Banking

Debt levels are now back where they were when Jim Cramer had his prophetic TV meltdown 10 years ago

• <b>It's nearly the 10th anniversary of Jim Cramer's epic "they know nothing!" rant about bank illiquidity on CNBC, so we're looking at what's changed since then.</b>• <b><br>It's not good.</b>• <b><br>US corporate debt may be so high that it's a threat to global stability, according to the IMF.</b>• <b><br>The UK</b> <b>has high unsecured consumer</b> …

Business

Bitcoin Price Tripled Since Last Year: Reasons to Hold

In April of 2016, Bitcoin price averaged at around $420 on most major Bitcoin exchange markets. Since then, over a period of 12 months, Bitcoin price …

Cryptocurrency

Credit Suisse to make capital hike decision after AGM: report

ZURICH (Reuters) - Credit Suisse (CSGN.S) will not decide on how it wants to raise fresh capital until after this week's annual general meeting, SonntagsZeitung reported on Sunday.<p>The Swiss bank is considering a quick-fire share sale or listing 20 to 30 percent of its Swiss business in order to …

Corporate Governance

The Death of Wells Fargo's Retail Strategy

<b>Wells Fargo</b> (NYSE: WFC) doesn't deserve a lot of credit for the way it's handled the fallout from its fake-account scandal, which came to light last September, but the bank is trying to make things right. To this end, every month Wells Fargo reports nearly two dozen metrics that shed light on the …

Investing

Low rates, tight margins: the mortgage market looks worryingly familiar

Eye-catching new loan deals are attracting first-time buyers in larger numbers: but the parallels with 2007 are growing increasingly uncomfortable<p>One way to help homebuyers overcome the affordability gap is to cut the cost of borrowing. At a time when the mortgage loan-to-income ratio is back at …

Budgeting

South Africa's Ramaphosa backs graft probe of Zuma's government

South African Deputy President Cyril Ramaphosa on Sunday said he wants allegations of influence-peddling in government investigated, lending his support to a probe called for by the anti-graft watchdog but which President Jacob Zuma has so far ignored.<p>Ramaphosa is considered a likely candidate for …

South Africa

Will Trump break up the banks?

<i>The smartest insight and analysis, from all perspectives, rounded up from around the web:</i><p>Wall Street's "dream president" could turn out to be its …

Wall Street

This Is Not An 'Irrational Exuberance'

This is not a market based on fundamentals.<p>The market odds are set by central banks.<p>So, follow the central banks - not the fundamentals.<p>Bespoke's …

Central Banks

UAE’s banks on the brink of revival, first-quarter results show

UAE banks maybe on the cusp of revival amid cost cutting and higher interest rates – if the first batch of first-quarter results are anything to go …

United Arab Emirates

Charlotte Hogg serves her final day at the Bank of England on Friday – leaving the possibility of a tied vote for the MPC

Bank of England deputy governor Charlotte Hogg will leave the central bank on Friday less than two months after she handed in her resignation to …

Bank of England

Alabama-based bank to build $23 mil facility in Mississippi

An Alabama-based bank will build a $23 million operation facility in Mississippi.<p>Al.com (http://bit.ly/2pjoUQh) reports that Regions Financial Corp. …

Mississippi

Public Window on Financial Complaints Could be Closing Soon

U.S. consumers filed nearly 300,000 complaints last year about their dealings with banks, credit card issuers and other financial services companies. …

Business

Federal consumer agency accuses major mortgage servicer of mishandling loans

(TNS) — The Consumer Financial Protection Bureau sued Ocwen Financial Corp., one of the nation’s largest mortgage servicers, on Thursday, alleging …

Loans

Restored Saudi state perks may avert recession, help economic reforms

| DUBAI<p>The decision by Saudi Arabia's King Salman to restore cuts to financial allowances for civil servants and military personnel is being seen as helping the kingdom avoid recession this year while smoothing the path toward economic reforms.<p>Last September, the government sharply reduced …

Riyadh

Swiss Central Bank on Alert as French Elections May Bolster Franc - Bloomberg

The Swiss National Bank stands ready to defend the franc with interest-rate cuts and market interventions if investors pile into the haven currency …

Central Banks

Cathedrals in crisis: fears of closure as half face big cash problems

Bishop examining finances of England’s Anglican cathedrals to look at possible impact ‘if individual cathedrals fail’<p>As many as half of England’s Anglican cathedrals are facing financial crisis and a closure cannot be ruled out, according to the chair of an investigative task force set up by the …

Budgeting

'Big banks want to come see us every week': Starling CEO Anne Boden on building a bank from scratch, making money, and Monzo's Tom Blomfield

LONDON —Britain is going through a retail banking boom right now, with several new, app-only banks setting up shop.<p>Starling was one of the first. Anne Boden quit her position the COO of Allied Irish Bank (AIB) in 2014 to build a mobile-first bank and has been doing that ever since. This week the …

FinTech

Top-Ranked Banks Slip to Bottom as Scandinavian Haven Splinters - Bloomberg

The haven play just isn’t what it used to be for Nordic banks.<p>Cushioned with capital and relatively unburdened by non-performing loans, Scandinavia’s …

Business

Government securities are causing a headache for investors – they aren't as safe as they once were

Government securities were once regarded as gilt-edged investments, guaranteeing a steady income and safety of capital. Income levels have declined …

Economics

Four extra bank holidays: Just how much would Labour's policy cost the economy?

We may already be in the season of bank holiday bonanzas (thanks Easter!) but who wouldn't want more?<p>The country was treated to an additional day off …

Budgeting

Vijay Mallya case: Banks looking at bilateral pact to sell Kingfisher House

Lenders are considering making a fresh attempt to sell Kingfisher House here to recover their dues from Vijay Mallya, adopting a model followed in …

Pakistan

Finance ministry in talks with PSBs to get a fix on growth plans, funding

<b>Mumbai:</b> The finance ministry has initiated detailed discussions with select public banks to assess their growth blueprint over the next three years …

Banking (India)

LafargeHolcim CEO to step down over Syria investigation: source

LafargeHolcim (LHN.S) is close to announcing that its chief executive Eric Olsen is to step down following an internal investigation into activities at a former Lafarge cement plant in Syria, a source familiar with the matter said on Sunday.<p>The source said there would be a change in leadership at …

21st Century

Global CEOs Call for Greater Disclosure of Climate Risks

The 27 business leaders were convened by the World Economic Forum and include the chief executive officers of global banks, consumer goods and …

Governance

Don’t miss reading this comment

<b>Posted by Misha</b>Around Easter, Daphne made some serious allegations against Pilatus Bank. On the basis of those allegations alone, the Malta Financial …

Malta

Indexing Pivotal in S&P Global's Rebound From Crisis Scandal

Once vilified for its role in the financial crisis, S&P Global Inc. is emerging as one of the biggest beneficiaries of the rise of passive investing.<p>The New York-based financial-information giant collects a tiny fee from every investor that buys an exchange-traded fund tied to one of its market …

Wall Street

Navios Maritime Partners: Yang Ming Time Charter Credit Risk Increases

Yang Ming announced that it is suspending trading in its stock until May 4th and plans to do a reverse stock split.<p>The YM trade suspension and stock …

Stocks

Karen Pence on the 'life saving' power of art therapy

As Second Lady of the United States, Karen Pence is making it her mission to promote the profession of art therapy, which she says "not only changes …

Mobile Banking

Week Ahead: Geopolitics To Cloud Central Bank Outlook

<b>European and Japanese Policy Makers Announce Policy Decisions</b><p>Higher political risk in 2017 was forecasted and so far it hasn't disappointed. The …

Central Banks

Today’s executive orders are the nail in the coffin of Trump’s economic populism

There’s no workers’ party here.<p>Friday afternoon, Donald Trump traveled to the US Treasury Department where he’s expected to sign a new executive order. The order aims at making life easier for American companies that want to avoid corporate income taxes, relax regulation on some large financial …

Business