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Financial Service News

Financial Services news continually updated from thousands of sources around the net.

29 min ago | Centre Daily Times

U.S. economy grows at scorching 4 percent in 2nd quarter

Offsetting a dismal start to the year, the economy grew at a sizzling rate in the second quarter, powered by what the Bureau of Economic Analysis said were improvements in personal consumption, exports and businesses replenishing their inventories.

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Related Topix: Pnc Financial Services GroupThe, Banking

4 hrs ago | Sunherald.com

Ratings agency: Argentina in 'selective default'

In this Friday, July 25, 2014 photo, pedestrians walk past a branch of the Industrial and Commercial Bank of China, a target for anti-capitalist agitation ever since a 1927 anarchist bombing of what was then a Bank of Boston, in Buenos Aires, Argentina.

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Related Topix: Independence Community Bank, Banking, Argentina, World News, Financial Markets

6 hrs ago | Reuters

Bank of America ordered to pay $1.27 bln for Countrywide fraud

U.S. District Judge Jed Rakoff in Manhattan ruled nine months after jurors found Bank of America and former Countrywide executive Rebecca Mairone liable for defrauding government-controlled mortgage companies Fannie Mae , and used her maiden name of Rebecca Steele.

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Related Topix: Banking, Bank of America, Home, Mortgage, Personal Finance, North Carolina

10 hrs ago | Cybercast News Service

No2 Irish bank profitable for 1st time since 2008

Ireland's second-largest bank, Allied Irish Banks, has returned to profit for the first time since a 2008 property crash pushed the nation to the brink of bankruptcy.

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Related Topix: Allied Irish Banks plc

13 hrs ago | Burnley Citizen

Burnley and Pendle Citizen: Antony Jenkins said the move was "a good idea in principle"

The Bank of England's plans to claw back rule-breaking bankers' bonuses up to seven years after they are awarded are a good idea in principle, the boss of Barclays has said.

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Related Topix: Lancashire County, England, United Kingdom, Lloyds TSB Group

17 hrs ago | Lexington Herald-Leader

Bank scandal tarnishes powerful Portuguese family

Now, one of Europe's last banking dynasties is being stripped of its wealth and influence amid accounting irregularities, huge unreported debts, and a police investigation.

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Related Topix: Espirito Santo Financial Group SA, World News, Brazil, Economics News, Bankruptcy

Tue Jul 29, 2014

Business Journal

Tech, customer interface crucial for banks, KPMG study says

Senior bank executives are focused on improving customer experience as the industry faces intensified pressure from non-traditional competitors, according to a new survey by KPMG LLP.

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Related Topix: Accounting, KPMG L.L.P

West Australian

AmEx profit rises 9 percent as card holders spend more

American Express Co reported a 9 percent rise in quarterly profit that matched analysts' estimates as more customers used its credit cards in a recovering U.S. economy.

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Related Topix: Travelers Express Company, MasterCard

KING-TV Seattle

American Express 2Q profit rises 9 percent

American Express Co. on Tuesday reported earnings that rose by 9 percent in its second quarter, and topped analysts' expectations.

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Related Topix: Travelers Express Company, Seattle, WA

The Miami Herald

American Express 2Q profit rises 9 percent

In this July 19, 2011 file photo, passers-by walk past an American Express logo near the entrance to a bank in the Harvard Square neighborhood of Cambridge, Mass.

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Related Topix: Travelers Express Company

Reuters

Institutions shift to exchange-traded funds as futures grow costly

Institutional investors, like endowments and sovereign wealth funds, are trading some of their stock futures contracts for exchange-traded funds, an action they say saves them money and effort while providing comparable returns.

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Related Topix: BlackRock, Investment Services, Financial Markets, San Mateo County, CA, Menlo Park, CA

NewsOK.com

TD Ameritrade building earns efficiency award

You now have an easier online to way to manage your Home Delivery subscription for The Oklahoman.

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Related Topix: TD Ameritrade, Ameritrade Holding, Investment Services

KTVN Reno

Swiss bank UBS reports 2Q net profit jump

A man who was imprisoned 21 years for a rape and murder he didn't commit is set to testify at a first-ever Connecticut hearing to determine how much he should be compensated.

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Related Topix: Banking, Ubs Ag

Cybercast News Service

Deutsche Bank posts 29 percent net profit drop

Deutsche Bank AG posted a 29 percent drop in second-quarter net profit Tuesday, hit by what it described as higher taxes, declining revenue and political instability affecting the markets.

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Related Topix: Banking, Deutsche Bank AG

Mon Jul 28, 2014

ABC News

Swiss Bank UBS Reports 2Q Net Profit Jump

Swiss banking giant UBS AG reported a 15 percent jump Tuesday in second-quarter net profit compared to a year ago, driven by strong results from its core wealth management and trimmed-down investment banking franchises despite a tough market environment.

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Related Topix: Banking, Ubs Ag, UBS Investment Bank, Investment Banking, UBS Financial Services, Investment Services

EKathimerini

Greece wants ECB stress tests to factor in banks' restructuring plans, source says

Greece wants the European Central Bank's health checks on its four biggest banks later this year to take account of their new restructuring plans rather than being based on last year's balance sheet data alone, a Greek finance ministry official said on Monday.

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Related Topix: European Central Bank, Banking

The Washington Post

BlackRock's Old Chevy ETF Proves Irreplaceable for Traders

Why tote around a first-generation iPhone when you have a 5s at home? Or drive a beat-up old Chevy when there's a new Corvette in the garage? In the world of exchange-traded funds, that's just what investors are doing.

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Related Topix: BlackRock, Investment Services, RiskMetrics, MSCI, Charles Schwab, Jersey City, NJ

Sunherald.com

Lloyds bank settles with US, UK over market fixing

Lloyds, one of the world's largest banks, on Monday became the sixth financial firm sanctioned in the international rate-rigging scandal.

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Related Topix: Lloyds TSB Group, Mortgage, Personal Finance, Home

Brandon Sun

Lloyds bank to pay $400 million to settle with US, British regulators over market rigging

Lloyds Banking Group says it will pay 218 million pounds to U.S. and British authorities to settle allegations it manipulated benchmark interest rates.

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Related Topix: Lloyds TSB Group

Brandon Sun

Majority say health will be biggest retirement expense: BMO poll

The Bank of Montreal report, titled "Living to 100: The Four Keys to Longevity," found that 74 per cent of those recently polled foresee medical costs as their biggest expense in their senior years.

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Related Topix: Bank of Montreal, Banking, Long Term Care, Health, North America, Canada, World News

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