Category: Financial Services

September 28, 2022

The Bank of England took emergency action Wednesday to stabilize U.K. financial markets and head off a crisis in the broader economy after the government spooked investors with a program of unfunded tax cuts, sending the pound tumbling and the […]

September 28, 2022

Card fraud is an ongoing concern for financial institutions, despite the popularity of newer payment methods, the PYMNTS-Featurespace study, released on Sept. 13, highlighted. But emerging payment methods, including P2P vehicles such as Zelle, Venmo, Cash App and others, are […]

September 19, 2022

THE ROLE OF CENTRAL BANKS IN THE FOREX MARKET Central banks are mainly responsible for maintaining inflation in the interest of sustainable economic growth while contributing to the overall stability of the financial system. When central banks deem it necessary […]

September 14, 2022

The Bank of Japan’s ultra-loose monetary policy is under pressure from a swathe of global central banks embarking on a series of rate hikes and balance sheet reduction programs. While many central banks, including the Federal Reserve (Fed) and the […]

August 4, 2022

The Bank of England projected Thursday that the United Kingdom’s economy will enter a recession at the end of the year as it hiked interest rates by the largest amount in more than 27 years, pushing to tame accelerating inflation […]

June 28, 2022

Credit Suisse may “temper” some of its key growth initiatives in wealth management as it focuses efforts on a risk turnaround and bolstering technology, executives said in their first update to investors since a new strategy was set out. A […]

June 28, 2022

Contractionary monetary policy is the process whereby a central bank deploys various tools to lower inflation and the general level of economic activity. Central banks do so through a combination of interest rate hikes, raising the reserve requirements for commercial […]

June 15, 2022

The European Central Bank’s rate-setting council will hold an unscheduled meeting Wednesday “to discuss market conditions,” with borrowing costs for several countries having increased after the bank said it would raise interest rates — bringing back bad memories of the […]

May 20, 2022

Zurich Insurance has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurer became the latest company to announce its exit from the Russian market. A slew of companies — […]

May 18, 2022

The U.S., several global development banks and other groups unveiled a multi-billion dollar plan Wednesday meant to address a worldwide food security crisis exacerbated by Russia’s war in Ukraine. The Treasury Department announced that several global development banks are “working […]

April 30, 2022

HSBC Holdings’ largest shareholder, Chinese insurance giant Ping An, has called for a break-up of the London-based bank, a source familiar with the matter said on Friday. Ping An has set out its plan to split the company to HSBC’s […]

March 11, 2022

Sky News understands that one of Goldman’s private equity funds is among four suitors for a stake in Nucleus that will value the business at about £700m. City sources said on Friday that the other bidders were Centerbridge Partners, GTCR […]

March 7, 2022

The Senate of Virginia in the United States unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services. Delegate Christopher T. Head introduced the bill, House Bill […]

March 4, 2022

Two China-based development banks have paused relations with Russia and Belarus as it continues to wage war against Ukraine, the Financial Times reported Thursday. According to the report, the decision of the Beijing-based Asian Infrastructure Investment Bank to pause investments […]

March 2, 2022

European Union representatives agreed to remove seven Russian banks from the Society for Worldwide Interbank Financial Telecommunication (Swift), the Belgium-based global financial messaging service, Bloomberg reported Tuesday, citing anonymous sources. The banks are VTB Bank, Bank Otkritie, Novikombank, Sovcombank, Promsvyazbank, […]

February 23, 2022

Goldman Sachs Group Inc is exploring measures such as seizing vested pay to dissuade top bankers from leaving, Bloomberg News reported on Wednesday, citing people familiar with the matter. The bank is looking at confiscating vested stock – usually reserved […]

February 22, 2022

Shares in Russia’s two largest lenders, Sberbank and VTB, reversed early losses to trade higher on Tuesday after the state-controlled groups escaped British sanctions on Russian banks. British sanctions targeted Bank Rossiya, Black Sea Bank, Genbank, IS Bank and Promsvyazbank […]

January 27, 2022

If you were born after 1980, the monetary tightening that the Fed said this week will begin in March will be unlike any you’ve seen. This is for two reasons, both unsettling for markets. First, when the Fed began raising […]

January 18, 2022

Britain’s payments regulator on Tuesday fined five payments companies including Mastercard a total of 33 million pounds ($45.01 million) for cartel behaviour involving prepaid cards issued to vulnerable people on welfare benefits. Mastercard received the largest fine of 31.56 million […]

January 5, 2022

In the last 3 months, 6 analysts have offered 12-month price targets for Bank of New York Mellon. The company has an average price target of $63.67 with a high of $72.00 and a low of $59.00. Below is a […]