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US bank earnings in Q2 climbed 1.4 percent to $43.6B

This Wednesday, Aug. 17, 2016, photo, shows a Chase Bank branch in North Miami Beach, Fla. On Tuesday, Aug. 30, the Federal Deposit Insurance Corp. releases U.S. bank industry earnings for the second quarter. (AP Photo/Wilfredo Lee)WASHINGTON (AP) ? U.S. banks' earnings in the April-June period rose 1.4 percent from a year earlier as growth in lending fueled interest income.


Wall Street flat as investors look for clues on rates

A trader works on the floor of the NYSEFederal Reserve Chair Janet Yellen painted a rosy picture of the U.S. economy at an economic symposium on Friday and said the case for a rate hike was strengthening, but gave little indication on when the central bank could move. Fed Vice Chairman Stanley Fischer, in an interview with Bloomberg TV on Tuesday, said the U.S. job market is close to full strength and the pace of interest rate hikes will depend on how well the economy is doing.


Swiss central bank steps up stock buying spree

A man walks on the Federal Square in front of the Swiss National Bank in BernBy John Revill ZURICH (Reuters) - Switzerland's central bank now owns more publicly-traded shares in Facebook than Mark Zuckerberg, part of a mushrooming stock portfolio that is likely to grow yet further. The tech giant's founder and CEO has other ways to control his company: Zuckerberg holds most of his stake in a different class of stock. While most analysts think the strategy is sound, this does expose the SNB to stock market risks that the likes of the European Central Bank and U.S. Federal Reserve avoid.


Symbiont appoints Caitlin Long as chairman and president

Symbiont appoints Caitlin Long as chairman and presidentSymbiont, a technology firm perfecting the use of smart contracts and distributed ledgers in financial markets, has appointed Caitlin Long as president and chairman of the Board of Directors. Long will be responsible for commercialising Symbiont's market-leading blockchain technology, encompassing business strategy and client relationships, according to a statement. Long brings 22 years of experience on Wall Street to Symbiont, including her most recent post as managing director in global capital markets at Morgan Stanley.


Fed bets boost dollar, EU tax bill bites Apple

A worker shelters from the rain as he passes the London Stock Exchange in the City of LondonBy Marc Jones LONDON (Reuters) - U.S. interest rate rise expectations pushed the dollar up for a seventh time in eight days on Tuesday, while Wall Street dealers braced for a bruising session for Apple after it was hit by a record $14.5 billion European tax bill. The dollar hovered at a 2 1/2-week high against other top currencies ahead of U.S. trading as the overarching theme of interest rate moves helped Europe's banking and industrial stocks push the FTSEurofirst 300 higher. Fischer spoke again on Tuesday and repeated that U.S. employment is strong and that a "one and done" rate hike cycle is not something central banks like the Fed tend to engage in.


Scotiabank reports higher Q3 earnings, sets aside less money for bad loans

Scotiabankis the latest of the big banks to report higher profits in the third quarter, thanks to strong returns from all of its domestic and international banking operations. Scotiabankalso lowered the money it set aside for bad loans by $181 million from the second quarter to $571 million. Scotiabank also said it would raiseits quarterly dividend bytwo cents ashare to 74 cents.

Nifty hits 16-month high on positive earnings

Brokers trade at their computer terminals at a stock brokerage firm in MumbaiREUTERS - The NSE Nifty closed up 1.6 percent on Tuesday after earlier hitting its highest in 16 months as positive earnings results including from DLF Ltd lifted sentiment. The Nifty hit its highest since April 15, 2015 before ending 1.59 percent higher at 8,744.35. It was the index's biggest daily percentage gain since July 11. The benchmark BSE Sensex closed up 1.58 percent at 28,343.01 after earlier hitting its highest since July 23, 2015. (Reporting by Arnab Paul in Bengaluru; Editing by Amrutha Gayathri)


Most Asian stock markets gain amid doubts over US Fed rate increase

Most Asian stock markets gain amid doubts over US Fed rate increaseMost Asian stock market indices were trading higher on Tuesday (30 August) with the Shanghai Composite up 0.24% at 3,077.29 as of 5.52am GMT, following a positive overnight close on Wall Street amid doubts that the US Federal Reserve would increase interest rates next month. While Janet Yellen, the chairperson at the US central bank, said last week that the case for increasing interest rates had "strengthened in recent months", she failed to give a timeline on when the increase could take place. This would be the last major data release before the Fed's September meeting, having a bearing on the central bank's decision on interest rates.


 
 
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