Category: Financial Services

September 25, 2023

Shares in Evergrande (HK:3333) shed more than a fifth of their value on Monday after the embattled Chinese property developer announced that it would be unable to issue new debt. Evergrande ‘s stock slumped by 21.8%, its largest one-day percentage […]

September 11, 2023

The Bank of England’s rapid pace of bond sales is creating a “selling gold at the bottom” moment for investors, according to Christopher Mahon, head of dynamic real return at Columbia Threadneedle. In the aftermath of the 2008 financial crisis, […]

July 25, 2023

Wells Fargo shares popped Tuesday after the bank said it would buy back $30 billion in stock. The company also said its board of directors approved a previously announced dividend increase, to 35 cents per share from the previous 30 […]

July 19, 2023

If you’re looking to plan your next holiday, having the right rewards credit card can really make a difference. It can help your money go further and bring those dreams of sandy beaches and beautiful new places to explore a […]

June 22, 2023

The average long-term U.S. mortgage rate fell for the third time in as many weeks, a welcome boost for homebuyers facing a housing market that’s been held back this year by a tight inventory of homes for sale. Mortgage buyer […]

June 2, 2023

Customers of Chase’s online banking services were seeing double transactions, fees and/or payments in their accounts, with the situation not immediately being resolved as of late morning on Friday. Numerous Chase customers were posting on social media that their rent […]

April 14, 2023

A Federal Reserve official said he was prepared to approve another interest-rate increase because recent banking-system stresses haven’t produced a significant pullback in lending while high inflation remains supported by strong growth. “Monetary policy needs to be tightened further,” Fed […]

March 31, 2023

Europe learned its lessons after the financial crisis and is now in a strong position to weather further stress in its banking system, several economists and policymakers say. A central theme at the Ambrosetti Forum in Italy on Thursday and […]

March 24, 2023

Shares in Deutsche Bank fell sharply Friday, dragging down major European banks and leading German Chancellor Olaf Scholz to express confidence in the solidity of the country’s largest lender as fears about the global financial system sent fresh shudders through […]

March 16, 2023

Financial institutions took billions in short-term loans this week from the Federal Reserve as the industry copes with a serious crisis of confidence and liquidity, the central bank reported Thursday. Utilizing tools the Fed rolled out Sunday, banks looking for […]

March 13, 2023

Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks […]

January 26, 2023

Swedish banking group SEB beat fourth-quarter net profit forecasts on Thursday on higher interest income after central bank rate hikes and trading gains, prompting it to boost its proposed dividend. Surging inflation, in part due to the energy crisis stemming […]

January 13, 2023

Wells Fargo shares came under pressure Friday after the bank reported shrinking profits, weighed down by a recent settlement and the need to build up reserves amid a deteriorating economy. The stock fell more than 2% in Friday’s trading. Here’s […]

January 13, 2023

Bank of America reported fourth-quarter results on Friday that showed higher interest rates helped the Wall Street giant make up for a sharp slowdown in investment banking. Here are the key metrics compared with what Wall Street expected: Earnings: 85 […]

December 20, 2022

The Bank of Japan broadened caps for a benchmark government bond yield, a surprise move that pushed bond yields higher globally and dinged stocks in Asia. The central bank on Tuesday said that it would allow the yield curve on […]

November 3, 2022

The Bank of England raised its key interest rate by 0.75 percentage point on Thursday, its largest rise since 1989, as it fights a surge in inflation from rising energy prices even as the U.K. economy slides into an expected […]

November 2, 2022

The European Central Bank is warning that many of the financial institutions it oversees are moving too slowly to shield themselves and Europe’s banking system from the impact of climate change, and it is setting new deadlines to meet those […]

October 26, 2022

The Bank of Canada (BoC) has raised its benchmark interest rate by 50 basis points, underwhelming a market that was priced for 75 basis points. This follows a 75 basis point (bps) rate hike at the previous meeting in September, […]

October 14, 2022

Just five days after the former chancellor unveiled his mini-budget on 23 September, the Bank took unprecedented action to purchase long-dated UK government bonds, known as gilts, that are effectively government IOUs. Bonds are a principal way countries raise funds. […]

October 14, 2022

The People’s Bank of China Governor Yi Gang reportedly said the central bank will nudge lenders to increase loans to the infrastructure, manufacturing and property sectors to better support the economy. Yi asserted a vow to “step up the implementation […]