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…
Czech central bank’s Nidetzky: June rate hike coming -Seznam Zpravy
PRAGUE – The Czech central bank is likely to deliver another interest rate hike in June as long as nothing economically significant happens before then, although to what extent will depend on…
ECB tells banks to buckle up as Ukraine war hits economy
FRANKFURT – The European Central Bank has told banks to buckle up and prepare for a bumpy road ahead as the Ukraine war hits the economy and a sudden surge in interest…
Chinese depositors left in dark as three local banks freeze deposits
By Engen Tham SHANGHAI – Three banks in China’s central Henan province have frozen at least $178 million of deposits, offering scant information on why or for how long, leaving firms unable…
Australian banks enter tech arms race as rising rates squeeze profit
By Byron Kaye SYDNEY – The 10-minute home loan – at the tap of a smartphone screen – is emerging as the next frontier in Australian banking as rising interest rates quash…
Florida private equity manager gets 8 years prison in New York for defrauding banks
By Jonathan Stempel NEW YORK – A Florida man who masterminded a “brazen, sophisticated” scheme to defraud banks into providing about $134 million of loans for his private equity fund was sentenced…
Column-Spiking ‘Misery Indexes’ dare central banks to blink :Mike Dolan
By Mike Dolan LONDON – It’s Friday the 13th and more than $10 trillion has now been sliced off the value of global stock markets this year while ‘Misery Indexes’ that blend…
Japan April consumer inflation seen exceeding central bank’s 2% goal: Reuters poll
By Leika Kihara TOKYO – Japan’s core consumer inflation in April is expected be slightly higher than the central bank’s 2% target, hitting a seven-year peak as sharp climbs in fuel and…
Rocklin Business Owner Pleads Guilty to Defrauding Banks While Awaiting Sentencing on Other Fraud and Money Laundering Charges
SACRAMENTO, Calif. — Kevin Lee Co, 51, of Rocklin, pleaded guilty today to submitting false statements to a financial institution, U.S. Attorney Phillip A. Talbert announced. According to court documents, on Dec.…
Canada banks face ‘greenwashing’ claims as oil & gas firms obtain sustainable financing
By Nichola Saminather TORONTO – For banks in Canada, one of the world’s largest oil producers, it’s not easy being green. In the past two years, Canadian banks have increased the amount…
Bank of Spain sees moderate immediate risk to banks from climate policies
By Jesús Aguado MADRID – Spain’s transition to cleaner energy could bring more notable risks to sectors with higher CO2 emissions, such as transport, manufacturing and agriculture, though any impact on banks…
Polish govt not expected to force banks to raise rates on deposits, mBank says
WARSAW – Interest rates on deposits held in Polish banks will grow due to competition, mBank CEO Cezary Stypulkowski said on Wednesday, adding he did not expect the government to introduce any…
China state banks seen busy with FX swaps, pressing swap points to negative
SHANGHAI -China’s major state-owned banks were actively swapping yuan for dollars in the onshore forwards market on Tuesday, five banking sources said, pressuring swap points into negative territory for the first time…
Australia’s Albanese banks on working class brand to restore Labor to power
By Byron Kaye SYDNEY – When Australian opposition leader Anthony Albanese was only 12 years old, he says, he helped to organise a rent strike that kept his mother’s public housing property…
Fed says banks in good shape despite volatility, warns on prime broker risk
By Pete Schroeder WASHINGTON – The U.S. Federal Reserve said Friday the U.S. banking system remains strong despite heightened volatility and geopolitical risk, but cautioned them against prime brokerage services that come…
No messing around, central banks ramp up inflation fight
LONDON – In a race to get on top of surging inflation, central banks in the United States, Britain and Australia, all jacked up interest rates this week. Stubbornly high inflation also…
European banks weather Ukraine war in Q1 earnings
LONDON – European banks counted the rising cost of war in Ukraine on Thursday as France’s Societe Generale, Credit Agricole and Italy’s UniCredit upped provisions for the conflict without shattering investors’ confidence…
Disconnecting Russia’s banks: Sberbank faces SWIFT removal
By Kirstin Ridley and Karin Strohecker LONDON – The European Union aims to cut off Sberbank, Russia’s largest lender, from the SWIFT international payment system as Western allies seek to further isolate…
StanChart CEO says bank’s global focus still valid amid calls for HSBC break-up
By Iain Withers LONDON – Standard Chartered Chief Executive Bill Winters said the merits of a UK-based, Asia-focused bank remain valid in the face of “unpredictable” geopolitical tensions. Speaking to Reuters on…
Switzerland names new vice chairman of Swiss National Bank’s governing board
ZURICH – Switzerland’s Federal Council has appointed Martin Schlegel as vice chairman of the governing board of the Swiss National Bank, succeeding Fritz Zurbruegg as head of the department responsible for financial…
EU to remove Sberbank, two other Russian banks from SWIFT
STRASBOURG – The European Commission proposed on Wednesday to remove Russia’s biggest bank Sberbank and two other banks from the international SWIFT transaction and messaging system in another blow to the Russian…
Upbeat earnings, banks lift European shares
By Sruthi Shankar and Shreyashi Sanyal (Reuters) – European stocks rose on Tuesday after a string of upbeat earnings, while banking shares gained as government bond yields hit fresh highs in anticipation…
Australian banks’ margin woes linger but rate hikes may lift view
By Shashwat Awasthi (Reuters) – Australia’s “Big Four” banks are set to report a further squeeze on interest margins in their upcoming results dented by growing competition, though the prospect of a…
China discusses protecting assets from U.S. sanctions with banks -FT
(Reuters) – Chinese regulators held an emergency meeting with domestic and foreign banks to discuss how they could protect China’s overseas assets from U.S.-led sanctions similar to those imposed on Russia after…
Brazil to raise tax on net income of banks, financial firms
SAO PAULO – Brazil’s government will increase taxes on banks and financial institutions on Thursday, the official gazette showed, in a bid to fund a new debt renegotiation program for small firms.…
Yellen urges development banks to mobilize private capital for G7 infrastructure push
By Andrea Shalal WASHINGTON – U.S. Treasury Secretary Janet Yellen urged the World Bank and other multilateral development lenders to accelerate infrastructure investments in emerging market countries as part of a concerted…
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