Commerzbank Posts $3.3 Billion Fourth-Quarter Loss Amid Major Restructuring
Germany’s Commerzbank said on Thursday its net loss deepened to $3.3 billion in the fourth quarter, as the lender undergoes…
Category: Banking
Analysis: Merkel’s Vote Of Confidence In Deutsche Bank Belies Lender’s Problems
Angela Merkel will give a welcome speech at Deutsche Bank’s annual New Year reception on Thursday, marking a rare appearance…
Philippine Cbank keeps key Rate At Record Low, As Expected
The Philippine central bank left key interest rates steady on Thursday, as expected, saying current monetary policy settings were appropriate…
Mastercard To Open Up Network To Select Cryptocurrencies
Mastercard Inc said on Wednesday it was planning to offer support for some cryptocurrencies on its network this year, joining…
Manufacturers Lament Hardship, Demand Policy Review On Forex Allocation
Manufactures in Nigeria have asked the Central Bank of Nigeria (CBN) to review policies around the allocation of foreign exchange.…
European Markets Mixed As Traders Digest Earnings News; Maersk Down 7%
European stocks were mixed Wednesday as traders digested a slew of new corporate earnings. The pan-European Stoxx 600 hovered 0.2% above the…
Europol: 10 Held For Alleged $100m Cryptocurrency Theft From Celebs, Others
Europol, the European police agency, said on Wednesday it had assisted in the arrest of 10 hackers suspected of stealing…
Musk’s Bitcoin Bet Fuels Gains In Companies Already Invested
The Shares of companies that have invested in bitcoin have vastly outperformed on Wall Street in 2021 and are extending…
Goldman Sachs Boosts U.S. GDP Estimate, Sees COVID Relief At $1.5 Trillion
Economists at Goldman Sachs Group Inc on Monday bumped their U.S. GDP forecast for the second quarter up to 11%…
Banks Begin Closure Of Cryptocurrency Accounts
The cryptocurrency traders have commenced offline operations outside approved exchange platforms following the Central Bank of Nigeria (CBN) directive that banks…
Why Main Street banks Are Doing Better Than Wall Street Firms
If you are looking for another sign that the economy is rebounding and that average Americans are finally starting to…
Stocks, Oil Rise In Asia After U.S. Records, Dollar Weakens
Asian stock markets rose on Tuesday after a record-setting day on Wall Street, while bitcoin paused for breath after an…
Nigeria’s Security and Exchange Commission Recognises Cryptocurrencies, Moghalu Faults CBN Action
A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has faulted the recent action of the apex…
Why We Banned Cryptocurrency Trading In Nigeria – CBN
Transactions in cryptocurrencies are largely speculative, volatile and should be discouraged, the Central Bank of Nigeria (CBN) says. The apex…
Dollar Nurses Losses As U.S. Economic Doubts Undercut Rally
The dollar nursed losses against most currencies on Monday as disappointing U.S. jobs data caused some investors to scale back…
Asian Shares, Oil Buoyant On Economic Revival Hopes
Asian shares hovered near record highs on Monday while oil surpassed $60 a barrel on hopes a $1.9 trillion COVID-19…
SoftBank Posts Third-Quarter Profit Gain As Vision Fund Rallies
SoftBank Group Corp on Monday recorded an 844 billion yen ($8 billion) profit at its Vision Fund unit in the…
Which Central Banks Have The Biggest Footprint In FX?
With the dollar turning into a safe haven during the pandemic, risk appetite has become one of the most crucial…
Mortgage Refinancing Suddenly Surges, But Homebuyers Stall Due To Sticker Shock
Mortgage rates fell for the first time in nearly a month, and that lit a fire under current borrowers who…
These Workers Could See The Biggest Pay Bump From A $15 Federal Minimum Wage
Millions of workers in the U.S. could be in for a pay raise as Democrats move to pass a $15…
Dollar Strengthens On U.S. Economic Outlook; Euro Dips Below $1.20
The dollar strengthened to two-month highs against the euro and yen, after data pointed to an improvement in the U.S.…
Deutsche’s Trim Investment Bank Is Model For Peers
In recent years, the mere mention of Deutsche Bank’s wholesale business has been enough to elicit a titter from rival…
Investment Banking Boom Lands Deutsche Bank First Profit Since 2014
Deutsche Bank eked out a small annual profit in 2020, its first since 2014, saying on Thursday it had made…
Capital Market, Viable Funding Source For SMEs – Nigerian Stock Exchange
The Nigerian Stock Exchange has described the capital market as a viable source of funding for Small and Medium Enterprises,…
Stocks Shed N20Bn As Insurance Firms Lead Losers
Investors lost N20bn on Wednesday as the nation’s stock market extended its decline to the third consecutive trading session amid…
Alibaba Revenues Soar But Ant Group Float Uncertain
The company founded by Jack Ma saw revenues up 37% against the same quarter of 2019 to 221bn yuan ($34.2bn,…
Exclusive: Suspected Chinese Hackers Used SolarWinds Bug To Spy On U.S. Payroll Agency – Sources.
Suspected Chinese hackers exploited a flaw in software made by SolarWinds Corp to help break into U.S. government computers last…
US Treasury’s Yellen To Meet Regulators About GameStop Volatility
United States Treasury Secretary Janet Yellen is calling a meeting of top financial regulators this week to discuss market volatility…
How To Get The Most Covid Financial Relief When Filing Your Taxes This Year
No one likes doing their taxes. But there is very good reason for everyone to file a federal tax return this year,…