing into question chances of the Federal Reserve raising interest rates in the coming months. 1:50 p.m. EDT, just below Tuesday's high of $1,273.97, the highest since June 14.

  • WASHINGTON, Aug 2- Oil and gas loans are weighing down bank balance sheets and they could cost Wall Street even more if the economy sours, according to a study released on Wednesday by U.S. regulators. A drop in oil prices in 2014 exposed risky credits that still exist for leading lenders, according to the Shared National Credit review of loans held among several...

  • A protester outside a Wells Fargo branch in New York City.

    A new lawsuit accuses Wells Fargo of racketeering and fraud after the bank admitted to charging thousands of borrowers for auto insurance.

  • NEW YORK, Aug 2- New York state's banking and insurance regulator issued subpoenas on Tuesday to two Wells Fargo& Co units after the bank said it had sold auto insurance to hundreds of thousands of customers who did not need it. The New York Department of Financial Services is demanding Wells' loan contracts with New York borrowers, its financing agreements with...

  • WASHINGTON, Aug 2- Big banks say tight U.S. financial regulation forces them to sit on capital and not put money to work by making loans, but in truth they choose to distribute all of their earnings to investors instead of lending them, a long-time regulator said in a letter to two powerful senators released on Wednesday. Federal Deposit Insurance Corporation Vice...

  • NEW YORK, Aug 2- The U.S. dollar hit its lowest level against the euro in more than 2-1/ 2 years on Wednesday on doubts about another Federal Reserve interest rate increase this year and expectations for European Central Bank hawkishness. The euro hit $1.1868, its highest level against the dollar since January 2015. Louis Federal Reserve President James Bullard...

  • LONDON, Aug 2- Gold prices held near seven-week highs on Wednesday after data showed fewer new jobs than forecast were created in the United States in July, bolstering expectations that the Federal Reserve will be cautious about raising interest rates. It touched $1,273.97, the highest since June 14, on Tuesday, having risen nearly 6 percent from a low in early...

  • *Policy rate now 6.0 pct, lowest since November 2010. MUMBAI, Aug 2- The Reserve Bank of India on Wednesday used the room provided by slumping inflation to cut its main policy rate- the first easing by an Asian central bank this year- but it kept the market guessing on whether there's more space for trimming. The rate cut will likely ease some of the pressure from the...

  • *Policy rate now 6.0 pct, lowest since November 2010. MUMBAI, Aug 2- The Reserve Bank of India on Wednesday used the room provided by slumping inflation to cut its main policy rate- the first easing by an Asian central bank this year- but it kept the market guessing on whether there's more space for trimming. The rate cut will likely ease some of the pressure from the...

  • *Q2 group profits and revenues fall. PARIS, Aug 2- Societe Generale underperformed its French banking rivals in equities trading in the second quarter, reporting lower revenue from that business while BNP Paribas and Natixis achieved significant gains. Overall, France's second biggest bank on Wednesday reported a 28 percent fall in second-quarter net profit...

  • How SocGen has disappointed markets, but where are the bright spots?

    CNBC's Gemma Acton reports from Paris, France, on Societe Generale's second-quarter results, with comment from Deputy CEO Severin Cabannes.

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