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Banking News

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.

UK banks in Europe should seek post-Brexit deposit guarantees: watchdog

Paris - Europe's banking regulator on Friday urged European branches of British banks to ensure that clients' funds will remain covered by deposit guarantee schemes in case of a no-deal Brexit.

Ex-Goldman banker to finish Malaysia legal process before US extradition

Kuala Lumpur - A former Goldman Sachs banker accused of involvement in the multi-billion-dollar 1MDB scandal will only be extradited to the United States after legal proceedings against him in Malaysia are completed, a minister said.

French cash van driver who made off with $3.2 mln haul charged: prosecutors

Bobigny - The driver of a French cash delivery van who made off with about three million euros ($3.2 million) was charged and remanded in custody on Saturday, prosecutors said.

Humbled Goldman Sachs still faces questions on 1MDB

New York - Goldman Sachs's decision to potentially cut bonuses for top executives over the 1MDB scandal reflects an acknowledgement at shareholder and public outrage over the debacle.

Deutsche Bank insists best to come after first profit in years

Frankfurt Am Main - Germany's biggest lender Deutsche Bank reported Friday a profit for the first time in four years, with executives looking to convince investors and media a phase of "controlled growth" has begun.

US hands bank accounts to Venezuela's Guaido

Washington - The United States said Tuesday that it has handed control of Venezuela's bank accounts in the United States to Juan Guaido, the opposition leader whom Washington has recognized as interim president.

Manila ex-banker gets jail, $109 mn fine over Bangladesh cyberheist

Manila - A Philippine ex-banker was handed a lengthy jail term and $109 million fine Thursday in the first conviction over one of the biggest ever cyberheists which saw $81 million stolen from Bangladesh's central bank.

Ex-Goldman banker accused over 1MDB loses bail bid

Kuala Lumpur - An ex-Goldman Sachs banker facing charges in the US and Malaysia over a massive financial scandal Monday had his bid to be freed on bail rejected by a Kuala Lumpur court.

Romania adopts 'greed tax' despite investor concerns

Bucharest - Romania's left-wing government on Friday issued a controversial emergency ordinance imposing new taxes on banks and energy companies, despite an outcry from investors.

Goldman says former Malaysia govt lied, after charges filed

Kuala Lumpur - Goldman Sachs on Tuesday accused the former Malaysian government and state fund 1MDB of lying to the bank, after Kuala Lumpur charged the Wall Street titan over a massive financial scandal.

Malaysia charges Goldman Sachs as pressure mounts over 1MDB scandal

Kuala Lumpur - Malaysia filed criminal charges Monday against Goldman Sachs and two of its former employees over the alleged theft of billions of dollars, heaping fresh pressure on the Wall Street titan over the 1MDB scandal.

Shock waves of #MeToo reach the City of London

London - A series of very public sackings, suspensions and departures suggests that Britain's finance world is waking up to the toxic implications of sexual harassment and bullying in the workplace.

Germany, France 'in fresh push for EU financial transaction tax'

Frankfurt Am Main - Germany and France will on Monday seek to revive the long-delayed EU financial transaction tax by proposing that member states be allowed to use the revenues to reduce their EU budget contributions, a German newspaper reported.

German police raid Deutsche Bank in 'Panama Papers' graft probe

Frankfurt Am Main - German prosecutors raided several Deutsche Bank offices in the Frankfurt area Thursday over suspicions of money laundering based on revelations from the 2016 "Panama Papers" data leak.

Ex-IMF chief Rato in dock again in major Bankia trial

Madrid - A mega-trial harking back to the dark years of Spain's economic crisis kicks off Monday over the alleged fraudulent 2011 listing of financial giant Bankia, with former IMF leader Rodrigo Rato in the dock.

Danske Bank whistleblower says he raised alarm four times

Copenhagen - A whistleblower who uncovered a massive alleged money laundering scheme at Danske Bank's Estonian branch told a Danish parliamentary commission Monday that he had notified his superiors four times about suspicious transactions but no action was ever ta...

Ex-Goldman Sachs CEO met with key 1MDB figure: FT

New York - Former Goldman Sachs CEO Lloyd Blankfein is the senior executive mentioned in US court papers as having met a man at the center of the 1MDB corruption scandal in Malaysia, the Financial Times reported Thursday.

Mexican stocks plunge over move to slash bank fees

Mexico - Mexico's main stock index plunged nearly six percent Thursday after President-elect Andres Manuel Lopez Obrador's party introduced legislation to dramatically slash the fees banks can charge clients.Dragged down by banking stocks, the BMV index slid 6....

Spanish PM defies Supreme Court in tax row

Madrid - Spain's prime minister defied the Supreme Court in a rare move on Wednesday, stating that banks would now have to pay a mortgage tax instead of customers in opposition to what the highest court had ruled.

US to exempt eight countries from new Iran oil sanctions: Pompeo

Washington - The United States will allow eight countries to continue importing Iranian oil but only at much lower levels after the reimposition of sanctions on Monday, Secretary of State Mike Pompeo said Friday.

Malaysian in 1MDB scandal denies wrongdoing after US charges

Kuala Lumpur - A Malaysian financier at the centre of a corruption scandal surrounding state fund 1MDB maintained his innocence Friday after the US unveiled criminal charges against him and two ex-Goldman Sachs bankers.

US charges ex-Goldman Sachs bankers in Malaysia graft scandal

New York - US officials have unveiled criminal charges against two former Goldman Sachs bankers over the scandal-plagued Malaysian sovereign wealth fund 1MDB, raising fresh questions about corporate culture at the prestigious investment bank.

US unveils indictments in Malaysia bribery scandal

New York - US officials unveiled criminal indictments Thursday against an intermediary to scandal-plagued Malaysian sovereign wealth fund 1MDB and a former Goldman Sachs banker involved in an elaborate alleged bribery scheme.

Restructuring fails to halt revenue slide at Deutsche Bank

Frankfurt Am Main - Germany's biggest lender Deutsche Bank reported tumbling profits and ebbing revenues in the third quarter Wednesday, failing to meet analyst forecasts as its latest restructuring weighs on performance.
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The Credit Lyonnais (now LCL) bank headquarters in Paris France
The Credit Lyonnais (now LCL) bank headquarters in Paris France
Wikicommons
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.
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Bank of America ATM
Bank of America
Brian Katt
London s financial district  taken from a helicopter trip.
London's financial district, taken from a helicopter trip.
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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.
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GIANT: Credit Suisse headquarters at Paradeplatz in Zurich  Switzerland.
GIANT: Credit Suisse headquarters at Paradeplatz in Zurich, Switzerland.
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The Euro sign outside the European Central Bank in Frankfurt, Germany
A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
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UBS logo
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An automated teller machine (ATM).
An automated teller machine (ATM).
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