banks

HSBC ahead in Foreign Investment

HSBC ahead in Foreign Investment

HSBC has a three year head start on their foreign investment banking competitors in China due to their management control of their securities venture. Currently, non Chinese groups are limited to only 49% per cent stakes in joint ventures. However, ..

Analysts Fear for the U.S. Dollar's Status as World Reserve Currency

Analysts Fear for the U.S. Dollar's Status as World Reserve Currency

It is no secret that world over, the U.S. dollar enjoys the pride of place. Central banks use the dollar as the world reserve currency and when you look at the transactions that take place across the globe, nearly 90% of them are carried out in U.S...

Federal Reserve’s New Rule to Help Unwind Big Banks

Federal Reserve’s New Rule to Help Unwind Big Banks

On Friday, The Federal Reserve finalized a new rule that would make it easier to unwind important U.S. banks by creating a safe harbor for financial contracts after a firm defaults. This decision was unanimously approved by Federal board members and..

JP Morgan to Cut $200 Million off Chase Sapphire Reserve Cards

JP Morgan to Cut $200 Million off Chase Sapphire Reserve Cards

JP Morgan Chase & Co. (NYSE: JPM) aims to cut costs of about $200 million in the unit that oversees the Sapphire Reserve credit card due to high demand and the card’s generous rewards.Consumers are willing to pay the $450 annual fee for a ..

Banks Lead Broad Rally, Wall Street Goes Higher

Banks Lead Broad Rally, Wall Street Goes Higher

On Monday, U.S. stocks began the third quarter on a positive note , with bank shares leading a broad rally.Bank of America (NYSE: BAC) and JPMorgan Chase & Co. (NYSE: JPM) helped lift the S&P 500 index, while Goldman Sachs (NY..

Shares Pull Up In Financial Sector

Shares Pull Up In Financial Sector

Wednesday was a good day for the financial sector as markets pulled for stocks here, indicating favorable investors sentiment. The SP 500 touched its largest single- day gain over a period of two months on Wednesday and the NASDAQ matched pace by po..