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...It is under scrutiny by officials at the US Treasury department and has come under pressure from the European Central Bank to pull out of Russia....
...“Today, we have announced changes to our structure, which will help us shape the future of the bank and accelerate the delivery of the priorities set out at our recent financial results,” the bank said....
...The lender said its Wall Street sales and trading businesses enjoyed their best start to the year in more than a decade....
...It’s under review by officials at the US Treasury, and the European Central Bank has also mounted pressure for the bank to pull out of Russia. Raiffeisen itself seemed surprised by the findings....
...Net income at the bank fell 24 per cent in 2023 to $8.5bn, the lowest since 2019....
...In the 24 hours after the collapse of SVB, I investigated further....
...“Banks will be under pressure,” said Barry Gosin, chief executive of Newmark, which handled $50bn of loan sales for failed Signature Bank....
...Restrictive laws put in place by the Kremlin mean Raiffeisen is unable to repatriate profits from the country and must have presidential approval for any sale of its Russian business....
...“The banks remain cautious for financial year ‘24.”...
...“If you were designing the market from scratch today . . . you would probably build in fractionalisation [of shares] . . . and 24-hour trading,” Robinhood founder Vlad Tenev told the Financial Times....
...For all the excitement over artificial intelligence, I’d wager that most investors would struggle to identify many sectors where there is hard financial evidence of it helping businesses boost sales or improve...
...European and UK banks, such as Santander and Barclays, have used SRTs in a small way for many years. Now US lenders are getting in on the action....
...Steven Kelly of the Yale Program on Financial Stability thinks a sale is the best solution....
...set of changes to its organisational and management model since the 2008 financial crisis”....
...Raiffeisen Bank International on Wednesday abandoned a planned sale of risky bank debt after an “adverse market reaction” to a report that the US was putting pressure on the Austrian group over a deal with...
...But the answer in the US is different....
...A day after the embattled regional bank received a $1bn lifeline from a consortium of big name investors led by former US Treasury secretary Steven Mnuchin, management spoke of the “beginning of a new chapter...
...If that trend continues into next week, I wouldn’t be surprised if the central bank raises rates.” Bank Indonesia is scheduled to hold a monetary policy meeting on April 23 and 24....
...One thing to start: Italy’s finance police raided the headquarters of Serie A football club AC Milan on Tuesday as part of an investigation into potential irregularities over its 2022 sale by US hedge fund...
...Today, central bank whispering is a full-time occupation. The regularity of committee meetings has fused with high-frequency trading, the 24-hour news cycle and social media....
...hours....
...There are only a handful of bank stocks that have outperformed JPM’s, and they are all much smaller (note that the performance of the KBW bank index, an index of 24 large US banks, would be even worse were...
...from the US Securities and Exchange Commission....
...Across the wider US banking sector the value of delinquent loans tied to offices, malls, apartments and other commercial properties more than doubled last year to $24.3bn, up from $11.2bn the year before...
...The largest US bank by assets, JPMorgan Chase, was able to outbid smaller suitors. To be sure, there may be instances when a sale to a mega bank will minimise both financial and social costs....
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