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India's central bank governor says state banks need more capital

reuters.com

India's central bank governor says state banks need more capital

- MUMBAI (Reuters) - State-run banks will need a bigger recapitalization to resolve bad loan problems weighing on their balance sheets, the Reserve Bank of India Governor Urjit Patel said on Saturday. Extra capital will need to be raised in several ways, including raising funds from the market and through the government diluting its stake in state-run banks, Patel told a conference in Mumbai
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Categories: Business | 
Places: United States |  Asia |  S. Asia |  India | 

Investor Carl Icahn steps down as adviser to US President Trump

straitstimes.com

Investor Carl Icahn steps down as adviser to US President Trump

- WASHINGTON (REUTERS) - Billionaire investor Carl Icahn ended his role as a special adviser to US President Donald Trump on Friday (Aug 18) after facing criticism that policy recommendations he offered could help his own investments. Some Democratic lawmakers and biofuels advocates argued that Icahn's guidance to the Republican administration created a conflict of interest with his businesses, including oil refining company CVR Energy Inc
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Categories: Politics & Government |  Business | 
Tags: Politicians |  Finance |  Investments |  Investors |  Donald John Trump | 
Places: United States |  Singapore | 

Key piece of Alaska Dispatch News bankruptcy case delayed

adn.com

Key piece of Alaska Dispatch News bankruptcy case delayed

- A judge on Friday afternoon delayed a crucial decision about whether to approve a loan of up to $1 million from potential buyers to keep Alaska's largest newspaper operating as it goes through bankruptcy court. At a federal bankruptcy court hearing, the judge, Gary Spraker, allowed Alaska Dispatch News LLC, the group poised to buy the company and Northrim Bank more time to reach an agreement on the loan
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Categories: Business | 
Places: Americas |  North America |  United States |  Alaska | 

Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says

chicagotribune.com

Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says

- In an unprecedented ruling, an appellate court declared the city of Harvey so severely neglected its firefighters' pension fund that it was on the verge of insolvency — meaning there might not be any money for retirees or firefighters on the job there today. The ruling comes as local firefighters complain of equipment in disrepair and manpower cuts. And it follows another embarrassing ruling in which a Cook County judge took away control of Harvey's water finances from leaders of the scandal-plagued and debt-ridden south suburb
Read More ...

Categories: Business | 
Tags: Money |  Finance |  Investments |  Debts |  Investment Funds |  Insolvency |  Pension funds |  Bankruptcy | 
Places: Americas |  North America |  United States |  Cook | 

Chase set to close some Central Texas bank branches

mystatesman.com

Chase set to close some Central Texas bank branches

- The banking giant confirmed Friday that it plans to close four more Central Texas branches by year’s end. It has already closed three local branches so far this year, in addition to six locations inside H-E-B stores that were shuttered in 2016. The newly announced closures are: Westgate and William Cannon, 6800 Westgate Blvd., South Austin The Linc, 6406 N
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Categories: Business | 
Places: Americas |  North America |  United States |  Texas | 

Travis Kalanick lashes back at major Uber investor in new filing

cnn.com

Travis Kalanick lashes back at major Uber investor in new filing

- Uber cofounder Travis Kalanick is lashing back at Benchmark, the early Uber investor suing him for fraud. Benchmark filed a suit against Kalanick last week, alleging that he withheld important information about Uber's mismanagement prior to the board's June 2016 decision to give Kalanick authority to create three new board seats. Kalanick filed a response in Delaware's Court of Chancery on Thursday, saying Benchmark's lawsuit is "part of its public and personal attack" on him
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Tags: Finance |  Investments |  Investors | 
Places: Americas |  North America |  United States |  Texas |  Travis | 

Wells Fargo’s scandal damaged their credit scores. What does bank owe them?

washingtonpost.com

Wells Fargo’s scandal damaged their credit scores. What does bank owe them?

- Samir Hanef exited his Durham home late last year to find his 2010 Honda Civic missing. The police told the clinical social worker that the car was not stolen, as he thought, but repossessed. Hanef is one of about 20,000 Wells Fargo customers whose cars were allegedly seized in recent years after the bank improperly charged them for auto insurance they did not need, driving some into delinquency
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Categories: Business | 
Places: Americas |  North America |  United States |  Midwest |  West |  North Dakota |  Fargo | 

Stocks Drop as Attacks in Spain Push Investors to Safe Havens

nytimes.com

Stocks Drop as Attacks in Spain Push Investors to Safe Havens

- LONDON — Stocks in Europe and Asia fell sharply on Friday after terrorist attacks in Spain added to the issues concerning investors, spurring them to park their money in traditional safe havens. The attacks in Barcelona and the seaside town of Cambrils, which were the worst to hit Spain in more than a decade, left at least 14 people dead, and were the latest in a string of violent incidents to strike European cities in the past two years
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Tags: Markets |  Stock Markets |  Finance |  Investments |  Investors |  Shares |  Financial Markets | 
Places: United States |  S. Europe |  Iberia |  Spain | 

Ukraine central bank warns of new cyber-attack risk

reuters.com

Ukraine central bank warns of new cyber-attack risk

- KIEV (Reuters) - The Ukrainian central bank said on Friday it had warned state-owned and private lenders of the appearance of new malware as security services said Ukraine faced cyber attacks like those that knocked out global systems in June. The June 27 attack, dubbed NotPetya, took down many Ukrainian government agencies and businesses, before spreading rapidly through corporate networks of multinationals with operations or suppliers in eastern Europe
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Categories: Business |  Technology | 
Places: United States |  E. Europe |  Ukraine | 

Ousted Uber CEO Kalanick: Investor lawsuit a 'public and personal attack'

cnbc.com

Ousted Uber CEO Kalanick: Investor lawsuit a 'public and personal attack'

- The ousted chief executive officer of Uber Technologies called a lawsuit filed against him by one of the company's top investors a "public and personal attack" without merit, according to court documents filed late on Thursday. Venture capital firm Benchmark Capital, which says it owns 13 percent of Uber and controls 20 percent of the voting power, sued former Uber CEO Travis Kalanick last week to force him off the board, where he still has a seat, and rescind his remaining power there, citing fraud and deception
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Categories: Business |  Law & Crime | 
Places: Americas |  North America |  United States | 

Harford still opposes crowdfunding sites for school donations

baltimoresun.com

Harford still opposes crowdfunding sites for school donations

- Raising money through online crowdfunding sites is an ideal way for teachers to find the funds to purchase classroom materials and should be restored, the head of the Harford County teachers' union says, but the schools superintendent disagrees. "That is not necessarily the fault of the system, but there's no way to fill all the holes and this, if properly restricted, guided, governed, is one of those ways you can fill the holes," Ryan Burbey, president of the Harford County Education Association, said during a presentation to the school board earlier this week
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Places: Americas |  North America |  United States |  South |  Atlantic |  Maryland |  Harford | 

Japan's consumer prices seen rising for seventh straight month in July

reuters.com

Japan's consumer prices seen rising for seventh straight month in July

- But the projected 0.5 percent year-on-year increase will be well off the Bank of Japan's target and keep the central bank under pressure to maintain its massive monetary stimulus, analysts say. "The increase is largely due to the effect of rising energy costs. Upward price pressure for other goods remains weak," said Takumi Tsunoda, senior economist at Shinkin Central Bank. The nationwide core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, rose 0
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Categories: Business | 
Places: United States |  Asia |  N.E. Asia |  Japan | 

Indonesia's central bank seen holding key rate despite weak consumption

reuters.com

Indonesia's central bank seen holding key rate despite weak consumption

- JAKARTA (Reuters) - Indonesia's central bank is expected to keep its benchmark interest rate unchanged on Tuesday despite sluggish private consumption that is denting economic growth, a Reuters poll showed. In the poll, 19 out of 20 analysts predicted that Bank Indonesia (BI) would hold the 7-day reverse repurchase rate IDCBRR=ECI at 4.75 percent, where it has been since October. The other analyst forecast that BI would cut the key rate by 25 basis points
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Categories: Business | 
Places: United States | 

Former Uber CEO says investor lawsuit a 'public and personal attack'

reuters.com

Former Uber CEO says investor lawsuit a 'public and personal attack'

- SAN FRANCISCO (Reuters) - The ousted chief executive officer of Uber Technologies Inc [UBER.UL] called a lawsuit filed against him by one of the company's top investors a "public and personal attack" without merit, according to court documents filed late on Thursday. Venture capital firm Benchmark Capital, which says it owns 13 percent of Uber and controls 20 percent of the voting power, sued former Uber CEO Travis Kalanick last week to force him off the board, where he still has a seat, and rescind his remaining power there, citing fraud and deception
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Categories: Business |  Law & Crime | 
Places: Americas |  North America |  United States | 

Exclusive: Bank jitters over Venezuela stall oil delivery to U.S. refiner

reuters.com

Exclusive: Bank jitters over Venezuela stall oil delivery to U.S. refiner

- The cargo's fate adds to state-run oil company PDVSA's precarious financial position. Revenue from the company's oil sales, which have suffered because of low prices and declining production, account for more than 90 percent of the nation's exports. Major banks are cutting exposure to Venezuela as a result of political upheaval in the South American country. Some have closed accounts linked to officials of the OPEC member who have had sanctions leveled against them by the U
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Categories: Business | 
Places: North America |  United States |  Venezuela | 

Orange County employee pension fund alleges big banks are costing retirees money

latimes.com

Orange County employee pension fund alleges big banks are costing retirees money

- Three major public pension funds, including the Orange County Employees Retirement System, have sued a half-dozen Wall Street banks, alleging they illegally conspired to control a corner of the stock market, leading to higher charges for the funds and thus less money for retirees. In a lawsuit filed Wednesday in U.S. District Court in New York, the funds allege Bank of America, Goldman Sachs, Credit Suisse, JPMorgan Chase, Morgan Stanley and UBS worked together since at least 2009 to “boycott, attack and acquire multiple entities” that tried to lower costs in the stock loan market
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Places: North America |  United States |  New York |  Florida |  Orange |  Orange | 

Wheat falls to contract lows on fund selling; soy gains

inforum.com

Wheat falls to contract lows on fund selling; soy gains

- CHICAGO - Chicago Board of Trade wheat futures fell about 1 percent to life-of-contract lows on Thursday, Aug. 17, weighed down by investment fund short selling and abundant global supplies, traders said. Corn futures also eased but held just above Wednesday's multimonth lows while soybean futures gained on strong Chinese demand and as rains this week missed some growing regions in the U
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Home / United States / Business / Finance

Finance - United States

  • Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says
    Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says

    , chicagotribune.com

    In an unprecedented ruling, an appellate court declared the city of Harvey so severely neglected its firefighters' pension fund that it was on the verge of insolvency — meaning there might not be any money for retirees or firefighters on the job there today. The ruling comes as local firefighters complain of equipment in disrepair and manpower cuts. And it follows another embarrassing ruling in which a Cook County judge took away control of Harvey's water finances from leaders of the scandal-plagued and debt-ridden south suburb
    Read More ...

     

    Categories: Business | 
    Tags: Money |  Finance |  Investments |  Debts |  Investment Funds |  Insolvency |  Pension funds |  Bankruptcy | 
    Places: Americas |  North America |  United States |  Cook | 

Banking Institutions

  • Chase set to close some Central Texas bank branches
    Chase set to close some Central Texas bank branches

    , mystatesman.com

    The banking giant confirmed Friday that it plans to close four more Central Texas branches by year’s end. It has already closed three local branches so far this year, in addition to six locations inside H-E-B stores that were shuttered in 2016. The newly announced closures are: Westgate and William Cannon, 6800 Westgate Blvd., South Austin The Linc, 6406 N
    Read More ...

     

    Categories: Business | 
    Places: Americas |  North America |  United States |  Texas | 

Financial Institutions

  • India's central bank governor says state banks need more capital
    India's central bank governor says state banks need more capital

    , reuters.com

    MUMBAI (Reuters) - State-run banks will need a bigger recapitalization to resolve bad loan problems weighing on their balance sheets, the Reserve Bank of India Governor Urjit Patel said on Saturday. Extra capital will need to be raised in several ways, including raising funds from the market and through the government diluting its stake in state-run banks, Patel told a conference in Mumbai
    Read More ...

     

    Categories: Business | 
    Places: United States |  Asia |  S. Asia |  India | 

Investments

  • Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says
    Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says

    , chicagotribune.com

    In an unprecedented ruling, an appellate court declared the city of Harvey so severely neglected its firefighters' pension fund that it was on the verge of insolvency — meaning there might not be any money for retirees or firefighters on the job there today. The ruling comes as local firefighters complain of equipment in disrepair and manpower cuts. And it follows another embarrassing ruling in which a Cook County judge took away control of Harvey's water finances from leaders of the scandal-plagued and debt-ridden south suburb
    Read More ...

     

    Categories: Business | 
    Tags: Money |  Finance |  Investments |  Debts |  Investment Funds |  Insolvency |  Pension funds |  Bankruptcy | 
    Places: Americas |  North America |  United States |  Cook | 

Investors

  • Investor Carl Icahn steps down as adviser to US President Trump
    Investor Carl Icahn steps down as adviser to US President Trump

    , straitstimes.com

    WASHINGTON (REUTERS) - Billionaire investor Carl Icahn ended his role as a special adviser to US President Donald Trump on Friday (Aug 18) after facing criticism that policy recommendations he offered could help his own investments. Some Democratic lawmakers and biofuels advocates argued that Icahn's guidance to the Republican administration created a conflict of interest with his businesses, including oil refining company CVR Energy Inc
    Read More ...

     

    Categories: Politics & Government |  Business | 
    Tags: Politicians |  Finance |  Investments |  Investors |  Donald John Trump | 
    Places: United States |  Singapore | 

Central Bank

  • India's central bank governor says state banks need more capital
    India's central bank governor says state banks need more capital

    , reuters.com

    MUMBAI (Reuters) - State-run banks will need a bigger recapitalization to resolve bad loan problems weighing on their balance sheets, the Reserve Bank of India Governor Urjit Patel said on Saturday. Extra capital will need to be raised in several ways, including raising funds from the market and through the government diluting its stake in state-run banks, Patel told a conference in Mumbai
    Read More ...

     

    Categories: Business | 
    Places: United States |  Asia |  S. Asia |  India | 

Managed Funds

  • Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says
    Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says

    , chicagotribune.com

    In an unprecedented ruling, an appellate court declared the city of Harvey so severely neglected its firefighters' pension fund that it was on the verge of insolvency — meaning there might not be any money for retirees or firefighters on the job there today. The ruling comes as local firefighters complain of equipment in disrepair and manpower cuts. And it follows another embarrassing ruling in which a Cook County judge took away control of Harvey's water finances from leaders of the scandal-plagued and debt-ridden south suburb
    Read More ...

     

    Categories: Business | 
    Tags: Money |  Finance |  Investments |  Debts |  Investment Funds |  Insolvency |  Pension funds |  Bankruptcy | 
    Places: Americas |  North America |  United States |  Cook |