Category: Bank
-
Poland’s Pekao Bank using blockchain to preserve art in arctic vault
•
Poland’s second-largest bank, Bekow Bank, is using blockchain technology to preserve the country’s cultural heritage. According to Pekau press releasethe bank has partnered with Aleph Zero to launch Archiv3, a project that aims to tokenize Polish artworks and store them securely for future generations. Tokenization is the process of converting…
-
Businesses backed by private equity face heightened default risks, warns Bank of England
•
The Bank of England has warned that companies owned or backed by private equity firms are at greater risk of default than other large companies. According to new research, these companies are more vulnerable to financial instability, especially when compared to companies that rely primarily on traditional lenders such as…
-
Canada needs to prepare for rising risk of bank runs: report
•
Breadcrumb links finance Banking services “Clouds emerging on the horizon” indicate necessary changes to existing checks and balances Get the latest from Naimul Karim straight to your inbox subscription Published on October 1, 2024 • Last updated 11 minutes ago • 3 minutes read You can save this article by…
-
Japan Jibun Bank September Manufacturing PMI (final): 49.7 (prior was 49.8)
•
Japan Manufacturing PMI for September 2024, final from S&P Global/Jibun Bank. Another shrinkage result. Primary here: Key points in the report: Production levels fall for the second time in three months The slowest rise in employment levels in the current seven-month sequence Excise duty inflation reaches its lowest levels since…
-
Republican Party’s top bank, Chain Bridge, aims for $167 million valuation in US IPO By Reuters
•
Written by Niket Nishant and Manya Saini (Reuters) – Series Bridge Bancorp (NASDAQ:), a bank that has been popular among Republicans since its inception, is targeting a valuation of up to $167 million in its US initial public offering. The IPO, which is relatively uncommon in the banking sector, comes…
-
Bank of America target EUR/USD to 1.15
•
Bank of America says that with EUR/USD approaching the year-end target of 1.12, the pair has limited upside: Market expectations for interest rate cuts by the Fed and ECB are now fully priced in for 2024 ( I’ll mention that after Powell spoke on Monday, these expectations seemed overblown for…
-
Strong Thai baht hitting exporters and tourism, says central bank By Reuters
•
BANGKOK (Reuters) – The rapid rise in the value of the Thai baht is affecting exporters and tourist spending, the Thai central bank said on Monday, adding that the currency was rising due to a weak dollar against strong regional currencies such as the yuan and yen. The baht hit…
-
TD Bank nears possible guilty plea in money laundering probe, WSJ reports By Reuters
•
(Reuters) – TD Bank is close to potentially pleading guilty to criminal charges that its U.S. retail bank failed to curb money laundering linked to Chinese criminal groups and illicit sales of fentanyl, the Wall Street Journal reported on Friday. Canada’s second-largest bank is in talks with US federal prosecutors…
-
Swiss National Bank Cuts Interest Rate to 1.00%
•
The Swiss National Bank (SNB) announced a 25 basis point interest rate cut on Thursday 26 September 2024, to 1.00% as was widely expected. This marks the third consecutive interest rate cut by the central bank, which also indicated that further cuts may be necessary in the coming quarters to…
-
The Swiss National Bank made its third rate cut, heading towards the end of cutting cycle?
•
The Swiss National Bank, which started the global trend of monetary easing in March, made its third rate cut on Thursday, cutting the rate by 25 basis points to 1%. Switzerland has largely avoided the spike in inflation seen in much of the developed world, with consumer prices rising just…
-
The Swiss National Bank made its third rate cut, heading towards the end of cutting cycle?
•
The Swiss National Bank, which started the global trend of monetary easing in March, made its third rate cut on Thursday, cutting the rate by 25 basis points to 1%. Switzerland has largely avoided the spike in inflation seen in much of the developed world, with consumer prices rising just…
-
Economic calendar Asia Thursday, September 26: Bank of Japan meeting minutes, RBA info too
•
High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
-
Reserve Bank of Australia Holds the Cash Rate at 4.35%
•
The Reserve Bank of Australia today left its cash rate target unchanged at 4.35%, sticking to its hawkish stance on inflation while acknowledging economic uncertainty. The decision was widely expected by market participants, as explained and forecasted in Babypips.com’s event guide. Key points from the RBA statement: Inflation remains above…
-
Bank of Israel sounds skeptical about abolishing NIS 200 bill
•
Following the Globes report of the proposal to abolish the 200-shekel note, and the prime minister’s announcement that a discussion on the issue was needed, the Bank of Israel issued its first public, somewhat skeptical, comment. The bank said it would “present its professional position on such a move, if…
-
China central bank will cut banks’ reserve requirement ratio by 50 bps By Reuters
•
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some or all of your investment amount, and may not be suitable for all investors. Cryptocurrency prices are highly volatile and may be affected by external factors such as financial, regulatory or political events.…
-
People’s Bank of China Governor says must support steady recovery of prices, economy
•
Governor of the People’s Bank of China Pan Gongsheng: Monetary and fiscal policies must be coordinated. It should support a steady recovery in prices in the economy. By the end of the year, we may further reduce the RRR. After the reduction in the reserve requirement ratio, the weighted financial…
-
Ex-Governor Kidero loses bid to stop EACC from probing his bank accounts
•
Former Nairobi Governor Evans Kidero has suffered a setback after the Court of Appeal dismissed a case in which he sought to stop the Ethics and Anti-Corruption Commission (EACC) from investigating his bank accounts. Appeal Court judges Daniel Musinga, Asik Makhandia and Sankali Ole Kantai said yesterday that the questions…
-
$200,000 Bitcoin By 2025? Bank Exec Says Election Won’t Stop Crypto’s Surge
•
Jeffrey Kendrick, a Standard Chartered executive, has been drawing attention in financial circles in recent days with his very clear announcement that Bitcoin could hit $200,000 by the end of 2025. This time around, against the backdrop of growing interest in cryptocurrencies and increased institutional investment, he remains bullish on…
-
How will EU car stocks react to central bank easing? By Investing.com
•
European auto stocks may not see an immediate boost in the wake of interest rate cuts by central banks, despite hopes of increased affordability of new vehicles, Morgan Stanley noted in a note to clients on Wednesday. Historically, the sector does not react quickly to interest rate cuts, and weak…