Commercial banks

Residential Housing And Estate Agents As Mortgage Approvals Rise

London rental apartments see buying binge ahead of new tax

The London property market is witnessing soaring buying activity for rental apartments ahead of new tax on home coming into effect from April 2016. The latest rush for buying is also pushing prices up.

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Housing Market As U.K. Asking Prices Rose An Annual 7.4 Percent in December

UK house prices up 1.7% on lower interest rates

The UK house prices rose for the consecutive second month in January 2016. The UK property market demand is growing in the wake of lower interest rates and encouraging job growth rate. The average cost of a house in the UK was up 1.7 percent in January.

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ING Groep NV Full-Year Earnings News Conference

ING's Q4 earnings beat forecast

The Dutch banking major ING Groep's revenues for the fourth quarter were above the analysts' forecasts. ING's exposure to the oil companies is putting pressure on its stock, which suffered 20 percent drop. However, ING is also receiving indirect benefits from lower oil prices.

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Chinese consumers are taking pictures of a gold Maitreya...

Gold price retreats from 12-week high on US Fed statement

Gold soared to three-month high early this week as investors switched over to safe have following the concerns about the global economy. The US Federal Reserve indicated a challenging global economy and this may not prevent it from raising interest rate. Gold price reached to $1,127.80 on 27 January and this propelled investors to book profits.

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Bitcoins As The Digital Currency Climbed To Highest Levels Since Early November

Major banks funding Bitcoin startup on recording blockchain deals

A bitcoin startup Digital Asset Holdings has received funding from major banks. It will work closely with investors on research and commercialization of bitcoin technology applications. Digital Asset said that it has raised over $50 million funding from 13 investors. The list of investors includes JPMorgan Chase & Com, Citigroup Inc, BNP Paribas SA, CME Group Inc and Accenture Plc.

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American Express Co. Credit Cards & Signage Ahead Of Earns Figures

AmEx to slash cost by $1bn by 2017

Feeling the heat of competition in the global payments industry, American Express (AmEx) is in the process of reducing costs by $1billion by end of 2017. AmEx posted losses for the fourth quarter consecutively. The net income dropped from $1.44 billion to $873 million or 80 cents per share for the quarter. The forecast for this year disappointed investors and analysts.

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The Canadian dollar or loonie is under pressure amid weak

Canadian imports turn costlier as oil price drops

The falling oil price below $30 per barrel is impacting Canadian economy, which mostly depends upon commodities. Along with oil price, Canadian currency Loonie too declined against the US dollar. The weaker Loonie has eroded the purchasing power of Canada and is making imports costlier. Canada imports vegetables from the US. The surging US dollar made vegetables prices expensive by three folds for Canadian consumers.

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Stocks Continue Steep Downward Slide

Asian Stocks Dipped As Wall Street Plunged: China's Slowdown, Slump In Oil Prices Dominate

The Wall Street took a second plunge on Wednesday in the first two weeks of 2016 after trading failed to pickup after Tuesday. This sent ripples to global markets especially Asian markets which all closed sharply lower predicating on growing concern for China's slow growth, stability of its currency, and slump in oil prices.

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Workers Harvest Sugar Cane

Drought leaves SA farmers owing $7.5 bln to banks

The debt burden of South African farmers reached to over Rand 125 billion ($7.5 billion). The total debt of farmers was up 14 percent in 2015 to Rand117 billion. Economists alert that the prevailing slump in commodities markets, tighter monetary, fiscal policy, drought conditions and drop in value of Rand will trigger higher than expected inflation rate.

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Mitsubishi UFJ Set To Buy Substantial Stake In Morgan Stanley

MUFG buys 20% stake in Philippines' Security Bank

Japan’s Mitsubishi UFJ Financial Group is said to have agreed to buy a 20 percent stock in Philippines' lender Security Bank Corp for $773 million (36.9 billion pesos), as an effort to strengthen its growth in Southeast Asia.

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Goldman Sachs International Co-Chief Executive Officer Richard Gnodde Interview

Goldman Agrees To Pay $5.1 billion, Resolves 7 Years’ Pending Mortgage Security Dispute

Goldman Sachs Group Inc. has finally agreed to pay $5.1 billion on Wednesday to resolve a seven years’ pending dispute over faulty mortgage securities. The penalty amount remains lower compared to those counted by other Wall Street competitors. Fourth quarter profit of the firm may be hit by the penalty counting. But investors welcome the settlement and its share price rises by 1.5% on Thursday.

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Behind The Scenes At The Bristol Airbus Factory

2016 may be tough for UK manufacturers as confidence eases

The weakening business confidence coupled with global economic challenges is impacting the UK manufacturing sector in more negative way. Despite odds forecast for 2016, majority of manufacturing firms in the UK are going ahead with their investment plan for technology and innovation. About 44 percent of UK companies participated in a survey expressed their concerns about challenging 2016 year.

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SAUDI-DESERT-OIL-ARAMCO

HSBC and JPMorgan Well Ahead In ARAMCO IPO Race

State-owned Saudi Arabian Oil Co. (ARAMCO) is possibly going for an IPO aiming to raise funds for $1 trillion to $10 trillion. Some shares of the IPO may be awarded among the local banks and investors following ARAMCO’s action plan. However, experience in banking operations in the kingdom is believed to play the key role for selection which put HSBC and JPMorgan well ahead in the IPO grabbing race.

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Citigroup Inc.

U.S. banks ramp up credit card lending but margins may suffer

As traditional Wall Street moneymakers like stock and bond trading suffer, banks are growing increasingly willing to invest in less glamorous operations: their credit card businesses.

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Bank Asya

Loyal depositors shoulder Turkey's Bank Asya while political war rages

Selling everything from their sofas to their wedding rings, Bank Asya clients are battling to shore up the Turkish lender against what they say is a government-orchestrated bid to scuttle it.

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