News
Federal regulators say employees at Wells Fargo created millions of fake bank accounts
Federal regulators say employees at Wells Fargo (NYSE:WFC) created millions of fake bank accounts and credit card numbers over the past five years in an illegal bid to boost their sales figures. The bank has […]
China’s consumer price inflation slowed to its weakest pace in almost a year in August
China’s consumer price inflation slowed to its weakest pace in almost a year in August, although an encouraging moderation in producer price deflation added to growing evidence of a steadying economy. The CPI climbed 1.3% […]
Goldman Sachs launches short-maturity Treasury ETF
Goldman Sachs Group has brought to NYSE Arca an exchange-traded fund that buys US Treasury maturing in one year or less. The Goldman Sachs Treasury Access 0-1 Year ETF tracks the Citi US Treasury 0-1 […]
Bundesbank official addresses fintech regulation
Disruptive financial technologies should receive the same regulatory treatment as banks, says Dirk Schrade of Deutsche Bundesbank. “I personally think that, as central banks, we should not be the driver of innovation,” he said. Risk.net […]
PBOC supports integrated financial services
China is committed to pressing ahead with the development of integrated financial services, said People’s Bank of China Deputy Governor Fan Yifei. The shift to integrated financial services is essential to make China’s financial system […]
BRICS bank, World Bank to co-finance projects
The presidents of the World Bank Group and the New Development Bank, commonly known as the BRICS bank, agreed to strengthen cooperation in meeting the world’s infrastructure needs. They said they will work together to […]
US wholesale sales plunge; inventory shows no growth
Wholesale-inventory investment posted its sharpest fall in six months for July, while inventory was flat, the US Commerce Department said. Despite reduced wholesale-level spending, some economists said inventory is likely dragging on the economy this […]
Monetary-policy anxiety hits Asian-Pacific markets
Asian-Pacific stock markets declined Monday as traders worried that central banks were about to tighten monetary policy. Japan’s Nikkei 225 declined 1.7%; Hong Kong’s Hang Seng Index dropped 3.4%; Australia’s S&P/ASX 200 fell 2.2%; China’s […]
EU-IMF debt dispute damaging Greece
Constant disagreements between the EU and the International Monetary Fund over Greece’s debt are blocking the country’s economic recovery, Greek Prime Minister Alexis Tsipras said. The EU and the IMF are at odds over how […]