Banking Sector
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Updated: 45 weeks 6 days ago

CBN Indicates the Real Sector Special Funding Plan is Still Alive

Mon, 03/28/2016 - 09:01

CBN Indicates the Real Sector Special Funding Plan is Still Alive

Last week, speculations said that Central Bank of Nigeria (CBN) might technically abandon its plan of funding approximately N760 billion into the real sector special credit facility. But the plan seems to be still alive.

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Wells Fargo & Co gets an Average “Strong Buy” Rating from Equity Analysts

Mon, 03/21/2016 - 08:49

Wells Fargo & Co gets an Average “Strong Buy” Rating from Equity Analysts

San Francisco, California based Wells Fargo & Company is a bank holding company with three operating segments. It provides banking, retail, mortgage, commercial and corporate banking services via different channels to individuals as well as businesses in all fifty state in the U. S, the District of Columbia along with other countries.

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Tencent Holdings Ltd Reports Boost in Quarterly Sales; Shares Climb

Fri, 03/18/2016 - 08:59

Tencent Holdings Ltd Reports Boost in Quarterly Sales; Shares Climb

Tencent Holdings Ltd., the Chinese investment holding company touched its highest in about nine months helped by investments in social networking and games.

The biggest Internet company in Asia, posted a 45 percent jump in quarterly sales surpassing expectation. Tencent has been developing its content in order to attract users to its most recent smartphone games. Not only that; the company based in Shenzhen, China, is also driving the growth in advertisement on social networks.

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Goldman Sachs Acquiring Austin based Honest Dollar Inc

Tue, 03/15/2016 - 08:55

Goldman Sachs Acquiring Austin based Honest Dollar Inc

Goldman Sachs Group Inc. is acquiring Austin based Honest Dollar Inc. that offers retirement services to those workers who do not have access to employer-based plans.

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H&R Block Dropped 17.7 Percent Last Week

Mon, 03/07/2016 - 07:51

H&R Block Dropped 17.7 Percent Last Week

Last week, the H&R Block dropped 17.7 percent and in the last four weeks it has dropped 20.64 percent.

H&R Block has underperformed the S&P 500 index by 25.4 percent in the last four weeks. Investors are cautioned to move carefully and must watch out for further signals before trading.

H&R Block Inc. confirmed $0.2 per share dividend disbursement to shareholders.

The H&R Block stock has recorded a Twenty Day Moving Average of 17.92 percent. Its Fifty Day Moving Average is 16.63percent.

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U.S. Watchdog Getting Ready to probe Federal Reserve’s Lax Oversight of Wall Street’s Financial Institutions

Sat, 03/05/2016 - 09:09

U.S. Watchdog Getting Ready to probe Federal Reserve’s Lax Oversight of Wall Street’s Financial InstitutionsReportedly, a United States watchdog agency is planning to investigate if the U. S. Federal Reserve has been slack in supervising the banks which it is meant to monitor.

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Yahoo’s Board considering Possible Sale of the Business, Hires Three Investment Banking Firms

Sat, 02/20/2016 - 09:03

Yahoo’s Board considering Possible Sale of the Business, Hires Three Investment

No matter how hard, Yahoo's CEO Marissa Mayer tried to boost the company's profits nothing seemed to work for long and pressure from the frustrated shareholders kept growing. Stock prices of the company have dropped rapidly and investors are now pushing for sale of the Internet operations.

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JPMorgan CEO Jamie Dimon Acquires Stocks Worth $26.6 Million of His Own Company

Mon, 02/15/2016 - 11:35

JPMorgan CEO Jamie Dimon Acquires Stocks Worth $26.6 Million of His Own CompanyReportedly, Jamie Dimon, the Chairman and CEO of JPMorgan Chase bought worth $26.6 million shares of his own bank. That might indicate his confidence in the bank although stocks have dropped to lower than they were about two years back.

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Justice Department says HSBC has Reaches $470M Agreement with Federal Government and States, Related to Banking Abuses

Sat, 02/06/2016 - 08:54

Justice Department says HSBC has Reaches $470M Agreement with Federal Government

On Friday, in an announcement the Justice Department said that HSBC has agreed to $470 million settlement with the federal government along with almost all states related to issues of mortgage lending and foreclosure abuses which the officials opine aided in deepening the financial crisis in the country almost eight years ago.

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Top Fed Official says Slower Rate Hikes could be on the Cards Due to Weaker Global Economic Growth

Sat, 01/30/2016 - 07:02

Top Fed Official says Slower Rate Hikes could be on the Cards Due to Weaker Glob

On Friday, one of the top Federal Reserve official suggested that the central bank probably requires keeping the key interest rates lower for a longer time due to a weaker economic growth globally, the dollar weighing stronger vs. a basket of other currencies and an unexpectedly longer duration of low oil prices.

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Citigroup Reports Biggest Full Year Profit in Almost a Decade

Sat, 01/16/2016 - 08:54

Citigroup Reports Biggest Full Year Profit in Almost a Decade

On Friday, Citigroup Inc. reported its largest full-year earnings in almost ten years. That shows that the strategy of the firm to get leaner is working to its advantage.

However, shares of Citigroup dipped 6.4 percent which is a bigger drop compared to other banks or considerable size and also the wider market. Drop in oil prices and slowing economy in China has not worked well for financial institutions in the past year. Compared to its contemporaries, Citigroup has greater exposure in international markets which also includes Asia.

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Brazil’s Central Bank Plans to Take Action as 2015 Inflation Rate Surpasses Target

Sat, 01/09/2016 - 08:51

Brazil’s Central Bank Plans to Take Action as 2015 Inflation Rate Surpasses TargetBrazil's inflation rate grew at a rate beyond the government's expectations for 2015. It was at its highest level compared to figures noted in almost last twelve years.

The more than ten percent rate is an indication for the government to take action to control prices in spite of growing recession.

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Central Bank of Nigeria Says the Country’s Foreign Reserves Dropped to U.S. $29.13 Billion

Sat, 01/02/2016 - 08:04

Central Bank of Nigeria Says the Country’s Foreign Reserves Dropped to U.S. $29.13 BillionOn Thursday, the Central Bank of Nigeria said that the foreign exchange reserves in the country dropped to 29.13 billion dollars on December 29.

On its website, the bank said that the drop in reserves represented 2.43 percent from $29.31 billion which was recorded on December 23.

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Adam Siegel Former- RBS Bond Trader Pleads Guilty

Tue, 12/22/2015 - 08:27

Adam Siegel Former- RBS Bond Trader Pleads GuiltyOn Monday, Adam Siegel a thirty seven year old bond trader pleaded guilty of conspiring to deceive the customers Royal Bank of Scotland Group Plc by misrepresenting the prices of bond transactions which he and some others handled for them. This was an effort to spike up the profits for the bank.

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