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Finance Banks

  • July 13- Morgan Stanley's better-than-expected results on Wednesday capped a strong second-quarter earnings season for large U.S. banks. The U.S. banking industry has benefited from a cut in corporate tax rates, interest rate hikes and a strengthening economy. Volatility caused by escalating trade tensions and central bank policy changes also boosted...

  • NEW YORK, July 18- Wall Street trading desks may have reached a post-crisis turning point, with revenue on track for the best year since 2011, second-quarter earnings reports from big U.S. banks showed. Those five Wall Street banks generated roughly $44 billion in trading revenue during the first half of the year, a seven-year high when adjusting for one-time...

  • SHANGHAI, July 18- China's central bank plans to introduce incentives that will boost the liquidity of commercial banks, helping them to expand lending and increase investment in bonds issued by corporates and other entities, a source with direct knowledge of the matter said on Wednesday. The People's Bank of China, the country's central bank, could not be...

  • *Adjusted profit $1.25/ shr above $1.11/ shr expected. July 18- Morgan Stanley's top executive criticized the Federal Reserve's annual health checks of the biggest U.S. lenders and predicted changes to the tests going forward after his bank reported better-than-expected quarterly earnings on Wednesday. The tests, set up to prevent a repeat of the 2007-2009...

  • Edgar Wachenheim speaking at the 2018 Delivering Alpha Conference in New York on July 18th, 2018. 

    Greenhaven Associates' Edgar Wachenheim III believes that shares of Citigroup are set to double.

  • Federal Reserve Chairman Jerome Powell said in congressional testimony that he saw the United States on track for years more of steady growth, downplaying the risks of an escalating trade conflict with China. That evening, Kansas City Federal Reserve Bank President Esther George said the Fed should ease away from monetary policy accommodation, further...

  • WASHINGTON— The Latest on Federal Reserve Chairman Jerome Powell's congressional appearance to deliver the Fed's semi-annual monetary policy report. Powell, the first non-economist to head the Fed in nearly four decades, says his goal is to speak so that he can be understood not just by economists and Wall Street investors but also by the typical household.

  • Benno Dorer, CEO, Clorox

    Goldman Sachs downgraded its rating on Clorox shares to sell from neutral on Wednesday.

  • COPENHAGEN, July 18- Danske Bank said on Wednesday it would forgo profits made from transactions in Estonia that are subject to a money laundering investigation and that its 2018 net profit would be at the low end of its target range. Shares in Denmark's biggest lender have fallen 25 percent since March as allegations its Estonia branch was involved in money...

  • Morgan Stanley beats Street on top and bottom line

    CNBC's Wilfred Frost breaks down Morgan Stanley's quarterly numbers which posted earnings per share of $1.30 on revenues of $10.610 billion.

  • Morten Mosegaard Christensen, interim CFO at Danske Bank, speaks about allegations against the Danish lender of money laundering in Estonia.

  • *Spot gold to hover above $1,226 an ounce- technicals. BENGALURU, July 18- Gold prices slipped to their lowest in a year on Wednesday, as the dollar firmed after Federal Reserve Chairman Jerome Powell's U.S. economic outlook reinforced views that the central bank is on track to steadily hike interest rates. The stronger dollar following Powell's comments weighed...

  • Disruptors not affected mortgage business at all, says Swedbank CEO

    Birgitte Bonnesen speaks about the lender's latest earnings report, as well as disruption to the traditional banking industry.

  • Swedish banking group Swedbank reported a bigger than expected rise in second-quarter net earnings on Wednesday.

  • *Spot gold to hover above $1,226 an ounce- technicals. BENGALURU, July 18- Gold prices on Wednesday held steady near a one-year low hit in the previous session, as the dollar firmed after Federal Reserve Chairman Jerome Powell's U.S. economic outlook reinforced views the central bank is on track to steadily hike interest rates. The stronger dollar following...

  • *C.bank is removing 15 pct minimum mortgage downpayment. JAKARTA, July 18- As Indonesia's central bank drives up interest rates to defend a fragile currency, Governor Perry Warjiyo is banking on a revival of the sluggish property sector to help maintain growth momentum in Southeast Asia's biggest economy. This comes as Indonesia is caught in the crosshairs of...

  • Japan Post Holdings CEO discusses the company's future

    Masatsugu Nagato of Japan Post Holdings explains why the company has focused on developing its logistics capabilities in the Asia-Pacific region.

  • BENGALURU, July 18- Gold prices on Wednesday held steady near a one-year low hit in the previous session, as the dollar firmed after Federal Reserve Chairman Jerome Powell's U.S. economic outlook reinforced views the central bank is on track to steadily hike interest rates. *The Fed's Powell said on Tuesday he sees the United States on course for years more of...

  • TOKYO, July 18- The dollar was broadly higher on Wednesday, hitting a six-month high against the yen, after Federal Reserve Chairman Jerome Powell gave an upbeat outlook for the U.S. economy and reinforced views that the Fed was on track to steadily hike interest rates. The dollar was up 0.05 percent at 112.97 yen after going as high as 113.08, its strongest since...

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