Tag Archives: banking

Expectations of Donald Trump dismantling Dodd-Frank send banking shares higher

Shares in banks and insurance groups are rallying in London, following the reports that President Donald Trump will take steps to dismantle regulations brought in to prevent another financial crisis. Mr Trump is expected to order a review of the Dodd-Frank Act on Friday, which was implemented in the aftermath of the 2008 financial crisis to prevent a… Read More »

Standard Chartered’s Thai unit to transfer retail banking business to TISCO

The Thai unit of Standard Chartered (STAN.L) has agreed to transfer its retail banking business to TISCO Bank PCL and All-Ways Company, as the UK lender’s Chief Executive Bill Winters continues with restructuring to boost earnings. Standard Chartered announced in November 2015 that it would take a series of restructuring actions to improve returns, including to divest businesses… Read More »

Barclays first-quarter profit falls 33 percent as investment banking slowdown bites

Barclays (BARC.L) reported a worse than expected 33 percent slump in pretax profits for the first three months of the year, as the lender followed its U.S. peers in reporting falling investment banking revenues in a weak global market environment. Barclays said first quarter pretax profits fell to 793 million pounds ($1.15 billion), just below the average forecast… Read More »

NAB, ANZ bosses say calls for royal commission in banking a ‘serious distraction’

The bosses of Australia’s biggest banks have dismissed Labor’s call for a royal commission into the financial sector as the Federal Government rules out launching its own. Opposition Leader Bill Shorten has vowed to hold a two-year, $53 million probe if elected, saying a “string of scandals” proved it was vital. But National Australia Bank chief executive Andrew… Read More »