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…
Investment banks rush to cut yuan forecasts following rapid losses
SHANGHAI – Global investment houses have rushed to cut their yuan forecasts as China’s currency heads for its worst month in decades, with optimism souring amid a domestic economic slowdown and aggressive…
Shareholders Defeat Woke Climate Proposals At Three Massive Banks
Shareholders Defeat Woke Climate Proposals At Three Massive Banks Thomas Catenacci on April 27, 2022 Shareholders of three massive U.S. banks delivered a thumping to climate activists, soundly rejecting proposals to end…
Some Chinese state banks will cut deposit rates on Monday – sources
SHANGHAI – Some Chinese state banks, such as Bank of China and Bank of Communications, will cut deposit rate ceilings on Monday, joining smaller lenders, sources told Reuters. The planned cuts come…
Essex County Man Convicted of Using Credit Cards Stolen from U.S. Mail to Defraud Banks and Commit Identity Theft
NEWARK, N.J. – An Essex County, New Jersey, man was convicted today for his role in scheming with at least one U.S. Postal Service (USPS) employee and others to steal credit cards…
Japan banks target growth in cooling U.S. high-yield debt market
By Makiko Yamazaki and Yuki Nitta TOKYO – When Japan’s biggest banks helped finance a $34 billion deal last year for medical supply maker Medline, one of the largest leveraged buyouts since…
‘Panicked’ Russians withdrew $9.8 billion in FX from banks in March
(Reuters) – Russian households withdrew foreign currency worth $9.8 billion from their accounts in March and banks cut new corporate lending by around one third, the central bank said on Wednesday, as…
All large euro zone banks can withstand Russian write-off, ECB says
FRANKFURT – All large euro zone banks can withstand a full write-off of their Russian exposure and still respect their capital requirements, the European Central Bank’s top supervisor Andrea Enria said in…
Goldman CEO, top deputies to get cut of profits from bank’s private investment funds – WSJ
(Reuters) – Goldman Sachs Chief Executive David Solomon and his top deputies will get a part of profits from the bank’s private investment funds, the Wall Street Journal reported on Tuesday, citing…
New Zealand imposes new sanctions on Russian banks
WELLINGTON – New Zealand unveiled new sanctions on Tuesday targeting Russia’s largest banks and financial institutions, in its response to the invasion of Ukraine. “We are deeply concerned at the reports of…
U.S. banks’ commodity trading exposures rise on Russia conflict
By Matt Scuffham NEW YORK – Wall Street banks’ commodities trading exposures are rising, which could leave them vulnerable to large swings in asset values following Russia’s invasion of Ukraine, first quarter…
Big U.S. banks see higher net interest income as rates rise
By Elizabeth Dilts Marshall NEW YORK – Wells Fargo & Co and JPMorgan Chase & Co reported a rise in net interest income in the first quarter, as the U.S. Federal Reserve’s…
Marketmind: Central banks flying into storm clouds
A look at the day ahead in markets from Sujata Rao After a hectic period, traders (and reporters) will be looking forward to the long Easter weekend but they must first get…
Ukraine’s Zelenskiy urges quick EU sanctions on Russian oil, all banks
VILNIUS – Ukrainian President Volodymyr Zelenskiy urged the European Union on Tuesday to impose sanctions on all Russian banks and Russian oil and to set a deadline for ending imports of Russian…
Euro zone banks to tighten corporate credit access on war fears: ECB
FRANKFURT -Euro zone banks plan to sharply tighten access to corporate credit in the second quarter as the war in Ukraine weighs on the outlook and cuts deep into their risk tolerance,…
CNN Gives Climate Activists Platform To Pressure Banks To Divest From Fossil Fuels
CNN Gives Climate Activists Platform To Pressure Banks To Divest From Fossil Fuels Thomas Catenacci on April 11, 2022 CNN published an article citing several left-wing climate reports and activists about the…
U.S. banks set for better-than-expected trading revenues
By Matt Scuffham NEW YORK – Trading may be a surprise bright spot for Wall Street banks in the first quarter, after clients rejigged portfolios in response to Russia’s invasion of Ukraine…
U.S. FDIC asks banks for info on crypto activities, cites potential ‘systemic risks’
WASHINGTON – The U.S. Federal Deposit Insurance Corporation (FDIC) on Thursday said the thousands of banks it supervises should notify the regulator of any crypto-related activities they have or are planning. Citing…
Bronx, New York, Man Admits Scheme to Steal Checks from Mail and Defraud Banks of $550,000
NEWARK, N.J.– A Bronx, New York, man today admitted his role in a scheme to steal checks from the mail, alter them and deposit them in bank accounts he controlled, U.S. Attorney…
Bank of Spain urges banks to monitor risks, keep provisions amid Ukraine conflict
MADRID – The Bank of Spain told lenders on Thursday to adequately monitor credit risks of some of their customers most exposed to the economic impact from Russia’s invasion of Ukraine and…
Analysis-As bond prices swoon, U.S. banks may slow stock buybacks
By David Henry NEW YORK – Wall Street bankers have long talked about how higher interest rates will deliver additional revenue from loans and higher-yielding securities. Now that rates are rising, bankers…
Bearish bets on Asian FX ease as central banks tilt towards rate hikes – Reuters poll
By Sameer Manekar (Reuters) – Bearish bets on most Asian currencies eased as regional central banks sought to normalise policy due to surging inflation, while investors turned bullish on Singapore dollar for…
UBS shareholders back bank’s climate roadmap
By Brenna Hughes Neghaiwi ZURICH – UBS shareholders on Wednesday approved the bank’s climate roadmap, after its first-ever such vote faced pushback from several investors and climate campaigners as not going far…
Column-Felling the ‘magic money tree’ as central banks call time :Mike Dolan
By Mike Dolan LONDON – The race is on to declare a paradigm shift in the world economy toward higher inflation and interest rates and the jolt to public borrowing costs could…
Australian banks gravitate to June for rate rise, ultimate peak unclear
By Wayne Cole SYDNEY – Most of Australia’s major banks now expect a rise in interest rates as early as June, though opinions on the pace of tightening and the peak point…
Russian banks need to be recapitalised as losses loom, VTB CEO says
(Reuters) – Russia’s banks will need a wider recapitalisation, Andrey Kostin, CEO of No.2 lender VTB, has told the TASS news agency, with the scale of it to be determined later this…
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