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Category: Financial Services


Financial Services, Industries

Deutsche Bank, JPMorgan lead drop in financial shares amid report the banks moved suspicious funds

September 21, 2020

Via: CNBC

Financial stocks came under pressure on Monday amid a report that a number of global banks moved allegedly illicit funds over the past two decades despite warnings from U.S. officials. Shares of Deutsche Bank dropped nearly 8%, while JPMorgan fell […]


Financial Services, Industries

Mastercard pledges $500 million to promote financial inclusion in Black communities

September 17, 2020

Via: Fortune

Mastercard is committing $500 million toward a series of initiatives meant to increase financial inclusion among Black communities and close the racial wealth and opportunity gap in the U.S., the digital payments giant announced today. Mastercard’s investment, to be made […]


Financial Services, Industries

Citigroup Resumes Job Cuts Ahead of Risk-Related Reprimand

September 15, 2020

Via: TheStreet

Citigroup will resume slashing its workforce this week, joining some of its rivals including Wells Fargo (WFC) – Get Report that are now reducing headcount in a bid to rein in costs ahead of what is anticipated to be a […]


Financial Services, Industries

Eastern Europe leads the world in cryptocurrency adoption—legal and otherwise

September 14, 2020

Via: Fortune

New data provided to Fortune by the cryptocurrency research firm Chainalysis finds that Ukraine and Russia rank first and second, respectively, in the adoption of cryptocurrencies like Bitcoin. But while the vast majority of this activity is legitimate, Eastern Europe […]


Financial Services, Industries

Mastercard launches digital currency kit for central banks

September 9, 2020

Via: Fortune

In the ten years since Bitcoin came on the financial scene, central banks have quietly been dabbling in digital currencies of their own. Now, Mastercard has unveiled a tool designed to simulate how those currencies would work in the real […]


Financial Services, Industries

U.S. financial firms like Citi and BlackRock make inroads into the Chinese market

September 2, 2020

Via: CNBC

From regulatory approval to business decisions, major American financial giants are moving deeper into the Chinese market, even though political tensions between the two countries are growing. Citi announced Wednesday it received a domestic fund custody license from the China […]


Financial Services, Industries

New U.S. sanctions add uncertainty for global banks looking to tap China market

August 11, 2020

Via: CNBC

U.S. sanctions on Hong Kong leader Carrie Lam raises uncertainty for international banks that were looking at a historic opening of the Chinese financial market. The U.S. Treasury announced Friday sanctions on the semi-autonomous region’s chief executive and 10 other […]


Financial Services, Industries, News

4 ways the Senate GOP’s new coronavirus stimulus bill ‘falls short,’ according to critics

July 28, 2020

Via: Fortune

Senate Republicans finally unveiled their proposal for a new coronavirus stimulus package on Monday—a roughly $1 trillion plan known as the HEALS (Health, Economic Assistance, Liability Protection, and Schools) Act, which follows up on the $2.2 trillion CARES Act passed […]


Financial Services, Industries

A deep dive into Bank of America financials yields evidence of the economy’s big disconnect

July 24, 2020

Via: Fortune

Bank of America at this juncture epitomizes a never-before-seen disparity between an economy that just underwent the fastest, deepest dive ever, and consumers who keep paying their bills as if the good times never stopped rolling. Like all of the […]


Financial Services, Industries

Bank of America shares drop as the firm sets aside another $4 billion for coronavirus-related loan losses

July 16, 2020

Via: CNBC

Bank of America on Thursday posted second-quarter earnings that were bolstered by stronger-than-expected bond trading and investment banking revenue. The bank said it generated earnings of $3.5 billion, or 37 cents a share, exceeding the 27 cents a share expected […]