The International Monetary Fund (IMF) has warned that severe cyber attacks against financial institutions could lead to major bank runs and market selloffs. While this hasn’t happened yet, the IMF has observed these effects on a smaller scale after a cyber attack hits a bank.
Law enforcement from several agencies are on the scene of a shooting investigation near the JOANN Fabric and Crafts at the corner of Saginaw and Waverly. Units from Eaton County Sheriff, Michigan State Police, Lansing Township and Lansing are all in the area.
Investors have continued to backpedal on the stock market, especially in the banking sector, on the back of the proposed recapitalization of the banks announced late last month by the Central Bank of Nigeria, CBN.
(Reuters) -Citigroup's profit fell in the first quarter as it spent more on severance payments for laid-off employees and set aside money to refill a government deposit insurance fund. Citi said in its investor presentation that it expects a headcount reduction of 7,000 and $1.5 billion in annualized savings from reorganization. Fraser began a sweeping reorganization in September to simplify the bank and improve performance.
Bank customers with trust accounts may see their FDIC insurance coverage limits lowered under new changes. Here's what to know.
By one famous measure, stocks looks overvalued. But investing pros say the market's fundamentals are strong.
Questions raised by New York Attorney General Letitia James about the man who stepped in to finance Donald Trump's $175 million appeals bond took center stage on MSNBC's "The Weekend" on Sunday morning with even more questions being raised.Sitting down with co-hosts Alicia Menendez, Michael Steele and Symone Sanders-Townsend. MSNBC legal analyst Lisa Rubin noted that Don Hankey, chair of the LA-based Hankey Group and owner of the Knight Specialty Insurance Company, has given conflicting answers...
Warren Buffett's Berkshire Hathaway has made a significant investment in Liberty SiriusXM Group, the parent company of SiriusXM Radio. read more
"Central Bank Observers Take Note": HSBC Warns "Weak Bull" Commodity Run Has Begun Commodity prices provide a real-time snapshot of the global economy through spot prices, which are essentially high-frequency data about the current supply and demand environment. These prices are key components in measuring inflation, which has shown signs of easing over the past year. However, a recent surge in the Bloomberg Commodity Index and signs of a reacceleration in US inflation data are...
US Domestic Deposits Tumble $60BN As Small Bank Loan Volumes Shrank Most Since SVB Money-market funds saw a small outflow last week (surprisingly small given how close to Tax-Day we are), leaving them still near record highs over $6 Trillion (and the trend of increased deposits at banks has been accelerating) Source: Bloomberg Interestingly, amid all the talk of tapering QT, The Fed balance sheet was basically unchanged last week (-$1.4BN) Source: Bloomberg as The Fed's (now...
LIBBY, Mont. (AP) — Paul Resch remembers playing baseball as a kid on a field constructed from asbestos-tainted vermiculite, mere yards from railroad tracks where trains kicked up clouds of dust as they hauled the contaminated material from a mountaintop mine through the northwestern Montana town of Libby. He liked to sneak into vermiculite-filled storage []
A man stabbed six people to death at a busy Sydney shopping center Saturday before he was fatally shot, police said, with hundreds fleeing the chaotic scene, many weeping as they carried their children. Eight people, including a 9-month-old, were injured. New South Wales police said they believed a 40-year-old man was responsible for the […]