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Finance Banks

  • Secretary of the Treasury Steven Mnuchin (right) and National Economic Director Gary Cohn answer questions about President Trump's tax reform plan on April 26, 2017.

    CNBC's Dominic Chu talks to Wall Street traders about the top issues they are eyeing in Washington.

  • Warren Buffett

    Berkshire said it would swap its preferred shares in Bank of America to buy 700 million common shares, following the bank's plan to raise its dividend.

  • June 30- Warren Buffett's Berkshire Hathaway Inc said it would exercise its warrants to buy 700 million common shares of Bank of America Corp, making it the largest shareholder of the lender. The conglomerate said it expected to use $5 billion of Bank of America's 6 percent preferred stock that it currently owns to fund the acquisition. Buffett had bought $5...

  • TOKYO, June 30- Japan's central bank issued a rare apology on Friday over a board member's praise for Adolf Hitler's economic policies. Yutaka Harada, a member of the board of the Bank of Japan, told a seminar on Thursday Hitler's economic policies had been "appropriate" and "wonderful" but had enabled the Nazi dictator to do "horrible" things to the world.

  • LONDON, June 30- Britain's Lloyds Banking Group said on Friday that it has stopped trading Qatari riyals and that the currency is no longer available for sale or buy-back at its high-street banks. "This currency is no longer available for sale or buy-back across our high street banks including Lloyds Bank, Bank of Scotland and Halifax," the spokeswoman said.

  • Tech wreck could 'bleed' into rest of the market: ProShare's Simeon Hyman

    Chris Retzler, Needham Growth Fund, and Simeon Hyman, ProShares Advisors, provide their position on earnings, the tech sector, and small cap stocks.

  • JOHANNESBURG, June 30- South African Finance Minister Malusi Gigaba on Friday accused the country's anti-corruption agency of overstepping the mark in suggesting changes to the way the central bank works, insisting that monetary policy should remain independent. A call by South Africa's public protector for an overhaul of Reserve Bank's mandate-- to focus...

  • MOSCOW, June 30- Russia's finance ministry expects the country's largest bank, Sberbank, to sharply increase its dividends over the next three years, according to ministry budget forecasts seen by Reuters. The finance ministry expects the budget to receive 150 billion roubles in dividends from state-controlled Sberbank next year, versus the 67.8 billion...

  • BEIJING, June 30- China's central bank said on Friday that its holdings of short foreign currency positions in forwards and futures versus the yuan shrank in May. The People's Bank of China held $6.044 billion of such positions with commercial banks as of the end of May, down from $11.544 billion one month earlier, official data showed. Friday's data also showed...

  • SINGAPORE, June 30- The euro traded near a 14- month high on Friday and was on track for its best quarter in nearly 7 years, lifted by growing expectations that the European Central Bank is preparing to scale back its monetary stimulus. The euro has risen rapidly after Tuesday's speech by European Central Bank President Mario Draghi bolstered expectations for...

  • *Asia ex- Japan, Nikkei fall on risk aversion but up for quarter. SINGAPORE, June 30- The dollar extended its losses on Friday as major central banks signalled that the era of cheap money was coming to an end in a boon to sterling, the euro and the Canadian dollar, while Asian shares were hit by dismal performances of European and U.S. markets. "International markets...

  • SINGAPORE, June 30- The dollar languished near a nine-month low against a basket of currencies on Friday, bogged down by growing expectations of more hawkish monetary policies in Europe and Canada and doubts about another U.S. interest rate increase this year. The euro has risen rapidly following Tuesday's speech by European Central Bank President Mario...

  • *Asia ex- Japan, Nikkei fall on risk aversion but up for quarter. SINGAPORE, June 30- The dollar extended its losses on Friday as major central banks signalled that the era of cheap money was coming to an end in a boon to sterling, the euro and Canadian dollar, while Asian shares were hit by dismal performances of European and U.S. markets. "International markets...

  • LONDON, June 29- Bank of England chief economist Andy Haldane said on Thursday that the central bank needed to "look seriously" at raising interest rates to keep a lid on inflation which has pushed past the BoE's target and is set to rise further. "We need to look seriously at the possibility of raising interest rates to keep the lid on those cost of living increases,"...

  • James Gorman, chief executive of Morgan Stanley.

    James Gorman, chairman and CEO of Morgan Stanley, said he sees a solid case for bank stocks.

  • DUBAI, June 30- Qatar's central bank said on Friday it will guarantee all exchange transactions for customers inside and outside Qatar without delay, adding that all banks and foreign exchange companies are committed to trading the riyal as usual. "Qatari riyal's exchange rate is absolutely stable against the U.S. dollar, and its exchangeability inside and...

  • WASHINGTON, June 29- The Federal Reserve said on Thursday it would release its semiannual monetary policy report on July 7, five days before Fed Chair Janet Yellen testifies to Congress. In a brief statement, the Fed said the advanced release would allow members of Congress and the public time to review the report before Yellen's appearance.

  • *Sterling climbs to five-week high above $1.30. NEW YORK, June 29- The euro and sterling rose on Thursday and U.S. bond yields spiked as hawkish comments from central banks signaled an end to ultra-loose monetary policy on both sides of the Atlantic, while technology shares dragged Wall Street stocks lower. "Part of the reason why tech is down today is the steam in the...

  • JPMorgan Chase and Co. chairman and CEO Jamie Dimon.

    Wall Street expects bank stocks to climb, now that the Federal Reserve has approved big increases in plans to return capital to shareholders.

  • WASHINGTON, June 29- Federal Reserve Chair Janet Yellen will testify on the U.S. central bank's semiannual report on the economy and monetary policy before the House of Representatives Financial Services Committee on July 12, the committee said on Thursday.

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