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January 19, 2022

banking

Citigroup profit exceeds expectations on robust investment banking

Reuters
The logo of Citi bank is pictured at an exhibition hall in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha Register now for FREE unlimited access to Reuters.com Register Jan 14 (Reuters) – Citigroup Inc (C.N) on Friday posted a 26% drop in fourth-quarter profit but exceeded market expectations as strong......

Turkish finance minister briefs banking sector on new economic model

Reuters
ISTANBUL, Dec 18 (Reuters) – Turkey’s Finance Minister Nureddin Nebati has briefed the country’s banking association, BDDK banking watchdog and state bank managers on the government’s new low-rates economic model, the association said on Saturday, after the lira currency sank to record lows. The lira fell beyond 17 to the......

Early Theranos investor will sell his stock certificate in the company as NFT, banking on Elizabeth Holmes’ fame

CNBC
CNBC – For more and to sign up click here Marc Ostrofsky (L) and Theranos Founder and C.E.O. Elizabeth Holmes attend the Vanity Fair New Establishment Summit cocktail party at The Ferry Building on October 6, 2015 in San Francisco, California. Michael Kovac | Getty Images Eighteen years after he......

Controversial Biden banking nominee drops out of contention after bruising hearing

USA TODAY – For more and to sign up click here Zachary Halaschak Saule Omarova, President Joe Biden’s pick for comptroller of the currency, has withdrawn herself from consideration. Omarova faced broad opposition from the banking industry and Republicans, as well as skepticism from centrist Democrats, because of her controversial......

Australia banking watchdog publishes long-awaited capital rules

Reuters
The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney, Australia August 4, 2017. REUTERS/David Gray/File Photo Register now for FREE unlimited access to reuters.com Register SYDNEY, Nov 29 (Reuters) – Australia’s banking regulator published on Monday a final set of rules asking banks......

Singapore’s DBS suffers second day of online banking disruption

Reuters
A man walks past DBS signage in Singapore, Oct. 8 2019. REUTERS/Feline Lim/File Photo Register now for FREE unlimited access to reuters.com Register SINGAPORE, Nov 24 (Reuters) – DBS Group Holdings Ltd (DBSM.SI), Southeast Asia’s largest bank, is facing disruptions in its online banking services for the second consecutive day......

U.N. warns of ‘colossal’ collapse of Afghan banking system

Reuters
UNITED NATIONS, Nov 22 (Reuters) – The United Nations on Monday pushed for urgent action to prop up Afghanistan’s banks, warning that a spike in people unable to repay loans, lower deposits and a cash liquidity crunch could cause the financial system to collapse within months. In a three-page report......

The Digital Transformation of Our Holiday Shopping Season – Technology

newsusa
(EastBanc Technologies) – The term “digital transformation” is used a lot in business, and while the concept has existed for years, it’s discussed more than ever today as a result of the COVID-19 pandemic. Digital transformation describes a company’s adoption of software so it can adapt quickly to business and......

Community bankers announce opposition to ‘alarming’ embattled Biden banking nominee

USA TODAY – For more and to sign up click here Zachary Halaschak The Independent Community Bankers of America has taken the rare move of publicly opposing President Joe Biden’s nominee for comptroller of the currency ahead of her much-anticipated hearing. The ICBA, which represents thousands of community banks across......

AstraZeneca vaccine turns profitable, drugmaker banking on new orders

Reuters
Vaccine adds one cent to Q3 EPS Co expects profit from shot to offset antibody costs Q3 sales jump 47%, but costs bite 2021 sales outlook improved, profit maintained Shares down 2.4% Nov 12 (Reuters) – AstraZeneca (AZN.L) is counting on new orders to move its COVID-19 vaccine to “modest......

Hearing set for controversial Biden banking pick called ‘radical’ by GOP

USA TODAY – For more and to sign up click here Zachary Halaschak President Joe Biden’s controversial pick for a top banking regulatory position is set to be grilled by Republican lawmakers next week who accuse her of radicalism. Saule Omarova, who was nominated to be comptroller of the currency,......

ESG will create financial bubbles just like crypto, banking body CEO says

CNBC
CNBC – For more and to sign up click here Financial bubbles will form as investors scramble to make deals in the sustainability space, according to Tim Adams, the president and CEO of the Institute of International Finance. Speaking during a panel at CNBC’s Sustainable Future Forum on Thursday, Adams......

Coinbase dives deeper into banking by letting users deposit paychecks into their accounts

CNBC
CNBC – For more and to sign up click here Cryptocurrency exchange Coinbase is going deeper into traditional financial services, allowing users to deposit their paycheck directly into their online account. Coinbase said on Monday that U.S. users will be able to use the direct deposit service for any percentage......

Deutsche Bank CFO: There should be banking M&A, we must prepare

Reuters
James von Moltke, CFO of Germany’s Deutsche Bank is pictured in Frankfurt, Germany, February 2, 2018. REUTERS/Ralph Orlowski BERLIN, Sept 23 (Reuters) – Deutsche Bank (DBKGn.DE) sees the logic that there should be consolidation in the European banking sector and the task in hand is to prepare for that outcome,......

Biden to tap law professor who wants to ‘end banking as we know it’ as OCC chief: reports

USA TODAY – For more and to sign up click here Joseph Choi President Biden is reportedly planning to nominate a law professor who has said she wants to “end banking as we know it” to run the Office of the Comptroller of the Currency (OCC).Sources told … Source link To Return to the......

Crypto’s Rapid Move Into Banking Elicits Alarm in Washington

New York Times
BlockFi, a fast-growing financial start-up whose headquarters in Jersey City are across the Hudson River from Wall Street, aspires to be the JPMorgan Chase of cryptocurrency. It offers credit cards, loans and interest-generating accounts. But rather than dealing primarily in dollars, BlockFi operates in the rapidly expanding world of digital......

Crypto Banking and Decentralized Finance, Explained

New York Times
DeFi platforms are structured to become independent from their developers and backers over time and to ultimately be governed by a community of users whose power comes from holding the protocol’s tokens. By comparison, centralized finance, or CeFi, businesses more closely resemble traditional finance, or TradFi, where consumers enter into......

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