Banks http://www.globalpost.com/taxonomy/term/24668/all en Hong Kong shares resume rally, China flat before economic data http://www.globalpost.com/dispatch/news/thomson-reuters/130109/hong-kong-shares-resume-rally-china-flat-economic-data <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Updates to close)</p> <p>* HSI +0.5 pct, H-shares +0.9 pct, CSI300 flat</p> <p>* BOC leads Chinese banking rise in HK after UBS upgrade</p> <p>* MGM China jumps after govt approves new casino</p> <p>* A-share market cheers reported China IPO overhaul</p> <p>By Clement Tan</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130109/hong-kong-shares-resume-rally-china-flat-economic-data" target="_blank">read more</a></p> Banks Economy of Hong Kong Hang Seng Index Constituent Stocks Thomson Reuters Wed, 09 Jan 2013 10:00:20 +0000 Thomson Reuters 5732021 at http://www.globalpost.com Hong Kong shares creep to new 19-1/2-mth high, China rebounds http://www.globalpost.com/dispatch/news/thomson-reuters/130118/hong-kong-shares-creep-new-19-12-mth-high-china-rebounds <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* HSI +0.8 pct, H-shares +1.6 pct, CSI300 +0.7 pct</p> <p>* China data slightly tops consensus, but volumes subdued</p> <p>* Growth-sensitive stocks lead gains</p> <p>* China railway slips in HK after disappointing 2013 budget</p> <p>By Clement Tan</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130118/hong-kong-shares-creep-new-19-12-mth-high-china-rebounds" target="_blank">read more</a></p> Banks Economy of Hong Kong Hang Seng Index Constituent Stocks Technology Thomson Reuters Fri, 18 Jan 2013 05:30:23 +0000 Thomson Reuters 5735953 at http://www.globalpost.com Virgin Money to launch own credit card arm after MBNA deal http://www.globalpost.com/dispatch/news/thomson-reuters/130118/virgin-money-launch-own-credit-card-arm-after-mbna-deal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Jan 18 (Reuters) - Virgin Money, the British financial group backed by Richard Branson, said on Friday it will launch a credit card business after buying 1 billion pounds ($1.6 billion) of assets from Bank of America's MBNA unit.</p> <p>The loans being bought are from the Virgin credit card portfolio which has been managed and serviced by MBNA since 2002 under a partnership agreement.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130118/virgin-money-launch-own-credit-card-arm-after-mbna-deal" target="_blank">read more</a></p> Banks Financial services Virgin Money Virgin Money Thomson Reuters Fri, 18 Jan 2013 15:30:42 +0000 Thomson Reuters 5736182 at http://www.globalpost.com UPDATE 6-Italy's Monti steps into Monte Paschi scandal http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-4-italys-monti-steps-monte-paschi-scandal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Monte Paschi derivative losses not regulatory oversight - Monti</p> <p>* Government ready to discuss issue in parliament - Monti</p> <p>* Monte Paschi says shocked by politicians exploiting crisis</p> <p>By Stephen Jewkes and Silvia Aloisi</p> <p>MILAN, Jan 24 (Reuters) - Italian Prime Minister Mario Monti weighed in on the scandal surrounding Banca Monte dei Paschi di Siena on Thursday, rejecting suggestions that the authorities had failed to spot large trading losses threatening the bank.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-4-italys-monti-steps-monte-paschi-scandal" target="_blank">read more</a></p> Banks Business Investment Monte dei Paschi di Siena Thomson Reuters Thu, 24 Jan 2013 19:15:03 +0000 Thomson Reuters 5738993 at http://www.globalpost.com Italy's Monti calls for investigation of Monte Paschi scandal http://www.globalpost.com/dispatch/news/thomson-reuters/130125/italys-monti-calls-investigation-monte-paschi-scandal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Monti says problems confined to historic Tuscan lender</p> <p>* Bank of Italy rejects criticism of supervision</p> <p>* Management under pressure at angry shareholder assembly</p> <p>By Silvia Aloisi and Stefano Bernabei</p> <p>SIENA, Italy, Jan 25 (Reuters) - Italian Prime Minister Mario Monti called on Friday for an immediate investigation of a widening scandal at Monte dei Paschi di Siena over the historic bank's losses of nearly $1 billion in a series of complex derivatives deals.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130125/italys-monti-calls-investigation-monte-paschi-scandal" target="_blank">read more</a></p> Banks Business Investment Monte dei Paschi di Siena Thomson Reuters Fri, 25 Jan 2013 11:30:33 +0000 Thomson Reuters 5739293 at http://www.globalpost.com UPDATE 2-Italy's Monte Paschi faces shareholder fury as scandal widens http://www.globalpost.com/dispatch/news/thomson-reuters/130125/update-1-italys-monte-paschi-faces-shareholder-fury-scandal-wid <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Shareholders blast "casino" management</p> <p>* PM Monti says problems confined to historic Tuscan lender</p> <p>* Bank of Italy rejects criticism of supervision</p> <p>* Management under pressure at angry shareholder assembly</p> <p>By Silvia Aloisi and Stefano Bernabei</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130125/update-1-italys-monte-paschi-faces-shareholder-fury-scandal-wid" target="_blank">read more</a></p> Banks Business Investment Labor Law Monte dei Paschi di Siena Monte Paschi Thomson Reuters Fri, 25 Jan 2013 15:30:31 +0000 Thomson Reuters 5739426 at http://www.globalpost.com UPDATE 2-Italy central bank approves Monte Paschi bailout request http://www.globalpost.com/dispatch/news/thomson-reuters/130126/update-1-bank-italy-board-meets-assess-monte-paschi-crisis <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Central bank okay clears final hurdle to state loans</p> <p>* Prosecutors reported to suspect Monte Paschi fraud, bribes</p> <p>* Bank of Italy under pressure over role as supervisor</p> <p>By Gavin Jones and Silvia Aloisi</p> <p>ROME/MILAN, Jan 26 (Reuters) - Italy's central bank on Saturday gave its approval to a request by scandal hit bank Monte dei Paschi di Siena for 3.9 billion euros ($5.3 billion) of state loans, the latest step in the battle to revive the ailing bank.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130126/update-1-bank-italy-board-meets-assess-monte-paschi-crisis" target="_blank">read more</a></p> Antonveneta bank Banks Business Financial services Investment Monte dei Paschi di Siena Thomson Reuters Sat, 26 Jan 2013 16:45:37 +0000 Thomson Reuters 5739881 at http://www.globalpost.com Scandal-hit Monte Paschi seeks new investor to revive bank http://www.globalpost.com/dispatch/news/thomson-reuters/130127/scandal-hit-monte-paschi-seeks-new-investor-revive-bank <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>MILAN, Jan 27 (Reuters) - Italian bank Monte dei Paschi di Siena is seeking a financial investor to help revive the ailing lender and will remove a current cap on voting rights to help raise 1 billion euros ($1.3 billion), its chairman said.</p> <p>"I would like to have a long-term financial investor," Alessandro Profumo told Italian business daily Il Sole 24 Ore in an interview published on Sunday. "Nationality is not a problem. The important thing is that it believes in our project".</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130127/scandal-hit-monte-paschi-seeks-new-investor-revive-bank" target="_blank">read more</a></p> bank Banks Business Investment Monte dei Paschi di Siena Thomson Reuters Sun, 27 Jan 2013 13:31:31 +0000 Thomson Reuters 5740082 at http://www.globalpost.com UPDATE 1-Monte Paschi seeks new investor as scandal deepens http://www.globalpost.com/dispatch/news/thomson-reuters/130127/update-1-monte-paschi-seeks-new-investor-scandal-deepens <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Monte Paschi chair pledges profits, say loans to be repaid</p> <p>* Political storm grows, with Democrat Party under fire</p> <p>* Northern League says state loans to bank must be blocked</p> <p>By Gavin Jones and Danilo Masoni</p> <p>ROME/MILAN, Jan 27 (Reuters) - Monte dei Paschi di Siena said on Sunday it was seeking a financial investor as the political storm over a derivatives scandal at the ailing bank intensified ahead of next month's Italian election.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130127/update-1-monte-paschi-seeks-new-investor-scandal-deepens" target="_blank">read more</a></p> Banks Business Economic history Financial services Thomson Reuters Sun, 27 Jan 2013 20:15:52 +0000 Thomson Reuters 5740240 at http://www.globalpost.com UPDATE 2-Myanmar debt deals clear way for new reform push http://www.globalpost.com/dispatch/news/thomson-reuters/130127/update-1-myanmar-gets-total-debt-relief-6-bln-aid-flows-set-ris <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Government says Paris Club deals worth $6 bln</p> <p>* Myanmar to stabilise economy, then seek "quick wins"</p> <p>* Japan helps it clear arrears to World Bank, ADB</p> <p>* Development banks now able to resume full lending</p> <p>* IMF also helping to craft economic policies (Recasts, adds more comments from government)</p> <p>By Martin Petty</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130127/update-1-myanmar-gets-total-debt-relief-6-bln-aid-flows-set-ris" target="_blank">read more</a></p> Banks Debt Economics Entertainment International economics Technology Thomson Reuters Mon, 28 Jan 2013 03:45:36 +0000 Thomson Reuters 5740334 at http://www.globalpost.com UPDATE 3-Italy's Monte Paschi finds no evidence of takeover bribes http://www.globalpost.com/dispatch/news/thomson-reuters/130128/update-1-monti-repeats-backing-bank-italy-over-monte-paschi <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* CEO Viola criticises former management, vital document not revealed</p> <p>* Says no need of more state aid after 3.9 bln euro package</p> <p>* PM Monti repeats confidence in Bank of Italy</p> <p>By Silvia Aloisi and Lisa Jucca</p> <p>MILAN, Jan 28 (Reuters) - Italy's troubled Monte dei Paschi bank said on Monday it had no evidence of bribery in a 2007 takeover now under scrutiny over alleged corruption, but acknowledged accounting irregularities over derivatives deals under previous management.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130128/update-1-monti-repeats-backing-bank-italy-over-monte-paschi" target="_blank">read more</a></p> Antonveneta Banks Business Economy of Italy Entertainment Italy Monte dei Paschi di Siena Monte Paschi Thomson Reuters Mon, 28 Jan 2013 09:30:40 +0000 Thomson Reuters 5740381 at http://www.globalpost.com ANALYSIS-Scandal of Italy's Monte Paschi means questions for Draghi http://www.globalpost.com/dispatch/news/thomson-reuters/130128/analysis-scandal-italys-monte-paschi-means-questions-draghi <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Bank of Italy internal report rapped Monte Paschi in 2010</p> <p>* ECB's Draghi was BOI chief during derivatives deals</p> <p>* Governor Visco defended BOI, but questions unanswered</p> <p>By Gavin Jones</p> <p>ROME, Jan 28 (Reuters) - Just as he prepares to take responsibility for regulating the banking system of the entire euro zone, Mario Draghi faces questions dating back to his leadership of the Bank of Italy over its oversight of the world's oldest bank.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130128/analysis-scandal-italys-monte-paschi-means-questions-draghi" target="_blank">read more</a></p> Banks Business Central bankers Investment Labor Law Mario Draghi Thomson Reuters Mon, 28 Jan 2013 19:00:11 +0000 Thomson Reuters 5740680 at http://www.globalpost.com Hong Kong shares to open down, ICBC falls after Goldman sale http://www.globalpost.com/dispatch/news/thomson-reuters/130128/hong-kong-shares-open-down-icbc-falls-after-goldman-sale <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>HONG KONG, Jan 29 (Reuters) - Hong Kong shares are set to start lower on Tuesday, dragged by a 2 percent slide for Industrial and Commercial Bank of China after Goldman Sachs sold a $1 billion stake in the mainland's largest lender.</p> <p>The Hang Seng Index was set to open down 0.1 percent at 23,659.1. The China Enterprises Index of the top Chinese listings in Hong Kong was indicated to start down 0.2 percent.</p> Banks Economy of Hong Kong Hang Seng Index Constituent Stocks Thomson Reuters Tue, 29 Jan 2013 01:45:20 +0000 Thomson Reuters 5740835 at http://www.globalpost.com Hong Kong shares steady as ICBC drags, property gains lift China http://www.globalpost.com/dispatch/news/thomson-reuters/130129/hong-kong-shares-steady-icbc-drags-property-gains-lift-china <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* HSI flat, H-shares -0.3 pct, CSI300 +0.4 pct</p> <p>* ICBC shares down after Goldman sells $1 bln stake</p> <p>* GOME drops after warning of 2012 net loss</p> <p>* Chinese property up on more reports of warming market</p> <p>By Clement Tan</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130129/hong-kong-shares-steady-icbc-drags-property-gains-lift-china" target="_blank">read more</a></p> Banks Business Economy of Hong Kong Hang Seng Index Constituent Stocks Thomson Reuters Tue, 29 Jan 2013 05:45:16 +0000 Thomson Reuters 5740866 at http://www.globalpost.com CORRECTED-Hong Kong shares close down 0.1 pct, ICBC drags after Goldman sale http://www.globalpost.com/dispatch/news/thomson-reuters/130129/hong-kong-shares-close-down-01-pct-icbc-drags-after-goldman-sal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Corrects GOME price change in 2nd bullet to rise 1.1 pct, not fall)</p> <p>HONG KONG, Jan 29 (Reuters) - Hong Kong shares slipped from Monday's 20-month closing high, underperforming Asian peers largely due to a weak Chinese banking sector after Goldman Sachs sold a $1 billion stake in Industrial and Commercial Bank of China (ICBC).</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130129/hong-kong-shares-close-down-01-pct-icbc-drags-after-goldman-sal" target="_blank">read more</a></p> Banks Economy of Hong Kong Hang Seng Index Constituent Stocks Thomson Reuters Tue, 29 Jan 2013 08:30:04 +0000 Thomson Reuters 5740893 at http://www.globalpost.com