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Bank News

'Disorderly' Brexit could harm US economy: Fed's Powell

Washington - A "disorderly" European Union exit by Britain could have a negative knock-on effect on the American economy, the chairman of the US Federal Reserve warned Tuesday.

Trump says Fed 'out of control' but won't fire Powell

Washington - President Donald Trump renewed his attacks on the US central bank on Thursday, saying it was "out of control" in raising interest rates but saying he had no plans to dismiss Federal Reserve Chairman Jerome Powell.

London, New York property of Indian celebrity jeweller seized

New Delhi - Indian authorities Monday said they have seized assets of fugitive billionaire jeweller Nirav Modi worth some $87 million, piling pressure on one of the main suspects in a $1.8-billion fraud at a major state-run bank.

US Fed raises benchmark interest rate amid strong economy

Washington - With the US economy still strong, the Federal Reserve raised the benchmark interest rate on Wednesday for the third time this year but showed no indication it would be more aggressive in efforts to head off inflation.

Argentina on strike as central bank chief resigns amid IMF talks

Buenos Aires - Argentina was paralyzed by a general strike on Tuesday while the central bank chief resigned amid talks with the International Monetary Fund on a revised crisis loan package.

Argentina's central bank chief resigns

Buenos Aires - The president of Argentina's central bank, Luis Caputo, abruptly resigned on Tuesday after just a few months in the position, amid a volatile economic crisis.

US Fed warns trade dispute escalation poses 'consequential' economic risk

Washington - An escalation of ongoing US trade disputes poses a "consequential downside risk" to the economy, which will make the job of the central bank more challenging, the US Federal Reserve warned Wednesday.

Bitter pills: Erdogan's possible remedies for Turkey crisis

Istanbul - The crash in the Turkish lira sparked by US sanctions has left President Recep Tayyip Erdogan facing the biggest economic challenge of his one-and-a-half decades in power.

US slaps sanctions on Russian bank over NKorea dealings

Washington - The United States slapped sanctions Friday on a Russian bank for helping North Korea evade punitive measures from the United Nations designed to curb Pyongyang's nuclear weapons and ballistic missile programs.

US Fed leaves key interest rate unchanged, highlights strong economy

Washington - The US Federal Reserve kept the benchmark lending rate unchanged on Wednesday but stressed the strength of the economy and labor markets, a signal rate increases are ahead.

'Strong' case for further rate hikes: Fed's Powell

Washington - Historically low unemployment and signs of rising inflation mean there is a "strong" case for continued, steady interest rate hikes, US Federal Reserve Chairman Jerome Powell said Wednesday.

US jobs bonanza all but ensures Fed rate hike in June

Washington - The US Federal Reserve this week will raise the key interest rate for the second time in 2018, working to stay one step ahead of inflation.

Malaysia's central bank chief latest to fall as 1MDB probes accelerate

Kuala Lumpur - Malaysia's 1MDB scandal claimed another scalp Wednesday with the resignation of the central bank governor after a controversy linked to the stricken investment fund, as the new government steps up probes into the alleged plundering of state coffers.

US firms upbeat despite trade uncertainties: Fed

Washington - Trade uncertainties continue to cast a shadow on US businesses, but firms remain largely upbeat even amid a labor shortage that has forced more to raise wages, the Federal Reserve survey said Wednesday.

Bank of Canada maintains key lending rate at 1.25%

Ottawa - Canada's central bank on Wednesday maintained its key lending rate at 1.25 percent, as growth slows and the prospect of protectionist US trade policies cast a shadow over the global economy.

US Fed official optimistic on economic outlook

Washington - The outlook for the US economy is upbeat as factors that have been holding down growth, including businesses' reluctance to invest, begin to fade, a US central banker said Monday.

Eurozone backs Spain's De Guindos for ECB top job

Brussels - Eurozone finance ministers backed their Spanish peer Luis De Guindos for the vice-presidency of the European Central Bank on Monday after his only rival pulled out.

Central banker takes stab at bitcoin 'bubble'

Frankfurt Am Main - The head of the Bank of International Settlements, the central bank for central banks, on Tuesday lambasted bitcoin as a speculative bubble and said authorities need to be ready to protect public trust in the financial system.

Report on Banco Popular highlights 'uncertain' valuation

Brussels - The EU's agency for winding down failing banks on Friday made public a controversial report by consultants Deloitte used as a base to rescue Spain's Banco Popular that left experts scratching their heads.

US Fed keeps rates unchanged, says inflation will 'move up'

Washington - The Federal Reserve left the benchmark interest rate unchanged Wednesday after its first policy meeting of 2018, but said it expects inflation to move up this year -- a possible signal of faster rate increases ahead.

US Fed keeps rates unchanged, says inflation will 'move up'

Washington - The Federal Reserve left the benchmark interest rate unchanged Wednesday after its first policy meeting of 2018, but said it expects inflation to move up this year, a possible signal of faster rate increases ahead.

Canada central bank keeps key lending rate at 1 pct

Ottawa - Canada's central bank on Wednesday maintained its key lending rate at one percent, saying it expects an uptick in the economy to moderate as the year comes to an end.

Vatican bank's deputy axed in papal reform mystery

Vatican City - The deputy director of the Vatican bank has been sacked, throwing yet another question mark over Pope Francis's reform efforts for the Holy See's finances.

China raps US sanctioning of bank over North Korea ties

Bejing - Beijing on Friday hit back at a US decision to exclude a Chinese bank from the American financial system over its alleged ties to North Korea, slamming the move as "long-armed jurisdiction".

Jerome Powell, Trump's multi-millionaire pick for Fed chief

Washington - Jerome "Jay" Powell, the Republican former investment banker tapped by President Donald Trump to replace Janet Yellen at the helm of the US Federal Reserve, could be the richest person to ever fill the role.

Trump taps Jerome Powell to lead US Federal Reserve

Washington - President Donald Trump on Thursday nominated Federal Reserve Governor Jerome "Jay" Powell to lead the US central bank, saying the former investment banker has the wisdom and intelligence to guide the world's largest economy.

Bank of England seen hiking rate for first time in decade

London - The Bank of England, battling Brexit-fuelled inflation rises, is set Thursday to lift its key interest rate for the first time since 2007, according to analysts.

Bank of England set to hike rate on Brexit effects

London - The Bank of England, on guard against soaring Brexit-fuelled inflation, is on the precipice of lifting its key interest rate Thursday for the first time since 2007, according to analysts.

Radical Russian artist charged over Paris bank blaze

Paris - Russian performance artist Pyotr Pavlensky and his partner were charged on Wednesday with torching the facade of a Paris branch of France's central bank and placed in pre-trial detention, a legal source said.

Defiance in Britain over new £1 coin as deadline looms

London - Britain's old one-pound coin is being phased out completely on Sunday but businesses complain they have been given too little time to switch to the new one and many are planning to defy the deadline.Around 1.
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A man passes the Bank of England in London
A man passes the Bank of England in London
Luke MacGregor / Reuters
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.
Branch of the National State Bank (BancoEstado) in Putaendo  Chile.
Branch of the National State Bank (BancoEstado) in Putaendo, Chile.
AconcaguaNews
The United Bank of India (UBI) is one of the leading banks  offering financial services to poor and ...
The United Bank of India (UBI) is one of the leading banks, offering financial services to poor and tribal people of Tripura, India.
A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
ell brown
Federal Reserve Bank in New York City
Federal Reserve Bank in New York City
Dmadeo
Bank of Greece
Bank of Greece
National Bank of Canada
National Bank of Canada
By Raysonho @ Open Grid Scheduler / Grid Engine (Own work) [CC0], via Wikimedia Commons
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)
Deutsche Bank in Warsaw  Poland
Deutsche Bank in Warsaw, Poland
Deutsche Bank
Bank of Greece
Bank of Greece
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.
Interior of NatWest Castle Street  Liverpool
Interior of NatWest Castle Street, Liverpool
John Bradley
A bank in Baghdad - protected by US troops.
A bank in Baghdad - protected by US troops.
Timmy
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
A branch of Banco Provincia.
A branch of Banco Provincia.
Barcex
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