BIS head warns of threats to financial stability, rates need to stay higher
By Marc Jones LONDON (Reuters) – The head of the Bank of International Settlements has warned that years of fighting economic crises have created conditions …
Financial
PNC Financial beats profit estimates on boost from higher interest rates
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in …
Hedge funds bought financial stocks amid banking turmoil, says S&P
By Carolina Mandl NEW YORK (Reuters) – Hedge funds increased their exposure to stocks in the financial sector amid the banking turmoil in March, as …
G20 financial watchdog seeks to learn from latest banking turmoil
By Huw Jones LONDON (Reuters) – The G20’s financial watchdog on Wednesday said rules it introduced after the global financial crisis had prevented contagion from …
IMF warns geopolitical fragmentation could raise financial stability risks
By David Lawder WASHINGTON (Reuters) – Rising geopolitical tensions and the resulting fragmentation of the global economy could increase financial stability risks, reducing cross-border investments, …
China will safeguard yuan and financial stability, central bank governor says
BEIJING (Reuters) – China will safeguard the yuan and financial stability, central bank governor Yi Gang told a financial forum on Tuesday. Yi’s remarks in …
Shipbuilder Austal sinks on former U.S. executives’ indictment for financial fraud
(Reuters) – Australian shipbuilder Austal Ltd sank as much as 8.4% to its lowest level in more than four years on Monday after the United …
ECB’s De Guindos warns of broad risks in financial sector
By Giancarlo Navach CERNOBBIO, Italy (Reuters) – The European Central Bank (ECB) is monitoring broad risks across the financial sector and will act to preserve …
Bank of America’s financial planning app draws $55 billion over two-plus years
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s digital personal finance tool, Life Plan, has attracted more than $55 …
Factbox: The biggest financial crises of the last four decades
(Reuters) – Markets have experienced massive upheaval in the last month, prompted in part by two of the three largest banking failures in U.S. history …
Fed officials say sense of financial stability cleared path for rate hike
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) – Federal Reserve officials on Friday said there was no indication financial stress was worsening as they …
Ally Financial taps Goldman Sachs executive Hutchinson as CFO
(Reuters) – Ally Financial Inc has hired Russell Hutchinson from Goldman Sachs as its chief financial officer effective July 3, the company said on Friday. …
UK consumer mood hits one-year high, but financial gloom persists
(Reuters) – British consumer confidence rose this month to its highest level in a year, helped by improving sentiment around the economy and despite persistent …
NBA Agent and Financial Advisors Charged in $13 Million Fraud Scheme
NEW YORK, NY – Four professional basketball players were defrauded of over $13 million, resulting in charges against Darryl Cohen, Brian Gilder, Charles Briscoe, and …
Factbox-Warren Buffett’s investments in financial firms
NEW YORK (Reuters) – Berkshire Hathaway’s Warren Buffett has been in discussions with senior Biden administration officials about the banking crisis, leading some to speculate …
US House Financial Services chair: too early to tell if new laws needed after bank failures
By Kanishka Singh WASHINGTON (Reuters) – U.S. House of Representatives Financial Services Committee Chairman Patrick McHenry said on Wednesday it was too early to tell …
California’s financial regulator to issue report on Silicon Valley Bank by May
(Reuters) – California’s financial regulator said on Monday it will issue a report on a comprehensive review of its own oversight and regulation of Silicon …
SVB Financial Group files ‘First Day Motions’ in bankruptcy court
(Reuters) – SVB Financial Group on Monday filed a number of “First Day Motions” to seek authorization from a bankruptcy court to support the operations …
Taiwan set to stand pat on rates amid global financial woes – Reuters Poll
TAIPEI (Reuters) – Taiwan’s central bank is expected to keep its policy rate unchanged this week, according to economists polled by Reuters, as the island’s …
LatAm growth threatened if financial turbulence spreads -IDB chief economist
By Milagro Vallecillos PANAMA CITY (Reuters) – Latin America could see zero economic growth this year if the banking crisis in the U.S. and Europe …
Beijing may allow foreign financial firms to list in China – ex-finance minister
SHANGHAI (Reuters) – China will encourage foreign capital to participate in its financial markets and may allow foreign-funded financial institutions to go public in the …
Australia ‘closely monitoring’ global financial turmoil -treasurer
SYDNEY (Reuters) – Australia is closely monitoring the current global financial turmoil, including the situation at Swiss lender Credit Suisse and some banks in the …
Germany’s Scholz sees no threat of new financial crisis – Handelsblatt
FRANKFURT (Reuters) – German Chancellor Olaf Scholz sought to assuage fears that the collapse of Silicon Valley Bank and problems at Credit Suisse might trigger …
S&P Global Ratings: no direct threat to Latam financial system from SVB, Credit Suisse
LONDON (Reuters) – The collapse of Silicon Valley Bank last week and the turmoil around Credit Suisse do not pose a direct threat to Latin …
Taiwanese financial sector has low exposure to Credit Suisse -regulator
TAIPEI (Reuters) – The Taiwanese financial sector’s exposure to Credit Suisse is low and “controllable”, the island’s financial regulator said on Thursday. Taiwanese insurers – …
U.S. SEC has responsibility to protect for financial stability- Chair Gensler
By Douglas Gillison (Reuters) – The top U.S. markets regulator on Wednesday renewed a vow to prosecute any misconduct threatening global markets, saying it had …
Financial Ratings Giant Issues Chilling Prediction For Entire Banking Industry
Financial Ratings Giant Issues Chilling Prediction For Entire Banking Industry Laurel Duggan on March 14, 2023 Moody’s Investor Service changed its view on the entire …
CBP Phone Scam Continues to Target Citizens Callers seek information to bypass financial protocols
HOUSTON – Telephone scammers are targeting residents nationwide to gain personal information that would bypass financial security protocols. U.S. Customs and Border Protection employees are …
Former Rep Behind Landmark Financial Reform Law Is On The Board Of NY Bank That Biden Is Bailing Out
Former Dem Rep Behind Landmark Financial Reform Law Is On The Board Of NY Bank That Biden Is Bailing Out Jason Cohen on March 13, …
New Zealand government to boost financial support for 1.4 million people
By Lucy Craymer WELLINGTON (Reuters) – The New Zealand government is boosting financial support for around 1.4 million citizens as it tries to offset three-decade …
SEC Staff Consulted With Green Financial Firm Accused Of Selling ‘Fictitious’ Carbon Credits
SEC Staff Consulted With Green Financial Firm Accused Of Selling ‘Fictitious’ Carbon Credits John Hugh DeMastri on March 11, 2023 U.S. Securities and Exchange Commission …
Moody’s downgrades credit ratings on Silicon Valley Bank, SVB Financial
(Reuters) – Rating’s agency Moody’s on Friday downgraded the ratings of SVB Financial Group and its bank subsidiary, Silicon Valley Bank. Moody’s slashed its credit …
White House: have faith in regulators when asked about SVB Financial
WASHINGTON (Reuters) – The White House on Friday said it had faith and confidence in U.S. financial regulators, when asked about the failure of SVB …
SVB Financial looks to sell itself – CNBC
(Reuters) -Startup-focused lender SVB Financial Group is looking to sell itself after an attempt to raise capital through a stock sale failed, CNBC reported on …
Brazil announces pilot for digital currency seeking to leverage financial services
BRASILIA (Reuters) – Brazil’s central bank announced the start of a digital currency pilot project on Monday, aiming to replicate the success of its instant …
China to deepen financial reform, open to more foreign investment
BEIJING/SHANGHAI (Reuters) – China will deepen financial reform and improve its regulatory regime to guard against risks to the economy, and further open up to …
Discover Financial Will Begin Tracking Firearm Purchases In April
Discover Financial Will Begin Tracking Firearm Purchases In April Bronson Winslow on March 3, 2023 Discover Financial Services has joined a coalition of companies that …
Russia’s central bank warns of growing financial sector risks
MOSCOW (Reuters) – Russia’s central bank governor on Thursday warned of possible “systemic risks” in the banking sector as lenders scramble to make up for …
Fed Chair Powell to testify at House Financial Services Committee March 8
(Reuters) – Federal Reserve Chair Jerome Powell will testify on the U.S. central bank’s semiannual monetary policy report to the House Financial Services Committee on …
Volkswagen’s financial services undergoing reorganization
FRANKFURT (Reuters) – Volkswagen is reorganizing its financial services holding companies, Volkswagen Bank and Volkswagen Financial Services said on Wednesday. “By bundling its activities in …
Supreme Court To Decide Fate Of Key Financial Regulator: ‘Constitutional Defects’
Supreme Court To Decide Fate Of Key Financial Regulator: ‘Constitutional Defects’ Katelynn Richardson on February 27, 2023 The Supreme Court announced Monday it would take …
Colombia’s Viva Air changes CEO as it battles financial woes
BOGOTA (Reuters) – Colombian low-cost carrier Viva Air said on Thursday it has appointed Francisco Lalinde as interim president and chief executive as the company …
Hong Kong GDP to grow 3.5%-5.5% in 2023 – financial sec
HONG KONG (Reuters) – Hong Kong’s economy is expected to grow 3.5%-5.5% this year after shrinking 3.5% in 2022, as it leaves behind COVID-19 restrictions …
Germans worry about inflation, say it causes financial pain – survey
BERLIN (Reuters) – Most Germans are worried about high inflation, and more than half of them report that rising prices are making them struggle financially, …
Financial Advisor Sentenced To 42 Months In Prison On Fraud And False Statement Charges
Damian Williams, the United States Attorney for the Southern District of New York, announced that ADAM BELARDINO, the former chief executive officer of the Maddox …
Love & money: Four ways to avoid financial infidelity
By Chris Taylor NEW YORK (Reuters) – Sorry to break it to you, but your romantic partner may be sharing a secret relationship. With guess …
Fed’s Williams: Financial conditions seem broadly consistent with the Fed’s outlook on policy
By Michael S. Derby NEW YORK (Reuters) – New York Fed President John Williams said financial conditions are roughly in line with what central bankers …
Prudential Financial profit falls 26% as market rout drags AUM
(Reuters) – Prudential Financial Inc reported a roughly 26% fall in fourth-quarter adjusted profit on Tuesday as a global market rout pressured the insurer’s assets …
EJ ANTONI: America Is Hurtling Toward Financial Calamity. It’s Not Too Late To Change Course
EJ ANTONI: America Is Hurtling Toward Financial Calamity. It’s Not Too Late To Change Course E.J. Antoni on February 7, 2023 Much of the rhetoric …
U.S. financial conditions may tighten further: SF Fed paper
By Ann Saphir (Reuters) – U.S. stocks may fall further, and bond yields rise, as the Federal Reserve continues its current round of interest-rate hikes …