One of the world’s major financial centers is about to shake up its banking sector
Hong Kong, long a global leader in banking and finance, is bracing for the arrival of so-called virtual banks — financial institutions without physical branches where all transactions are online. Authorities are keen to raise Hong Kong’s game in financial...
Trade finance: We.trade banks to support multiple platforms
The trades, executed by 10 companies via four banks on the we.trade platform – a consortium of Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit — have been described as the first commercially viable open account...
After-hours buzz: AXP, EBAY & more
Check out the companies making headlines after the bell: Shares of American Express tumbled nearly 3 percent in after-hours trading. The financial services company beat analysts’ expectations on earnings for its second quarter, posting $1.84 per share versus the estimated...
‘There’s not much to dislike’ about Dow stock Visa, says trader
Visa has been on a tear this year, up 23 percent and leading the Dow. TradingAnalysis.com founder Todd Gordon is betting on a bigger rally for the stock when it reports earnings next week. Gordon told CNBC’s “Trading Nation” on...
Upbeat Powell Sends Gold to 16-Month Low
Gold has steadied in the Wednesday session after posting sharp losses on Tuesday. In North American trade, the spot price for one ounce of gold is $1226.78, down 0.08% on the day. On the release front, U.S housing numbers were...
British Pound Slips to 10-Month Low as CPI Misses Mark
The British pound continues to lose ground and has dropped perilously close to the symbolic 1.30 line. In Wednesday’s North American session, the pair is trading at 1.3044, down 0.53% on the day. On the release front, British CPI remained...
Blackstone’s new president Gray says China and US will eventually reach a trade deal
Blackstone’s Jonathan Gray is optimistic the trade conflict between the US and China will be resolved. “The US and China both recognize real risks to an escalated trade war,” he said at the Delivering Alpha Conference in New York on...
‘It’s a lot of money’ — Trump’s tariffs take a toll on farmers in Pennsylvania, a key state in the fight for Congress
Bill Beam has had no issue selling his soybeans this year. The Pennsylvania farmer has run into problems with price. Soybean futures prices have plunged more than 15 percent since China said in April that it would levy 25 percent...
US trade talks with Mexico making ‘good progress:’ Kudlow
The U.S. is making “good progress” in trade talks with Mexico, according to Larry Kudlow, the top White House economic advisor. Kudlow said without disclosing specifics: “I can report good progress with Mexico,” Kudlow said. Kudlow made the comment at...
Pension schemes prove shaky pillars for capital markets in CEE
Unfortunately, an ever-increasing weight of evidence from emerging Europe suggests that, however good the second-pillar idea may be in theory, it is never long before it bumps up against hard political realities. Hungary, the first country in the region to...
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