Latest news with #bigbanks
Bloomberg
2 days ago
- Business
- Bloomberg
FDIC Scraps Public Meeting on Changes to Key Bank Capital Rule
The Federal Deposit Insurance Corp. decided to handle Thursday's board meeting on a key capital rule 'notationally,' according to a statement, after previously saying it would be open to the public. The FDIC announced last week that its public meeting would focus on modifying a rule that big banks have said limits their ability to act as intermediaries in the $29 trillion Treasuries market. A video feed for the meeting cut out shortly after it was set to begin, and the agency later sent a statement that didn't provide a reason for the change.
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Big Banks, Worried About Being Trump's Next Target, Race to Appease Republicans
Big banks are trying to get out of the crosshairs of Republican states that are cracking down on companies for 'woke' policies that conservative policymakers say are illegal and discriminatory. Representatives from JPMorgan Chase JPM 1.19%increase; green up pointing triangle, Citigroup C 1.16%increase; green up pointing triangle, Wells Fargo WFC 2.14%increase; green up pointing triangle and other big banks met in recent weeks with officials in states including Texas and Oklahoma to defend against allegations that they refuse to do business with industries such as gun manufacturing and fossil-fuel extraction, people familiar with the discussions said.
ABC News
11-06-2025
- Business
- ABC News
Emily Stewart
With the end of the financial year approaching, tax agents say it is a good time to look at maximising your super, which might provide some tax benefits too. 4h ago 4 hours ago Wed 11 Jun 2025 at 12:03am Australian stocks opened higher after Wall Street gained. Economic growth slowed more than forecast in the first quarter of the year. Wed 4 Jun Wed 4 Jun Wed 4 Jun 2025 at 6:27am Consumer prices rose 2.4 per cent for the year to April, according to the Australian Bureau of Statistics. It is the third month in a row that headline inflation rate has remained steady. Wed 28 May Wed 28 May Wed 28 May 2025 at 4:17am The big banks have all cut their variable home loan rates, but not everyone will want to reduce their mortgage repayments. Savers are still in the dark, with only two lenders announcing cuts to savings rates. Here's your handy guide to what the RBA cut means for you. Sun 25 May Sun 25 May Sun 25 May 2025 at 11:34pm Markets are betting on further cuts to the cash rate to come, after the Reserve Bank cut interest rates by 0.25 of a percentage point, to 3.85 per cent. Tue 20 May Tue 20 May Tue 20 May 2025 at 7:30am Lenders are cutting fixed and variable rates in an attempt to attract customers ahead of a widely anticipated Reserve Bank meeting next week, when the official cash rate is expected to be cut. Wed 14 May Wed 14 May Wed 14 May 2025 at 6:55pm The ASX closed up after the US and China confirmed they will hold negotiations this week in an attempt to scale back their trade war. National Australia Bank's half-year profit drops 2.5 per cent. Catch up on the day's events and insights from our business reporters on the ABC News live markets blog. Wed 7 May Wed 7 May Wed 7 May 2025 at 6:47am Local shares slipped backwards on Tuesday, while data showed building approvals fell by 8.8 per cent in March. Catch up on the day's events and insights from our business reporters on the ABC News live markets blog. Tue 6 May Tue 6 May Tue 6 May 2025 at 7:12am Australian shares give back most of the previous session's gains, with the All Ords dropping 1.9pc as China reacts to Donald Trump's tariffs coming into force. Wed 9 Apr Wed 9 Apr Wed 9 Apr 2025 at 7:34am Australian shares have risen 2.3 per cent as markets across Asia have clawed back some ground after sessions of heavy selling. Japan is leading the gains as it prepares to negotiate with the Trump administration. Tue 8 Apr Tue 8 Apr Tue 8 Apr 2025 at 7:33am The Australian share market closed in positive territory ahead of US President Donald Trump's next round of tariffs. Look back on the day's business news on our blog. Wed 2 Apr Wed 2 Apr Wed 2 Apr 2025 at 6:04am Australia's inflation declined to 2.4 per cent in February, ahead of the RBA's rate meeting in April, helping the ASX to close higher. Catch up on the day's financial news and insights from our specialist business reporters on our live blog. Wed 26 Mar Wed 26 Mar Wed 26 Mar 2025 at 6:28am Samsung Electronics' co-CEO dies of cardiac arrest, with no successor named, while Chinese electric vehicle maker BYD posts a larger annual revenue than Tesla. Look back on the day's financial news and insights from our specialist business reporters. Tue 25 Mar Tue 25 Mar Tue 25 Mar 2025 at 5:37am Reducing the time people spend job hunting has a broader economic benefit, with a report finding one charity helping women into the workforce has generated $86 million in net direct economic benefits over the past 20 years. Wed 19 Mar Wed 19 Mar Wed 19 Mar 2025 at 9:01pm Australia's share market has closed on a seven-month low and it now sits 8.4 per cent below the all-time high it reached in mid-February, as global investors consider the potential damage of US President Donald Trump's various trade wars. Tue 11 Mar Tue 11 Mar Tue 11 Mar 2025 at 6:38am When the Reserve Bank cut the official cash rate last month, lenders reacted quickly, letting customers know home loan rates were dropping. But they've been slower to explain how the changes will affect savings rates. Here's what it could mean for you. Thu 6 Mar Thu 6 Mar Thu 6 Mar 2025 at 11:14pm Australian shares fall, with results from Woolworths, WiseTech, Lynas and Flight Centre. US President Donald Trump has ordered an investigation into a new tariff on copper imports. Wed 26 Feb Wed 26 Feb Wed 26 Feb 2025 at 6:14am The Reserve Bank cut interest rates on Tuesday afternoon for the first time since November 2020, after keeping rates on hold at 4.35 per cent for more than a year. Tue 18 Feb Tue 18 Feb Tue 18 Feb 2025 at 7:11am There could soon be relief for households with a mortgage, with economists predicting an interest rate cut when the Reserve Bank board meets in February. If rates do fall, it will be the first time since 2020. So, what could it mean for your repayments? Wed 5 Feb Wed 5 Feb Wed 5 Feb 2025 at 10:43pm The ASX ends the week lower following Wall Street jitters. The former PwC Australia partner at the heart of the tax leaks scandal, Peter Collins, has been banned from providing financial services by Australia's corporate watchdog. This is how the day unfolded. Fri 20 Oct Fri 20 Oct Fri 20 Oct 2023 at 6:00am The ASX gained on strong rises for Whitehaven Coal and Treasury Wine Estates, while Credit Corp plunged on a profit warning. This was how the trading day unfolded on our blog. Wed 18 Oct Wed 18 Oct Wed 18 Oct 2023 at 6:02am The competition between mortgage lenders to get your business could soon be heating up again, analysts say, as the nation's largest lender loses market share for the first time in five years. Mon 16 Oct Mon 16 Oct Mon 16 Oct 2023 at 11:47pm Australia's share market closes up after Wall Street's major indexes closed higher overnight. Tue 10 Oct Tue 10 Oct Tue 10 Oct 2023 at 6:00am Thousands of Australians opted to do their grocery shopping online during the pandemic, but plenty are yet to return to shopping in store as they try to get the most bang for their buck amid the high cost of living. Tue 3 Oct Tue 3 Oct Tue 3 Oct 2023 at 9:00pm The annual rate of inflation jumped to 5.2 per cent in August, up from 4.9 per cent, on rising housing, transport, food, and insurance costs. Wed 27 Sep Wed 27 Sep Wed 27 Sep 2023 at 10:14am
Bloomberg
29-05-2025
- Business
- Bloomberg
Eric Trump Says He'd Love to See Some Big Banks ‘Go Extinct'
Eric Trump told attendees at a cryptocurrency conference that he wants some big banks to 'go extinct,' echoing complaints from other members of the Trump family about the traditional financial system. 'Honestly, I would love to see some of the big banks go extinct, because, honestly, they deserve it,' Trump said Wednesday while speaking on a panel with his brother, Donald Trump Jr., at the Bitcoin 2025 conference in Las Vegas.
Reuters
21-05-2025
- Business
- Reuters
TSX slips amid trade uncertainty, debate over Trump's tax bill
May 21 (Reuters) - Futures for Canada's main stock index dipped on Wednesday, retreating from a record peak in the previous session, as investors kept a cautious eye on trade developments and a debate over a sweeping U.S. tax bill. June futures on the S&P/TSX index (.SXFcv1), opens new tab were down 0.6% at 6:04 a.m. ET (1004 GMT). Canada's main stock index rose to a record high on Tuesday, led by gains for metal mining shares, as investors shrugged off hotter-than-expected domestic inflation data and looked for further progress in the easing of global trade tensions. However, market sentiment remains fragile due to a lack of progress in U.S. trade talks, as President Donald Trump's 90-day tariff respite nears its end and a U.S. tax bill faces a hearing in the U.S. House of Representatives. The bill, which Trump has called "big, beautiful", faces a critical stress test on the day, as Republicans navigate internal divisions over Medicaid cuts and tax breaks in high-cost coastal states. Meanwhile, Canada's big banks are bracing for trade uncertainty and are expected to have shored up loan loss reserves in the second quarter, with four of the big six banks putting aside over C$1 billion. Markets are also monitoring the Group of Seven finance ministers' meetings currently underway in Canada for any hints that a weaker dollar could help advance trade negotiations. In commodities, gold prices rose nearly 1%, hitting their highest levels in more than a week. Oil prices gained more than 1% and copper prices in London also rose. In corporate news, Canadian fund Brookfield ( opens new tab has received a binding bid for its student accommodation platform Livensa from Spain's Bankinter ( opens new tab, for what would be one of the largest deals in the sector in recent years. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report CA/ Reuters global stocks poll for Canada , Canadian markets directory
