Search Results for: World Bank’s
Standard Chartered to close MidEast branches
November 13th, 2014
Standard Chartered is set to cull an unspecified number of branches in the Middle East, as part of plans to cut up to 100 locations in emerging markets next year in a bid to save $400 million. The global ...
FCA fines five banks £1.1 billion for FX failings
November 12th, 2014
The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ...
China deal sends shares to one-month high, rouble surges
November 10th, 2014
A landmark deal to give global investors easier access to China’s $3.9 trillion stock market helped lift world shares to their highest in over a month on Monday, as renewed tensions in Libya and Ukraine pushed up oil prices. ...
ECB could pump €1tn into eurozone in fresh round of quantitative easing
November 7th, 2014
The European Central Bank is ready to pump up to €1tn (£782bn) of fresh stimulus into the flagging eurozone economy to ward off a dangerous deflationary spiral, Mario Draghi has signalled. Draghi, the ECB’s president, said on Thursday that ...
Singapore Returns Up to $9 Billion to Banks in Rate Probe
November 7th, 2014
Singapore’s central bank gave back as much as S$12 billion ($9.3 billion) that it took from 19 lenders last year as a penalty for trying to manipulate benchmark interest rates. The banks have taken steps to prevent a recurrence ...
Laiki and the European Central Bank in the New York Times
October 27th, 2014
The bankruptcy and accumulated debts of the Laiki Bank were a key element of the Cyprus financial crisis. A recent article (“To Restore Confidence in Economy, A Test of Europe’s Bank’s”, October 17) in The New York Times discusses ...
Islamic Bank of Britain changes name to Al Rayan Bank
October 23rd, 2014
Islamic Bank of Britain plc (IBB) today announced that, subject to formal shareholder approval, it plans to change its name to Al Rayan Bank PLC. The change will be completed in December 2014. The rebrand follows IBB’s acquisition, earlier ...
Forex-Rigging Fines Could Hit $41 Billion Globally: Citi
October 21st, 2014
The cost for banks to settle probes into allegations traders rigged foreign-exchange benchmarks could hit as much as $41 billion, Citigroup Inc. (C) analysts said. Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine ...
ECB May Not Need to Add Stimulus
September 22nd, 2014
The European Central Bank may not need to add stimulus measures after steps in the past three months pushed down the euro, said Governing Council member Ignazio Visco. “Inflation expectations have to be back where they were,” Visco said ...
Draghi Loan Plan Missing Estimates Hampers ECB Stimulus
September 19th, 2014
Mario Draghi is facing renewed pressure to implement quantitative easing after banks borrowed less than estimated in the European Central Bank’s first targeted-loan offer. The Frankfurt-based ECB lent 82.6 billion euros ($106.5 billion) to euro-area banks at a fixed ...
