showing 1 - 10 of 111 news
Since the banking failure in 2008 government has been analyzing the options to regulate and reform banking practices. These regulations will come into force next year and banks are preparing and considering their options whilst also trying to second guess possible regulations.
Many investors and analysts are really looking to Korea and Taiwan for growth and development while they benefit from the growth in the global market. The equity market is not sharing in that optimism and Japan may be a contributing factor.
Spain has been receiving valuable advice from the IMF. Spain is working hard to recover from its difficult phase when the country’s bank reported economic problems. Spain joined a group of European countries suffering a period of extended losses and a real estate market hurting from the downturn, caused the bank to request a €41.3 billion to protect the country from economic collapse. Spain is experiencing a favorable increase in share prices and could have to pay out high dividends.
As part of the ongoing legal procedure between JPMorgan Chase the bank has been working with regulators and agencies and most recently 21 institutional investors. This chapter has come to a close with JPMorgan Chase agreed to pay $4.5 billion to this group of institutions. This resolves the claim of these intuitions that they received bad mortgage securities. It covers a number of mortgage bond trusts between 2005 and 2008. JPMorgan mentioned that this agreement still required approval trustees and may require the courts approval.
The European Central Bank slashed its benchmark interest rates by 50% bringing the rates to a record level of 0.25%. Peru stepped in to cut its rates, the first time doing so in four years. The Czech Central Bank also took steps to protect the currency market. The Reserve bank of Australia provided the opportunity for easier and cheaper borrowing due to under performing economic growth.
America’s addiction for gas is not news and this year has showed signs there love for it is not waning. In light of prices at gas stations set lower price levels for the year people are extremely optimistic. The Average is $3.25 a gallon but 70% of America seeing even bigger savings with many places posting gas for under $3.
HSBC is the largest bank operating in Europe. It reported recently 30% increase in pretax profits from $3.48 billion to $4.53 billion those figures fell short of the $5.54 billion estimated from 10 analysts collected by Bloomberg. The increases are mostly due to the banks managing and reducing its costs as well as focusing on profitable markets.
JPMorgan Chase and the U.S. Justice Department having been working hard to put the final details to the $13 billion settlement but there seems to be some points causing a block in the settlement's completion.
The final issues are over the mistakes made by Washington Mutual which was acquired by JPMorgan Chase during the banking fiasco in 2008.
A recent survey highlighting trends in consumer confidence shows positive trends in developed markets. The United States and Europe showed signs of trends returning to normal but emerging markets still are recovering from their shaky economy.
The report was produced by Nielson, a global information company. Measuring job prospects, personal finance and spending intentions returned positive indicators in established markets while emerging markets where holding steady.
The last month 148000 jobs were added. This was in fact below the average gains the US has seem in the beginning of the year. A Survey from Households saw unemployment lower its ugly head to 7.2 %