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Finance Banks

  • ANKARA, Oct 21- Turkey's banking regulator urged the public on Saturday to ignore rumours about financial institutions, in an apparent dismissal of a report that some Turkish banks face billions of dollars of U.S. fines over alleged violations of Iran sanctions. U.S. authorities have hit global banks with billions of dollars in fines over violations of...

  • ANKARA, Oct 21- Turkey's banking regulator urged the public on Saturday to ignore rumours about financial institutions, in an apparent dismissal of a report that some Turkish banks face billions of dollars of U.S. fines over alleged violations of Iran sanctions. Two senior Turkish economy officials told Reuters that Turkey has not received any notice from the...

  • ANKARA/ ISTANBUL, Oct 21- Six Turkish banks face billions of dollars of fines from U.S. authorities over alleged violations of sanctions with Iran, the Haberturk newspaper reported on Saturday, citing senior banking sources. Two senior Turkish economy officials told Reuters that Turkey has not received any notice from the United States about such penalties,...

  • WASHINGTON, Oct 20- President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank's top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed Chair...

  • **FRANKFURT- Welcome address by ECB Chief Economist Peter Praet at the ECB conference on Credit, Banking and Monetary Policy in Frankfurt, Germany 0700 GMT. **LONDON- Participation by ECB Bank Supervisory Chief Daniele Nouy in "Everything is connected the international dimension of banking regulation and supervision" at the Centre for European Law organized by...

  • WASHINGTON— Federal Reserve Chair Janet Yellen on Friday defended the central bank's extraordinary efforts to fight the Great Recession and said they might be needed again. During the recession, the Fed pushed short-term interest rates to zero. "The U.S. economy has made great strides," Yellen said in a speech Friday at a gathering of the National Economists Club...

  • WASHINGTON, Oct 20- President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank's top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed Chair...

  • NEW YORK, Oct 20- Investors awaiting the nomination of the next Federal Reserve chair are hoping whoever is nominated pursues the same monetary policy that has supported rising stock prices for the past nine years. Led by Janet Yellen since 2014, the Fed is about to allow its $4.5 trillion portfolio of securities to shrink, and in late 2015 it began raising...

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

    The executive firings would add to Wells Fargo's existing struggle with scandal in its consumer banking business.

  • Tidjane Thiam, chief executive officer of Credit Suisse Group AG.

    RBR Capital Advisors looks to expand stake in Credit Suisse to $1 billion, and spin off investment bank and asset management divisions.

  • WASHINGTON, Oct 20- President Donald Trump said on Friday he was considering tapping both current Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor to serve in top posts at the U.S. central bank.

  • NEW YORK, Oct 20- New rules meant to cut out risky lending by banks in Canada are pushing home purchasers into the arms of unregulated lenders, the head of the nation's housing agency said on Friday, adding that steps could be taken to curb their growth. "Right now, the level of activity is relatively low, but we've created an incentive for it to be higher," CMHC Chief...

  • Samir Hanef sits in his car in Durham, North Carolina on August 11, 2017. Hanef's car was repossessed in December of 2016 by Wells Fargo Bank for non payment of car insurance even though he had never signed up for insurance through the bank.

    Wells Fargo is accused of forcing borrowers to buy unneeded auto insurance when they took out a car loan, N.Y. Times reports.

  • TORONTO, Oct 20- Canada's main stock index was broadly higher on Friday, touching its strongest level in nearly eight months, as rail companies, banks and miners led gains. At 10:38 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index rose 58.21 points, or 0.37 percent, to 15,876.21. Canada's four largest banks were among the top 10 most influential...

  • BRUSSELS, Oct 20- Italy's Prime Minister Paolo Gentiloni sought on Friday to quell a controversy over who will be the next governor of the central bank, an issue that has exposed divisions within the ruling Democratic Party. Speaking in a news conference in Brussels, Gentiloni said the decision on the Bank of Italy will be made with the main aim of safeguarding the...

  • LONDON, Oct 20- The European Bank for Reconstruction and Development is hitting its lending limit with Kazakhstan's sovereign wealth fund, risking a sharp drop off in its annual 1 billion euro lending programme to the country. Kazakhstan became the EBRD's second-largest country of operation by volume last year behind Turkey, as investments in mines to solar...

  • The privately-held firm has quietly become one of the biggest non-bank consumer lending companies in China. It finances more than tenth of all iPhone sales in China, the U.S. tech giant's second-biggest market. The Czech company has 225,000 sales points in retailers across China, and said the number could rise to up to 500,000 in the coming years.

  • Oct 20- U.S. regional lender SunTrust Banks Inc's profit rose 12 percent in the third quarter, as interest rate hikes by the Federal Reserve drove higher net interest income. The Atlanta- based bank said on Friday net income available to its common shareholders climbed to $512 million in the quarter ended Sept. 30, from $457 million a year earlier.

  • Still room for earnings growth in telecoms: Pro

    Edward Park, investment director at Brooks Macdonald, speaks about investing in business sectors including telecoms and financials.

  • Oct 20- Bank of Japan Governor Haruhiko Kuroda's 5- year term ends in April. The 72- year-old is likely to be reappointed if Prime Minister Shinzo Abe retains power after Sunday's general election, analysts say. Before becoming Japan's ambassador to Switzerland, Honda was an adviser to Abe and known as one of the architects of Abe's masterplan to reflate the...

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