Spanish bank BBVA is setting up a fintech-focused venture capital firm with over $150 million (£104 million) to invest. The bank said its BBVA Ventures fund, set up in 2013 with $100 million (£69 million), will be rolled into a new VC...Show More Summary
Brian Moynihan’s pay rose to $16 million, 23 percent larger than in 2014, as the big bank generated higher profits and put its mortgage problems squarely behind it.
The German bank is offering to buy back 5 billion euros of bonds. A big take-up means more capital for Deutsche, but could also imply a lack of confidence in the bank’s solvency. Given the potential for bond prices to snap back, it may be better for investors to sit it out.
Fears that central bank action could cause more harm that good to the global economy have lifted gold prices in a big way so far in 2016. John LaForge, head of real asset strategy at the Wells Fargo Investment Institute, is skeptical. He says that investors should own some gold in general, but advises to "not add to gold holdings at this time." Read More »
Bank shares have slumped and bank bond yields are up. ECB chief Mario Draghi can stop the rout from damaging the economy by buying lenders’ debt. The moral hazard concerns are big, but manageable. Breakingviews imagines a memo from a bank CEO.
Deutsche Bank just announced plans for a big bond buyback. The stock was up more than 9% following the news. The plan is to buy about $5.4 billion in total — €3 billion ($3.4 billion) in euro-denominated bonds and $2 billion in dollar-denominated...Show More Summary
Bill Clinton said he “would grab a rifle” and fight for Israel during paid speech. Bill and Hillary Clinton are under increasing scrutiny from the mainstream press over paid speeches they have given to big banks in exchange for millions of dollars. Show More Summary
Local market down at noon on concerns over global banking sector, end of Rio Tinto dividend policy change.
Regarded in Germany as a national asset and a symbol of economic might, Deutsche Bank now sits at the center of the “too big to fail” debate.
Apparently inspired by "The Big Short," some investors are trying to bet against subprime car loans. Just after the film about the 2008 financial crisis debuted in December, banks began receiving an influx of calls from money managers...Show More Summary
Complacency by big banks offers ‘golden opportunities’ for mortgage brokers, YBR’s Bouris says.
ASIC chairman Greg Medcraft advises big four banks to 'plead guilty' over bank bill swap rate probe.
Vermont senator builds bank account for a protracted primary battle with Hillary Clinton.
Well, markets sure looked scary there for a while. Concerns about weak economic growth in China, currency wars, emerging-market debt bubbles, ultra-low oil prices and crude’s impact on the balance sheets of big banks felt real yesterday. But not today! The SPDR S&P 500 ETF Trust (SPY) climbed as much as 1.6% earlier in the […]
"If a bank is too big to fail, it is too big to exist," reads a policy statement on BernieSanders.com. Every year, the Financial Stability Board publishes a global list of "systemically important banks"; Bernie Sanders believes these banks should not exist. Were anything to go wrong at Goldman Sachs, Bank of...
By Sinead Cruise and Richa Naidu LONDON (Reuters) - Big European bank stocks, mired by a seemingly endless list of investor concerns, are being sold-off more brutally than they were at the start of the financial crisis in 2008. Europe's...Show More Summary
President Barack Obama is calling for higher taxes on the wealthy and on big banks in his final budget proposal, released on Tuesday. The plan also calls for billions of dollars to be committed to clean energy, education, healthcare,...Show More Summary
Report alleges Clinton gave big banks a free pass for financial crisis during glowing speeches about industry
In the past we’ve seen large, well-connected businesses run into trouble, and then run to government to keep afloat and unafraid of competition. The airlines do it, GM did it, the banks did it, and every time Democrats and establishment Republicans oblige. Show More Summary
Or, breaking up the big banks might provide some visceral joy, but it’s not clear to me that solves the key problem of financial fragility in modern capitalist systems. I recently talked on C-SPAN’s BookTV about my book, Lost Decades, coauthored in Jeffry Frieden. In it, I recounted the story of how, by hubris and […]