Finance Banks

  • **DALLAS- Federal Reserve Vice Chairman Richard Clarida to participate in "Fed Listens: A Conversation with Community Leaders in Southern Dallas," followed by a brief moderated discussion with Dallas Fed President Robert S. Kaplan- 1600 GMT. **DALLAS- Federal Reserve Vice Chairman Richard Clarida to participate in a moderated discussion with Dallas Fed President...

  • JPMorgan Chase headquarters, New York.

    JPMorgan Chase is tearing down walls and moving its San Francisco investment bankers onto "hot desks," a space-saving layout that has long been a fixture at tech companies, while redesigning offices in Dallas and other cities.

  • NEW YORK/ SAN FRANCISCO, Feb 22- Federal Reserve policymakers are coalescing around a plan to stop trimming their $4 trillion balance sheet later this year, remarks from three U.S. central bankers showed on Friday. "When we started the normalization journey, I promised that it would be the policy equivalent of watching paint dry and it certainly was, for over a year,"...

  • NEW YORK/ SAN FRANCISCO, Feb 22- Despite a U.S. unemployment rate that has plumbed its lowest levels in nearly 50 years, Federal Reserve policymakers remain worried about excessively low inflation, a view that helps explain the central bank's recent decision to put interest-rate hikes on hold. Traditionally, economists have found that when labor markets run hot,...

  • *French court ordered UBS to pay $5 bln in penalties. PARIS, Feb 22- UBS was warned numerous times over a period of at least six years that its French private bank risked breaking local tax laws, according to the written judgement in a case where the Swiss bank faces a 4.5 billion euro penalty. The hefty sanction-- a 3.7 billion euro fine and 800 million euros in damages--...

  • *French court ordered UBS to pay $5 bln in penalties. PARIS, Feb 22- UBS was warned numerous times over a period of at least six years that its French private bank risked breaking local tax laws, according to the written judgment in a case where the Swiss bank faces a 4.5 billion euro penalty. The hefty sanction-- a 3.7 billion euro fine and 800 million euros in damages-- has...

  • NEW YORK, Feb 22- The Federal Reserve will keep an open mind as it begins a broad review this year of its monetary policy framework that could result in changes to how it goes about ensuring that prices remain stable and employment plentiful, Fed vice chair Richard Clarida said on Friday. The Fed will make the results of its review public in the first half of 2020, he...

  • *Q1 EPS C $2.19, in line with market forecasts. *Net income up 2 percent to C $3.17 billion. Canada's biggest lender by market value said earnings per share grew by 7 percent in the quarter to Jan. 31 to C $2.15.

  • *Zimbabwe economy choked by cash shortages. HARARE, Feb 22- Zimbabwe underwent a de facto devaluation on Friday as its central bank began trading a sharply discounted replacement currency, attempting to ease a cash crunch that has hobbled the economy and plunged millions deep into poverty. Effectively reintroducing a national currency, the Reserve Bank of...

  • LONDON, Feb 22- It was supposed to be the start of a dollar downturn. Instead, investors are scaling back those bets as a dovish shift by the Federal Reserve is emulated by central banks worldwide- keeping intact the greenback's interest rate premium over other currencies. Other central banks, from the European Central Bank to Australia, were primed to kick off rate...

  • *Zimbabwe economy choked by cash shortages. HARARE, Feb 22- Zimbabwe's central bank began trading a sharply discounted replacement currency on Friday, attempting to ease a cash crunch that has hobbled the economy and plunged millions deep into poverty. Zimbabwe adopted the dollar in 2009 but, as a chronic hard currency shortage worsened, introduced a parallel...

  • LONDON, Feb 22- Britain's Metro Bank, Starling Bank and ClearBank have been granted a total of 280 million pounds from a fund that aims to boost competition in lending to small firms. After assessing bids for the funds, the BCR said it awarded Metro Bank 120 million pounds, Starling Bank 100 million pounds and ClearBank 60 million pounds. "It's a relief to see this...

  • Societe Generale SA headquarters stand in Paris, France

    French bank Societe Generale is planning to cut thousands of jobs at its global banking and investor solutions unit, as it looks to offset cost pressure from regulation, Bloomberg reported.

  • HARARE, Feb 22- Zimbabwe's central bank began trading a sharply discounted replacement currency on Friday, attempting to ease a cash crunch that has hobbled the economy and plunged millions deeper into poverty. The Reserve Bank of Zimbabwe said on Wednesday it would scrap the official 1: 1 peg between its quasi-currency bond note and the U.S. dollar, creating a...

  • OCBC is 'very positive' on the Greater Bay Area

    Group CEO of OCBC Bank Samuel Tsien says some cities in the Greater Bay Area could be a "major driver" of growth. He also says the Federal Reserve's stance suggests that the outlook for the U.S. economy is not as "rosy" as before.

  • Having a regional footprint helps Singapore banks: EY

    Keith Pogson of EY discusses the risks and vulnerabilities that Singapore banks have to face, including concerns stemming from the U.S.-China trade war.

  • Bank Danamon: Sentiment in Indonesia isn't negative

    Satinder Ahluwalia of Bank Danamon says sentiment among SMEs and commercial firms in Indonesia is "still positive" because they do not see expect anything negative from the country's elections in April. He also discusses a proposed merger with Bank Nusantara Parahyangan.

  • A man walks past an OCBC branch in the central business district of Singapore.

    Singapore's second-largest bank OCBC expects its loans business to grow more moderately this year amid greater uncertainties in China and globally, according to the bank's chief executive Samuel Tsien.

  • A pedestrian walks past the People's Bank of China headquarters in Beijing, China, on Monday, Feb. 26, 2018.

    China's debt problem is set to get worse this year, predicted Morgan Stanley, but the good news is, it expects that the country will not fall back into the specter of the risky shadow banking sector like before.

  • A pedestrian walks past an Oversea-Chinese Banking Corp. (OCBC) branch in the central business district (CBD) of Singapore, on Saturday, Feb. 16, 2019.

    Singapore's Oversea-Chinese Banking Corp missed market estimates by reporting a 10 percent drop in quarterly profit on Friday, hit by a subdued performance in its insurance business.

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