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  • 02/24/2018 18:56:34

    Bank of America takes aim at gun-making clients

    (Reuters) - Bank of America Corp on Saturday became the latest financial heavyweight to take aim at gunmakers, saying it would ask clients who make assault rifles how they can help end mass shootings like last week's massacre at a Florida high school.

  • 02/24/2018 16:36:17

    EIB investigates loans to Daimler in light of diesel questions: Welt

    The European Investment Bank may ask Daimler to pay back loans extended for research and development in light of a report linking the Mercedes maker to diesel emission-test cheating, Welt am Sonntag reported. The company has received a total of 3.8 billion euros in loans from the EIB since 2000, with around 2 billion still outstanding, the newspaper said.

  • 02/23/2018 16:34:28

    Your Money Adviser: A New Tax Scam, and Tips on How to Deal With It

    A big deposit from the I.R.S. unexpectedly shows up in your bank account. What should you do? First off, don’t spend it. You may be a victim of identity fraud.

  • 02/23/2018 13:36:45

    BB&T Shares Brush Off 'Service Outage'

    BB&T(BBT) shares were in positive territory on Friday even as millions of the North Carolina-based bank's customers were unable to access their accounts after a service outage. Shares were trading 1.5% higher at $55.12 at 3:24 pm ET in New York. BB&T (BBT) said it is restoring some of the services it lost after what it called an equipment malfunction.

  • 02/23/2018 12:58:09

    Indian regulator orders HDFC Bank to probe suspected results leak

    MUMBAI, Feb 23 (Reuters) - India's market regulator ordered HDFC Bank on Friday, to conduct an internal inquiry into the suspected leaking of key unpublished financial information and to strengthen its handling of such data.

  • 02/23/2018 12:08:32

    UPDATE 1-Brazilian bank Inter explores IPO and stake sale - sources

    SAO PAULO, Feb 23 (Reuters) - Brazilian online bank Banco Intermedium has hired an investment bank to look for potential buyers for a stake while it also explores an initial public offering, two people with knowledge of the matter said.

  • 02/23/2018 11:41:11

    Bank of America sees cryptocurrencies as one of many significant and increasing' competitors

    The financial services industry is "highly competitive" and subject to stark disruptions, including from cryptocurrencies, Bank of America said in its annual filing with the Securities and Exchange Commission Thursday. The bank referred to cryptocurrencies as "other market participants who engage in business or offer products in areas we deem speculative or risky." It was the first time the bank had acknowledged crypto as a risk factor. Shares are up more than 29% over the past 12 months, nearly double the return for the S&P 500 . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/23/2018 10:43:48

    BB&T's online banking service hit by data center glitch

    BB&T Corp(BBT) customers could not access ATMs and online banking accounts after a malfunction at one of its data centers, the bank said on Friday. Its ATMs and phone banking services were back online after a brief outage, said Brian Davis, a spokesman for the North Carolina-based lender.

  • 02/23/2018 09:51:46

    Fed balance sheet should end up higher than $2.9 trillion, Dudley says

    The Federal Reserve should stop shrinking its balance sheet when it gets down to a level somewhere higher than $2.9 trillion, said New York Fed President William Dudley on Friday. During comments at a Chicago Booth monetary policy forum, Dudley said he thought the Fed needed a large balance sheet to set a floor for short-term interest rates. The Fed has started to slowly shrink its balance sheet from $4.5 trillion but has not yet specified at what level it would stop. Dudley may not have a say in the final decision as he is set to retire later this year. But the New York Fed's views carry a lot of weight at the central bank as they are in charge of the market implementation of central bank policy. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/23/2018 09:50:09

    U.S. appeals court revives Schwab Libor-rigging claims against banks

    NEW YORK (Reuters) - Charles Schwab Corp and several of its mutual funds persuaded a U.S. appeals court on Friday to revive their lawsuit seeking to hold 17 banks responsible for manipulation of the benchmark Libor interest rate.

  • 02/23/2018 09:47:04

    UPDATE 1-U.S. appeals court revives Schwab Libor-rigging claims against banks

    NEW YORK, Feb 23 (Reuters) - Charles Schwab Corp and several of its mutual funds persuaded a U.S. appeals court on Friday to revive their lawsuit seeking to hold 17 banks responsible for manipulation of the benchmark Libor interest rate.

  • 02/23/2018 09:00:11

    Fed says it is still planning to raise interest rates gradually

    The Federal Reserve is planning further gradual interest-rate increases but still plans to keep the federal funds rates on the low side, the central bank said Friday in its monetary policy report to Congress. The report, which Chairman Jerome Powell will testify about next week, couched monetary policy in very similar terms to the statement the Fed gave at its last policy meeting in January. The Fed didn't seem alarmed about recent pay developments, saying the "growth of labor compensation has been moderate." On the stock market, the Fed said valuation pressures remain elevated and that there are signs nonbank financial leverage has been building, including to hedge funds that invest in stocks.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/23/2018 07:38:14

    Dow jumps 150 points as stock market tries to end choppy week on a high note

    The Dow Jones Industrial Average opened higher on Friday as the stock benchmarks attempted to shake off concerns about rising bond yields and inflation to finish the week on an uptrend. The Dow was up about 150 points, or 0.6%, at 25,103, while the S&P 500 index was up 0.5% at 2,717. The Nasdaq Composite Index rose 0.6% at 7,253. For the shortened-holiday week, the Dow and the S&P 500 were on pace for weekly drops of 0.2%, while the Nasdaq Composite, which booked its fourth daily decline in a row on Thursday, marking its longest skid since November of 2016, was still set for a weekly gain of about 0.3%. Looking ahead, markets were awaiting a release from a report on monetary policy at 11 a.m. Eastern from the Federal Reserve, which comes ahead of Jerome Powell's inaugural testimony before congress as Fed boss next week. In corporate news, Shares of Blue Buffalo Pet Products Inc. soared after General Mills Inc. said it planned on buying the pet-products company in an $8 billion deal. Weekly moves for equities have been market by continued volatility as investors fret about rising borrowing costs and worries that resurgent inflation may prompt the Fed to hike interest rates at a quickened pace. On Wednesday, following minutes from the central bank's policy committee gathering in January, which suggested that rate hikes were on the horizon, the yield of the benchmark 10-year Treasury note rose to a fresh four-year peak at 2.956%, prompting a selloff in stocks. However bond yields, which move in the opposite direction of prices, have since moderated. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/22/2018 23:07:51

    PRESS DIGEST- New York Times business news - Feb 23

    The following are the top stories on the New York Times business pages. - After a barrage of customer complaints this week, the First National Bank of Omaha said on Thursday that it would withdraw its National Rifle Association-branded Visa credit card.

  • 02/22/2018 21:26:24

    NRA-branded Visa card dropped by First National Bank of Omaha

    First national Bank of Omaha says it received complaints amid an intensifying national debate on gun control        

  • 02/22/2018 15:44:38

    EMERGING MARKETS-Mexico peso firms on rate hike bets, weaker U.S. dollar

    By Miguel Angel Gutierrez and Sheky Espejo MEXICO CITY, Feb 22 (Reuters) - Latin American currencies gained on Thursday as the U.S. dollar's rally from a three-year low last week ran out of steam, with the Mexican peso strengthening more than 1 percent on strong bets Mexico's central bank could again hike interest rates. Minutes of the latest monetary policy meeting showed Mexico's central bank board members are concerned about persistent inflation pressures and risks that the local

  • 02/22/2018 14:42:31

    Mueller brings new charges against Manafort, Gates

    Special Counsel Robert Mueller announced a 32-count indictment against Paul Manafort, the Trump campaign's former manager, and Rick Gates, who also was on the Trump campaign. The new charges include a failure to file reports of foreign bank accounts and bank fraud. Manafort and Gates allegedly engaged in a scheme to hide income they received from representing the government of Ukraine and from representing Victor Yanukovych after he fled to Russia.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/22/2018 14:20:07

    Take A Peek Inside The Market For Stolen Usernames And Passwords

    Our usernames and passwords, to all kinds of websites, are for sale on the dark web. Some, like bank account passwords, are obviously valuable. But hackers can extract money from this information in all kinds of creative ways.

  • 02/22/2018 11:26:03

    Banco do Brasil seeks higher core capital ratio, shares rise

    Shares in Banco do Brasil rose on Thursday after the state-controlled bank reported a surge in quarterly earnings, and said it would seek a core capital ratio of at least 11 percent in 2022, with a target of 12 percent. Chief Executive Officer Paulo Caffarelli said at a post-earnings news conference that the new target would not depend on asset sales, indicating higher profitability expectations.

  • 02/22/2018 03:02:44

    Barclays takes £127m hit from Carillion collapse

    The bank reveals how much the collapse of the outsourcing giant cost it, but its profits still rose.

  • 02/21/2018 22:16:00

    Fed's Quarles says low U.S. inflation readings are not a 'great concern'

    Recent low inflation readings are not a "great concern," and the U.S. central bank should continue to raise interest rates gradually, said Randall Quarles, the new Federal Reserve vice chairman for supervision, on Thursday. In a speech in Tokyo, Quarles said the economy "is performing very well" with a strong labor market and "likely only temporary softness in inflation." Quarles noted that headline personal consumption expenditure index rose at a 1.7% annual rate in December, just below the Fed's 2% target. "Suffice to say, a deviation from our target by a few tenths of 1 percentage point, especially one I expect to fade, does not cause me great concern," Quarles said. A Trump appointee, Quarles was optimistic about the impact of the Republican tax cuts. He said the investment drought that has afflicted the U.S. economy over the past five years "may finally be breaking." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/21/2018 20:25:00

    Rotomac scam: Allahabad Bank's Rs 5.16-bn exposure classified as NPA

    Allahabad Bank said in a filing that the accounts of Rotomac group classified as non-performing assets according to IRAC norms of RBI and the required provision has been made

  • 02/21/2018 14:56:54

    BRIEF-M&T Bank Authorizes Additional Stock Repurchase Program Of Up To $745 Mln

    M&T Bank Corp(MTB): * M&T BANK CORPORATION ANNOUNCES FIRST QUARTER COMMON STOCK DIVIDEND AND ADDITIONAL COMMON STOCK REPURCHASE PROGRAM. * M&T BANK(MTB) - M&T'S BOARD OF DIRECTORS AUTHORIZED ADDITIONAL STOCK REPURCHASE PROGRAM TO REPURCHASE UP TO $745 MILLION OF SHARES OF CO Source text for Eikon: Further company coverage:

  • 02/21/2018 13:39:18

    BRIEF-U.S. Bankruptcy Court Confirms TK Holdings' Chapter 11 Plan

    Takata Corp: * U.S. BANKRUPTCY COURT CONFIRMS TK HOLDINGS CHAPTER 11 PLAN OF REORGANIZATION. * COURT'S RULING PAVES WAY FOR TAKATA TO FINALIZE SALE TO KSS AND FOR TK HOLDINGS INC TO EMERGE FROM CHAPTER 11. * EXPECTS TO CONTINUE TO MEET DEMAND FOR AIRBAG INFLATOR REPLACEMENTS WITHOUT INTERRUPTION.

  • 02/21/2018 13:27:03

    Exclusive: India's PNB adopts strict SWIFT controls after mega fraud case

    MUMBAI (Reuters) - India's state-run Punjab National Bank has stepped up its controls on the use of global payments network SWIFT following an alleged $1.77 billion fraud, according to memos issued this month and seen by Reuters.

  • 02/21/2018 12:30:27

    Regional bank ETF on track for record close in wake of Fed minutes

    Exchange-traded funds that track the banking sector surged on Wednesday, after minutes from the Federal Reserve's most recent meeting pointed to higher odds for more rate hikes going forward. The SPDR S&P Regional Banking ETF added 1.8% and was on track for a record close. Separately, the SPDR S&P Bank ETF jumped 1.8% and was on track for its highest close since late January, which itself represented its best close since 2007, before the worst of the financial crisis. The fund is up 7.9% thus far this year, easily outperforming the 2.7% rise of the S&P 500, while the regional bank fund has gained 8.3% in 2018. The Fed's minutes showed that officials saw a stronger economy than at the end of last year, and that strength "increased the likelihood that a gradual upward trajectory of the federal funds rate would be appropriate." Bank stocks tend to do well in rising-rate environments, given the impact it has on their net interest margins, or the difference between the interest they earn on the loans they make and the interest they pay out. Low margins can lead to lower earnings. Among specific stocks, Bank of America rose 1.2% while Citigroup Inc. added 2.4%. On the regional side, Zions Bancorp was up 2.7% and Regions Financial Corp. was up 2.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/21/2018 12:15:22

    Dow jumps 240 points after Fed minutes, with stocks drifting near session highs

    The Dow Jones Industrial Average Wednesday afternoon was trading near its highs of the session after the market digested minutes from the Federal Reserve's most recent policy gathering. The Dow Jones Industrial Average jumped 261 points, or 1.1%, to 25,242, the S&P 500 index climbed 1.1% at 2,746, while the technology-laden Nasdaq Composite Index , a proxy for risk appetite on Wall Street, climbed 1.4%. The minutes from the Fed's January convention appeared to suggest that the central bank would be likely to move gradually to normalize interest-rate policy from ultralow levels in order to avoid upending the broader market. Minutes from the Jan. 30-31 Federal Open Market Committee meeting showed that officials saw a stronger economy than at the end of 2017 and that more rate hikes were in the offing. The strengthening "increased the likelihood that a gradual upward trajectory of the federal funds rate would be appropriate." To convey this message, officials altered their statement to point to "further gradual increases," according to the minutes. However, the Fed minutes don't incorporate recent signs of rapidly rising inflation, which could make the Fed more inclined to hike rates faster than the three that Wall Street is forecasting, some market participants speculated. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/21/2018 11:01:41

    Americans prefer bank branches over mobile apps for opening new accounts

    Mobile banking apps keep getting better, but 60 percent of Americans would still rather open a new checking account in person at a bank branch than on a phone, tablet or desktop computer, according to a new survey. Set for release on Wednesday by consulting firm Novantas, the survey also found that half of U.S. customers feel that online-only banks are "less legitimate" than those with branches.

  • 02/21/2018 09:15:45

    British bank RBS hires "digital human" Cora on probation

    A life-like avatar called Cora is being put through her paces by Royal Bank of Scotland, helping customers with basic queries and giving its digital banking drive a more human face.

  • 02/21/2018 09:12:49

    Pound briefly tops $1.40 as Bank of England officials see pickup in U.K. wages

    The pound briefly rose above $1.40 Wednesday afternoon in London as Bank of England policy makers said salaries for Britons appear to be strengthening, a view they outlined in this month's quarterly inflation report. "A pick up in wages is starting to take root," Andrew Haldane, the central bank's chief economist, told a Treasury committee meeting. Wage pressures were weak early in 2017, he said, and "arithmetically, given what we've seen over the past few months, it's very likely average weekly earnings growth will nudge up to have a '3' in front of it, which is our forecast for Q1." Bank of England Governor Mark Carney said there's been steady firming in private-sector earnings excluding bonuses. "As we get towards full unemployment ... we are seeing a variety of indicators that are consistent with the firming of wage pressures," said Carney. The pound hit $1.4010 as the policy makers spoke, but has since fallen back to $1.3975. Data released Wednesday showed wage growth grew 2.5% in the three months to December. Earlier Wednesday, sterling was the worst performer among major U.S. dollar rivals, driving to a low of $1.3905 after an unexpected rise in the U.K. unemployment rate, to 4.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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