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Rescue package in place as Europe's oldest bank revealed weakest in stress tests

The Guardian - ‎1 hour ago‎
A rescue package of the world's oldest bank has been announced after a health check of the biggest banks across the EU showed that Banca Monte dei Paschi di Siena's financial position would be wiped out if the global economy and financial markets came ...
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Monte dei Paschi mulls rescue bids as EU banks await stress-test results

The Guardian - ‎6 hours ago‎
European regulators will release the results of a stress test on MPS, Italy's third largest bank, and 50 others across the EU that are being assessed after the close of US markets on Friday.
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Modest Stimulus Measure Signals Possible Retreat at Bank of Japan

Wall Street Journal - ‎10 hours ago‎
The central bank announced only a modest dose of monetary stimulus Friday, disappointing investors who expected a bolder move to complement a new government spending package.

Silicon Valley Bank treads where few of Canada's banks dare go: Lending money to our tech startups

Financial Post - ‎6 hours ago‎
It's no secret that lending from Canadian banks to scale up a tech startup isn't an easy feat. But now a new avenue is opening up for companies on the hunt for cash.

CompaniesMonte dei Paschi board closes in on private sector rescue

Financial Times - ‎11 hours ago‎
The board of Italy's oldest and most troubled lender Monte dei Paschi di Siena is throwing its weight behind a risky privately funded rescue plan as it seeks to stave off a “bail-in” under new European bank rules. A €5bn recapitalisation proposal put ...
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ECB approves rescue plan for Italian bank Monte dei Paschi: sources

Reuters - ‎5 hours ago‎
N), Citi (C.N), Credit Suisse (CSGN.S), Deutsche Bank (DBKGn.DE), Bank of America (BAC.N) - in addition to the global coordinators JP Morgan and Mediobanca have given a preliminary commitment to underwriting the planned share sale, a source said.
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Banking operations were hit by all India strike

Economic Times - ‎10 hours ago‎
KOLKATA/MUMBAI: Banking operations across India were severely hit on Friday with about 8-10 lakh employees observing a one-day strike, protesting government's bid to privatise IDBI Bank and merge State Bank of India and their associate banks.
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Eurozone economic growth slows, while US GDP disappoints - as it happened

The Guardian - ‎10 hours ago‎
Ex-Anglo Irish Bank chief risk officer Willie McAteer has been sentenced to three and a half years. Former Anglo Irish Bank treasury official John Bowe was handed down a two year prison sentence. Denis Casey, the former Irish Life & Permanent chief ...
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Week Ahead Central Bank Stimulus in Focus

MarketPulse (blog) - ‎5 hours ago‎
The U.S. Federal Reserve and the Bank of Japan (BOJ) showed the two sides of central bank action this week. The Fed's Federal Open Market Committee (FOMC) ended with no change to the U.S.
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People will shift from bank deposits to other instruments, says Arun Jaitley

The Indian Express - ‎4 hours ago‎
People will shift from bank deposits to other instruments, says Arun Jaitley. "It (bank deposit) is certainly safe, but then the whole concept of economic system that banking system pay high rate of interest for those deposits were no longer relevant ...
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Spanish Bank BBVA Targets Fresh Cost-Cuts as Shares Rise

Wall Street Journal - ‎11 hours ago‎
BBVA's net profit dropped 8.2% in the second quarter to €1.12 billion ($1.24 billion), the bank announced Friday. That beat analysts' expectations, however, due to better-than-expected trading income, sending shares up around 4.1% in early afternoon ...
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Nikkei recovers after Bank of Japan fails to meet easing hopes

MarketWatch - ‎12 hours ago‎
The Bank of Japan delivered a big disappointment to markets Friday, offering a moderate easing when many expected something much more aggressive.

Wealthy Kenyatta Family Eyes Stake In Distressed Bank In DR Congo

Forbes - ‎13 hours ago‎
According to a report by Kenya's Business Daily newspaper, CBA has written to the Central Bank of the Democratic Republic of Congo (DRC) asking to participate in the re-capitalization of Banque Internationale Pour l'Afrique au Congo (BIAC), after the ...
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Bank of England prepares to tackle Brexit hit

Reuters - ‎8 hours ago‎
After the Bank of Japan (BoJ) on Friday disappointed expectations of a major new stimulus drive, the BoE could even add to the Brexit uncertainty in Britain if it simply shaves its already record-low interest rates, some economists say.
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Canadians' Favourite Bank Isn't One Of The Big Five

Huffington Post Canada - ‎22 hours ago‎
It was followed in the midsize category by President's Choice Financial (789), National Bank of Canada (767) and ATB Financial (766).

The Bank of Princeton Announces Second Quarter 2016 Results

PR Newswire (press release) - ‎6 hours ago‎
As of June 30, 2016, the Bank's total assets of $1.0 billion were relatively unchanged from December 31, 2015. The $12.2 million increase in the Bank's loan portfolio was more than offset by the $18.6 million decrease in the securities portfolio. Total ...
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'European banking sector is challenged,' Barclays CEO warns

CNBC - ‎17 hours ago‎
"The European banking sector is challenged," Barclays CEO Jes Staley told CNBC on Friday ahead of the stress test results.
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Here's what we learned from ICICI Bank's Q1 earnings

Economic Times - ‎11 hours ago‎
It won't spook D-Street on Monday: ICICI Bank's earnings numbers, though, bad were still better than what most analysts had expected.
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France's Groupe BPCE to Buy German Fintech Company Fidor Bank

Bloomberg - ‎13 hours ago‎
French bank Groupe BPCE agreed to buy German smartphone banking services company Fidor Group for an undisclosed amount, highlighting interest in so-called fintech software that lets consumers bypass traditional banks. Munich-based Fidor, which ...