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…
State Street CEO O’Hanley to take additional role as bank’s president
(Reuters) – State Street Corp said on Monday its CEO and Chairman Ron O’Hanley will take on an additional role as the bank’s president after Louis Maiuri retires, set for early next…
JPMorgan strategists advise opening a short in European banks, upgrade healthcare
LONDON (Reuters) – Strategists at JPMorgan have advised opening a ‘short’ position in European banks, and moved the sector from ‘neutral’ to ‘underweight’, they said in a note published on Monday. “If…
Big central banks hit pause, with rate cuts far off
LONDON (Reuters) – What comes after the pause? On Oct. 26, the European Central Bank snapped a 15-month streak of rate hikes by keeping borrowing costs on hold at a record high,…
Hedge funds trim exposure to megacap tech stocks, banks say
By Carolina Mandl NEW YORK (Reuters) – Global hedge funds reduced their exposure to mega cap tech stocks in recent days, ahead of the companies’ third-quarter earnings, two Wall Street banks said.…
Analysis-Middle East throws central banks yet more unknowns
By Mark John (Reuters) – After months playing catch-up with inflation, central bankers were starting to believe they have finally pegged interest rates at just about the right level to keep a…
Profits of US mid-sized banks likely to be squeezed by higher funding costs
By Manya Saini and Niket Nishant (Reuters) – U.S. mid-sized banks will likely need to shell out more to retain deposits in the next few months, a move that could crimp margins…
Hedge funds pile into banks ahead of earnings – BofA
NEW YORK (Reuters) – Hedge funds bought U.S. stocks in all sectors last week, but mainly in financials, Bank of America said in a report on Tuesday. Hedge funds bought over $300…
Basel proposes crypto disclosures by banks from January 2025
LONDON (Reuters) – Global banking regulators on Tuesday proposed a standardised format for major banks to disclose their holdings of cryptoassets from January 2025 to support “market discipline” by giving a complete…
Marketmind: Banks, Biden visit buoy markets
A look at the day ahead in U.S. and global markets from Mike Dolan Another eye-catching bounceback in U.S. stocks on Monday was just about sustained overnight ahead of another slew of…
Asian FX reserves slip as central banks grapple with strong dollar
By Jaspreet Kalra and Ankur Banerjee SINGAPORE/MUMBAI (Reuters) – Asia’s central banks have spent this year defending their currencies against a strong U.S. dollar, paring foreign exchange reserves to multi-month lows in…
South Korea to fine two Hong Kong banks for naked short-selling
SEOUL (Reuters) – South Korea’s stock market watchdog said on Sunday it found two Hong Kong-based investment banks had engaged in naked short-selling, which would likely result in record fines. The two…
US banks, tech firms offer support for Israel victims, announce aid
By Lananh Nguyen and Aditya Soni (Reuters) -As big U.S. corporations kicked off corporate earnings season this week, executives addressed the Israel-Hamas conflict and some companies launched fundraising efforts. “I just want…
Big U.S. banks warn capital hikes could weigh on green energy, equity products
By Pete Schroeder and Michelle Price WASHINGTON (Reuters) – Big bank executives warned a number of products and services could become uneconomical if new proposed bank capital hikes are adopted as written,…
World Bank, multilateral development banks jointly seek to boost lending power
MARRAKECH, Morocco (Reuters) – The World Bank on Friday said it is bolstering collaboration with nine multilateral development banks (MDBs) to accelerate its vision of a liveable planet free of poverty. It…
ECB policymakers eye springtime push to cut payments on banks’ deposits – sources
By Balazs Koranyi MARRAKECH (Reuters) – European Central Bank policymakers are planning a springtime push to cut interest payments made to commercial banks, in part to recoup some of the costs associated…
World Bank’s Banga eyes longer, cheaper loans as mission expands to climate
By David Lawder MARRAKECH, Morocco (Reuters) – World Bank president Ajay Banga on Friday laid out ambitious plans to widen the development lender’s mission to include climate change and other global crises,…
Options traders see larger-than-usual stock swings as banks report results
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options traders are braced for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data…
World Bank’s Banga: Interest rates to stay higher for longer
MARRAKECH, Morocco (Reuters) – World Bank President Ajay Banga said on Wednesday interest rates will likely stay higher for longer and complicate investments for companies across the globe. He also told a…
Multilateral development banks, keen to expand lending, to meet with ratings agencies
By Andrea Shalal MARRAKECH, Morocco (Reuters) – Senior executives at multilateral development banks will meet on Wednesday with the top credit ratings agencies, bank executives said, amid a broad push to expand…
Bank of England to review how it stress tests banks
By Huw Jones LONDON (Reuters) – Britain’s banking system is well capitalised to withstand shocks the Bank of England said on Tuesday, adding that next year’s annual health check of major lenders…
Several US big banks allow staff in Israel to work from home
By Niket Nishant, Lananh Nguyen, Manya Saini and Jaiveer Shekhawat (Reuters) – Several U.S. banks have told their staff in Israel to work from home for the near future as the country…
US Treasury pushing development banks for progress on next phase of reforms by April
By Andrea Shalal MARRAKECH, Morocco (Reuters) – The U.S. Treasury Department is pushing the World Bank and regional multilateral development banks to complete work on new rules for leveraging shareholder capital commitments…
Fed says credit to wind down failed banks drops again in latest week
NEW YORK (Reuters) – The Federal Reserve said on Thursday that credit it has extended to help wind down failed banks marked a big drop in the latest week. The Fed reported…
Banks stocks back in vogue for hedge funds in September -Morgan Stanley
By Nell Mackenzie LONDON (Reuters) – Global hedge funds raced to load up on bullish positions in banks, insurance companies and capital markets as September drew to a close, Morgan Stanley said…
Hungary raises deficit gap, puts pressure on banks to boost lending
BUDAPEST (Reuters) – Hungary’s government has raised the 2023 budget deficit target to 5.2% of economic output from 3.9%, the finance ministry said on Tuesday, citing increased spending on pensions, energy subsidies…
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