Finance Banks

  • Earlier, cautious comments overnight by Federal Reserve officials about the global economic outlook, weak U.S. data and a selloff on Wall Street had knocked the dollar lower and supported the single currency. But the euro gave up is gains as European stocks fell, Italian bank shares hit a two-year low and Italian bonds sold off again amid an ongoing...

  • ZURICH, Nov 20- Swiss cooperative lender Raiffeisen on Tuesday named Heinz Huber its new chief executive as it seeks to turn the page on a series of scandals under previous management. "We're glad that, in Heinz Huber, we've won an accomplished leader as the new head of our executive management. His entrepreneurial thinking and strength in execution fully...

  • SINGAPORE, Nov 20- The dollar hit a near two-week low against its peers on Tuesday with sentiment soured by Federal Reserve caution on the global outlook and weak data at home, pointing to slower rate hikes. Last week, Fed Vice Chair Richard Clarida and Dallas Fed President Robert Kaplan raised concerns over a potential global slowdown that has seen markets...

  • BENGALURU, Nov 20- The Federal Reserve is still expected to raise interest rates again next month and three times next year, but a strong majority of economists polled by Reuters over the past week say the risk is it will slow that pace down. The probability of a U.S. recession in the next two years, while still low, also nudged up to a median 35 percent from 30 percent in...

  • LONDON, Nov 19- Federal Reserve Governor Randal Quarles is set to be appointed the new head of the Financial Stability Board in a bid to keep a skeptical United States engaged in the international body, two people with knowledge of the discussions said on Monday. Klaas Knot, president of the Dutch Central Bank, was also on the shortlist for chair and will become the...

  • NEW YORK, Nov 19- The dollar dropped to two-week lows on Monday, pressured by cautious comments about the U.S. economy from Federal Reserve officials suggesting the central bank may be nearing the end of its tightening cycle. Fed Vice Chair Richard Clarida and Dallas Fed President Robert Kaplan on Friday raised concerns over a potential global slowdown that has...

  • *SocGen agrees to pay $1.3 bln for sanction violations. PARIS/ WASHINGTON, Nov 19- French banking giant Societe Generale on Monday agreed to pay U.S. federal and state authorities $1.4 billion to resolve pending legal disputes. The bank agreed to pay $1.34 billion to settle investigations into its handling dollar transactions in violation of U.S. sanctions...

  • WASHINGTON, Nov 19- Federal Reserve governor Randal Quarles is to become the new head of the Financial Stability Board, the international body that helps monitor and safeguard financial stability globally, two people familiar with the process said. He will replace Mark Carney, the Bank of England governor whose term ends this year. Klaas Knot, president of the...

  • MUMBAI/ NEW DELHI, Nov 19- The board of India's central bank advised it to act to support small businesses and give banks more time to step up capital norms, following weeks of pressure from Prime Minister Narendra Modi's government to spur lending ahead of elections. After a nine-hour board meeting on Monday, the Reserve Bank of India said its board also decided to...

  • From 2003 to 2013, the bank executed billions of dollars in illegal transactions to parties in countries subject to embargoes or otherwise sanctioned by the United States, including Iran, Sudan, Cuba and Libya, the authorities said. The fines were issued by the Federal Reserve, U.S. Department of Justice, the U.S. Treasurys Office of Foreign Assets Control, the New...

  • Frederic Oudea, chief executive officer of Societe Generale SA.

    French banking giant Societe Generale on Monday agreed to pay U.S. federal and state authorities $1.4 billion to resolve pending legal disputes.

  • COPENHAGEN, Nov 19- The whistleblower who revealed alleged money laundering involving Danske Bank said on Monday that a major European bank helped process up to $150 billion in suspicious payments and two U.S. lenders were also involved. Howard Wilkinson, who was head of Danske Bank's trading unit in the Baltics from 2007 to 2014, did not name the banks, but...

  • Nov 19- Danske Bank is embroiled in a money laundering scandal that has triggered criminal investigations, forced out its CEO and chairman and rattled investors in Denmark's largest bank. An internal investigation, published in September, charted how 200 billion euro flowed through Danske Bank's tiny Estonian branch from clients registered or...

  • NEW YORK, Nov 19- The dollar dropped to two-week lows on Monday, pressured by cautious comments about the U.S. economy from Federal Reserve officials suggesting the central bank may be nearing the end of its tightening cycle. "We think the FX market is starting to believe the Fed's tightening days are numbered and with it, dollar strength," said Ned Rumpeltin,...

  • U.S. Representative Maxine Waters (D-CA) at a hearing of the House Financial Services Committee, in the Rayburn building. 

    Other potential tweaks to the committee highlight her focus on pushing back on Trump administration efforts to roll back bank regulations.

  • COPENHAGEN, Nov 19- The whistleblower who revealed alleged money laundering involving Danske Bank said on Monday that a major European lender helped process up to $150 billion in suspicious payments and two U.S. banks were also involved. Payments totalling 200 billion euros made through Danske Bank's tiny Estonian branch between 2007 and 2015 have sparked...

  • MUMBAI, Nov 19- A Reserve Bank of India board meeting began on Monday with investors waiting to see if central bank and government policymakers could bridge differences over several key issues. Top government officials and one independent director have pressed the RBI to ease lending and capital rules for banks, provide more liquidity to the shadow banking...

  • SINGAPORE, Nov 19- The dollar was modestly lower against its key rivals on Monday after Federal Reserve officials expressed caution over the global growth outlook, prompting traders to reassess the pace of future U.S. interest rate increases. But comments on Friday by Richard Clarida, the Fed's newly appointed vice chair, put to the test market expectations for...

  • SYDNEY, Nov 19- Asian shares inched cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-U.S. trade dispute, while a new-found air of concern on the global outlook at the Federal Reserve undermined the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent and South Korea 0.5 percent.

  • NEW DELHI/ MUMBAI, Nov 18- As Prime Minister Narendra Modis government turns up the heat on the Reserve Bank of India governor to do its bidding ahead of next years general election it is getting the central banks board to take on a much more powerful role, according to government officials and board members. With the election due by May, and voters concerned about...

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