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Capital and Risk, Macroeconomic

US retail sales unexpectedly decline in a sign that consumer economy could be cracking

October 16, 2019

Via: CNBC

U.S. retail sales fell for the first time in seven months in September, raising fears that a slowdown in the American manufacturing sector could be starting to bleed into the consumer side of the economy. The Commerce Department said on […]


Activity, Trading

Citigroup earnings beat on better-than-expected trading results

October 15, 2019

Via: CNBC

Citigroup on Tuesday reported third-quarter earnings and revenue that topped projections as stronger-than-expected trading results made up for weaker lending margins. Here’s how the bank fared compared to Wall Street expectations: Earnings: $1.97 per share vs $1.95 per share expected […]


Activity, Corporate Banking

JPMorgan Chase Agents $1.35B in Facilities for MSG Networks

October 15, 2019

Via: ABF Journal

MSGN Holdings, an indirect wholly owned subsidiary of MSG Networks, entered into an amended and restated credit agreement with JPMorgan Chase Bank as administrative agent and the lenders party thereto. The credit agreement amends and restates MSGN Holdings’ prior credit […]


Capital and Risk, Macroeconomic

Millennials are about to trigger a major ‘changeover point’ for the US economy, asset manager says

October 14, 2019

Via: CNBC

A fundamental shift in the spending habits of U.S. millennials will have an incredible impact on the world’s largest economy, according to the CEO of Smead Capital Management. U.S. adults aged between 21 and 38 years old will prioritize “necessity […]


Business Banking, Products, Regulations

Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra

October 14, 2019

Via: Banking Technology

The Financial Times and Bloomberg reported the decisions by five heavy-weight backers to pull out of the project, which now leaves Libra with no major US payment processor following PayPal’s drop out too earlier last week. On Wednesday last week, […]


Business Banking, Products

Norway’s largest bank set to monopolise country with all-access mobile banking app

October 9, 2019

Via: Banking Technology

Last year DNB and Danske Bank became co-owners of the fintech. Now this joint acquisition is seeing Oslo-based DNB seek the “favoured” spot for Norway’s mobile banking app champion. “With access to every bank in Norway, DNB can now digitally […]


Business Banking, Products

Robinhood makes second attempt at launching a high-yield account similar to banks

October 8, 2019

Via: CNBC

Robinhood is giving banking another shot. Ten months after the failed launch of a checking and savings account, the free stock-trading start-up announced a cash management account with a 2.05% interest rate. The APY is more than twenty times higher […]


Activity, Trading

Trade war could cost global economy $700 billion by 2020, new IMF chief says

October 8, 2019

Via: Market Watch

The trade war between the U.S. and China could mean the loss of around $700 billion for the global economy by 2020, the new head of the International Monetary Fund said Tuesday. “Everyone loses in a trade war,” said Kristalina […]


Capital and Risk, Macroeconomic

Economists warn the risk of recession is rising because of Trump’s trade war

October 7, 2019

Via: CNBC

The risk of a recession is rising, and the main threat to the economy is the Trump administration’s trade war, according to a survey released Monday by the National Association for Business Economics. “The rise in protectionism, pervasive trade policy […]


Regulations

World Federation of Exchanges asks FCA not to ban sale of crypto derivatives to retail investors

October 7, 2019

Via: Finextra

The FCA consulted the industry on measures to protect investors, who may seek to buy crypto-based futures, options, and contracts for difference and exchange-traded notes. In its response, the WFE emphasised its desire to help find the right balance between […]