Tag Archives: Banks

European bank shares tumbled on Friday in the wake of a dramatic sell-off in U.S. lenders as concern spread that the sector will be vulnerable to the rising cost of money. Europe’s STOXX banking index fell more than 4%, set for its biggest one-day slide since early June, with declines …

Lebanon’s struggling banks on Friday decided to suspend their strike, which started earlier this month, for one week after caretaker Prime Minister Najib Mikati asked them to do so. The Association of Banks in Lebanon did not give further details about the suspension. The strike began Feb. 7 in protest …

Some top US banks are preparing for an economic slowdown amid depressing forecasts of fourth-quarter profits, due to be released this week. “With most US economists forecasting either a recession or significant slowdown this year, banks will likely incorporate a more severe economic outlook,” wrote Morgan Stanley analysts, as cited …

Three of the largest U.S. banks said on Tuesday they had set aside a whopping $28 billion for loan losses, in a stark reminder that much of the economic pain from the coronavirus pandemic is still to come. Borrowers have been propped up by trillions of dollars in government and …

Qi.iQ Smart Card Company has won an award at the Global Event (International Finance Award 2019) as the Best Smart Card- Finance 2019 Iraq receives this award for the first time in its history, which is the result of a great national effort by an Iraqi electronic payment company which …

Many African Americans have difficulty accumulating savings in part because they lack access to mainstream financial services like banking, a new study on the contributing factors to the U.S. racial wealth gap by McKinsey & Co found on Tuesday. Many minorities in the United States depend on more expensive financial …

Swiss banking giant UBS has been fined €3.7bn (£3.2bn; $4.2bn) in a French tax fraud case. A court in Paris found that the bank had illegally helped French clients hide billions of euros from French tax authorities between 2004 and 2012. UBS said it had consistently contested any criminal wrongdoing …