By Oliver Hirt and Brenna Hughes Neghaiwi ZURICH – Switzerland’s secretive banks hold up to $213 billion of Russian wealth, the country’s financial industry association estimates, as sanctions on Russia…
ST. PAUL, Minn. – A Minneapolis man has been sentenced to 300 months in prison followed by five years of supervised release for a Hobbs Act robbery and multiple armed…
CAIRO -Gulf central banks on Wednesday raised their main interest rates by a quarter percentage point in lockstep with the U.S. Federal Reserve as it began a monetary tightening cycle…
By Matt Scuffham and David Henry NEW YORK – Several of Wall Street’s biggest banks are planning on keeping a limited presence and holding on to banking licenses in Russia…
By Elizabeth Dilts Marshall NEW YORK – Staff turnover on Wall Street is set to surge in coming weeks as investment bankers who held off job-hunting during the pandemic cash…
ZURICH – The Swiss government wants to set up a new backstop allowing the provision of state-guaranteed cash should one of the country’s big banks fail, it said on Friday,…
By Leah Douglas – U.S. ethanol producers are betting heavily on carbon capture and storage (CCS) technology to lower their greenhouse gas emissions and secure a place for the corn-based…
NEW YORK – Major U.S. banks have started announcing plans to wind down operations in Russia in the wake of its invasion of Ukraine and retaliatory sanctions. On Thursday, Goldman…
LONDON – The European Central Bank’s announcement on Thursday that it plans to end stimulus in the third quarter of 2022 shows that policymakers across the developed world remain laser-focused…
By Valentina Za MILAN – European bank stocks have lost a fifth of their value over the past month amid the Ukraine crisis. Western sanctions against Russia following its invasion…
BRUSSELS – The European Union said on Wednesday it was stepping up sanctions over Russia’s invasion of Ukraine, including targeting more Russian individuals and adding banks in Moscow’s ally Belarus.…
By Davide Barbuscia and Yoruk Bahceli NEW YORK/LONDON – Banks are having conversations with potential buyers on how to get rid of their exposure to Russian corporate loans, but sanctions…
By Valentina Za MILAN – European bank stocks have lost a fifth of their value since Russia invaded Ukraine last month. Western sanctions against Moscow have upended the financial sector,…
By Brenna Hughes Neghaiwi and Tom Sims ZURICH/FRANKFURT – Women remain rare visitors to the highest echelons of European banks. The 25 biggest banks by assets have seen 22 changes…
By Huw Jones LONDON – Banks need to be given more guidance on how to sever ties with Russia because they have never before had to process sanctions on a…
– Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator’s system coupled with Russia’s own Mir network, after Visa and MasterCard…
By Matt Scuffham and Megan Davies NEW YORK – Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say,…
By Gergely Szakacs and Alan Charlish BUDAPEST/WARSAW -Russia’s invasion of Ukraine is putting pressure on central banks along the European Union’s eastern flank to prop up their weakening currencies, forcing…
By Valentina Za MILAN – The latest wave of sanctions on Russia over its invasion of Ukraine has thrown the global banking industry deeper into turmoil, as Western countries try…
By Huw Jones and Tommy Wilkes LONDON – Britain will ban Russian companies from London’s multi-billion dollar aviation and space insurance market, the latest restrictions Western allies are imposing to…
BRUSSELS – The European Union is considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions, as it has already done for seven Russian…
By Engen Tham and Julie Zhu – Top Chinese banks are rushing to ensure they can maintain business ties with Russian clients without running afoul of a barrage of Western…
MOSCOW – Russia’s central bank said on Wednesday that it would hold daily 3 trillion rouble ($28.31 billion) repo and deposit auctions to help lending institutions manage their liquidity and…
By Tommy Wilkes and Huw Jones LONDON – The European Union is excluding seven Russian banks from the SWIFT messaging system that underpins global payment transactions as the West ratchets…
By Michelle Price and Sumeet Chatterjee WASHINGTON/HONG KONG – Faced with an unprecedented level of sanctions on Russia, global banks are taking a dim view of business with all Russian…