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Bank News

BoJ slashes annual inflation forecasts

Toukyo - The Bank of Japan on Thursday slashed its annual inflation forecast and once again delayed its timetable for hitting a two percent target as the economy struggles to gain traction despite years of stimulus.

Fed's Yellen: US economy needs only 'gradual' rate hikes

Washington - Federal Reserve Chair Janet Yellen said Wednesday that even as the US economy grows stronger and employment expands, she foresees only "gradual" interest rate increases in the next few years.

Fed's Yellen: US economy needs only 'gradual' rate hikes

Washington - Federal Reserve Chair Janet Yellen on Wednesday said even as the US economy grows stronger and employment expands, she foresees only "gradual" interest rate increases in the few years ahead.

Multinationals hit by vast wave of cyberattacks

Kiev - Several multinational companies said Tuesday they were targeted in a massive wave of cyberattacks which started in Russia and Ukraine before spreading to western Europe.

US Fed to raise rates despite sluggish economic data

Washington - For the second time this year, the US central bank appears poised to raise interest rates despite fresh signs the world's largest economy is not in peak condition.

Germany votes to end cruel fur farming

German lawmakers voted to end cruel fur farming. The new legislation will force the closure of remaining fur farms in the country where captive animals are beaten, electrocuted, and skinned alive for their fur.

Greek bank damaged in bomb attack

Atenas - A bomb attack on Wednesday damaged a branch of the Greek bank Eurobank in the centre of Athens, a police source said.

Dutchman, British wife arrested in tax fraud probe

Den Haag - Dutch and British tax authorities have arrested a Dutch man and his British wife, recovering millions of euros in an ongoing tax evasion probe apparently involving Swiss bank accounts, officials said Wednesday.

Credit Suisse apparent target of massive tax fraud probe

Geneva - Authorities in Europe and Australia announced a sweeping tax evasion probe Friday reportedly targeting Credit Suisse clients and senior employees, as investigators detailed arrests and the seizure of artworks and gold.

US arrests Turkish banker on charges of violating Iran sanctions

Ankara - The US has arrested a senior official at a state-owned Turkish bank on charges of helping Iran violate US sanctions, a move that could fuel tension ahead of Secretary of State Rex Tillerson's visit on Thursday.

Iceland booming but no crash in sight, central banker says

Reykjav - Iceland's economy is booming and may overheat but there will be no repeat of the crash that plunged the country into a major financial crisis in 2008, central bank governor Mar Gudmundsson told AFP in an interview.

Two ex-Vatican bank chiefs get suspended prison terms

Rome - Two former executives at the Vatican bank were handed four-month suspended prison sentences on Thursday over their role in dubious transactions dating from 2010.

Venezuela's Maduro names new central bank chief

Caracas - Venezuelan President Nicolas Maduro on Sunday named a lawmaker as the country's new central bank chief, after reportedly pushing out the former head as the country struggles through a deep economic crisis.

Brazil likely to speed up rate cuts to fight crisis

Bras - Analysts expect Brazil's central bank to speed up the pace of interest rate cuts on Wednesday as Latin America's biggest economy struggles to escape its worst recession in a century.

JPMorgan settles FCPA charges by paying $264 million

After a three-years probe for alleged corruption, fraud and violation of the Foreign Corrupt Practices Act (FCPA) charges, JPMorgan Chase & Co. agreed to pay a $264 million total settlement.

Mexico's central bank chief resigns as peso plunges

Mexico - Mexico's central bank chief Agustin Carstens resigned Thursday, officials said, as the peso continued a decline that has accelerated since Donald Trump's victory in last month's US presidential election.

Brazil central bank cuts interest rate again

Bras - Brazil's central bank cut its key interest rate Wednesday for the second month running, as data showed that the recession hitting Latin America's largest economy continued into the third quarter.

National Bank of Canada to slash 600 jobs in shift to digital

The National Bank of Canada has decided to cut 600 jobs and take a $175 million restructuring charge. This comes amid slow economic growth and a changing environment for Canadian banks.

Hostage taker at Moscow bank turns himself in

Moscow - A man who took four people hostage at a bank in central Moscow late Wednesday has surrendered to police, local authorities said.

Swiss central bank bracing for Brexit 'turbulence'

Geneva - The head of Switzerland's central bank warned Thursday that the Swiss economy could face turbulence if Britain opts to exit the EU in next week's referendum, vowing to "take measures if required".

Out of order: India bank says third of ATMs don't work

Mumbai - A third of India's cash machines don't work, the central bank said, posing a challenge for the government as it strives to provide banking services to millions of poor citizens living in rural areas.

SWIFT reports new hacker attack against bank

Washington - Hackers have attacked a bank by gaining access to the world's largest financial messaging system, used to move billions of dollars a day, in a second raid months after a multi-million dollar heist at the Bangladesh central bank, US media reported Thurs...

ECB chief Draghi hints interest rates could be cut still further

Frankfurt - European Central Bank chief Mario Draghi hinted Thursday that eurozone interest rates, already at new all-time lows, would fall even lower in the future if area-wide inflation does not pick up soon.

Six officials of China's ICBC bank held in Spain over 'money laundering'

Madrid - Six officials of Chinese megabank ICBC have been placed in detention by Spanish authorities on suspicion of laundering tens of millions of euros, judicial sources said on Saturday.

Russia issues banknote celebrating Crimea annexation

Moscow - Russia's Central Bank on Wednesday issued a banknote depicting famous landmarks of Crimea, commemorating last year's annexation of the peninsula that was slammed by the West and led to sanctions against Moscow.

Yellen: Rate hike marks 'end of an extraordinary 7-year period'

Washington - Federal Reserve Chair Janet Yellen said Wednesday the Fed's first rate increase since 2006 marks the "end of an extraordinary seven-year period" of easy-money policy begun in the Great Recession.

Fed raises interest rate for first time in nearly a decade

Washington - The Federal Reserve announced Wednesday its first interest rate increase in more than nine years in a landmark move signaling the US has finally moved beyond the 2008 crisis.

Markets gird ahead of Fed's expected rate increase

Washington - Global markets surged and the US dollar edged higher early Wednesday ahead of what is expected to be the Federal Reserve's first interest rate increase since 2006.

Vatican told to deliver 'real results' on scandal-hit bank

Vatican City - A European body that combats money laundering and terrorist financing on Tuesday told the Vatican to start prosecuting people found to have used its scandal-hit bank and asset management body for criminal ends.

Argentine central bank chief resigns

Buenos Aires - The head of Argentina's central bank resigned Wednesday, four years before the end of his term, under strong pressure from president-elect Mauricio Macri.
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Bank Image

Federal Reserve Bank in New York City
Federal Reserve Bank in New York City
Dmadeo
Those running Bank of Montreal got a free security check from an unexpected source.
Those running Bank of Montreal got a free security check from an unexpected source.
Eastmain via Wikimedia
Visiting past: Indian currency in 1918. The photo shows the Indian currency of 1918 when India was r...
Visiting past: Indian currency in 1918. The photo shows the Indian currency of 1918 when India was ruled by the British. A host of past events were exhibited in Agartala - the capital of Tripura of India few months ago. The exhibition was arranged by the Reserve Bank of India.
Branch of the National State Bank (BancoEstado) in Putaendo  Chile.
Branch of the National State Bank (BancoEstado) in Putaendo, Chile.
AconcaguaNews
Untitled
screen capture from news video
A branch of Banco Provincia.
A branch of Banco Provincia.
Barcex
A bank in Baghdad - protected by US troops.
A bank in Baghdad - protected by US troops.
Timmy
National Bank of Canada
National Bank of Canada
By Raysonho @ Open Grid Scheduler / Grid Engine (Own work) [CC0], via Wikimedia Commons
The Chief Minister of Tripura  Mr Manik Sarkar (left) is attending a program along with the Reserve ...
The Chief Minister of Tripura, Mr Manik Sarkar (left) is attending a program along with the Reserve Bank of India (RBI), Dr D Subbarao (right). Tripura is a tiny State of India located in North Eastern part of the country.
A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
ell brown
Bank of Greece
Bank of Greece
Inside of Caixa Bank in São Paulo where there s art gallery open to public on Sundays.
Inside of Caixa Bank in São Paulo where there's art gallery open to public on Sundays.
Eurobank
Eurobank
wikimedia commons
Bank of Greece
Bank of Greece
Book cover of Michael Likosky s  Obama s Bank - Financing a Durable New Deal  Cambridge University P...
Book cover of Michael Likosky's "Obama's Bank - Financing a Durable New Deal" Cambridge University Press (2010)
The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
This bank in a Western town is closed. It is just one closed business in an almost empty downtown. T...
This bank in a Western town is closed. It is just one closed business in an almost empty downtown. The story is different in every community but the result is often the same --- a struggling community with many of the young people moving away to find work and the remaining older residents staying as they are unable to find buyers for their property.