banks

Swiss central bank hikes interest rate as inflation pressures hit hard

Swiss central bank hikes interest rate as inflation pressures hit hard

Swiss National Bank (SNB), the central bank of Switzerland. FABRICE COFRINI | AFP | Getty Images The Swiss National Bank on Thursday raised its benchmark interest rate to 0.5%, a shift that brings an end to an era of negative rates in Europe. The 75 basis point hike follows an increase to -0.25% on June …

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Jamie Dimon, bank CEOs grilled by lawmakers over inflation

In what has become an annual ritual, the CEOs of the major US banks appeared in front of Congress on Wednesday to sell themselves as shepherds of a helpful industry at a time of financial and economic distress for many Americans. Democrats called JPMorgan Chase, Bank of America, Wells Fargo and Citigroup to Washington to …

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JPMorgan (JPM) fintech deal to acquire Renovite to battle Stripe and Block

The main entrance at JPMorgan’s headquarters in New York City. Erik McGregor | LightRocket | Getty Images JPMorgan Chase has agreed to acquire a payments startup called Renovite to fend off threats from fintech firms including Stripe and Block , CNBC has learned. The bank, a major player in the global payments arena, said that …

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How to Choose Between a 15-Year and 30-Year Mortgage

One of the most important parts of taking on a mortgage to buy a house is making sure the terms of the loan best suit your financial needs. Not only does this involve securing the lowest interest rate possible, it also means choosing the right mortgage term. The mortgage term tells you how much time …

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European markets move higher after record ECB rate hike; BoE postponed meeting

Bank of England delays policy meeting following queen’s death The Bank of England on Friday said it would postpone its September Monetary Policy Committee meeting by one week following the death of Queen Elizabeth II. The UK is in a period of national mourning after the passing of the queen, Britain’s longest-serving monarch, who died …

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Citigroup wins appeal over mistaken Revlon wire transfer

A ‘Citi’ sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City. Mario Tama | Getty Images A US appeals court on Thursday ruled in favor of Citigroup Inc in the bank’s effort to recoup about $500 million of its own money that it accidentally wired …

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New Fed banking chief targeting crypto and climate change as top priorities

President Joe Biden will nominate Michael Barr to be the Federal Reserve’s ball regulator in charge of big banks. Barr, who served as assistant Treasury secretary for financial institutions during the Obama administration, seen here at a Treasury Department meeting in Washington, DC on Nov. 30, 2010. Andrew Harrer | Bloomberg | Getty Images The …

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Deutsche Bank CEO warns of recession, says Germany must cut China reliance

Christian Sewing, Chief Executive Officer of Deutsche Bank, has acknowledged that a recession in Germany is inevitable, and urged leaders to accelerate its decoupling from China. Denis Balibouse | Reuters Deutsche Bank CEO Christian Sewing warned Wednesday that a recession in Germany is inevitable, and urged the country’s leaders to accelerate its decoupling from China. …

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Coddled Wall Streeters in for a rude back-to-the-office awakening

Coddled Wall Streeters in for a rude back-to-the-office awakening The most coddled generation that Wall Street has ever encountered is about to find out what it means to really go to work. That is the word coming from the C-suites of the Big Banks — Morgan Stanley, JP Morgan and Goldman Sachs. The CEOs of …

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Jefferies CEO pushes return to office over ‘lonely home silos’

Jefferies CEO pushes return to office over ‘lonely home silos’ The boss of a top Wall Street financial firm pressed his workers on Thursday to leave their “lonely home silos” and return to the office — joining other major banks in pushing staff to return to their desks full-time after Labor Day. Jefferies CEO Richard …

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