Citi, Deutsche get go-ahead to probe regulator witnesses in landmark cartel case

SYDNEY (Reuters) – Citigroup Inc (C.N) and Deutsche Bank AG (DBKGn.DE) may cross-examine four antitrust investigators involved in a criminal cartel prosecution against them, an Australian court ruled on Friday, a win for the defence in a closely watched legal battle. The two banks plus JP Morgan Chase & Co (JPM.N) worked on a A$3 billion ($2 billion) stock issue […]

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Treasury yields fall after reports say U.S.-China trade meeting postponed

U.S. Treasury yields slipped on Tuesday after reports said that a meeting between President Donald Trump and Chinese President Xi Jinping could be delayed until December, suggesting investors may have to wait longer for Washington and Beijing to sign off on a partial trade deal. The 10-year Treasury note yieldTMUBMUSD10Y, -2.05% fell 5.1 basis points to 1.814%, while the 2-year note […]

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CORRECTED-Australian bank returns to shrink on extra low rates, competition

(Corrects historical ROE on 6th paragraph to over 15%, not more than 20%) * Investors expect single-digit ROEs in coming years * Lower ROEs driven by sustained low rates, competition, capital * Banks to report second consecutive fall in cash earnings By Paulina Duran SYDNEY, Oct 28 (Reuters) – Returns from Australia’s biggest banks are heading towards the single digits […]

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African nations are building deeper and more transparent financial markets, OMFIF research says

The third iteration of the Absa Africa Financial Markets Index showed that 13 of 20 countries evaluated across the continent now score more than 50 out of 100 overall, compared to just three out of 20 in 2017. Nations are measured on market depth, access to foreign exchange, market transparency, tax and regulatory environments, capacity of local investors, macroeconomic opportunity […]

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PayPal earnings: Expect ‘more catalyst potential than usual’

PayPal Holdings Inc. has “more catalyst potential than usual” heading into its Wednesday afternoon earnings report as the company gets closer to its eBay contract transition, updates investors on delayed partner implementations that led to a lowered outlook three months back, and potentially provides an early view of its 2020 expectations. That’s according to Barclays analyst Ramsey El-Assal, who expects […]

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Federal Agencies Finalize Revisions To Simplify Volcker Rule

Five federal financial regulatory agencies, including the U.S. Federal Reserve, have given final approval to changes in the Volcker Rule that will simplify compliance requirements for banks. The Volcker Rule, passed after the 2008 financial crisis, prohibits banks from dealing in proprietary trading. They are also prohibited from investing in or sponsoring hedge funds, or private equity funds. The rule […]

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Big banks say U.S. consumers sturdy as businesses quiver with growth fears

NEW YORK (Reuters) – Quarterly results from four of the largest U.S. banks on Tuesday showed that American consumers are helping to prop up the economy, even as recession fears have led businesses to pull back on spending and borrowing. JPMorgan Chase & Co (JPM.N) posted strength across all but one of its segments, and executives offered optimistic comments about […]

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Fed plan to buy T-Bills may open door to more stimulus

Investors have interpreted the Federal Reserve’s plan, announced Friday, to soon bolster overnight borrowing through U.S Treasury debt purchases as sending a clear message that the central bank is standing at the ready if markets go haywire. The U.S. central bank said Friday it will purchase $60 billion of short-term Treasury debt each month in an effort to ward off […]

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