KYIV—Ukraine’s third-largest bank dismissed its chairman on Monday after a Kyiv court ordered him to be put under house arrest while police investigate a scuffle with journalists in his office. Last week, police and prosecutors launched an investigation after the news outlet Radio Liberty said staff at the state-run Ukreximbank attacked a team of its…
Ukrainian Bank Chief Dismissed, Put Under House Arrest After Scuffle With Journalists
New Rules Needed to Cover Risks From Cloud Computing, Says Bank of England
LONDON—New rules will be needed to deal with operational risks from banks relying on outsourced ‘cloud’ computing from Amazon, Google, Microsoft, and others for providing services to customers, the Bank of England said on Friday. “Regulated firms will continue to have primary responsibility for managing risks stemming from their outsourcing and third-party dependencies,” the BoE’s…
UK Consumer Confidence Slides as Inflation Worry Mounts: Bank of America
LONDON—British consumer morale has fallen to its lowest since February, when the country was under heavy COVID-19 restrictions, due to worries about the economic outlook and about rising prices, a Bank of America report showed on Friday. The survey chimed with other gauges of consumer confidence in Britain that have suggested a growing cost-of-living squeeze…
ECB’s Brain Trust Spars Over Inflation Outlook
FRANKFURT—The European Central Bank’s two leading economic thinkers sparred on Thursday over how likely it was for the recent, sharp rise in euro zone inflation to become permanent. Philip Lane and Isabel Schnabel, who lead the economic debate on the ECB’s board, both repeated the ECB’s official line that the spike in price growth would…
Bank of America Raises US Minimum Hourly Wage to $21
Bank of America Corp. said on Wednesday it had raised its U.S. minimum hourly wage to $21, as it works to keep its promise of increasing the pay to $25 an hour by 2025. Bank of America in May disclosed plans to raise its minimum wages for its U.S. employees, joining a clutch of firms…
Exclusive: Bank of Mexico Deputy Governor Sees More Rate Hikes Coming
October 5, 2021
admin
AmericasbankBanxicoBusiness & EconomyCompaniesdeputyEconomiesgovernorhikesJonathan HeathMexicorateWorld
0 Comment
MEXICO CITY—The Bank of Mexico’s cycle of interest rate hikes is not yet over and one or two more increases are likely amid concerns about inflation, though any monetary policy moves will depend on incoming data, Bank of Mexico Deputy Governor Jonathan Heath said. Expressing concern about above-target inflation, Banxico, as the bank is known,…
Bank of America Launches Research Coverage for Digital Assets
Bank of America Corp. published its first research coverage focused on cryptocurrencies and other digital assets on Monday, joining other mainstream financial institutions as they strengthen their involvement with the asset class. The move, earlier reported by Bloomberg News, was confirmed later by a BofA spokesperson. The “digital asset universe is too large to ignore,”…
Fed’s Powell Pledges Diversity Focus in Filling Reserve Bank Openings
October 2, 2021
admin
bankBusiness & EconomydiversityEconomieseconomyEric Rosengrenjerome powellOpeningsRaphael BosticReserveUSUS News
0 Comment
WASHINGTON—U.S. Federal Reserve Chair Jerome Powell on Thursday promised to redouble efforts to find “diverse candidates” to replace two high-profile officials who resigned this week after criticism of their securities trading, as the central bank tried to regroup from a blow to its typically staid, technocratic image. “I can absolutely guarantee you that we will…
China Evergrande to Sell $1.5 Billion Stake in Shengjing Bank to State Firm
September 30, 2021
admin
bankBusiness & EconomyChinaChina Business & EconomyChina Evergrande GroupChinese RegimeInternationallendersMarketsSocial IssuesWorld
0 Comment
HONG KONG—Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group said on Wednesday it plans to sell a 9.99 billion yuan ($1.5 billion) stake in Shengjing Bank Co Ltd to a state-owned asset management company. Shengjing Bank, one of the main lenders to Evergrande, had demanded that all net proceeds from the disposal…
Czech Central Bank Delivers Biggest Rate Hike in 24 Years to Battle Inflation Spike
PRAGUE—The Czech National Bank (CNB) raised its main rate by 75 basis points on Thursday, surprising markets with its biggest hike since 1997 and sending a signal it would not allow inflationary expectations to grow further amid a price spike. The Czech economy, like others around the world, is facing rising costs as it grapples…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`