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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 | 

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 | 

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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Places: Americas |  North America |  United States |  Midwest |  West |  North Dakota |  Fargo | 

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 | 

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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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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Places: United States | 

Markets still bewildered after China central bank explains yuan 'X'-factor

reuters.com

Markets still bewildered after China central bank explains yuan 'X'-factor

- SHANGHAI (Reuters) - A week after China's central bank finally offered some explanation of the mysterious new 'X'-factor it has added to its daily yuan reference rate, traders and analysts say they are none the wiser over how to make sense of it. The People's Bank of China (PBOC) added what it described as a "counter-cyclical factor" to its secret recipe for the yuan's mid-point calculations from late May
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Places: 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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Categories: Business |  Law & Crime | 
Places: North America |  United States |  New York |  Florida |  Orange |  Orange | 

Venezuela central bank has $2 billion cash to pay 2017 debt: report

reuters.com

Venezuela central bank has $2 billion cash to pay 2017 debt: report

- The funds that could be used for debt payment include $1.3 billion in cash and IMF Special Drawing Rights held in central bank reserves, and $700 million in separate accounts that the central bank lists as "other financial assets," according to a report by local firm Financial Synthesis. The figures show that Venezuela, which many economists and analysts believe is on the verge of default, has the resources on hand to cover this year's sovereign bond payments
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Places: United States | 

European Central Bank still concerned about low inflation

koat.com

European Central Bank still concerned about low inflation

- FRANKFURT, Germany (AP) — The European Central Bank’s policymakers are still concerned that inflation in the 19-nation eurozone is too low despite an improving economy and seem worried about the strength of the shared euro currency, their last meeting shows. The account of the July 20 meeting, published Thursday, shows the rate-setters noted that market investors seemed overly aggressive in thinking the bank would wind down its stimulus program soon
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Places: Americas |  North America |  United States |  Europe |  West |  Mountain |  New Mexico | 

Global stocks slip as investors digest central bank reports

richmond.com

Global stocks slip as investors digest central bank reports

- TOKYO (AP) — Stock markets mostly fell on Thursday as investors digested the minutes to the last policy meetings of the Federal Reserve and European Central Bank. KEEPING SCORE: Germany's DAX edged 0.1 percent lower to 12,253 and the CAC 40 of France fell 0.2 percent to 5,166. Britain's FTSE 100 gave up 0.4 percent to 7,405. Dow and S&P 500 futures both lost 0
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Categories: Business | 
Places: United States | 

European Central Bank still concerned about low inflation

richmond.com

European Central Bank still concerned about low inflation

- FRANKFURT, Germany (AP) — The European Central Bank's policymakers are still concerned that inflation in the 19-nation eurozone is too low despite an improving economy and seem worried about the strength of the shared euro currency, their last meeting shows. The account of the July 20 meeting, published Thursday, shows the rate-setters noted that market investors seemed overly aggressive in thinking the bank would wind down its stimulus program soon
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Categories: Business | 
Places: United States |  Europe | 

SEC, DOJ charge seven with insider trading off stolen bank data

marketwatch.com

SEC, DOJ charge seven with insider trading off stolen bank data

- The Securities and Exchange Commission charged seven individuals on Wednesday with insider trading in what the regulator said was a wide-ranging scheme that generated more than $5 million in profits by trading on confidential information about dozens of impending mergers and acquisitions allegedly stolen from the investment-bank employer of one of the accused. The traders allegedly attempted to evade detection by using shell companies, code words and an encrypted, self-destructing messaging application
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Categories: Business |  Law & Crime | 
Places: Americas |  North America |  United States | 

Seven charged in US insider trading ring

channelnewsasia.com

Seven charged in US insider trading ring

- NEW YORK: U.S. authorities on Wednesday announced insider trading charges accusing seven people of generating more than US$5 million of profit based on tips from a Bank of America Corp employee about dozens of pending corporate transactions. Daniel Rivas, who was the alleged tipper and later worked at Royal Bank of Canada , and James Moodhe, the father of Rivas' girlfriend, both pleaded guilty to charges of fraud, conspiracy, and making false statements to Federal Bureau of Investigation agents
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Categories: Business | 
Places: United States |  Singapore | 

Layoffs, executive shakeup at online banker Simple

oregonlive.com

Layoffs, executive shakeup at online banker Simple

- Online banker Simple laid off 10 percent of its work force Wednesday, the Portland-based company's second round of cuts this year. The layoffs include at least five members of Simple's executive team, according to someone familiar with the changes. "To give some perspective on today's changes, we realized we need to scale back in some areas of the business in order to focus on product and moving fast with product innovations that help our customers," Simple spokeswoman Shauna Causey wrote in an email
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Places: Americas |  North America |  United States | 

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Home / United States / Business / Finance / Financial Institutions

Financial Institutions - United States

  • Markets still bewildered after China central bank explains yuan 'X'-factor
    Markets still bewildered after China central bank explains yuan 'X'-factor

    , reuters.com

    SHANGHAI (Reuters) - A week after China's central bank finally offered some explanation of the mysterious new 'X'-factor it has added to its daily yuan reference rate, traders and analysts say they are none the wiser over how to make sense of it. The People's Bank of China (PBOC) added what it described as a "counter-cyclical factor" to its secret recipe for the yuan's mid-point calculations from late May
    Read More ...

     

    Categories: Business | 
    Places: United States | 

Banking Institutions

  • Ukraine central bank warns of new cyber-attack risk
    Ukraine central bank warns of new cyber-attack risk

    , reuters.com

    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
    Read More ...

     

    Categories: Business |  Technology | 
    Places: United States |  E. Europe |  Ukraine | 

Central Bank

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

    , reuters.com

    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
    Read More ...

     

    Categories: Business | 
    Places: United States | 

Interest Rates

  • Fed keeps key interest rates unchanged amid low inflation
    Fed keeps key interest rates unchanged amid low inflation

    , abcnews.com

    The Federal Reserve is keeping its benchmark interest rate unchanged at a time of low inflation, which remains persistently below the Fed's target level. The Fed noted Wednesday in a statement that inflation has stayed undesirably low even though the job market keeps strengthening, with the unemployment rate just 4.4 percent. Normally, solid job growth drives up wages and prices. But the Fed's preferred gauge of inflation has moved further below its 2 percent target in recent months
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    Categories: Business | 
    Places: Americas |  North America |  United States | 

Credit Unions

  • Area high school students learn financial responsibility through Burbank City Federal Credit Union
    Area high school students learn financial responsibility through Burbank City Federal Credit Union

    , latimes.com

    Area high school students learned about financial responsibility and mobile banking Monday during a program that also covered topics such as safety and fraud. The program, called Independent Advantage, was started 18 years ago by Burbank City Federal Credit Union, which hosts a class of 40 students every month. The class meets once a week for four weeks in the credit union, and young people learn about the ins and outs of debit cards, ATM access and ways to stay safe using online banking
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    Categories: Business |  Education | 
    Places: Americas |  North America |  United States | 

Investment Banks

  • Perella Weinberg Hires Tech Specialist to Court More Traditional Companies
    Perella Weinberg Hires Tech Specialist to Court More Traditional Companies

    , nytimes.com

    Photo Many investment banks are eager to stock up on technology specialists who can advise Silicon Valley denizens on mergers, initial public offerings and other transformative transactions. With its latest hire, however, the boutique investment bank Perella Weinberg Partners wants to court more traditional companies and help show how technology is set to disrupt them. The firm is expected to announce on Monday that it has hired Richard Sherlund as a partner in its San Francisco office
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    Categories: Business | 
    Places: Americas |  North America |  United States | 

Accounts

  • Detroit mail carrier arrested for depositing customers' checks into her bank account
    Detroit mail carrier arrested for depositing customers' checks into her bank account

    , clickondetroit.com

    DETROIT - A Detroit mail carrier was arrested Wednesday after she stole customers' checks and deposited thousands of dollars into her personal account, officials said. Brianna Renee Readous is a letter carrier for the United States Postal Service's North End Post Office in Detroit. According to police, in March, Readous deposited four separate checks from customers into her personal account. On March 21, Readous is accused of depositing a check for $400 from a customer on her route
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    Categories: Business | 
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