Posts Tagged ‘bank’

JP Morgan, Bank of America subject of money laundering probe

U.S. financial regulators are reportedly investigating JP Morgan Chase and Bank of America for possible breaches that allowed the flow of money to drug dealers or terrorists, according to a The New York Times report on Saturday. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

JP Morgan, Bank of America subject of money laundering probe

U.S. financial regulators are reportedly investigating JP Morgan Chase and Bank of America for possible breaches that allowed the flow of money to drug dealers or terrorists, according to a The New York Times report on Saturday. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

European Central Bank (ECB) head Mario Draghi reportedly working on an unlimited, sterilized bond buying plan

To help troubled euro zone countries like Spain and Italy lower their cost of borrowing, European Central Bank (ECB) head Mario Draghi is reportedly pushing for a plan to purchase unlimited amount of their government bonds. Draghi is expected to present his plan for approval by the ECB’s governing council. Article © AHN – All […]

European Central Bank (ECB) president Draghi readies bond buying plan but offers no specifics

Nathan Andrada – Fourth Estate Cooperative Contributor Frankfurt, Germany (4E) – European Central Bank (ECB) president Mario Draghi on Thursday revealed the possibility of the ECB intervening in the bond market to battle the crisis, although he never offered any concrete action. People expecting for a grand solution were left disappointed by Draghi’s statement in […]

APEC banks reaffirm cooperation to better serve SMEs

Fourth Estate Cooperative Staff Manila, Philippines (4E) – Thirteen banks from the Asia Pacific Economic Cooperation (APEC) bloc serving mostly small and medium enterprises (SMEs) reaffirmed their cooperation to better serve SMEs during a meeting in Manila on Thursday. Heads of delegates from Standard Chartered Bank Hong Kong (SCBHK), Japan Finance Corp. (JFC), Industrial Bank […]

Stocks bounce back in Europe, Asia and the US

Jerimiah Yap – Fourth Estate Cooperative Writer London, United Kingdom (4E) – WIth the way the stock market bounced back the past two days, it seems Europe is on its way to recovery. For the second consecutive day, European stocks gained and companies posted earnings. The Stoxx Europe 600 Index climbed to 0.4 percent from […]

ECB, Bank of England set to stimulate Europe’s economy

Nathan Andrada – Fourth Estate Cooperative Contributor Frankfurt, Germany (4E) – If the ECB proceeds with the quarter percentage rate cut, it will be the first time for its benchmark interest rate to fall under 1 per cent, setting it at a record low 0.75 per cent, essentially bringing its deposit rates to zero. The […]

Global financial markets tremble as Moody’s downgrades rating of 15 banking titans

Moody’s on Thursday downgraded credit rating of world’s 15 largest financial institutions, including Barclays, Citigroup, Deutsche Bank, Goldman Sachs and HSBC. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Lehman emerges from bankruptcy

Diane Alter – AHN News Reporter New York, NY, United States (AHN) – Lehman Brothers Holding Inc. emerged from bankruptcy Tuesday by beginning to pay creditors as stipulated in a plan set up by the court on Dec. 6. The biggest creditors with a combined $ 138 billion were Citigroup and Bank of Mellon Corp […]

Bangladesh microfinance banker turns down World Bank post

Nobel laureate Professor Muhammad Yunus on Friday quietly turned down the nomination offer for the position of World Bank chief, after Bangladesh prime minister requested European Parliament delegation to nominate micro-finance pioneer. Article © AHN – All Rights Reserved Economy, Business And Finance Stories