Finance Banks

  • *U.S.- China trade talks hit a snag. LONDON, March 20- The dollar rose on Wednesday, attracting safe-haven bids after reports of further tension in U.S.- China trade negotiations, but its gains were slight, with caution expected from the Federal Reserve at its policy meeting later in the day. The negative impact on the dollar from the pause in the Fed's...

  • March 20- Saudi Arabia's stock market dropped on Wednesday as its banks fell, while most major Gulf markets also slid, mirroring global cues ahead of a decision by the U.S. Riyad Bank slipped 1.8 percent as the lender traded ex-dividend, while Saudi's largest lender National Commercial Bank shed 1 percent. The kingdom's largest food products company Savola...

  • TOKYO, March 20- Asian shares got off to a cautious start on Wednesday, holding close to six-month highs on hopes the U.S. MSCI's broadest index of Asia-Pacific shares outside Japan ticked down 0.1 percent from a six-month high touched the previous day. Since the beginning of year, Fed Chairman Jerome Powell has said the central bank would be patient- interpreted...

  • NEW YORK, March 19- U.S. "We firmly believe that the Fed will remain on hold- and that's pretty much priced in if you look at bond futures markets," said Andrew Dassori, chief investment officer at Wavelength Capital Management. In February, Fed Chair Jerome Powell also said the central bank would stop shrinking its balance sheet later this year.

  • *Pound pressured as Britain's May tries to agree Brexit extension. NEW YORK, March 19- The U.S. dollar slipped against a basket of major currencies on Tuesday, as concerns over the U.S. economy and expectations that the Federal Reserve will prove accommodative at a meeting this week weighed on the greenback. "What we are seeing is the market positioning for...

  • FRANKFURT/ LONDON, March 19- Wintershall DEA's owners are expected to shortly mandate banks for a bumper 2020 stock market listing of the European oil and gas company in a sign that the deal could take place earlier than anticipated, people close to the matter said. With core earnings of 2.8 billion euros in 2017, Wintershall DEA could be valued at around 15...

  • BRUSSELS, March 19- European Union judges ruled on Tuesday that Italy's rescue plan for an ailing bank five years ago was legal, prompting calls for compensation for savers who subsequently faced stricter terms because Brussels had rigidly interpreted the bloc's rules. The decision could also have repercussions for the Commission's assessment of banking...

  • *U.S. central bank to start two-day policy meeting. LONDON, March 19- The Japanese yen rose on Tuesday, benefiting from a U.S. dollar hit by concern over the U.S. economy and expectations that the Federal Reserve will prove accommodative at a meeting this week. The euro also profited from the weaker dollar, adding 0.2 percent to $1.1348.

  • BRUSSELS, March 19- European Union judges ruled on Tuesday that Italy's rescue plan for ailing Tercas bank five years ago was legal and annulled a European Commission decision that rejected the plan and forced Rome to recoup financial aid to the lender. The rescue of Tercas bank, which was sold to Banca Popolare di Bari as part of the plan, was orchestrated by...

  • HSBC: There's 'perfect synergy' between us and fintech firms

    Andy Maguire of HSBC discusses the benefits that banks and financial technology firms gain by working together. He says HSBC can help start-ups to understand the "real problems" better, while the bank gets pushed along to be less bureaucratic.

  • Joey Kim of People Fund explains how the company has worked with banks, the government and KakaoPay. People Fund's user base grew threefold since it partnered with KakaoPay, he says.

  • *MSCI's EM stocks index hits 6-1/ 2 month peak. March 19- Emerging market stocks hit a six and a half month peak on Tuesday and developing world currencies firmed against a soft dollar on expectations the U.S. Dovishness from the European Central Bank and the Fed is spurring emerging market sentiment as developing world central banks have become less worried...

  • BRUSSELS, March 19- European Union judges ruled on Tuesday that Italy's rescue plan for ailing Tercas bank in 2014 was legal and annulled a European Commission decision that rejected the plan and forced Rome to recoup financial aid to the lender. The rescue of Tercas bank, which was sold to Banca Popolare di Bari as part of the plan, was orchestrated by Italy's...

  • HONG KONG, March 19- Hong Kong stocks inched higher on Tuesday ahead of a U.S. **At the close of trade, the Hang Seng index was up 0.2 percent at 29,466.28 points, while the Hang Seng China Enterprises index rose 0.1 percent. **Global markets appear to expect the U.S. central bank to pause from hiking rates, after Chairman Jerome Powell made a pledge to stick to a "patient"...

  • BERLIN/ FRANKFURT, March 18- German lawmakers have criticised deputy finance minister Joerg Kukies and Goldman Sachs, alleging a conflict of interest in the U.S. investment bank advising state-backed Commerzbank on a possible merger with Deutsche Bank. Kukies, who was formerly co-head of Goldman Sachs in Germany, left the Wall Street firm a year ago to become...

  • *India gearing up for general election starting April. *India one of world's fastest-growing aviation markets. NEW DELHI, March 19- India's government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses weeks before a general election, two...

  • A lot of reasons Deutsche-Commerzbank merger may not work, academic says

    Sascha Steffen, professor of finance at Frankfurt School of Finance and Management, discusses the potential merger between Deutsche Bank and Commerzbank.

  • *Investors eye Germany's ZEW expectation index. LONDON, March 19- The Japanese yen rose on Tuesday, benefiting from a U.S. dollar hit by concern over the U.S. economy and expectations that the Federal Reserve will prove accommodative at a meeting this week. The euro also profited from the weaker dollar, adding 0.2 percent to $1.1348.

  • FRANKFURT, March 19- Bank mergers in Germany are an effective tool to reduce costs but any deal will require a sustainable business model, Bundesbank board member Joachim Wuermeling said on Tuesday. Wuermeling's comments come just days after Deutsche Bank and Commerzbank, Germany's top two lenders, announced they were in merger talks. Wuermeling, without...

  • Germany, Frankfurt, Hesse, Skyline

    Germany seems to be obsessed with the idea of creating a national banking champion.

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