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March 29, 2013
The Archbishop of Canterbury
has spent the run up to Easter contemplating the ethics of the
trading floor and ways to curb greed in the City of London.
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March 28, 2013
Cypriots queued at banks as
they reopened on Thursday under tight controls imposed on
transactions, but there was no sign of a run on deposits that
had been feared after the government was forced to accept a
stringent EU rescue package.
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March 27, 2013
Banks are lining up to expand
their presence in Canada, and the government welcomes this as a
way of fostering competition, Canadian Finance Minister Jim
Flaherty said on Wednesday.
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March 27, 2013
Chinese Internet users are
crying foul over the perceived unfair treatment doled out to
Apple Inc by state-run media which has actively
criticised the smartphone maker for the past two weeks over its
warranty policy.
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March 26, 2013
Canada's banking watchdog said
on Tuesday it sees the country's six largest banks as being of
systemic importance to the domestic economy and that it will
make them keep 1 percent more capital on hand starting January
2016 to protect them from financial disruption.
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March 26, 2013
A bank should limit its
exposure to any other single bank at no more than 5 percent of
its capital base to ensure it can stay in business if the other
lender defaults, global regulators proposed on Tuesday.
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March 25, 2013
Banks are strengthening their
foreign exchange options desks, investing in people and
technology, as companies and hedge funds seek protection or
profit from big moves in major currencies.
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March 24, 2013
India's IT
outsourcers are promoting "mini CEOs" capable of running
businesses on their own, while trimming down on the hordes of
entry-level computer coders they normally hire as they try to
squeeze more profits out of their staff.
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March 22, 2013
Global regulators have proposed
hefty charges to cancel out capital relief banks enjoy when
buying pricey insurance to cover risky loans without
acknowledging the cost in a timely way.
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March 21, 2013
The European Central Bank
set Cyprus a Monday deadline to agree a bailout plan,
threatening to cut off funding to the islands' cash-strapped
banks if a programme is not agreed by then with the EU and the
IMF.
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March 20, 2013
Walmart announced today that it is expanding a "scan and go" self-checkout initiative that uses Walmart's app for Apple devices, and plans to add Android devices as well.
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March 20, 2013
The Cypriot government denied
on Wednesday that it had struck a deal to sell Cyprus Popular
Bank to Russian investors as it tries to shore up its
crippled banking sector.
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March 19, 2013
A U.S. Senate panel on
Tuesday voted 21 to 1 in favor of Mary Jo White to lead the U.S.
Securities and Exchange Commission, moving her nomination to the
full Senate for consideration.
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March 19, 2013
The world's top banks have made
big strides towards meeting tougher capital rules several years
before full compliance is required, global regulators said on
Tuesday.
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March 18, 2013
Cypriot ministers rushed on
Monday to revise a plan to seize money from bank deposits as
part of an EU bailout, in an effort to ensure lawmakers
supported it in a vote later in the day.
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March 14, 2013
In a blow to two major Wall Street
banks, the Federal Reserve told Goldman Sachs and
JPMorgan Chase that they must fix flaws in how they
determine capital payouts to shareholders, but still approved
their plans for share buybacks and dividends.
The Fed said JPMorgan and Goldman would have to submit new
plans by the end of the third quarter. A senior central bank
official declined to identify specific problems.
In the second phase of the Fed's annual stress tests of the
18 largest U.S.
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March 14, 2013
JPMorgan Chase & Co
ignored risks, misled investors, fought with regulators and
tried to work around rules as it dealt with mushrooming losses
in a derivatives portfolio, a Senate report alleged in a damning
review of the largest U.S. bank's management.
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March 14, 2013
UBS drew fire
on Thursday as it announced it paid CEO Sergio Ermotti almost $9
million in 2012 and welcomed a new investment bank chief with a
$26 million package, just as the Swiss bank is in the process of
firing 10,000 staff.
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March 13, 2013
Corporate leaders from the
defense, technology, energy and banking industries told
President Barack Obama on Wednesday they agreed cyber attacks
were a top security threat but that they were looking for a
"light touch" from the government in response to the risk.
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March 13, 2013
Reforms to the world's financial system still fall short of ensuring that big and systemically important banks will not need to be bailed out by governments if they fail, regulators say.
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March 12, 2013
Global banking regulators will examine whether their new rules forcing lenders to hold more capital to absorb any future losses should be simplified after criticism that they are too complex to be effective.
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March 11, 2013
Britain should adopt
legislation that could force all banks to split routine retail
operations from riskier investment activities if new rules
designed to protect taxpayers fail, an influential panel of
lawmakers said.
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March 11, 2013
Europe has spent hundreds of
billions of euros rescuing its banks but may have lost an entire
generation of young people in the process, the president of the
European Parliament said.
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March 08, 2013
Bank of America Corp
will seek more lending and cash management business with
companies in Asia and elsewhere outside its U.S. home turf,
Chief Executive Brian Moynihan said, an area ripe for expansion
where it lags its big rivals.
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March 07, 2013
The U.S. regulator of corporate auditors
criticized PricewaterhouseCoopers on Thursday for not
doing enough to ensure its audits were properly carried out, in
a rare public reprimand of a major accounting firm.
Reuters