The U.S. central bank will move to reduce borrowing costs as soon as next month to cushion the world's biggest economy from the impact of the coronavirus, traders of futures contracts tied to the Federal Reserve's policy rate are now betting.
A surge in small-cap Chinese stocks, fueled by government stimulus measures to support the virus-hit economy, is triggering fears of a repeat of the boom that preceded the 2015 market crash.
A surge in small-cap Chinese stocks, fueled by government stimulus measures to support the virus-hit economy, is triggering fears of a repeat of the boom that preceded the 2015 market crash.
The International Monetary Fund said on Wednesday it had secured sufficient financing to provide $334 million in debt relief to Somalia, a milestone the bank said brought it one step closer to a decision on forgiveness of most of Somalia's $5.3 billion in debt. Over 100 IMF member countries had pledged the financing, the lender said in a statement.
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh. * Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv. By Olga Cotaga. The pound fell on Wednesday as expectations grew the Bank of England would cut interest rates, but it remained near its high for February on optimism that loose fiscal policy would boost Britain's economy.
A contingent of aggrieved Wells Fargo &
Co (WFC) workers are taking complaints to Capitol Hill, saying they feel brushed aside by management. On March 25, an advocacy group called The Committee for Better Banks will participate in a House Financial Services Committee hearing titled "Holding Wells Fargo Accountable: Examining the Impact of the Bank's Toxic Culture on Its Employees."
All of the Federal Reserve's 12 regional banks wanted to keep unchanged the rate commercial banks are charged for emergency loans ahead of the U.S. central bank's last policy meeting, minutes from the discussion of the discount rate showed on Tuesday.
JPMorgan Chase & Co (JPM) executives tried to reassure investors on Tuesday that the bank can thrive during times of market and economic stress, due to the sheer size and breadth of its global operations.
JPMorgan Chase & Co (JPM) is putting more cash into overnight lending markets and holding less for a rainy day, after discussing the matter with regulators, the bank's finance chief said on Tuesday.
The powerful Shi'ite group Hezbollah is against allowing the Innternational Monetary Fund to manage Lebanon's financial crisis but does not oppose Lebanon seeking the IMF's advice, the group's deputy leader said on Tuesday.
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