The Bank of Canada is expected to hold its key interest rate steady at 5.00% on Sept. 6 and stay at that level through at least the end of March 2024, according to a majority of economists in a Reuters poll, with a small but growing minority expecting one more rate rise.
UBS Group embarked on a sweeping plan to cut more than $10 billion in costs, saying on Thursday it will axe 3,000 jobs in Switzerland alone after it took over its stricken rival Credit Suisse.
A division of Goldman Sachs' transaction banking business (TxB) has stopped signing on riskier financial technology clients after a warning from the U.S. Federal Reserve over risk and compliance earlier this year, the Financial Times reported on Thursday.
Swedish payments group Klarna Bank reported on Thursday a much smaller six-month operating loss than a year earlier and said it had reached profitability on a monthly basis ahead of target.
Bank of Japan board member Toyoaki Nakamura said on Thursday it was premature to tighten monetary policy, as recent increases in inflation were mostly driven by higher import costs rather than wage gains.
Canadian Imperial Bank of Commerce (CIBC) missed analysts' estimates for quarterly profit on Thursday, hurt by higher loan-loss provisions to cover for consumers struggling to make their repayments in a tough economy.
A California judge is poised to decide if an online lender offering small loans at over 150% interest violates state law, which would deal a blow to finance companies that critics argue have skirted rate caps to profit from cash-strapped borrowers.
The U.S. District of Columbia Court of Appeals on Tuesday ruled that the Securities and Exchange Commission (SEC) was wrong to reject an application from crypto asset manager Grayscale Investments to list an exchange-traded fund that tracks the price of bitcoin, in a landmark decision.
Russia's No. 2 lender VTB still expects to earn 400 billion roubles ($4.21 billion) this year but this month's big central bank rate hike has trimmed any upside to that guidance, Chief Financial Officer Dmitry Pyanov said.
UBS expects around 1,000 jobs to go from integrating Credit Suisse's Swiss business, Credit Suisse (Schweiz), and an additional 2,000 redundancies in Switzerland over the next couple years, Chief Executive Sergio Ermotti said on Thursday.
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