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Banking News

Smooth-talking Lagarde faces first ECB grilling

Frankfurt Am Main - New European Central Bank president Christine Lagarde makes her first monetary policy announcements Thursday, with observers hunting for clues to her leadership style and the bank's response to stuttering eurozone growth.

Financial markets embrace brave new world of AI

London - Artificial Intelligence has spread rapidly across markets in recent years as traders constantly strive to gain the upper hand, while regulators have given a guarded welcome to the cutting-edge technology.

2020 Fintech predictions from Marqeta Special

Oakland, CA-based fintech startup Marqeta, has made some fintech predictions for 2020, made available to Digital Journal readers. Fintech extends to the new applications, processes, products, or business models in the financial services industry.

Australia's Westpac faces huge fine for money-laundering breaches

Sydney - Australian banking giant Westpac faces a massive fine after being accused by regulators Wednesday of "serious and systemic" breaches of money-laundering laws involving more than US$7 billion.

Merkel, Macron praise Draghi's 'European dream' as ECB chief bows out

Frankfurt Am Main - French President Emmanuel Macron and German Chancellor Angela Merkel on Monday lauded Mario Draghi for defending "the European dream" in the face of opposition as he handed over a divided ECB to Christine Lagarde.

Departing Draghi looks to bind wounds at ECB

Frankfurt Am Main - At his final press conference Thursday, departing European Central Bank president Mario Draghi will downplay differences among policymakers over September's big-bang stimulus package, hoping to limit their impact on the institution's effectiveness, ana...

Key moments in Draghi's eventful ECB tenure

Frankfurt Am Main - Mario Draghi hands over the keys of the European Central Bank to Christine Lagarde on October 31, leaving the former IMF chief a eurozone economy struggling to stay in gear.

Matthieu Pigasse to quit as CEO of Lazard France

Paris - French investment banker Matthieu Pigasse, a major shareholder in France's Le Monde newspaper, is to resign his executive positions at Lazard, the US investment bank announced Sunday.

Malaysia held talks with Goldman over 1MDB charges: report

Kuala Lumpur - Malaysia held talks with Goldman Sachs about dropping charges against three units of the Wall Street bank that prosecutors brought over the multi-billion-dollar 1MDB scandal, a report said Thursday.

Ex-Ukraine central bank chief's home burnt down in attack

Kiev - Ukrainian police on Tuesday investigated a fire that destroyed the house of a reformist former central bank chief, who along with the bank called it an act of "terror".

Austria's love of cash in poll campaign spotlight

Vienna - It may sound like a strange thing to enshrine in a country's constitution: the right to pay cash.But a debate on whether to do just that has entered Austria's election campaign, shining a light on the country's love of cold, hard currency.

Malaysia files charges against current, ex-Goldman execs over 1MDB

Kuala Lumpur - Malaysia filed criminal charges Friday against 17 current and former directors of three Goldman Sachs subsidiaries, piling further pressure on the Wall Street titan over the multi-billion dollar 1MDB scandal.

Facebook needs 'very high standard' for Libra coin: US Treasury

Washington - Facebook must meet "a very high standard" before it moves ahead with its planned digital currency Libra, US Treasury Secretary Steven Mnuchin said Monday.

US banks must consider climate risk: Fed's Powell

Washington - Risk from severe weather events is not usually linked to banks but increasingly must be included in their planning, the US central bank chief said Wednesday.

Dismissed Deutsche Bank staff head out as overhaul bites

London - From Asia to the United States, disconsolate staff at Deutsche Bank dealt Monday with news of massive layoffs with some already heading to the exits to drown their sorrows.The German giant's share price fell to a low of 6.66 euros ($7.

Banking: Customers prefer a machine to a human teller

New data shows that more dramatic change is to be expected in banking and financial services. Marqeta, a card issuing platform, has found that customers would rather interact with a machine than with a human teller.

Malaysian court delays Goldman case on 1MDB fund theft

Kuala Lumpur - The Malaysian case against Goldman Sachs on charges the US investment bank stole huge sums from the country's 1MDB state fund was postponed Monday until September after defence lawyers argued there was a problem with paperwork.

In his remit: African fintech entrepreneur helps migrants move money

Paris - The money transfer business is personal for Ismail Ahmed. It was cash wired by his family that allowed him to make the final leg of his journey from escaping fighting in his native Somaliland to London in 1988 to take up a university scholarship.

ECB under pressure to ease growth, inflation fears

Vilnius - European Central Bank chief Mario Draghi is expected to outline plans on Thursday to offer fresh assistance to banks and hint at further options to counteract rising worries about growth and inflation in the eurozone.

ECB debates switching course before change of helmsman

Frankfurt Am Main - Politics will have an unusually large role in picking a new chief for the European Central Bank this year, as the switchover coincides with European Parliament elections and the choice of a new Commission.

Unskilled staff threaten banks' ability to digitally transform

This technological disruption has a large effect on how banks operate, and it seems unlikely that the pace of change will decelerate anytime soon.

Ex-Goldman banker pleads not guilty on 1MDB charges in US court

New York - A former Goldman Sachs banker pleaded not guilty Monday in New York to bribery and other charges in the multi-billion-dollar 1MDB scandal after being extradited from Malaysia.

Trump sues banks in bid to block Congress subpoenas

New York - US President Donald Trump, along with his family and businesses, on Monday sued Deutsche Bank and Capital One in an attempt to stop them from complying with Congressional subpoenas issued as part of a probe into foreign political influence.

Brazil ad promoting diversity pulled after Bolsonaro request

Rio De Janeiro - A Brazilian bank commercial highlighting the country's diversity was pulled following a request by far-right President Jair Bolsonaro, the bank confirmed Friday.

ECB to hold course as threats to growth linger

Frankfurt Am Main - The European Central Bank will hint Wednesday at moves to support the eurozone economy but stop short of new action, analysts expect, as the Frankfurt institution eyes lingering political risks.

US sanctions Russia-based bank over Venezuela dealings

Washington - The US Treasury slapped sanctions Monday on a Russia-based bank partly owned by Venezuela for its support for the government of embattled President Nicolas Maduro and the sanctioned state oil company PDVSA.

U.S. cannabis investors need to keep an eye on banking access

U.S. Federal regulations currently prevent banks from building relationships with cannabis businesses in legalized states.

Poor South African savers ruined by bank collapse

Thohoyandou - "As treasurer of my stokvel, I had to go to the bank almost every day to find out what is happening," said Annah Muambadzi, 65, of the panic that gripped her savings club.

Latvia central banker gets green light to travel abroad

Riga - Latvian prosecutors on Tuesday said they had temporarily lifted a travel ban on the eurozone country's central bank chief who is facing bribery charges, allowing him to attend a board meeting of the European Central Bank.

Sirleaf's son, others charged over Liberia bank scandal

Monrovia - Five once senior figures at the Liberian Central Bank, including the son of long-serving former president Ellen Johnson Sirleaf, were charged Monday with criminal conspiracy and "economic sabotage" following a probe into a banknote printing scandal.
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The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
GIANT: Credit Suisse headquarters at Paradeplatz in Zurich  Switzerland.
GIANT: Credit Suisse headquarters at Paradeplatz in Zurich, Switzerland.
Roland zh / Wikimedia Commons
UBS logo
UBS logo
Fabrice Coffrini
London s financial district  taken from a helicopter trip.
London's financial district, taken from a helicopter trip.
Bank of America ATM
Bank of America
Brian Katt
The Credit Lyonnais (now LCL) bank headquarters in Paris France
The Credit Lyonnais (now LCL) bank headquarters in Paris France
Wikicommons
An automated teller machine (ATM).
An automated teller machine (ATM).
Digital Journal
A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
ell brown
Members of the organization have called on their supporters to boycott HSBC and see it as a test of ...
Members of the organization have called on their supporters to boycott HSBC and see it as a test of their faith.
YouTube
Five models and three different generations of security token devices for online banking. The newer ...
Five models and three different generations of security token devices for online banking. The newer models are in the foreground.
M0tty

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