Skyscrapers in the Canary Wharf financial, business and shopping district in London, UK. Bloomberg | Bloomberg | Getty Images The average FTSE 100 CEO will have earned more this year than the median full-time worker’s annual salary by 1 p.m. London time on Thursday, according to estimates from the High Pay Centre think tank. The … Read more
Mumbai: Bond forwards in sovereign debt, for which the Reserve Bank of India released draft directions last week, will help end a regulatory grey area and let banks and insurers cater to the trillions of rupees worth of retail demand for long-term investment products in a standardised manner. Introduction of bond forwards, which are derivative … Read more
New Delhi, Finance Minister Nirmala Sitharaman on Saturday held a meeting with heads of public sector banks and reviewed their financial performance. During the meeting, concerns related to cyber security and the risks on the financial sector were discussed, sources said. Issues related to fraud and wilful defaulters and progress on the National Asset Reconstruction … Read more
Mumbai: Indian equities surged almost 1% on Wednesday to close at record levels, mirroring the strength in global markets, which have been boosted by optimism over the likelihood of interest rate cuts next year. The Sensex closed above 72,000 for the first time, while the Volatility Index or VIX – a popular fear gauge – … Read more
The top 10 things to watch Monday, Dec. 11 1. U.S. stocks are muted Monday following last week’s push to a new 52-week high in the S & P 500 , helped by a stronger-than-expected jobs report Friday. Good economic news is good news for the stock market, for now, with investors looking ahead to … Read more
Spencer Platt | Getty Images News | Getty Images WASHINGTON — Democratic lawmakers on Thursday praised workers at a New Mexico branch of Wells Fargo for becoming the first branch of the nation’s fourth-largest bank to unionize. “Your success brings the fight for the Dignity of Work directly to Wall Street’s front door,” said Sen. … Read more
The Internal Revenue Service headquarters building in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images WASHINGTON — A former Swiss finance executive pled guilty in New York federal court on Thursday to conspiring to defraud the United States in a tax evasion scheme known as the “Singapore Solution” that hid $60 million … Read more
When you drop money in the bank, it looks like it’s just sitting there, ready for you to withdraw. In reality, your institution makes money on your money by lending it elsewhere, including to the fossil fuel companies driving climate change, as well as emissions-heavy industries like manufacturing. So just by leaving money in a … Read more
The U.K. and Switzerland are deepening the ties between their financial services sectors with a new post-Brexit deal. Sopa Images | Lightrocket | Getty Images LONDON — The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe’s largest banking centers closer together. British Finance Minister Jeremy … Read more
A FedEx truck and cars commute on Highway 101 during heavy rain in San Francisco Bay Area of California, United States on December 20, 2023. Tayfun Coskun | Anadolu | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything … Read more
