Today: September 15, 2024
Today: September 15, 2024

Banking

Business|Economy|Finance

BNP Paribas' retail weakness takes shine off equity trading boost

France's BNP Paribas exceeded expectations with a big jump in earnings on Wednesday thanks to a boost in equities trading, although a sharp drop in net interest

BNP Paribas' retail weakness takes shine off equity trading boost
Business|Europe|Finance|Technology

UniCredit buys digital bank and cloud IT platform in Aion-Vodeno deal

UniCredit on Wednesday said it was investing 370 million euros ($401 million) to acquire Belgium's digital bank Aion and Vodeno, a provider of cloud-based banking services.

UniCredit buys digital bank and cloud IT platform in Aion-Vodeno deal
Business|Economy|Europe|Finance

Deutsche Bank's profit streak ends with big lawsuit provision

Deutsche Bank posted its first loss in four years in the second quarter after setting aside 1.3 billion euros ($1.41 billion) as a provision for

Deutsche Bank's profit streak ends with big lawsuit provision
Business|Economy|Finance

Deutsche Bank says commercial real estate remains under pressure

Deutsche Bank on Wednesday tempered exepectations for a recovery in the commercial real estate market and said it forecasts further pressure in the

Deutsche Bank says commercial real estate remains under pressure
Business|Finance

Santander Brasil's net profit up 44% in Q2, beating forecasts

Santander Brasil's second-quarter recurring net profit jumped 44.3% on a yearly basis, the bank reported on Wednesday, topping market forecasts helped by higher lending and fees.

Santander Brasil's net profit up 44% in Q2, beating forecasts
Economy|Finance

UK data watchdog blocks naming of banks which lost COVID loan guarantees

Britain's information watchdog has rejected a Reuters appeal to identify lenders who have lost or surrendered state guarantees on millions of

UK data watchdog blocks naming of banks which lost COVID loan guarantees
Australia|Economy|Finance

Australia's ANZ fires staff amid multiple dealing room investigation

Australian bank ANZ said it has fired or suspended traders from its markets business over allegations of inappropriate behaviour and warned an

Australia's ANZ fires staff amid multiple dealing room investigation
Economy|Finance

India cenbank may prefer mild rupee weakness to correct overvaluation, BofA says

The Reserve Bank of India may allow the rupee to weaken slightly to unwind the slightly elevated real effective exchange rate and keep the South Asian currency "competitive," BofA

India cenbank may prefer mild rupee weakness to correct overvaluation, BofA says
Business|Economy|Finance

NYCB posts bigger loss than expected on exposure to office real estate

New York Community Bancorp reported second-quarter loss that was worse than Wall Street's expectations on Thursday, as it set aside more money to cover

NYCB posts bigger loss than expected on exposure to office real estate
Business|Economy|Finance

BofA payments app for businesses handled record $500 billion by mid-year

Bank of America’s corporate clients approved a record $500 billion in payments through its CashPro app by mid-year, up almost 40% versus the same period in 2023,

BofA payments app for businesses handled record $500 billion by mid-year
Business|Economy|Finance

Metro Bank sells residential mortgage portfolio to NatWest for $3 billion

Britain's Metro Bank is selling its portfolio of prime residential mortgages to NatWest Group for up to 2.4 billion pounds ($3.1 billion) in cash, it said on Friday.

Metro Bank sells residential mortgage portfolio to NatWest for $3 billion
Business|Finance|Technology

JPMorgan launches in-house chatbot as AI-based research analyst, FT reports

JPMorgan Chase has begun rolling out a generative artificial intelligence (AI) product, telling employees that its own version of OpenAI's ChatGPT can do the work of a research analyst,

JPMorgan launches in-house chatbot as AI-based research analyst, FT reports
Business|Crime|Economy|Europe

Seven banks share data with UK law enforcement in 'dirty money' crackdown

Barclays, NatWest and Lloyds are among seven banks to share customer data with the National Crime Agency (NCA) in the largest project of its kind

Seven banks share data with UK law enforcement in 'dirty money' crackdown
Economy|Europe|Finance

ECB's cyber security test shows 'room for improvement' for banks

Euro zone banks have "room for improvement" in their cyber security, starting with how they would keep their business running after a hack, the European Central Bank said on

ECB's cyber security test shows 'room for improvement' for banks
Business|Economy|Finance

Regional lender WesBanco to buy smaller rival Premier Financial in $959 million deal

WesBanco has agreed to buy smaller rival Premier Financial in an all-stock deal valued at $959 million, the lenders said on Friday, offering another sign of growing consolidation in the

Regional lender WesBanco to buy smaller rival Premier Financial in $959 million deal
Business|Economy|Finance|Technology

Scotiabank resolves technical issue impacting thousands of its customers

Bank of Nova Scotia said on Friday that it has resolved a technical issue that impacted thousands of its clients in Canada, with several complaining about missing paychecks and

Scotiabank resolves technical issue impacting thousands of its customers
Economy|News|World

IMF warns Lebanon that the country is still facing enormous challenges, years after a meltdown began

The International Monetary Fund has warned that Lebanon is still facing enormous economic challenges, four years after the country's historic meltdown began

IMF warns Lebanon that the country is still facing enormous challenges, years after a meltdown began
Business|Technology

Chase UK will soon bar its customers from making crypto transactions due to an uptick in scams

Chase UK, JP Morgan’s British digital bank, says it will bar customers from making cryptocurrency transactions starting next month — citing an uptick in scams and fraud

Chase UK will soon bar its customers from making crypto transactions due to an uptick in scams
Economy

What could break under higher-for-longer interest rates?

As the final stretch of the year approaches, there's relief in markets that the sharpest global monetary tightening cycle in decades is finally nearing an end.

What could break under higher-for-longer interest rates?
Business

Canada's RBC injects capital into City National to bolster US subsidiary's liquidity

Royal Bank of Canada (RBC) on Friday said it had injected capital into City National to strengthen the Los Angeles-based subsidiary's liquidity position and pay down higher-cost borrowing.

Canada's RBC injects capital into City National to bolster US subsidiary's liquidity
Business

Citigroup has 'no room for bystanders' in reorganization, CEO says

Citigroup CEO Jane Fraser said on Friday that top employees were on board with the company's sweeping reorganization, and that there was "no room for bystanders

Citigroup has 'no room for bystanders' in reorganization, CEO says
Business

Wells Fargo sells $2 billion of private equity investments

Wells Fargo said on Friday it had sold about $2 billion of its private equity investments as the bank aims to sharpen focus on its core businesses.

Wells Fargo sells $2 billion of private equity investments
Business

Credit Suisse, Mozambique reach out-of-court 'tuna bond' settlement

Credit Suisse has reached an 11th-hour out-of-court settlement with Mozambique over the $1.5 billion-plus "tuna bond" scandal, the Swiss bank's new owner UBS said on Sunday, drawing

Credit Suisse, Mozambique reach out-of-court 'tuna bond' settlement
Business

StanChart argues for cutting 'systemic' sanctions busting claims from lawsuit

Standard Chartered sought on Tuesday to persuade a London court to remove from an investor lawsuit allegations that it broke U.S. sanctions against Iran in a "more

StanChart argues for cutting 'systemic' sanctions busting claims from lawsuit
Business

PNC Bank buys $16.6 billion capital commitment portfolio from Signature Bridge Bank

PNC Financial Services' banking unit said on Tuesday that it had bought a portfolio from Signature Bridge Bank representing $16.6 billion in total commitments, including $9 billion of

PNC Bank buys $16.6 billion capital commitment portfolio from Signature Bridge Bank

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