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Category: Financial Services


Financial Services, Industries

SEB beats profit forecasts helped by trading income, hikes dividend

January 26, 2023

Via: Investing.com

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 […]


Financial Services, Industries

Wells Fargo shares fall as bank’s profits cut in half by higher reserves, settlement costs

January 13, 2023

Via: CNBC

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 […]


Financial Services, Industries

Bank of America tops expectations as higher rates help offset declines in investment banking

January 13, 2023

Via: CNBC

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 […]


Financial Services, Industries

In a surprise move, Bank of Japan loosens bond yield cap

December 20, 2022

Via: ABC News

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 […]


Financial Services, Industries

Bank of England Raises Key Interest Rate by 0.75 Point

November 3, 2022

Via: The Wall Street Journal

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 […]


Financial Services, Industries

European Central Bank pushes banks to speed up climate work

November 2, 2022

Via: ABC News

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 […]


Financial Services, Industries

Breaking News: Bank of Canada Raises Interest Rates by 0.50%

October 26, 2022

Via: DailyFX

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, […]


Financial Services, Industries

Bank of England ceases bond-buying after spending £19.3bn

October 14, 2022

Via: Sky News

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. […]


Financial Services, Industries

China Central Bank Wants Lenders To Step Up And Help Spur Economy: Here’s What It Plans

October 14, 2022

Via: Markets Insider

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 […]


Financial Services, Industries

Bank of England confirms intervention to stabilise pensions market after mini-budget

October 6, 2022

Via: Sky News

Responding to a letter from Treasury Select Committee chairman Mel Stride asking for greater clarity on why the Bank intervened at the end of September, Sir Jon Cunliffe, the Bank’s deputy governor for financial stability, said it launched an emergency […]


Financial Services, Industries

UK central bank intervenes in market to halt economic crisis

September 28, 2022

Via: ABC News

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 […]


Financial Services, Industries

Banks take stock of payment fraud threats

September 28, 2022

Via: Payments Dive

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 […]


Financial Services, Industries

How Central Banks Impact the Forex Market

September 19, 2022

Via: DailyFX

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 […]


Financial Services, Industries

Bank of Japan (BoJ) – Foreign Exchange Market Intervention

September 14, 2022

Via: DailyFX

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 […]


Financial Services, Industries

Bank of England raises rates by half-point to tame inflation

August 4, 2022

Via: ABC News

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 […]


Financial Services, Industries

Credit Suisse tempers growth plans in turbulent market

June 28, 2022

Via: Investing.com

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 […]


Financial Services, Industries

Contractionary Monetary Policy: What is it and How Does it Work?

June 28, 2022

Via: DailyFX

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 […]


Financial Services, Industries

European Central Bank gathers after borrowing costs rise

June 15, 2022

Via: ABC News

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 […]


Financial Services, Industries

Zurich Insurance to exit Russian market, sell business to local team

May 20, 2022

Via: Investing.com

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 — […]


Financial Services, Industries, News

US, banks unveil plan to ease food crisis from Russia’s war

May 18, 2022

Via: ABC News

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 […]