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Fed staff float plan to end term-repo after April, minutes show

5 hours ago NAMEX Comments Off on Fed staff float plan to end term-repo after April, minutes show
(Reuters) – Senior Federal Reserve staff proposed ending longer-term loans to banks after April as part of a broader blueprint laying out how the central bank could scale back the support provided to money markets, the minutes from the January policy meeting showed. The proposal, which received a warm reception from policymakers, explained how the Read More

Fed policymakers cautiously optimistic on U.S. economy despite new risks, minutes show

5 hours ago NAMEX Comments Off on Fed policymakers cautiously optimistic on U.S. economy despite new risks, minutes show
WASHINGTON (Reuters) – Federal Reserve policymakers were cautiously optimistic about their ability to hold interest rates steady this year, minutes of the central bank’s last policy meeting showed, even as they acknowledged new risks caused by the coronavirus outbreak. FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Read More

Meghan Markle, Prince Harry ‘eager’ to use ‘Sussex Royal’ brand, but the queen ‘had other plans’: source

12 hours ago NAMEX Comments Off on Meghan Markle, Prince Harry ‘eager’ to use ‘Sussex Royal’ brand, but the queen ‘had other plans’: source
Meghan Markle and her husband Prince Harry will need to drop their “Sussex Royal” label if they want to be truly financially independent. It is believed Queen Elizabeth II and other senior officials have agreed it is no longer tenable for the Duke and Duchess of Sussex to keep the word “royal” in their branding, Read More

Regulators need to get up to speed on digital currencies

14 hours ago NAMEX Comments Off on Regulators need to get up to speed on digital currencies
LONDON (Reuters) – Global financial regulators risk falling behind on rapid innovation in the digital payments industry and need to work more quickly to devise rules for crypto-currencies or “stablecoins”, the chair of a global finance watchdog said on Wednesday. FILE PHOTO: Shadow of a 3D-printed Facebook Libra cryptocurrency logo is seen near cryptocurrency representation Read More

UPDATE 2-LendingClub to acquire Radius Bank for $185 mln

1 day ago NAMEX Comments Off on UPDATE 2-LendingClub to acquire Radius Bank for $185 mln
NEW YORK (Reuters) – LendingClub Corp (LC.N) on Tuesday agreed to buy U.S. digital lender Radius Bank in a cash-and-stock deal valued at $185 million, as it looks to gain access to a cheaper source of funding and offer a broader suite of banking services. FILE PHOTO: A Lending Club banner hangs on the facade Read More

HSBC sets new cost cutting, earnings targets after 2019 profit falls 33%

2 days ago NAMEX Comments Off on HSBC sets new cost cutting, earnings targets after 2019 profit falls 33%
HONG KONG/LONDON (Reuters) – HSBC Holdings PLC (HSBA.L) on Tuesday unveiled plans to cut $100 billion in assets, slash its investment bank and restructure in the United States and Europe, as it launched its biggest overhaul in years in a bid to improve returns. FILE PHOTO: HSBC logos are seen on a branch bank in Read More

Chuck DeVore: Will illegal voting tip Texas blue in 2020?

3 days ago NAMEX Comments Off on Chuck DeVore: Will illegal voting tip Texas blue in 2020?
Texas, the second-biggest Electoral College prize after California, may be a hard-fought political battleground this year. After Sen. Ted Cruz’ closer-than-expected 2.6 percent 2018 reelection victory over then-Congressman Beto O’Rourke, Democrats across the nation have been proclaiming Texas is theirs for the taking. Former New York Mayor Michael Bloomberg has pledged to spend $1 billion Read More

Chinese province launches insurance for businesses hit by coronavirus

3 days ago NAMEX Comments Off on Chinese province launches insurance for businesses hit by coronavirus
Feb 17 (Reuters) – China’s southern province of Hainan has launched the first specially-designed insurance product to cover losses incurred by businesses as a result of the coronavirus outbreak in the country, the banking and insurance regulator said. The scheme has set aside 200 million yuan ($28.7 million) to cover payouts, according to a notice Read More

Iran will never talk to US under pressure or from ‘position of weakness’ – President Rouhani

4 days ago NAMEX Comments Off on Iran will never talk to US under pressure or from ‘position of weakness’ – President Rouhani
Iranian President Hassan Rouhani ruled out any likelihood of talks with the US unless Washington lifts its ‘maximum pressure’ policy, adding that peace in the Middle East and the Gulf is unimaginable without Tehran’s help. Tehran “will never negotiate under pressure,” Rouhani reiterated in an address quoted by local media. Iran “will never yield to Read More

Bernie Sanders tears into Michael Bloomberg, says Dem billionaire can’t beat Trump

4 days ago NAMEX Comments Off on Bernie Sanders tears into Michael Bloomberg, says Dem billionaire can’t beat Trump
Democratic presidential contender Bernie Sanders has long identified his chief political adversaries as “millionaires and billionaires.” But in Las Vegas on Saturday night, the U.S. senator from Vermont mentioned a specific name: Michael Bloomberg. The setting was the Nevada Democratic Party’s “Kick-Off to Caucus” gala that followed the launch of early voting in the state ahead of Read More