Buffalo man admits to defrauding banks of nearly $500,000
BUFFALO, N.Y. — A former Buffalo resident pleaded guilty on Tuesday to orchestrating a scheme that defrauded two banks out of nearly half a million dollars. Joshua Parra, 32, who now lives…
Japan Economy Minister Goto urges US banks, regulators to tackle liquidity risks
By Tetsushi Kajimoto and Yoshifumi Takemoto TOKYO (Reuters) -Banking sector problems in the United States and Europe were caused by liquidity and interest rates risks, but won’t impact on Japan’s economy and…
South Korea, Indonesia central banks agree to promote local currency transactions
SEOUL (Reuters) – The central banks of South Korea and Indonesia signed a memorandum of understanding on Tuesday to cooperate on promoting the use of their currencies for bilateral transactions, such as…
Global elite heads to Milken event to talk banks, rates and recession
By Svea Herbst-Bayliss and Carolina Mandl NEW YORK (Reuters) – When Wall Street investors, dealmakers and chief executives meet in Beverly Hills next week to strategize on how to make money given…
Russia should not take temporary control of foreign banks’ units -central bank
MOSCOW (Reuters) – Taking over the temporary management of foreign banks’ divisions in Russia would not be appropriate, Central Bank Governor Elvira Nabiullina said on Friday, after Moscow seized control of two…
China’s top banks post shrinking margins in Q1
By Ziyi Tang and Engen Tham SHANGHAI/BEIJING (Reuters) – Five of China’s largest lenders posted shrinking margins in the first quarter on Friday, as loan re-pricing bites. Borrowers are struggling to repay…
Italy working on levy on banks to fund family relief -source
By Giuseppe Fonte ROME (Reuters) – Italy is working on imposing a “solidarity” levy on its banks to fund relief measures for families hit by the cost of living crisis, a source…
Marketmind: Fresh spur from Meta and Europe’s banks
A look at the day ahead in U.S. and global markets from Mike Dolan The Big Tech earnings season is going some way to justifying the striking outperformance of its mega cap…
Major Bank’s Stock Continues Crashing As It Begs Fed For Aid To Avoid Collapse
Major Bank’s Stock Continues Crashing As It Begs Fed For Aid To Avoid Collapse Jason Cohen on April 26, 2023 First Republic Bank’s stock price plunged more than 20% on Wednesday morning, following…
Marketmind: A heavy dose of tech, banks & politics
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The top-tier Asian economic data cupboard on Thursday is bare, meaning regional markets will probably…
World Bank’s Malpass: debt assessments should reflect growing share of domestic debt
By Andrea Shalal WASHINGTON (Reuters) – Debt sustainability analyses carried out by the World Bank and International Monetary Fund should reflect the growing share of domestic debt in many developing countries’ overall…
First Republic advisers have lined up potential purchasers of bank’s new stock – CNBC
(Reuters) – First Republic Bank’s advisers have already lined up potential purchasers of new stock in the lender if they can fix the bank’s balance sheet, CNBC reported on Wednesday, citing sources.…
Marketmind: Cloud control – tech trumps banks
A look at the day ahead in U.S. and global markets from Mike Dolan Just as markets were getting all antsy again about regional U.S. banks, Big Tech mega caps seem to…
Swiss regulator says two banks’ crisis plans are insufficient
ZURICH (Reuters) – Swiss financial regulator FINMA has labelled the recovery and resolution plans of two of Switzerland’s five systematically important banks as insufficient, it said on Wednesday. FINMA questioned the ability…
Marketmind: Wowed by tech, worried by banks
A look at the day ahead in European and global markets from Vidya Ranganathan The steady stream of bad news from banks continues to cast a pall over markets this week, even…
UK food banks give out record amount as rising living costs drive hardship
LONDON (Reuters) – Britain’s biggest food bank network said the amount of emergency food parcels it distributed rose 37% to a record 3 million in the year to March as more people…
Banks Launch Fewest ‘Green’ Funds In Three Years
Banks Launch Fewest ‘Green’ Funds In Three Years John Hugh DeMastri on April 25, 2023 Launches of new funds focused on environmental, social and corporate governance (ESG) goals hit their lowest level…
Major Bank’s Stock Tumbles Over 25% After Disastrous Earnings Report
Major Bank’s Stock Tumbles Over 25% After Disastrous Earnings Report Jason Cohen on April 25, 2023 First Republic Bank’s stock price fell over 25% as of midday Tuesday following a Monday earnings…
First Republic, KPMG are sued for concealing bank’s risks
By Jonathan Stempel (Reuters) – First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest rates threatened its business model by prompting…
More banks join European instant payments pilot from end 2023
By Huw Jones LONDON (Reuters) – An initiative to offer an instant payments service in Europe from the end of 2023 said on Tuesday it has acquired two payment firms and obtained…
Exclusive-China guides banks to further cut deposit rates – sources
(Reuters) – China nudged banks this month to cut deposit interest rates further, seven people with knowledge of the matter said, in the latest effort to channel the country’s vast savings pool…
South Korea to join global stress test on banks
SEOUL (Reuters) – South Korea will voluntarily join a global stress test on banks, hoping to gain from a thorough analysis of risks they face on an international level, the country’s central…
U.S. shares with European banks ways Russia is evading sanctions
WASHINGTON (Reuters) – The U.S. on Sunday said it shared information with European bankers, government officials and business leaders to clamp down on Russia’s tactics to try to skirt Western sanctions. Brian…
Sale of Italy’s MPS should help create several big banks, says Meloni
MILAN (Reuters) – The privatisation of Italian lender Monte dei Paschi di Siena should foster the creation of several large banking groups in the country, Prime Minister Giorgia Meloni was quoted as…
Vanguard bought large banks’ bonds on the cheap during March turmoil
By Davide Barbuscia NEW YORK (Reuters) – Vanguard, the world’s second-largest asset manager, increased exposure to large bank’s bonds during the banking rout in March, taking advantage of cheap valuations, according to…
Renault chooses banks for planned listing of electric car unit Ampere – source
PARIS (Reuters) – French carmaker Renault has picked BNP Paribas, Goldman Sachs and JPMorgan among the investment banks slated to work on the planned listing of its electric car business, Ampere, a…
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