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  • 02/19/2018 16:01:12

    India closes bank branch at heart of fraud, shares slide

    Indian investigators have closed down a branch of a state-run bank that is at the heart of a $1.77 billion fraud and questioned more of its employees as they probed the biggest scam in the country's banking history. As Kate King reports it's left investors shaken, and wiped more than a quarter off Punjab National Bank's market value. Video provided by Reuters        

  • 02/19/2018 13:21:00

    Rs 114-bn PNB scam: Govt seeks RBI's view on lapses in banking system

    In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator

  • 02/19/2018 13:06:26

    BoE's Carney says Bitcoin has 'pretty much failed' as currency

    LONDON (Reuters) - Bitcoin <BTC=BTSP> has failed as a currency measured by standard benchmarks, and is neither a store of value nor a useful way to buy things, Bank of England Governor Mark Carney said on Monday.

  • 02/19/2018 13:02:25

    Banker: "Nightmare" dodging extortion attempts in Latvia

    Latvia's top banking official, a key member of the European Central Bank, has been accused by local bank Norvik of seeking kickbacks, trying to launder Russian money and retaliating against the bank when it refused to play by the "rules of the game."

  • 02/19/2018 12:06:00

    Industry chambers for privatisation of PSBs, Congress against idea

    Ficci President Rashesh Shah argued a dynamic banking sector was the need of the hour

  • 02/19/2018 11:29:25

    Goldman asks if US debt trajectory is sustainable

    The bank says US debt is within the range of several other developed-market economies, although at the high end.

  • 02/19/2018 09:19:30

    AP Exclusive: Key EU banker accused of bribery, Russia ties

    Executives at Latvian bank Norvik say the nation's central bank chief, who was detained Saturday without charges, sought to extort money from their firm for years.

  • 02/19/2018 00:39:19

    India's federal investigators close bank branch at heart of fraud

    MUMBAI/NEW DELHI (Reuters) - Indian investigators closed down a branch of a state-run bank that is at the heart of a $1.77 billion fraud and questioned more of its employees as they probed the biggest scam in the country's banking history, police sources said on Monday.

  • 02/19/2018 00:09:56

    Russia's Sistema says gets Sberbank loan of up to 105 bln roubles

    Russia's Sistema conglomerate said in a statement on Monday that Sberbank had agreed to loan it up to 105 billion roubles for five years and that it had put up shares in MTS as collateral. Sistema said that 40 billion roubles of the loan would be used to meet its obligations under a settlement with oil major Rosneft, Bashneft and the Republic of Bashkortostan.

  • 02/17/2018 11:32:34

    Judge approves Takata's U.S. bankruptcy plan

    Takata Corp's U.S. unit received court approval for its bankruptcy exit plan, a plaintiffs' law firm said on Saturday, clearing the way for a $1.6 billion sale of Takata assets and providing compensation for those injured by the company's deadly air bags. Takata and its U.S. unit, TK Holdings Inc, filed for bankruptcy last year in the wake of the largest automotive recall in history.

  • 02/17/2018 11:06:00

    Banks may take a hit of at least Rs 176 bn from PNB scam: I-T Dept

    But the total hit to Indian banks 'may well exceed' that amount, the I-T department said in its note

  • 02/17/2018 09:37:04

    Three held as $1.8 billion fraud ripples through Indian banks

    India's federal police detained two employees of Punjab National Bank , the state-run lender that says it has been the victim of a $1.77 billion fraud, in the first arrests in a fast-widening probe into the country's biggest-ever bank scam.

  • 02/17/2018 09:27:03

    Exclusive: Indian banks may take more than $3 billion hit from PNB fraud - tax dept

    Indian banks could take a hit of more than $3 billion from loans and corporate guarantees provided to diamond companies at the center of a massive alleged fraud at the state-run Punjab National Bank, the tax department has estimated.

  • 02/17/2018 00:11:00

    PNB scam: 2 bank officials, Nirav Modi's company executive arrested by CBI

    People detained including PNB's former deputy manager Gokulnath Shetty, bank's single window operator Manoj Kharat, and Hemant Bhat, who is authorised signatory of the Nirav Modi group firms

  • 02/16/2018 17:24:00

    Rs 114-billion fraud: Other banks did not raise an alarm, says PNB

    The PNB also named the banks in the complaint, which included the Frankfurt and Mauritius branches of the State Bank of India

  • 02/16/2018 17:18:00

    Narendra Modi, Hassan Rouhani may discuss rupee investment mechanism today

    Banking hurdles in way of rupee investment route

  • 02/16/2018 16:33:32

    Winn-Dixie owner Bi-Lo preparing for bankruptcy filing - sources

    Supermarket company Bi-Lo LLC, which owns the Winn-Dixie chain, is planning to close at least 100 stores in a potential bankruptcy, two people familiar with the matter said on Friday. One of the people said the filing could come as soon as next month.

  • 02/16/2018 15:04:10

    BRIEF-Bank Of Montreal Amends Its Normal Course Issuer Bid To Repurchase For Cancellation Up To An Additional 7 Million ...

    Bank Of Montreal(BMO): * BANK OF MONTREAL AMENDS ITS NORMAL COURSE ISSUER BID TO REPURCHASE FOR CANCELLATION UP TO AN ADDITIONAL 7 MILLION OF ITS COMMON SHARES. * Bank Of Montreal(BMO) - RECEIVED APPROVALS FROM TORONTO STOCK EXCHANGE AND OFFICE OF SUPERINTENDENT OF FINANCIAL INSTITUTIONS CANADA TO AMEND EXISTING NCIB.

  • 02/16/2018 15:01:47

    BRIEF-HomeTown Bankshares Reports Q4 Earnings Per Share $0.07

    HomeTown Bankshares Corp(HMTA): * Q4 EARNINGS PER SHARE $0.07. * ‍EPS ON A FULLY DILUTED BASIS OF $0.07 FOR Q4 2017​. * ‍CORE REVENUES FOR Q4 OF $6.1 MILLION IN 2017, UP 6% OR $341,000 OVER Q4 2016​. * ‍NET INTEREST INCOME IN Q4 2017 INCREASED $323,000 TO $4.5 MILLION FROM Q4 OF 2016​ Source text for Eikon: Further company coverage:

  • 02/16/2018 13:58:27

    Federal Reserve Board seeks to fine and bar Barclays banker over FX manipulation

    The Federal Reserve Board is looking to fine and permanently bar former Barclays employee Peter Little over manipulation in the currency market. Little, the former head of Barclays' foreign exchange spot trading desk in New York, is "alleged to have engaged in unsafe and unsound practices by using electronic chat rooms to coordinate with traders and competitor banks to influence FX pricing benchmarks," the Fed said in a statement on Friday. Little is also being accused of failing to supervise his subordinates. The Fed is seeking to fine him $487,500 and bar him from working in the banking industry. This is the third time the central bank's board of governors has taken action against Barclays or its employees, following the barring of former FX traders Christopher Ashton and Michael Weston. The move to censure Little comes after domestic and U.K. regulators have slapped foreign-exchange traders at prominent banks with hefty fines over the past several years for allegedly using chat rooms to manipulate currency closing prices, or fixes, for everything from the U.S. dollar to the Japanese yen .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/16/2018 06:23:50

    Citigroup raises CEO Corbat's pay 48 pct to $23 mln

    Citigroup Inc(C) raised Chief Executive Officer Michael Corbat's annual compensation by 48 percent to $23 million for 2017, a year in which the bank made more money from operations but still fell short of earlier targets. Directors considered recent progress toward new targets when setting Corbat's pay, according to a public filing on Friday.

  • 02/16/2018 01:19:00

    PNB scam won't affect recap plan, bank can take Rs 114-bn hit: Govt sources

    'The bank will get its recapitalisation share of Rs 50 billion, as allocated earlier,' stated the FinMin sources

  • 02/15/2018 23:47:47

    Allianz Q4 profit down 22 pct on U.S. tax hit, weak dollar

    * One-off sale of bank, catastrophes also weigh. * Meets operating profit target for the full year. * Combined ratio rose in '17 but CEO vows to improve in '18. By Tom Sims. The German insurer Allianz posted a 22 percent decline in net profit in the fourth quarter of 2017 after a U.S. tax overhaul, a weak U.S. dollar, other one-off costs and natural disasters weighed on earnings.

  • 02/15/2018 20:58:14

    Bank of Japan Gov. Haruhiko Kuroda set to serve 2nd term

    Bank of Japan Gov. Haruhiko Kuroda nominated for second five-year term as the head of the central bank

  • 02/15/2018 20:41:36

    Nikkei rises on relief over Kuroda's BOJ reappointment

    TOKYO, Feb 16 (Reuters) - Japanese stocks rose on Friday morning, with investors relieved to see the government appoint Bank of Japan Governor Haruhiko Kuroda for another term and choose an advocate of bolder monetary easing as one of his deputies.

  • 02/15/2018 17:17:00

    Rs 114-bn PNB fraud: People, not processes, responsible, say bankers

    Bankers say it is the nature of the business of public sector banks that makes them susceptible to fraud

  • 02/15/2018 15:02:39

    Codorus Valley Sets Up New Share Buyback Program

    Codorus Valley Bancorp(CVLY), parent company of PeoplesBank, a Codorus Valley Company, said after markets closed on Thursday that it has set up a new treasury stock repurchase program. Under the newly approved stock repurchase program, the company is authorized to buy back up to 4.9% of the company's issued and outstanding common stock at Feb. 13.

  • 02/15/2018 14:25:53

    China's Treasury holdings in 2017 climbed by the most in seven years

    China's holdings of U.S. government paper rose the most in seven years last year, according to recently published data from the widely-watched Treasury International Capitol Report. The second-largest economy's stockpile of Treasurys climbed more than $120 billion in 2017 to $1.185 trillion as of December. As pressure on the yuan abated last year, it began to accumulate U.S. government paper. The People's Bank of China buys Treasurys, a mainstay of its foreign-exchange reserves, to stabilize the currency . Earlier in January, reports suggested the Chinese government would diversify away from U.S. bonds amid a flare-up in its trade relations. The reports were later refuted, but underlined bond investors' concerns the U.S. was ramping up issuance of debt at a time when its largest foreign holder appeared unwilling to absorb this increase in supply.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/15/2018 11:02:23

    U.S. Bancorp hit with $613M in penalties for lax money laundering controls

    Bank ignored red flags on millions of dollars linked to race car driver and payday lender Scott Tucker, who was later convicted of money laundering        

  • 02/15/2018 10:39:26

    US Bank pays $613 million over money laundering charges

    U.S. Bancorp is paying $613 million to settle allegations the bank had poor anti-money laundering controls, which put the bank repeatedly at risk of being used as a conduit for criminals.

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