09282016Wed
Last update: Wed, 28 Sep 2016 01am

Business & Finance - Banking & Finance

Colombia central bank to hold rates for rest of 2016 BOGOTA: Colombia's central bank will hold its benchmark interest rate at its meeting this week, analysts in a Reuters survey said on Monday, in a trend set to continue for the remainder of the year as policymakers await a fall in inflation.All 15 analysts polled said the seven-member bank board will keep the rate at 7.75 percent at its meeting on Friday, which would mean a second consecutive month of rate holds. Thirteen of those surveyed said policymakers would hold rates steady for the rest of the year, while two analysts predicted cuts beginning in December to help economic recovery after a sharp fall in oil prices dented national income."The interest rate will stay stable because of inflation and the expectations that it will begin converging towards the bank's target range," said Juan Felipe Pinzon, analyst at the Profesionales de Bolsa brokerage. Twelve-month inflation in August was 8.10 percent, more ...


Business & Finance - Banking & Finance

Deutsche Bank says no need for Berlin's help in $14bn US dispute FRANKFURT/BERLIN: Deutsche Bank said on Monday it had no need for German government help with a $14 billion US demand to settle claims it missold mortgage-backed securities, as its shares hit a record low. German magazine Focus reported at the weekend that Chancellor Angela Merkel had met Deutsche Bank Chief Executive John Cryan over the summer and had indicated he could expect no help from Berlin in resolving the bank's dispute with the US Department ...

Business & Finance - Banking & Finance

ECB's Coeure says QE less effective than hoped due to external shocks ROME: The European Central Bank's programme of quantitative easing has been less effective than it had hoped as a result of external shocks, ECB Executive Board Member Benoit Coeure said on Monday. Speaking at a conference in Rome, Coeure said that since the ECB began its asset buying programme the euro zone economy had been hit by "a number of external shocks", including a steep fall in commodity prices and, most recently, Britain's decision to ...

Business & Finance - Banking & Finance

Fed will seek more capital from largest US banks WASHINGTON: The Federal Reserve will seek significantly more capital from the largest US banks and give some relief to smaller banks as it considers reforms to its annual 'stress test,' Fed Governor Daniel Tarullo said on Monday. The reforms will include a new capital 'buffer' to better protect the financial system from a shock at the nation's largest lenders like JPMorgan Chase, Bank of America and Wells Fargo."In pulling this package of modifications together, we ...

Business & Finance - Industries & Sectors

Investors welcome signals Siemens CEO will stay on FRANKFURT: Siemens Chief Executive Joe Kaeser has signaled he wants to renew his contract when it runs out in 2018, a move welcomed by investors who have grown to trust the 59-year-old company veteran. Kaeser ousted his predecessor Peter Loescher in a boardroom coup in July 2013 when he was finance chief. Since then he has streamlined the German group to focus on its strengths in industrial engineering, raised profitability and seen the share price ...

Business & Finance - Industries & Sectors

Kenya Airways in talks with 3-4 parties on stake sale: CEO NAIROBI: Kenya Airways is talking to "about three or four" foreign institutional investors and airlines about buying a stake to raise cash for the lossmaking carrier, its chief executive said on Monday. The airline, 27 percent-owned by Air France KLM, has been reducing the size of and modernising its fleet, selling land and cutting jobs to recover from losses caused by a slump in tourism. "We are talking to about three or four parties," Mbuvi ...

Business & Finance - Industries & Sectors

Pfizer's pricey non-split may only defer problem NEW YORK: After years of study costing $600 mln, the drugmaker says it won't break itself up. Boss Ian Read always seemed keener on acquisitions. It's true the process helped close a conglomerate discount.But Pfizer's sprawl and tendency to overpay means the gap may soon reappear. Copyright Reuters, 2016