ZURICH (Reuters) – UBS Group (UBSG.S) intends to pay its 2019 dividend, the Swiss bank said on Monday, despite guidance from markets supervisor FINMA, the Swiss government and international banking groups to limit payouts as the coronavirus outbreak hits the g... More »
ZURICH (Reuters) – Credit Suisse (CSGN.S) on Monday cleared CEO Tidjane Thiam and other top executives from knowledge of a second spying incident, saying former Chief Operating Officer Pierre-Olivier Bouee had the Swiss bank’s then-head of human resources foll... More »
RIYADH (Reuters) – Saudi Arabia’s central bank is monitoring banking indicators on a daily basis and is not seeing any impact on liquidity from oil giant Aramco’s initial public offering (IPO), its governor said on Sunday. Saudi Arabian Monetary Authority gove... More »
RIYADH (Reuters) – Saudi Arabia’s banking sector has a high level of liquidity, its central bank governor said on Sunday, as banks in the Gulf state offer leverage to Saudi investors for shares in Saudi Aramco’s approaching initial public offering. “The Saudi ... More »
LONDON (Reuters) – Precious metals enjoyed their second biggest inflows in the week to Wednesday, Bank of America Merrill Lynch said on Friday, as festering trade tensions and global growth woes triggered a rush for safe haven assets. A total of $2.8 billion w... More »
FRANKFURT (Reuters) – Euro zone banks will be exempted from paying the European Central Bank a penalty charge on idle cash worth six times their mandatory reserves, the ECB said on Thursday. “This decision aims to support the bank-based transmission of monetar... More »
MILAN (Reuters) – Italy’s ruling parties could expose the nation to market shocks and put its savings at risk if they were not ready to compromise with the European Union over their budget plans, Prime Minister Giuseppe Conte told Corriere della Sera newspaper... More »
FRANKFURT (Reuters) – Deutsche Bank denied a report that said some of its executives rejected the advice of the bank’s own anti-money laundering specialists and prevented some transactions involving entities controlled by President Donald Trump and his son-in-... More »
CAIRO (Reuters) – Sudan’s central bank on Sunday strengthened the Sudanese pound to 45 pounds to the dollar from 47.5, state news agency SUNA reported. It said the measure coincided with the sharp rise in the price of the pound against the dollar on the parall... More »
ROME (Reuters) – Italian Economy Minister Giovanni Tria called on Tuesday for greater risk sharing in order to strengthen the euro zone banking system. In a speech to a gathering of bankers in Rome, Tria said boosting Italy’s economic growth was “no less impor... More »
SINGAPORE (Reuters) – A former Goldman Sachs Group Inc. (GS.N) banker is in talks with U.S. prosecutors to potentially plead guilty to criminal charges stemming from an alleged scheme to steal billions of dollars from a Malaysian state investment fund, the Wal... More »
BERLIN (Reuters) – German Chancellor Angela Merkel exchanged views with European Central Bank President Mario Draghi on Monday, her spokesman said, as part of her regular informal meetings with leaders of European institutions. Merkel’s spokesman, Steffen Seib... More »
BERLIN (Reuters) – Chancellor Angela Merkel said on Monday that Germany and France agreed on most fundamental issues related to Europe but the two countries sometimes had different emphases on how to proceed with the euro zone. French President Emmanuel Macron... More »
(Reuters) – Speculators’ net bearish bets on U.S. 10-year Treasury note futures climbed to a record high earlier this week when the 10-year yield rose to 3 percent for the first time in over four years, according to U.S. Commodity Futures Trading Commission da... More »
BERLIN (Reuters) – French President Emmanuel Macron said on Thursday that euro zone member states should add solidarity mechanisms such as a banking union to the existing instruments meant to improve competitiveness if they want the bloc to thrive. “No monetar... More »
BOAO/BEIJING, China (Reuters) – Chinese President Xi Jinping on Tuesday promised to open the country’s economy further and lower import tariffs on products including cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United Sta... More »
NEW YORK (Reuters) – Foreign investors and central banks purchased fewer U.S. Treasuries in late March when the government sold a record high $294 billion of debt securities, Treasury Department data released on Monday showed. Market attention to foreign holdi... More »
PARIS (Reuters) – Germany’s new finance minister said on Friday after talks with his French counterpart that he wanted to be a force for further integration in the euro zone in conservative Chancellor Angela Merkel’s government. Social Democrat Olaf Scholz, wh... More »
BEIJING (Reuters) – China’s banking regulator said on Monday it will broaden tools for commercial banks to replenish their capital to boost their ability to support economic growth. The China Banking Regulatory Commission (CBRC) is amending rules for commercia... More »
The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland January 22, 2018. REUTERS/Arnd Wiegmann ZURICH (Reuters) – UBS’s investment banking business in the United States is doing well but lags its boss’s ambitions, he said on Friday. “In o... More »
The sign for Swiss bank Julius Baer is seen at a branch office in Luzern, Switzerland, November 23, 2017. REUTERS/Arnd Wiegmann ZURICH (Reuters) – Swiss private bank Julius Baer said on Tuesday it bought the 20 percent in Italian wealth management firm Kairos ... More »
BEIJING (Reuters) – The value of assets held by China’s banking sector rose 10.0 percent to 241.58 trillion yuan ($36.61 trillion) as of end-October compared with a year earlier, the China Banking Regulatory Commission (CBRC) said on Monday. Liabilities rose 1... More »
BEIJING (Reuters) – China’s banking regulator said on Friday that it has issued draft guidelines for commercial banks to better manage their interest rate risks, as China pushes forward with its interest rate liberalization reform. New rules have details on ba... More »
Companies are not bluffing when they threaten to move business from London due to uncertainty over Britain's departure from the European Union, mayor Sadiq Khan said on Monday, adding a transition deal would allow them to make plans more securely. More »
New Bank of England Deputy Governor Dave Ramsden said on Tuesday he was in no hurry to vote for an interest rate hike because he saw little sign of inflation pressure building in Britain's labor market. More »
China has launched probes into consumer loans that are being misused for home purchases, warning they cannot be used to "fuel property bubbles", a senior banking official said on Friday. More »
The growth of China's overall leverage ratio has been clearly slowing and is now stabilizing, the country's state planner said on Monday. More »
Wells Fargo & Co. (WFC.N) has hired law firm Sidley Austin to take the lead in preparing Chief Executive Tim Sloan for his appearance before the U.S. Congress next month to answer questions about a year-long sales practices scandal, according to four sources w... More »
U.S.-based taxable-bond funds took in $7 billion during the latest week, the largest weekly intake since July, adding to an already strong year for debt against the backdrop of a rate-hiking cycle, Lipper data showed on Thursday. More »
Wells Fargo (WFC.N) Chief Executive Tim Sloan is due to testify before Congress on Oct. 3 as the bank deals with fallout from a sales scandal a year ago that continues to spark new revelations. More »
The wealth of U.S. households rose to $96.2 trillion in the second quarter of this year as U.S. stock prices hit record highs and home values continued to climb, a report by the Federal Reserve showed on Thursday. More »
Australia's Macquarie Group Ltd has overtaken Goldman Sachs to break into the top three banks for commodities business, having significantly expanded its U.S. energy operations in recent years while rivals cut back. More »
Geneva prosecutors are investigating after toilets in a bank and three restaurants were blocked by about $100,000 in high-denomination euro banknotes, they said on Monday. More »
Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. More »
Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. More »
Citigroup Inc named Peadar MacCanna and Murat Demirel as trade co-heads for its treasury and trade solutions (TTS) business in Europe, Middle East and Africa (EMEA). More »
India could be forced to cut spending on key infrastructure such as railways and highways as lower-than-expected tax collections and sluggish growth have upset the government's budget calculations, two finance ministry officials said. More »
Portugal's 10-year bond yield hit its lowest level since January 2016 on Monday, driven by the country regaining an investment grade credit rating after 5-1/2 years, effectively drawing a line under its debt crisis. More »
ZhongAn Online Property and Casualty Insurance Co, China's first internet-only insurer, has covered the institutional tranche of its up to $1.5 billion initial public offering (IPO) multiple times over, sources close to the deal said on Monday. More »
Credit Suisse has set up a new department to nurture socially conscious investing, the latest effort by a major bank to cater for growing demand for so-called impact investing. More »
Alphabet Inc's Google on Monday launched a localized payments app for India as it tries to gain a foothold in the country's rapidly-growing digital payments space. More »
German Finance Minister Wolfgang Schaeuble said on Wednesday that European Commission President Jean-Claude Juncker's plan to build a closer European Union based on an expanded euro zone was largely in line with Germany's vision for the bloc. More »
The European Union should have a minister of economy and finance but no separate euro zone budget or parliament, the head of the European Commission said on Wednesday. More »
European shares rose on Monday, led by insurers as the downgrade of Hurricane Irma in the United States raised the prospect that costs for the industry may be lower than initially feared. More »
London remains the globe's most attractive financial center, extending its lead over New York despite Britain's looming departure from the European Union, a survey found on Monday. More »
Europe's regulators are competing to hire risk specialists to prepare for an influx of banks escaping Brexit, nudging up salaries and stretching staff budgets. More »
PSA Group will support newly acquired Opel introducing electric cars but the switch must be profitable for it to be successful, PSA Chief Executive Carlos Tavares told German paper Bild am Sonntag. More »
A consortium of U.S. banks is taking another step next week to attract a critical mass of users to their Zelle network, a rival to PayPal's Venmo for handling instant payments between individuals with smartphones. More »
If you were not yet convinced that your personal data was at risk from cyber thieves, the latest breach of 143 million consumer records at credit bureau Equifax should scare you straight. More »
Euro zone inflation could rise back the European Central Bank's target of almost 2 percent in 2020 as ECB President Mario Draghi predicted on Thursday, Latvian central bank chief Ilmars Rimsevics told a news conference on Friday. More »
The European Central Bank will maintain its ultra-easy policy stance until it is happy with the path of inflation in the euro zone, ECB's policymaker Philip Lane said, citing a new round of cheap loans to banks as one of the available tools. More »
The European Central Bank should be careful not to miss the right moment to tweak its policy stance, Bundesbank President Jens Weidmann, one of the ECB's top critics, said on Friday. More »
When oil giant Saudi Aramco discloses its financials for the first time next year, it must either surprise investors with world record profits or reduce its aspirations for a $2 trillion valuation in its initial public offering (IPO). [IPO-ARMO.SE] More »
UBS Group's (UBSG.S) asset management unit said on Thursday it aims to launch its first Chinese private fund by the end of the year, as Europe's fourth-biggest money manager seeks a slice of China's fast-growing, 10 trillion yuan ($1.54 trillion) private fund ... More »
European Central Bank policymakers meeting on Thursday were in broad agreement that their next step will be reducing their bond purchases and discussed four options, two sources with direct knowledge of the discussion said. More »
European shares traded lower on Friday across most exchanges and sectors, failing to get support from subdued sessions in Asia and on Wall Street, and as the euro's rally dims appetite for regional stocks. More »
Greek Prime Minister Alexis Tsipras urged French businesses on Friday to invest in Greece, as it emerges from crisis, and assured them that they would not regret it. More »
The U.S. consumer financial watchdog on Thursday attempted to repel a Trump-administration attack on former President Barack Obama's sweeping student loan reforms and defended itself against Republican attempts to weaken its powers. More »
Some 60 to 70 Swiss private banks are facing serious problems that could force them to close down or sell up, according to a study published on Thursday by consultancy KPMG. More »
Revenue at the world’s 12 largest investment banks rose in the first six months of 2017 thanks to a stronger performance in the underwriting of debt and equity issues compared with a year ago, a survey showed on Thursday. More »
Hong Kong needs to find new ways to attract so-called new-economy companies to stay competitive, Charles Li, chief executive of bourse operator Hong Kong Exchanges & Clearing Ltd (HKEX) (0388.HK), told Reuters on Tuesday. More »
Hong Kong Exchanges & Clearing Ltd (HKEX) (0388.HK) is still in talks with oil giant Saudi Aramco, with the bourse's planned IPO investment link with China key to clinching the potential listing, Chief Executive Charles Li told Reuters on Tuesday. More »
Commonwealth Bank of Australia (CBA.AX) was hit on Tuesday with potentially Australia's biggest class-action lawsuit over a money-laundering scandal that has already smashed its share price and exposed it to billions of dollars in fines. More »
Democrat Richard Cordray delivered a campaign-style stump speech at a sprawling Labor Day celebration on Monday, but the U.S. Consumer Financial Protection Bureau chief stopped short of saying whether he intends to run for governor of Ohio. More »
U.S. fund investors regained their risk appetite during the latest week, draining money market funds and pouring their cash into stocks after six straight weeks of withdrawals. More »
Vanguard Group, one of the world's biggest fund managers, voted against three directors at Wells Fargo & Co this year, including Chairman Stephen Sanger, according to U.S. filings, a rare rebuke from the bank's second-largest shareholder. More »
After Taiwan's state-run Mega Financial Holding Co was fined $180 million by U.S. authorities for lax enforcement of anti-money-laundering rules at its New York branch, the bank started a rigorous training program for its staff. More »
Lebanon has begun reforms to repair its fragile economy after years of paralysis in decision-making but is under pressure to do more to prevent its rising debt spinning out of control. More »
Goldman Sachs Group Inc will detail plans to turn around performance at its core bond-trading unit next month after unusual pressure from large investors frustrated by vague explanations of its troubles, people familiar with the matter told Reuters. More »
The leaders of Germany and France said on Tuesday they are ready to press ahead with deeper European integration, promising a tighter euro zone at the core of the European Union shaken by Britain's vote to leave. More »
Liechtenstein's LGT Bank, owned by the mini-state's ruling family, hopes to stand out in Asia's crowded private banking market by touting the clan's own track record of preserving wealth. More »
Commonwealth Bank of Australia (CBA.AX), the nation's biggest lender, has been hit with a public inquiry into its governance and culture - the second regulatory probe to be launched this month after it was accused of massive breaches of money-laundering rules. More »
U.S. President Donald Trump signed an executive order that prohibits dealings in new debt from the Venezuelan government or its state oil company on Friday in an effort to halt financing that the White House said fuels President Nicolas Maduro's "dictatorship.... More »
When Alexander Vinnik was arrested on money-laundering charges at a Greek hotel in late July, the status of his Jabber secure online messaging account was set to "away". More »
U.S. action against suspected Russian cyber criminals has surged to a record high this year despite efforts by President Donald Trump to improve ties with Moscow. More »
Middle East investment companies are ramping up their lending to businesses, providing a lifeline for small and medium-sized firms struggling to secure finance from banks that tightened credit after a suffering rise in bad loans. More »
Swiss bank Vontobel has agreed to buy a roughly 2 billion Swiss franc ($2.1 billion) portfolio of eastern European private banking clients from Notenstein La Roche Private Bank Ltd, it said on Monday. More »
A money laundering probe at Commonwealth Bank of Australia (CBA.AX) is the latest in a slew of scandals denting the reputation of Australian banks as simple, reliable lenders at the forefront in the battle against financial crime. More »
Goldman Sachs (GS.N) received approval on Sunday to trade equities in Saudi Arabia, joining the growing band of western investment banks and fund managers expanding in the kingdom. More »
I'm here to send you the regards of the Federal Chancellor. I am entitled to tell you we want you in Germany. This private message from Angela Merkel, delivered by a regional politician to Wall Street bankers last year, is having the desired effect. More »
Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade. More »
Two lawyers appointed to senior jobs at the U.S. Securities and Exchange Commission have ties to major companies including financial firms Goldman Sachs Group Inc (GS.N) and Wells Fargo & Co (WFC.N) that could complicate efforts to regulate them, according to ... More »
Investors who place wagers on the direction of interest rates got a new set of U.S.-listed investment products on Wednesday, but their complexity may prove an obstacle to them gaining broad acceptance. More »
European shares rose on Monday after geopolitical tension had sent them to their worst weekly losses of the year. More »
Saudi Arabia favours New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, people familiar with the matter told Reuters. More »
U.S. fund investors reduced their exposure to stocks and bought bonds during the latest week, Lipper data showed on Thursday, as saber-rattling between the United States and North Korea appeared to shake investor sentiment. More »
A group of U.S. senators from both parties on Wednesday turned up the heat on Wells Fargo Inc. over its latest scandal, in which hundreds of thousands of car-loan borrowers were charged each month without their knowledge for collision insurance, which many of ... More »
Basic resources and energy stocks helped European benchmarks build on the previous week's robust gains on Monday, as commodity prices climbed. More »
U.S. financial technology provider Fiserv made an improved offer for Monitise worth about 75 million pounds ($98 million) on Monday, hoping to secure backing from the British financial services technology group's investors. More »
The Commonwealth Bank of Australia (CBA.AX) said on Monday a software "coding error" was responsible for the "vast majority" of the anti-money laundering law breaches it was accused of last week. More »
The Trump administration’s vision of a rollback in banking regulation isn’t just dubious medicine for the economy, it will do shareholders no favors. More »
Wells Fargo & Co (WFC.N) is examining whether it caused unnecessary financial harm to customers through mortgage fees, frozen deposit accounts and "add-on" products like identity theft protection, the bank said in a U.S. securities filing on Friday. More »
Borrowers unwittingly charged for auto insurance when they took out car loans from Wells Fargo & Co asked a U.S. court on Friday to force the bank to help them repair their credit scores. More »
Wells Fargo & Co (WFC.N) will pay the U.S. government $108 million to settle a whistleblower lawsuit claiming it charged military veterans hidden fees to refinance their mortgages, and concealed the fees when applying for federal loan guarantees. More »
Republican Senator Jerry Moran said on Thursday he is seeking additional information on recent revelations that Wells Fargo & Co (WFC.N) enrolled unknowing borrowers in costly auto insurance, putting more pressure on the bank whose reputation is already marred... More »
FILE PHOTO: The headquarters of Germany’s Deutsche Bank is seen early evening in Frankfurt, Germany, January 26, 2016. Deutsche Bank has exchanged a pre-let agreement for its new City of London headquarters, the building’s developer Land Securities said on Tue... More »
Employees of customer support team of the Wnet internet provider work at the company’s headquarters in Kiev, Ukraine July 26, 2017. When the chief of Microsoft Ukraine switched jobs to work for President Petro Poroshenko, he found that everyone in the office u... More »
FILE PHOTO – A Chinese national flag flutters outside the headquarters of the People’s Bank of China, the Chinese central bank, in Beijing, April 3, 2014. China’s central bank has found 40 banks in violation of interbank account regulations and have ordered th... More »
The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. Charter Communications Inc’s shares surged to a record high on Monday after a source said Japan’s SoftBank Group Corp was considering an acquisition ... More »
