Standard Chartered Plc bank branch in Hong Kong Bloomberg | Bloomberg | Getty Images Recent documents submitted to a U.S. federal court allege that major British bank Standard Chartered helped finance sanctioned Iranian entities and terrorist groups, and that relevant evidence was ignored by American authorities. London-based Standard Chartered, which primarily serves clients in emerging … Read more
Ira L. Black – Corbis | Corbis News | Getty Images The U.S. Small Business Administration plans to unveil new government-backed credit lines of up to $5 million for small businesses, SBA Administrator Isabel Casillas Guzman told CNBC. The SBA is launching a working capital pilot program in the coming months that is designed to … Read more
Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a “large and underserved” market of some 2.8 million British “digital nomads.” Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images PARIS — Dutch digital bank Bunq is hoping it will manage to secure a banking license from U.K. financial regulators … Read more
Oscar Wong | Moment | Getty Images When Adam Moelis co-founded a fintech startup named Yotta in 2019, he wanted to give Americans a new way to save money to help them cushion the ups and downs of life. Instead, his company has inadvertently been a source of deep pain for thousands of customers who … Read more
Despite the heightened scrutiny around regional banks, little-known East West Bancorp has been able to pull ahead thanks to a key customer base: Asian Americans. East West Bancorp shares have eked out a small gain in 2024, up 2%. That’s a paltry advance when compared with the S&P 500, which is up 10%, but impressive … Read more
Bank of America Chairman and CEO Brian Thomas Moynihan speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters U.S. consumers and businesses alike have turned cautious on spending this year because of elevated inflation … Read more
The three keys USB logo is seen outside the London office of Swiss bank UBS in central London, on March 20, 2023. Daniel Leal | AFP | Getty Images LONDON — UBS on Thursday announced a shake-up of its executive board in the latest phase of a radical overhaul of the Swiss banking giant, following … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market pressure : The major stock benchmarks were moving lower Wednesday, with the Dow getting the worst of it again. Adding pressure on equities, bond yields … Read more
Ramesh Mantri, CIO, WhiteOak Capital AMC, says when we look at combined fundamentals and valuation, there are some sectors where fundamentals are very strong, but valuation is very high like industrials, capex related and then smaller industry segments like defence, electronics and manufacturing. The fundamental corporate earnings have been good but the valuation is high. … Read more
Ryanjlane | E+ | Getty Images Sometimes, it pays to pay with cash. More merchants are offering a lower price to customers who use cash rather than credit card for a purchase. That means opting for paper over plastic may save you money in some cases. Just how much? Typically, cash discounts run about … Read more
