Banks
Watch Christine Lagarde speak after the ECB ends its bond-buying program
[The stream is slated to start at 08:30 ET. Please refresh the page if you do not see a player above at that time.] European Central Bank President Christine Lagarde is giving a press conference after the bank’s latest monetary policy decision. The European Central Bank on Thursday confirmed its intention to hike interest rates […]
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‘The mood is very grim’: Once-hot fintech sector faces IPO delays and consolidation
Investment in fintech is slowing as worries around rising inflation and the prospect of higher interest rates have dented economic sentiment. Elena Noviello | Moment | Getty Images AMSTERDAM — Financial technology companies are putting IPO plans on hold and cutting expenses as fears of an impending recession cause a shift in how investors view […]
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HSBC shutters Hong Kong-based trade start-up Serai
An HSBC Holdings bank branch in Hong Kong on May 24, 2022. A Hong Kong-based trade platform launched by HSBC Holdings three years ago with much fanfare has shut down after failing to build a commercially viable business. Bertha Wang | Bloomberg | Getty Images A Hong Kong-based trade platform launched by HSBC Holdings three […]
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Crypto poses a threat to the safety of global payment systems, fintech boss warns
Starling CEO Anne Boden. Harry Murphy | Sportsfile for Web Summit via Getty Images AMSTERDAM — The boss of Goldman Sachs-backed digital bank Starling has doubled down on criticisms of crypto, calling digital currencies a threat to the safety of payment infrastructure. “It is very dangerous,” Anne Boden, who founded Starling in 2014, warned Tuesday […]
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Credit Suisse issues profit warning for second quarter, citing Ukraine war and rate hikes
A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse said on Wednesday that it is likely to post a loss for the second quarter as the war in Ukraine and monetary policy tightening […]
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Russia thinks it has found a way around Washington’s dollar bond payment blockade
Russian Finance Minister Anton Siluanov (seen here with Russian President Vladimir Putin in 2019) reportedly told Russian newspaper Vedomosti that Moscow will continue to service external debts in rubles, but foreign Eurobond holders will need to open ruble and hard currency accounts with Russian banks in order to receive payments. Mikhail Svetlov | Getty Images […]
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A paradigm shift has begun in markets, says Morgan Stanley’s Ted Pick. Here’s what to expect
Trader on the floor of the NYSE, June 1, 2022. Source: NYSE Global markets are in the beginning of a fundamental shift after a nearly 15-year period defined by low interest rates and cheap corporate debt, according to Morgan Stanley co-President Ted Pick. The transition from the economic conditions that followed the 2008 financial crisis […]
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‘Buy now, pay later’ loans make it tough to get a handle on your credit
Payment history often not reported BNPL companies generally don’t report to the credit-scoring companies when consumers use these loans. That makes it a challenge for a lender to know how many loans a consumer has outstanding. “That makes a big difference in terms of how much you should loan,” said Kenneth Lin, CEO of fintech […]
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After the crypto crash, here’s what industry experts are waiting for next
A visual representation of Bitcoin cryptocurrency. Edward Smith | Getty Images Cryptocurrency companies dominated the main street at the World Economic Forum in Davos this year, a notable difference between this edition and the last one in 2020. The high-profile presence from the industry came even as the cryptocurrency market crashed. It was sparked by […]
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Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine war
Jamie Dimon, CEO of JP Morgan Chase, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Adam Galica | CNBC JPMorgan Chase CEO Jamie Dimon says he is preparing the biggest U.S. bank for an economic hurricane on the horizon and advised investors to do the […]
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