Posts Tagged ‘Banking’

Banking giant JPMorgan reports big drop in profits

Linda Young – AHN News Writer New York, NY, United States (AHN) – Wall Street banking giant JPMorgan reported a steep plunge in its quarterly earnings Friday morning caused by large losses in its investment banking and trading divisions. JPMorgan is the nation’s largest bank by assets. Bank officials reported that it earned $ 3.7 […]

Number of distressed U.S. banks declines

The Federal Deposit Insurance Corp. released its third quarter report on Tuesday that showed some fruitful signs of life for the troubled banking industry. View full post on Banking Stories

Fitch downgrades Royal Bank of Scotland and Lloyds Banking Group

Credit rating company Fitch has downgraded two banks in the United Kingdom. View full post on Banking Stories

UBS loses $2 billion on unauthorized trading

Swiss bank UBS disclosed on Wednesday that its investment banking arm lost about $2 billion because of unauthorized banking. View full post on Banking Stories

PayPal ending money market fund

Online money movement service PayPal is ending its Money Market accounts. In an email that PayPal Money Market Fund customers reported receiving, PayPal said it was closing its Money Market Fund effective Wednesday. View full post on Banking Stories

Bangladesh apex court to deliver verdict on Nobel laureate Yunus Thursday

Bangladesh’s supreme court will rule Thursday on a petition challenging the high court’s verdict endorsing Nobel laureate Professor Muhammad Yunus’ removal as managing director of the bank he founded. View full post on Banking Stories

ING halts executive bonuses until bailout repaid

A public outcry has caused the chief executive of the government bailed-out Dutch banking giant ING to announce he will forego his $1.78 million bonus this year and has asked other managers to do the same. View full post on Banking Stories

U.S. banks start charging $5 fee to use ATMs

Some U.S. banks have started to increase their ATM fees, according to report. Among them are JP Morgan Chase and Hong Kong and Shanghai Banking Corporation USA. View full post on Banking Stories

Qatar pledges $4bn to Spanish banks

Qatar is planning to invest $4.14 billion in Spanish savings banks as the industry gears up to raise funds to meet new capital rules. View full post on Banking Stories

Canada plugs money laundering loopholes

The Financial Action Task Force in Canada said Thursday the multi-government group tasked with putting in place anti-money laundering and anti-terrorist financing practices in the country has plugged loopholes. View full post on Banking Stories