A handful of the world’s largest banks are pulling out of the Middle East and Asia.
Large lenders are taking advantage of the recent decline in benchmark borrowing costs by tapping into U.S. debt.
For the first time, Chinese banks have edged ahead of U.S. heavyweights like JP Morgan and General Electric to secure the top two spots on Forbes’ 10th annual ranking of the world’s top 2000 businesses, reports Guardian.co.uk. Overall, the list has a total of 543 companies from the U.S., while its closest rivals Japan and […]
Preparing your annual tax return can actually be a rewarding experience if you know how to take advantage of all the tax deductions and credits, says CIBC’s tax and estate planning expert, Jamie Golombek. “If you know where to look, preparing your taxes can be enjoyable as you find savings and ways to reduce your […]
Saving takes commitment and an ING DIRECT study finds while more than half of Canadians (52%) don’t save regularly each month, the majority (81%) would be willing to give up some things in exchange for a richer savings account. The survey found that when push comes to shove, many Canadians would relinquish what most consider […]
Aggressive job cuts and cost containment by the big U.S. banks have started to show results. JPMorgan Chase beat expectations to report a 33% rise in its net income to $6.5bn in the first quarter, reports FT.com. However, the “bumper profit” was also a function of improving U.S. economy, increased borrowing and debt issuance. Also […]
There has been a dramatic shift in the OECD central banks’ approach to their monetary policies since 2007. The old practice of anticipating inflation has now given way to central bankers being more reactive to inflationary outcomes, reports FT.com. One of the many implications of this change is its impact on currency movements causing emerging […]
TD Bank Group chief executive Ed Clark announced his retirement effective November 1, 2014. Read: TD snaps up Epoch Holding Corporation Clark will be succeeded by Bharat Masrani, group head U.S. personal and commercial banking, TD Bank Group, who will take over as the group’s president and CEO on the day of Clark’s retirement. Clark […]
The BRICS group of emerging market economies has long sought greater sway in global finance and at the International Monetary Fund (IMF), which is currently dominated by advanced economies. Now the group, which accounts for 43% of the world’s population, is considering plans to set up a new bank that will reduce its dependence on […]
The Mediterranean island of Cyprus, having taken global markets on a vertiginous ride, struck a €10bn ($13bn) bailout deal over the weekend. And as fears of the Eurozone trundling into another banking crisis subsided, equity market rally picked up right where it left off, reports FT.com. Nicosia, the nation’s capital, is pushing for legislation that […]