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ECB approves emergency funding line for Greek banks - banking source

Wed, 21/01/2015 - 21:06
ATHENS (Reuters) - The European Central Bank has approved an emergency funding line for Greek banks to be provided via the country's central bank, a banking source told Reuters on Wednesday.

ECB set to decide on money printing plan

Wed, 21/01/2015 - 20:05
FRANKFURT (Reuters) - The European Central Bank's Executive Board has proposed a programme that would enable the ECB to buy 50 billion euros ($58 billion) in bonds per month starting in March, a euro zone source said on Wednesday.

Davos elite told British EU exit hinges on low-income women

Wed, 21/01/2015 - 20:00
DAVOS, Switzerland (Reuters) - A possible British vote on whether to quit the European Union may hinge on the votes of low-income women concerned about the family budget and their children's future, business leaders at the Davos World Economic Forum were told on Wednesday.

Brewing goliaths struggle to fit in at craft beer party

Wed, 21/01/2015 - 19:29
NEW YORK/BRUSSELS (Reuters) - At Top Hops on Manhattan's hip Lower East Side, drinkers can choose from 20 beers on tap from Dark Penance to Devil Dancer and over 600 more in bottles.

Slower, more sustainable growth good for China -central banker

Wed, 21/01/2015 - 18:24
DAVOS, Switzerland (Reuters) - Somewhat slower growth will allow a reformed Chinese economy to become more stable and should be good news, the head of China's central bank said on Wednesday.

Credit Suisse says trading results positive following SNB move

Wed, 21/01/2015 - 18:23
ZURICH (Reuters) - Credit Suisse said on Wednesday that it had not made losses trading foreign exchange after Switzerland's central bank suddenly abandoned a currency cap last week, causing a surge in the Swiss franc.

U.S. court says JPMorgan must live with $1.5 billion paperwork error

Wed, 21/01/2015 - 18:21
(Reuters) - JPMorgan Chase & Co got a painful reminder on Wednesday that we all have to live with our mistakes, even a clerical mix-up that could cost $1.5 billion.

Exclusive: Swiss franc move drove FX trade to record high - CLS

Wed, 21/01/2015 - 18:17
LONDON (Reuters) - Foreign exchange markets saw the largest ever number of deals in a single day after the shock removal of the Swiss National Bank's cap on the Swiss franc last week, the chief executive of settlement company CLS told Reuters on Wednesday.

Italy's Padoan says bank reform may help Monte Paschi

Wed, 21/01/2015 - 18:08
DAVOS, Switzerland (Reuters) - Italy's reforms of the cooperative bank sector should set off a wave of consolidation, opening up more access to capital and facilitating deals that could help other banks including Monte dei Paschi, Economy Minister Pier Carlo Padoan said on Wednesday.

OPEC, oil companies clash at Davos over price collapse

Wed, 21/01/2015 - 17:59
DAVOS, Switzerland (Reuters) - OPEC defended on Wednesday its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage as investments dry up.

Bank of England dissenters drop call for higher rates after inflation slump

Wed, 21/01/2015 - 17:58
LONDON (Reuters) - Two Bank of England policymakers have ditched their long-standing calls for an end to record-low interest rates in the face of tumbling inflation, prompting economists to again push back forecasts of when the BoE will start to tighten policy.

Bank of Canada makes shock rate cut on oil concerns

Wed, 21/01/2015 - 17:23
OTTAWA (Reuters) - In a shock move, the Bank of Canada cut its benchmark interest rate on Wednesday to counter the effects of cheaper oil on economic growth and inflation and help guard against the risks of a housing market downturn.

FTSE hits six-wk high on firmer oil shares, QE expectations

Wed, 21/01/2015 - 16:58
LONDON (Reuters) - Britain's blue-chip share index climbed to a six-week high on Wednesday, helped by a rally in energy stocks on the back of stronger oil prices and after a source said the ECB's executive board has proposed buying 50 billion euros in bonds every month.

Investors spy opportunity in Europe's cash pile as QE nears

Wed, 21/01/2015 - 16:12
LONDON (Reuters) - The ECB's widely-anticipated stimulus campaign to buy bonds and revive the flagging euro zone economy could open a sluice for more company cash to flow back to shareholders.

Lufthansa's Eurowings agrees new pay deal with pilots

Wed, 21/01/2015 - 12:19
FRANKFURT (Reuters) - Lufthansa's regional carrier Eurowings has agreed a five-year wage deal with its 300 pilots, it said on Wednesday, clearing a further hurdle as it seeks to settle industrial disputes with other pilots in the group.

ECB action could hurt banks' margins - Deutsche Bank co-CEO

Wed, 21/01/2015 - 11:32
(Reuters) - The European Central Bank's expected launch of a bond buying stimulus programme on Thursday will have a profound effect on banks in Europe and could destroy margins, the co-head of Deutsche Bank said.

IMF's Lagarde says euro zone exit would be 'devastating' for Greece

Tue, 20/01/2015 - 22:18
DUBLIN (Reuters) - An exit by Greece from the euro area would be devastating for the country, the head of the International Monetary Fund Christine Lagarde said on Tuesday.

Morgan Stanley to pay smaller proportion of revenue in bonuses

Tue, 20/01/2015 - 22:07
(Reuters) - Wall Street investment bank Morgan Stanley said it would pay a smaller portion of revenue in bonuses to its bankers and traders this year even in a better revenue environment.

S&P may pay $1.5 billion over mortgage ratings - source

Tue, 20/01/2015 - 21:08
NEW YORK (Reuters) - Standard and Poor's is in talks to pay as much as $1.5 billion to settle U.S. government lawsuits over mortgage ratings issued in the run-up to the 2008 financial crisis, a person familiar with the matter said on Tuesday.

Former JP Morgan dealmakers launch 'friendly' activist fund

Tue, 20/01/2015 - 20:32
(Reuters) - Two former JP Morgan Chase & Co dealmakers said on Tuesday they had launched an activist fund that aims to work collaboratively with the boards of companies it invests in, rather than confront them as most hedge funds do.