Banking

Ex-CIA chief: Flynn's firm discussed removing cleric from US

WASHINGTON (AP) — Former CIA Director James Woolsey has accused the Trump administration's former national security adviser, Michael Flynn, of participating in a discussion with Turkish officials about possibly subverting the U.S. extradition process to remove a Turkish cleric from the United …

Mobile Banking

Bernanke's Tale Underscores Dodd-Frank's Failure

Regulation: It sounds like the punchline to a bad joke: Former Fed chief Ben Bernanke was recently turned down to refinance his mortgage. If the …

Ben Bernanke

Studies Confirm Dodd-Frank Strangling Small Lenders

<b>Red Tape:</b> New studies of banking trends confirm earlier warnings that the Dodd-Frank Act would drive community banks out of the market and choke off …

Bank union protests RBI decision to keep branches open next week

<b>New Delhi:</b> Bank officers’ union All India Bank Officers’ Confederation (AIBOC) has registered a protest against the Reserve Bank of India’s decision …

Business (India)

Lords call for the banks to get back to basics

A ‘basic account’ is just that … but they aren’t well promoted probably because they don’t make money<p>There are almost 8m basic bank accounts open in the UK, and most of the big banks offer them, but they are arguably the Cinderella of the financial services world. You won’t find sports stars …

Business (UK)

ECB's next policy moves are in flux: Bundesbank

FRANKFURT (Reuters) - The European Central Bank's next policy moves and the order they come in are still up in the air and might even include a rate hike or sales of bonds, a director at Germany's central bank said.<p>Joachim Wuermeling's comments signal Germany's impatience with the ECB's ultra-easy …

Central Banks

Here's why the ECB probably won't raise rates before tapering

Since the ECB meeting earlier this month, there has been increasing speculation that they may raise the deposit rate, currently set at -0.4%, before beginning to taper their Quantitative Easing (QE) programme, currently set at €80bn of bond purchases per month. Most recently, Ewald Nowotny from the …

Central Banks

Russia Gold Move to End Petro Dollar and Central Bank Cartel Economic Collapse News

Central Banks

An anti-Trump movement is calling for the boycott of these 36 DAPL-linked banks

Oil is expected to start flowing through the Dakota Access Pipeline (DAPL) under Lake Oahe near the Standing Rock Sioux Reservation soon.<p>Proponents of the $3.8 billion pipeline say it will create jobs in the oil industry, while environmental activists argue the pipeline will damage indigenous land …

Business

Gulf Countries Weigh Pledging Future Oil Revenues to Shore Up Budgets

Some Middle Eastern oil producers are considering taking money upfront against future production, as the fall in the price of crude pushes them to look at new ways to plug budget holes.<p>In this type of pre-export finance, companies or countries pledge revenues from future sales to banks and trade …

Oil

The Upcoming Ruble Devaluation Will Make This ETF Soar

The Russian ruble's devaluation will continue after a decline in the interest rates caused by the actions of the Russian central bank planned for the …

Stocks

World Bank commits $ 100 m for health project in Uttarakhand

The World Bank has approved a $ 100 million loan for a health project in Uttarakhand to provide medical services in the state. The financing …

World Bank

Why Western Finance Will Continue to Dominate the Stock Markets

<b>Recently the Shanghai-Hong Kong trade link has been signed, who will benefit the most from this agreement?</b><p>It’s an attempt to integrate more and more …

Innovation

Spanish bank Unicaja eyes listing amid flurry of IPOs

Mid-sized Spanish lender Unicaja is moving ahead with a long-mooted stock market listing, joining a rush of initial public offerings (IPO) in Spain in the first few months of the year.<p>Unicaja, which put off listing its shares last year when market conditions were tougher and Spain was mired in …

21st Century

China’s HNA to buy stake in Old Mutual US asset management unit

HNA Group, the Chinese travel-to-financial services conglomerate, has agreed to acquire a 25 per cent stake in Old Mutual’s US asset management …

Wall Street

Pakistan central bank keeps main policy rate steady at 5.75%

Pakistan's central bank maintained its main policy interest rate at 5.75 percent on Saturday, the bank said in a statement, citing stable inflation …

Central Banks

Pakistan Holds Key Rate as Inflation Surges to Two-Year High - Bloomberg

Pakistan’s central bank left its benchmark interest rate unchanged for the fifth straight meeting, unfazed as inflation rises at the fastest pace in …

Central Banks

Get While The Gettin's Good

<i>By</i> <i>Breakingviews</i><p>Chinese dollar-bond issuers are having a moment in the sun. A recent regulatory tweak allowing businesses to make onshore guarantees …

Business

A German Bank Accidentally Transferred $5.4 Billion to Four Other Banks - Bloomberg

Germany’s state-owned development bank KfW, which gained publicity for erroneously transferring hundreds of millions of euros to Lehman Brothers …

Business

Top 25 Annual Fintech Conferences Your Business Needs Attend

The rapid growth of the fintech industry has been matched by the mushrooming number of international conferences.<p>As fintech continues to attract interest among a wide range of industries and offer more applications for some of the key issues impacting industries like payments, insurance, …

Retail Banking

OPEC Be Warned: Russia Battens Down the Hatches for Oil at $40 - Bloomberg

Perhaps the Bank of Russia knows something the world doesn’t.<p>As the Organization of Petroleum Exporting Countries and its allies prepare to meet for …

Oil

The race to make India a cashless economy

Against the backdrop of the demonetization exercise that shook up the Indian economy last November, there’s a major tussle brewing in the consumer banking space in India.<p>Vying for the chance to handle citizens’ money are two major sets of players – the traditional banks, and a new age of “Payments …

Airtel

Why China's Latest Cash Crunch Is Scarier This Time

This week’s convulsions in China’s short-term borrowing markets are stirring memories of a severe cash crunch in 2013. Four years on, Beijing’s tightrope walk is looking far tougher.<p>At first glance, things don’t look as desperate now. In June 2013, the cost of borrowing money overnight touched more …

Business

Britain's poorest, excluded from banking, turn to high-cost credit - report

Poorer people in Britain are being excluded from the financial system and forced to rely on expensive and substandard banking products, according to a report by British lawmakers published on Saturday.<p>There are 1.7 million adults in the country that do not have access to a bank account, the report …

House of Lords

Intesa: A 7% Yielder With Good Dividend Growth Prospects

Intesa is a well-run bank with a strong capitalization, enabling it to provide an attractive shareholder remuneration policy.<p>It currently offers a …

Stocks

New Partnership Enables Dash Users to Buy and Sell Cryptocurrency at Banks

Dash has partnered with Wall of Coins, a peer-to-peer bitcoin exchange, to allow users to exchange the cryptocurrency for cash at financial service …

Bitcoin

CaixaBank Chairman Says Lax ECB Policy Is ‘Good'

CaixaBank Chairman Jordi Gual says it is “good” that Mario Draghi is maintaining a lax monetary policy and thinks the ECB should keep rates low for …

Central Banks

Deutsche Bank picks new London headquarters

Germany's biggest lender, Deutsche Bank, has chosen a new office for its London headquarters. Policymakers viewed the move as a vote of confidence in Britain's capital despite the country's decision to leave the EU.<p>Germany's Deutsche Bank revealed Friday it had picked a site for its new British …

Financial Services

Russian central bank confounds forecasts with interest rate cut

Russia has moved to lower interest rates and boost growth as its financial pressures ease, with a fall in inflation reassuring policymakers.<p>The cut is only a small one, a quarter of one percent to 9.75%, but it bucked the forecasts and may be part of efforts to devalue the rouble, which had firmed …

Central Banks

Embattled bankers embrace Trump’s call for deregulation: ‘Profit is not a four-letter word.’

Packed into a ritzy Washington hotel ballroom, a meeting of nearly 1,500 bankers momentarily turned into a pep rally. Be proud of being a banker and of the industry’s record profits, the speaker implored the assembled. In fact, he urged, it’s time to ask Congress for help so the industry can do …

Business