Banca Monte dei Paschi di Siena of Italy, the worst performer in the stress tests, announced that it would raise 5 billion euros in new capital.
We're facing a really important election. While I am not jumping up and down about the prospect of a Hillary Clinton presidency, I find the notion of a Trump presidency unspeakable. Let's face it, UFT is the big dog in teacher unions. Show More Summary
Editor’s Intro: In the points & miles game there are huge potential rewards (Free travel! Big savings! Free upgrades!). Those rewards are real, but unfortunately things sometimes go awry. You can have your bank or credit accounts...Show More Summary
Barclays second quarter profit dropped 53% to £763 million, the bank announced on Friday. Barclays' non-core business sustained losses of £1.9 billion, the main factor behind the big drop. The profit figure excludes notable items, and...Show More Summary
As we've discussed, the big event of the week is the Bank of Japan decision on monetary policy tonight. Today the speculation is that Abe presented his big government spending plan earlier than expected, and bigger than expected, to put pressure on the Bank of Japan to act now, rather [...]
An obscure law enforcement unit that roots out financial crimes has many convictions, but most cases involve community or regional bankers.
Equity, a new film out Friday, subverts the typical Wall Street tale. There are no big swinging dicks. The main characters are women, and incredibly, they are not wives, prostitutes, or cocaine conduits. Instead, they are real people talking about work, driving the stock market, and (gasp) getting pregnant. The film ... More »
Markets are certain that the Federal Reserve won’t raise rates in July’s policy meeting. We explore how interest rate dynamics impact big banks in the U.S.
Hillary Clinton’s campaign was given a big boost during the second night of the Democratic National Convention from a number of celebrities, including Elizabeth Banks. As well as taking to the stage in support of Clinton, the Hunger Games star also released a video featuring herself and a number of other Hollywood faces singing “Fight... Show More Summary
Australia's largest banks have lodged a petition with anti-trust regulators in the country to negotiate with Apple and get their own digital payments services on iPhones. Currently, Apple Pay is the only service that can use the NFCShow More Summary
Allowing banks to free up more capital for things like home loans would be a boost for banks, and for the U.S. economy, he added. Many market watchers have expressed concern that big banks are being regulated into utilities -- that is...Show More Summary
This week’s edition of Monday Night Raw was the start of a new era as WWE provided us with the best episode of Raw this year. Thanks to four long matches that were really good, minimal involvement from authority figures and big winsShow More Summary
Big banks are facing competitive pressures from two forces in recent years: regulators and new (fintech) competitors. Regulators have cracked down on many of the traditional activities that fueled growth in the financial sector during the pre-crisis boom. To compensate, many big banks have migrated towards more retail-like activities such as wealth that face less […]
On today’s episode of Double Down, hosts Max Keiser and Stacy Herbert are joined by Valentin Schmid of the Epoch Times to discuss the big bets and the even bigger warnings of a major yuan devaluation.
$40 Billion Leftovers for Yahoo?Fed Prepares Action Against Goldman Sachs
by Angela Guess A recent release out of the company reports, “Alliance News specializes in breaking news on all UK listed stocks, economic issues, central bank decisions and currencies. Their team focuses on uncovering stories and carrying...Show More Summary
Forex is a Monopoly, controlled by a small 'cartel' of big banks. That's changing, and changing fast - as a number of non-bank FX participants are replacing the traditional 'big 12.' As we explain in Splitting Pennies - the fact remains,...Show More Summary
I stand by my post last week that “just” the removal of the AA club access from the Citi BANK Prestige card last week was just no big deal (for most of us). However, the MASSIVE destruction of the perks (HT to M2M) that is on the way...Show More Summary
Two billion adults worldwide do not have bank accounts.
Traders expect fireworks in the currency market later this week when the Bank of Japan bank updates the markets on its plans for monetary stimulus. The one-week implied volatility of the U.S. dollar versus the Japanese yen ended last week at the highest level since the 2008 financial crisis, according to derivatives strategists at Credit Suisse. Show More Summary