$UBS, $CS UBS Group (NYSE:UBS) warned that the worst may not be over after clients pulled $13-B in assets during a market correction in the last 3 months of Y 2018. Increased volatility, rising protectionism and geopolitical tensions are still weighing on investors, which will hit wealth and asset management revenue in Q-1, the Zurich-based […]
$BAC, $C, $JPM, $WFC,$FITB, $BKX, $SPY We do expect US bank shares to continue to outperform after better-than-expected Q-4 earnings and outlooks and their cheap stock prices finally broke a losing streak, thus leading the next leg of this historic Bull Market. The gains will be driven by management teams reiterating their ability to drive […]
$DIA, $SPY, $QQQ, $RUTX, $GS In the US the richest 1%of households own 50% of all the stocks in the United States, a Goldman Sachs (NYSE:GS) executive declared Friday. Speaking publicly the investment bank’s Chief Economist, Daan Struyven said the number has risen sharply over the past 30 years. “The wealthiest 0.1% and 1% of […]
US fund investors charged into high-yield corporate bonds during the latest week, shoveling $3.3-B, the most cash flowing into that market since late Y 2016, Lipper said Thursday, boosted by dovish words from Fed Chairman Powell. Underscoring investors’ appetite for some risk-taking, investors pulled $15-B net cash from US-based money market funds, according to the […]
Bank of England’s BREXIT Analysis Due Next Week The Bank of England will publish its economic analysis of Prime Minister Theresa May’s BREXIT deal next week as well as an assessment of what would happen if Britain crashes out of the EU with No deal. The assessments will be sent to lawmakers on the Treasury […]
Mr. Hussein Obama Secretly Worked for 6 Years to Halt the Growth of JP MorganChase $JPM For about 6 years, former President Barack Hussein Obama secretly hobbled JPMorgan Chase & Co.(NYSE:JPM), the nation’s largest bank. Now the chains are off, thanks to bank-friendly regulators in The Trump Administration. In actions never before made public until […]
America First Is a Winning Strategy America First is the way to go. US stock markets continue to be driven by “uniquely American” factors such as strong activity data, a central bank that’s on the path to being restrictive and foreign policy aimed at systemically important countries, JPMorgan Chase & Co. (NYSE:JPM) strategists led by […]
A “Red Wave” in November Means More Tax Cuts for Americans $DIA, $SPY, $QQQ, $RUTX, $VXX A “Red Wave” in the November midterm elections means “tax cuts 2.0” GOP voter enthusiasm is powered by support for Supreme Court nominee Brett Kavanaugh Financial stocks are rallying for a 2nd day running as 10-year T-Note yields top […]
US Tariffs Driving RMB Yuan South to 10 yr Lows Vs USD $USDCNY (onshore): -0.29% to 6.868 $USDCNH (offshore): -0.09% to 6.879 Golden Week begins on 1 October With little prospect of a restart for US-China trade talks, we expect an escalation in tensions that will see higher American tariffs on all Chinese imports, sending […]
China Banks and the Trade War HEFFX remains bullish on China’s Banks Chinese banking giant ICBC, the world’s biggest bank by assets, posted solid profit growth for the first half of the year Thursday but warned that the US-China trade war could pose risks. Net profit for Industrial & Commercial Bank of China climbed almost […]
Bitcoin (BTC) Recovers, Key SKorean Exchange Back Online $BTCUSD Bitcoin is rallying this week after the 5th largest crypto exchange in the world, Bithumb, reopened. It had temporarily shut down new account registrations after a $30-M hack in June. All of this buying is coming from Asia, the biggest news in the market now is […]
The Healing Power of Stem Cells Your stem cells naturally act as tiny repair mechanisms making them ideal for use in a range of treatment options. We believe in a holistic approach to your wellbeing. Using haematopoietic stem cells (from cord blood) and mesenchymal stem cells (from placenta, cord tissue and adipose tissue), Target150 offer […]
Wells Fargo (NYSE:WFC) is Pro Law, Not Anti-Marijuana $WFC Pro Law, Not Anti-Marijuana Wells Fargo & Co. (NYSE:WFC) say the giant bank is not making a political statement, that it is following the law of the land; marijuana is not legal under federal law. So goes the bank’s response to backlash over terminating a pro-medical marijuana Florida […]
Manafort Trial Update: Mistrial on 10 Counts, Guilty on 8 Counts Tuesday, President Donald Trump called former campaign Chairman Paul Manafort a “good man” and again hammered Special Counsel Robert Mueller’s Russia probe as a “witch hunt” less than an hour after Mr. Manafort was found guilty of bank and tax fraud. “I must tell you […]
FX: Sterling (GBP) Traders Focused on BREXIT Outcome GBP/USD: -0.32% to 1.2721, Tuesday’s action is the 9th consecutive decliner for the GBP Having sunk to 13-month lows, the Pound Sterling could fall by up to another 10% in the coming months should Britain crash out of the EU without a deal on future trade ties, […]
The ECB’s Benchmark Interest Rate Unchanged at Zero $EURUSD The European Central Bank is stressing that interest rates will stay low well into next year even as the U.S. Federal Reserve is expected to keep raising rates in coming months. The central bank for the 19 countries that use the euro left its key rates […]
‘Big Blue'(NYSE:IBM) Partners with Stronghold for New Digital Coin $IBM Tuesday, IBM aka Big Blue (NYSE:IBM) announced that is backing a new cryptocurrency pegged to the USD, in a partnership with US-based financial services provider Stronghold that adds stability to a sector known for its volatility, the companies said. Dubbed the stable coin, Stronghold USD, […]
Goldman Sachs Very Bearish Tesla (NASDAQ:TSLA), Musk Bristles… $TSLA Elon Musk says Tesla (NASDAQ:TSLA) bears like Goldman Sachs are in for a ‘rude awakening’ Goldman Sachs raised its Model 3 production estimates Monday, but the bank is Very Bearish Tesla. CEO Elon Musk sent a news article about the analyst note to the entire company. “They […]
The Farm Bill Now Focused on Hemp US Hemp producers and several advocacy groups have agreed that legislation offered by Senate Majority Senator Mitch McConnell, (R-KY), could have a dramatic impact on the US Hemp industry. Hemp, predominantly used a fiber, is part of the cannabis family like marijuana. However, Hemp contains much lower levels […]
The Supreme Court’s Travel Ban Ruling ‘a Moment of Profound Vindication’ Tuesday, US President Donald Trump said the Supreme Court’s ruling upholding his travel ban targeting several Muslim-majority countries was a victory for Americans and “a moment of profound vindication” for his policy. “Today’s Supreme Court ruling is a tremendous victory for the American people […]
Last Week in the Crypto World $BTCUSD Last week SKorean crypto exchange Bithumb experienced a major hack, and Japan’s Mt Gox, the most notorious exchange to be hacked in Bitcoin history, is back in the news. In Switzerland, the Bank of International Settlements (BIS) spread some misinformation about digital currencies and blockchains. In the US, […]
What it Means to Be King of Thailand Assets previously registered to Thailand’s Crown Property Bureau will now be held “in the name of His Majesty”, the bureau said on its official website Saturday, the latest shake-up in royal affairs under King Maha Vajiralongkorn. The Crown Property Bureau said its assets will now be “subject […]
If You Do Not Know What Bitcoin is, Read This Please $BTCUSD, $ETHUSD, $CME, $CBOE, $V, $MA If you are 1 of those people who do not know what Bitcoin and other cryptocurrencies are read this, as there is a keen international interest in this nascent digital asset. Interest in digital currency has expanded over […]
Dubai Getting Ahead of “the Cryptocurrency Game” $BTC, $ETH, $CME, $CBOT The Big Qs are: How seriously should we take the rise of cryptocurrency? Is it a serious rival to traditional currency? Should businesses consider using cryptocurrency? What do they need to do to implement it? Is enough being done to educate individuals and businesses […]
Head of Iran’s Central Bank Hit With Terror Sanctions The head of Iran’s central bank declared a terrorist The United States designated the head of Iran’s central bank as a terrorist and barred anyone around the world from doing business with him, escalating financial pressure on Iran. Valiollah Seif, the Governor of the Iranian central […]
Wall Street titan JP Morgan Chase has become the latest firm to apply for a controlling stake in a Chinese securities venture, taking advantage of new rules Beijing put in place last month as part of a move to open up the economy. JP Morgan Broking applied to establish a foreign invested securities firm with […]
Iran’s Currency Network Sanctioned US Sanctions Iran Currency Network After Nuclear Deal Withdrawal Thursday, the US Treasury imposed sanctions against 6 individuals and 3 companies it said had funneled millions of dollars to the Iranian Revolutionary Guard’s elite Qods Force, just days after President Donald Trump withdrew from the Y 2015 Iran nuclear deal. The […]
US Economy: Not to Hot, Not to Cold, Just Right The US with steady growth, low unemployment and tame inflation, the nation is experiencing a “Goldilocks” economy: Not too hot. Not too cold. But just right. That from a Top Fed official Friday, who suggested that the unemployment rate could fall further to 3.5% with […]
Goldman Sachs’ (NYSE:GS) Beats ‘The Street’ $GS Tuesday, Goldman Sachs Group Inc (NYSE:GS) beat Wall Street’s expectations for Quarterly profit driven by a rise in trading revenue and higher fees from debt and equity underwriting. The leading Wall Street bank’s trading revenue jumped 30% from a year earlier when it reported a 2% fall, hurt […]
Blockchain Technology is Driving Innovation in Payments Industry $AXP, $MA, $V, $IBM, $MSFT Blockchain is the innovative technology that is changing payments industry. Industry leaders like American Express, Master Charge and Visa are setting up to use the blockchain technology given its obvious benefits with regard to speed, accuracy, cost effectiveness, security, and more. Companies like […]
Blockchain, “No One Can Own of Control It, Everyone Can Use It” $BTCUSD, $ETHUSD, $IBM, $GOOG, $JPM, $USB, $WMT, $SPOT Blockchain is a technology that no one can own or control but anyone can use, it is the platform for Cryptocurrency. Blockchain as applications for just about any enterprise involved in record-keeping, documentation, registrations and […]
Bitcoin and Cryptocurrencies Across the Board $BTCUSD Bitcoin and other Cryptocurrencies are new, alluring and somewhat complex investment assets. People see Bitcoin as currency, an investment and a store of value. Government’s do not agree on what Bitcoin is. The US Internal Revenue sees and treats it as property, The US Securities and Exchange Commission considers […]
China Can ‘Open Up’ More, We Expect it Will People’s Bank of China (PBoC) Governor Zhou Xiaochuan, 70 anni, said market access reforms should be accelerated and that the world’s 2nd-largest economy “ can be bolder in opening up.” Policy makers are now focused on achieving “quality” growth, rather than the pace of expansion, which […]
Bitcoin ‘Hammered’ Banks Ban Purchases $BTCUSD Mr. Bear Breathes on Cryptocurrencies Bitcoin Hits $7,500 as UK’s Biggest Bank Bans Cryptocurrency Purchases on Credit Currently, Bitcoin is trading at: 7,659.085, -284.92, or -3.59%, as of 1:22p GMT, the market is open. Bitcoin prices tested 3-month lows Monday after Lloyds Banking Group, Britain’s biggest bank, said it would ban […]
Medical Marijuana Update, Plus California Banking Policy California’s Treasurer wants to create a public bank for the cannabis business. The medical marijuana movement loses a founding father, and the only other action this past week was a pair of CBD bills. California Last Saturday, Dennis Peron, “the Father of Medical Marijuana,” died at age 72. A […]
Bank of America (NYSE:BAC) is “all for Blockchain” $BAC, $CME, $CBOE, $BTC Wall Street and financial institutions have been extolling the benefits of “blockchain without Bitcoin” for a a few years. Blockchain is the distributed ledger technology that underpins Bitcoin, but voicing hesitation, or outright dismissal, of Bitcoin and other cryptocurrencies. Then, at the end […]
Bitcoin as Money, Is it or Is it Not? $BTCUSD A medium of exchange means people will give you things in exchange for it. And yes there are some places where people will give you real goods and services for Bitcoin, but not many. If Bitcoin is to compete with global currencies it needs a […]
US Economist Sees Strong Growth in 2018 $DIA, $SPY, $QQQ, $VXX A top-ranked US economist last year predicted that real US economic growth would reach 3% in Y 2017. “With a tax cut package finally passed by Congress, growth is likely to remain robust as we head into 2018,” Steven Stanley said. “The economy’s 2% […]
EU Seeks to Regulate Bitcoin, as it Tops $19,000. $BTCUSD, $DB Bitcoin is currently trading at: 19,199.1445, +1,099.16, or +6.07%, at close: 8:31p GMT Friday, EU states and legislators agreed on stricter rules to prevent money laundering and terrorism financing on exchange platforms for Bitcoin and other virtual currencie. The agreement is part of a broader set of […]
Goldman Requires 100% Margin on Some Bitcoin Futures Trades $BTCUSD, $GS, $CBOE, $CME Bitcoin is currently trading at: 17,339.625, +552.73, or +3.29%, as s of 7:39a GMT. Market open. Goldman Sachs Group (NYSE:GS) has demanded some clients set aside funds equal to the full value of their Bitcoin futures trade as a condition for clearing the transaction, aka 100% […]
Bank of America Corp (NYSE:BAC) Cryptocurrency Exchange Platform? During the first week of December, the second largest bank in the U.S., Bank of America (BOA), was awarded a cryptocurrency exchange patent. The BOA cryptocurrency trading platform’s concept summary outlines three types of accounts where users and businesses can swap digital assets instantly. On December 5 […]
United Overseas Bank Ltd (SGX:U11) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are trending. Note: this chart shows extraordinary price action to the upside. By the way, prices are vulnerable to a correction towards 24.85. The projected upper bound is: 27.54. The projected lower bound […]
S&P 500, DJIA at Record Marks, as Bank Stocks Gain $DIA, $SPY, $QQQ, $VXX Tuesday, the S&P 500 and the DJIA marketrecord levels in early afternoon trading as Boeing (NYSE:BA)rose and bank stocks gained ahead of a near certain move by the Fed to raise interest rate. Losses in technology heavyweights, including Apple (NASDAQ:AAPL), and […]
DBS Group Holdings Ltd (SGX:D05) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are trending. Note: this chart shows extraordinary price action to the upside. The projected upper bound is: 26.00. The projected lower bound is: 24.33. The projected closing price is: 25.17. DBS Group Holdings […]
Bank of America Corp (NYSE:BAC) HEFFX Outlook Overall, the bias in prices is: Upwards. Short term: Prices are stalling. Intermediate term: Prices are trending. The projected upper bound is: 27.42. The projected lower bound is: 25.85. The projected closing price is: 26.63. Bank of America Corporation is a bank holding company and a financial holding […]
United Overseas Bank Ltd (SGX:U11) Hiring “Virtual Employees” United Overseas Bank (UOB) is employing two robot-like “virtual employees” as they are termed – to tackle tasks its human employees find too boring. The bank said yesterday that the “robots”, Amy and Eve, are slashing the time taken on such repetitive and time-consuming jobs as data […]
DBS Group Holdings Ltd (SGX:D05) HEFFX Highlights DBS Group Emerges as Southeast Asia’s Most Valuable Company DBS shares advances to a record; Singtel shares decline Southeast Asia’s largest bank leverages ‘tech transformation’ DBS Group Holdings Ltd is an investment holding company. The Company performs its operation through its subsidiary, DBS Bank Ltd (the Bank), which […]
DBS Group Holdings Ltd (SGX:D05) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are trending. Note: this chart shows extraordinary price action to the upside. By the way, prices are vulnerable to a correction towards 22.29. The projected upper bound is: 24.91. The projected lower bound […]
China’s $38-T Off-Balance Sheet Items Poses Little Risk $CNY, $UBS, $MCO The Chinese finance sector’s RMB 253-T ($38-T) of off-balance sheet items pose little risk because more than two-thirds of them are relatively harmless components such as custodial funds and untapped credit-card limits, said UBS Group AG (NYSE:UBS). Despite the size of the number, a […]
China Gold: Demand Rises 20% YTD $GLD, $USD China’s demand for Gold reportedly rose almost 20% in the 1st 9 months of this year amid strong sales of Bold bars. China’s gold demand rose 16 percent year on year to 815.89 tonnes in the first three quarters of 2017, Xinhua reported, citing the China Gold Association. Jewelry […]
Bank of America Corp (NYSE:BAC) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are trending. Note: this chart shows extraordinary price action to the upside. By the way, prices are vulnerable to a correction towards 25.29. The projected upper bound is: 28.59. The projected lower bound […]
DBS Group Holdings Ltd (SGX:D05) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are ranging. Note: this chart shows extraordinary price action to the upside. By the way, prices are vulnerable to a correction towards 20.95. The projected upper bound is: 22.53. The projected lower bound […]
Bank of America Corp (NYSE:BAC) HEFFX Highlights The UK’s financial regulator has fined Bank of America’s Merrill Lynch £35m for breaking reporting rules. The US bank failed to report nearly 69 million transactions over two years, the Financial Conduct Authority said. Merrill Lynch’s fine was reduced by 30% because the bank agreed to settle at […]
United Overseas Bank Ltd (SGX:U11) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are stalling. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 23.55. The projected upper bound is: 24.92. The projected lower bound is: 23.74. The projected closing price is: 24.33. United Overseas […]
DBS Group Holdings Ltd (SGX:D05) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are ranging. Note: this chart shows extraordinary price action to the upside. By the way, prices are vulnerable to a correction towards 20.90. The projected upper bound is: 22.29. The projected lower bound […]
DBS Group Holdings Ltd (SGX:D05) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 20.87. The projected upper bound is: 22.10. The projected lower bound is: 20.92. The projected closing price is: 21.51 DBS Group […]
The Ongoing Feud Between Bannon and Weinstein at a Head $DIS, $WWE, $GS A huge, ongoing lawsuit that accuses Harvey Weinstein of fraudulently using Steve Bannon’s old company, and ESPN, WWE, Discovery and others as a $130-M piggy bank. In the days that the sexual assault allegations against film mogul Harvey Weinstein became public, Breitbart has been […]
Bank of America Corp (NYSE:BAC) HEFFX Highlights Bank of America Report: Bitcoin’s True Value ‘Impossible to Assess’ A potential move by global brokerages to offer products around cryptocurrencies could have a big impact on the wider market, analysts at Bank of America Merrill Lynch wrote. In an Oct. 16 research note entitled “Introducing cryptocurrencies – […]
DBS Group Holdings Ltd (SGX:D05) HEFFX Highlights The Development Bank of Singapore (DBS) expects policy fine-tuning from the Indian government — on the lines of the Goods and Services Tax (GST) — in coming weeks. According to DBS, incoming high-frequency data are likely to improve. The index of industrial production for August — due this […]
Bank of America Corp (NYSE:BAC) Leasing Space In Paris, France Bank of America has signed a lease for office space in Paris, cementing plans to move its European trading hub to France after Brexit, Bloomberg reported on Wednesday, citing people familiar with the decision. BofA has agreed to rent about 100,000 square feet of space […]
DBS Group Holdings Ltd (SGX:D05) HEFFX Highlights The Development Bank of Singapore (DBS) expects policy fine-tuning from the Indian government — on the lines of the Goods and Services Tax (GST) — in coming weeks. According to DBS, incoming high-frequency data are likely to improve. The index of industrial production for August — due this […]
Bank of America Corp (NYSE:BAC) Trading Outlook Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are trending. Note: this chart shows extraordinary price action to the upside. By the way, prices are vulnerable to a correction towards 24.63. The projected upper bound is: 26.81. The projected lower bound […]
Bank of America Corp (NYSE:BAC) HEFFX Highlights Bank of America plans to close another Des Moines area branch. The company said recently it will shutter the office at 501 E. Army Post Road in Des Moines on Nov. 14. “We are consolidating locations,” said Diane Wagner, company spokeswoman. More people are doing their banking online […]
Commonwealth Bank of Australia (ASX:CBA) HEFFX Highlights Last AGM season, the Commonwealth Bank was one of a record number of companies to receive a ‘first strike’ against its remuneration report. What annoyed shareholders was a proposal to move towards ‘soft’ unquantifiable targets for huge bonuses for chief executive Ian Narev. Since that meeting last November, […]
Wells Fargo’s (NYSE:WFC) O & D’s Must Face Shareholder Suit $WFC A federal judge said current and former Wells Fargo & Co. (NYSE:WFC) O & D’s (officers and directors), including CEO Tim Sloan, must face nearly all of a lawsuit by shareholders seeking to hold them personally liable for sales abuses and the creations of […]
DBS Group Holdings Ltd (SGX:D05) Goes Digital In August, DBS took its latest step in digital banking with the launch of its mobile-led digibank business in Indonesia. Like its landmark offering in India last year, it is branchless and paperless, making heavy use of biometrics and artificial intelligence. The jury is still out on how […]
Commonwealth Bank of Australia (ASX:CBA) NZ Chief Executive To Retire The chief executive of the Commonwealth Bank’s New Zealand subsidiary, ASB Bank, will retire at Easter next year. Barbara Chapman has held the role since April 2011. ASB, fully-owned by CBA, is looking for a replacement. Ms Chapman, 57, says being ASB chief executive has […]
DBS Group Holdings Ltd (SGX:D05) HEFFX Highlights Chubb Limited announced today that it has entered into a 15-year distribution agreement with DBS Bank, the largest banking group in Southeast Asia. Under the terms of the agreement, Chubb will distribute general insurance products on an exclusive or preferred basis through multiple DBS banking channels, including in-branch […]
Bank of America Corp (NYSE:BAC) Chooses Executive To Run Post-Brexit EU Hub Bank of America Merrill Lynch is to relocate one of its top executives from New York to Dublin to head up its planned post-Brexit EU hub. The bank said in July that it aims to merge its existing Irish banking subsidiary with its […]
United Overseas Bank Ltd (SGX:U11) HEFFX Highlights Deputy chief inspector of the State Bank of Việt Nam Phạm Huyền Anh (second right) on Tuesday granted business licence to the Singapore’s United Overseas Bank Limited (UOB). — Photo SBV Viet Nam News HÀ NỘI — Deputy chief inspector of the State Bank of Việt Nam Phạm […]
United Overseas Bank Ltd (SGX:U11) HEFFX Highlights Overall, the bias in prices is: Sideways. Short term: Prices are stalling. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 23.32. The projected upper bound is: 24.09. The projected lower bound is: 22.83. The projected closing price is: 23.46. United Overseas […]
HSBC Holdings plc (Hong Kong) (HKG:0005) HEFFX Highlights HSBC has admitted it was “wrong” to predict a deep dive in the value of the pound this year, as the banking giant’s bearish currency analysts were forced to revise up their forecasts. The bank had previously said sterling might end the year at $1.20 and parity […]
Bank of China Ltd (HKG:3988) HEFFX Highlights A Bank of China executive has backed the City of London to help manage the risk posed by Beijing’s mammoth infrastructure programme, the belt and road initiative. Sun Yu, general manager of the bank’s London branch, said the capital’s powerhouse financial sector could be a “solution provider” for […]
Bitcoin’s Rally Flying in the Face of Central Bank Regulation $BTCUSD Wednesday, Bitcoin is trading at 3938+, rising about 20% from the lows marked last Friday, as concern eases that a crackdown by Chinese regulators will hinder the growth of the alternative method of exchange. After marking a record high at 4,921 on 1 September, […]
Cryptocurrency Crackdown: Swiss Shut Down ‘Fake’ e-Coin Switzerland’s financial watchdog closed down the provider of a fake cryptocurrency and is investigating around 12 other possible fraud cases, in the latest clamp-down on the risks involving virtual money. The move by the FINMA watchdog comes on the heels of Chinese authorities’ ordering Beijing-based cryptocurrency exchanges to […]
Bitcoin, from Curiosity to Household Word $JPM, $BTCUSD The Bank for International Settlements (BIS) said Monday, that the world’s central banks cannot ignore the growth in cryptocurrencies and may at some point have to consider whether it makes sense for them to issue their own digital currencies, “Whether or not a central bank should provide […]
Bank of America Corp (NYSE:BAC) HEFFX Highlights Bank of America is suing the U.S. government for $199.8 million the bank says it’s owed in interest it paid to the Internal Revenue Service. The suit, filed Wednesday in federal court in the Western District of North Carolina, centers on interest the Charlotte-based bank said it was […]
China’s FDI Dives After PBOC Curbs China’s investment in other countries has taken a deep dive since Beijing tightened controls to cool surging spending on assets deemed unneeded for Chinese economic development. Outward investment, aka FDI (foriegn direct investment), in the 1st 8ht months of this year fell 41.8% rom a year earlier to $68.7-B, […]
Cryptocurrency Crackdown Sparks a Rush to Gold $BTCUSD, $GLD, $BAC Market guru Mark Mobius said he is sensing danger in the explosive growth of cryptocurrencies. Governments will begin clamping down on digital currencies because of their use in illicit financing, with terrorist groups to drug dealers contributing to their rise, Mr. Mobius, Executive Chairman at […]
Gold Marks a Fresh 2017 High, Stocks Drop on NKorea Tensions $GLD NKorea launches or threatens to launch a missile, Gold rises, stocks fall, things calm down and stocks make up their losses, what has been a recurring story YTD. The Big Q: Is it different this time? The Big A: After NKorea said it […]
The Commonwealth Bank has responded to revelations it failed to monitor transactions in the USA, Asia and Europe. An internal review of the bank’s compliance with Australian and global anti-money laundering and counter terrorism laws reportedly showed large-scale failures in transaction monitoring across a multitude of businesses around the world, according to Sky News Business. Sky […]
Shares in Australia and New Zealand Banking Group (ASX: ANZ) climbed 1.3 per cent in morning trade after the bank revealed a cash profit of $1.79 billion for the quarter ending June 30, 2017. The cash profit is up 5.3% or 0.3% before provisions for bad debts, with total revenues for the quarter down 0.3%. The group’s net […]
After dropping as low as $29.55 in early June, the Westpac Banking Corp (ASX: WBC) share price has gone on an impressive run and reached as high as $32.74 last week. By comparison, the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has been flat during the same period. Is it too late to buy Westpac […]
The Australian community’s trust in the banking system has been damaged in recent years, and CBA in particular has been negatively impacted by a number of issues that have affected the reputation of the bank. Treasurer Scott Morrison said there had been more than 12 compliance “issues” at the bank since 2008, and the board and […]
DBS Group Holdings Ltd (SGX:D05) HEFFX Highlights DBS Bank announced on Monday (Aug 21) it is investing S$20 million over the next five years in a broad-based programme to equip its 10,000 Singapore-based employees with skills in digital banking and emerging technologies. Singapore’s biggest bank said the move supports Prime Minister Lee Hsien Loong’s call […]
China Seeks Greater FDI for Belt and Road Initiative The Global Manufacturing and Industrialisation Summit, GMIS, has hosted an event to examine China’s grand plans China Manufacturing 2025, CM2025, and the Belt and Road Initiative, BRI, and the impact they may have on both its labour force and the existing supply chains. The half-day conference, […]
DBS Group Holdings Ltd (SGX:D05) HEFFX Highlights DBS Bank will be investing more than S$20 million over the next five years in a programme that will train its 10,000 employees in Singapore in digital banking skills and technologies. The move is in support of Singapore’s vision to be a Smart Nation which Prime Minister Lee […]
Bank of America Corp (NYSE:BAC) HEFFX Highlights Goldman Sachs Group Inc, JPMorgan Chase & Co. and four other investment banks are conspiring to control the more than $1 trillion (Dh3.67 trillion) market for lending stocks, according to a federal lawsuit. The complaint by the Iowa Public Employees Retirement System and two other government pension plans […]
Commonwealth Bank of Australia (ASX:CBA) HEFFX Highlights Five customers of the Commonwealth Bank allegedly financed terrorism through six transactions using intelligent deposit machines, according to the financial intelligence agency AUSTRAC. AUSTRAC chief declined to declare confidence CBA was now complying with anti-money laundering laws Westpac, NAB and ANZ given an “all clear” Careful consideration given […]
Commonwealth Bank of Australia (ASX:CBA) HEFFX Highlights The chief executive of one of Australia’s biggest banks will resign next year, as the lender struggles with accusations that criminals used its cash machines to launder nearly $35 million. Catherine Livingstone, chairwoman of Commonwealth Bank of Australia, said in a news release that Ian Narev, 50, who […]
United Overseas Bank Ltd (SGX:U11) HEFFX Highlights Losses in the local banks again weighed down on the Singapore market, which lost ground for the second straight day. The benchmark Straits Times Index (STI) shed 15.98 points, or 0.48 per cent, to 3,278.95, while overallon bourse came up to just 942 million shares worth S$1.1 billion. […]
Bank of America Corp (NYSE:BAC) HEFFX Highlights Bank of America is the latest financial institution to jump into the premium credit card arena. And, although these cards are competing for the same big-spending, credit-worthy card holders, this card reserves the best perks for those with bank loyalty. The Premium Rewards card from Bank of America, […]
Commonwealth Bank of Australia (ASX:CBA) HEFFX Highlights At long last, the buck at the Commonwealth Bank has finally stopped at the boss’ door. The AUSTRAC money laundering disaster was a scandal too far and something had to give. Ripping off customers in your financial planning and insurance divisions is one thing, putting the community at […]
Commonwealth Bank of Australia (ASX:CBA) HEFFX Highlights The head of Australia’s Commonwealth Bank will step down by the middle of next year, the firm has said. Chief Executive Ian Narev will retire after six years at the helm of Australia’s biggest mortgage lender. It comes amid pressure from regulators over 53,700 alleged breaches of anti-money […]
DBS Group Holdings Ltd (SGX:D05) Building Online Market For Cars Singapore’s DBS Bank is taking advantage of new regulatory freedoms to launch an online marketplace for people to buy and sell cars. Working with established players sgCarMart and Carro, the bank has already put up 3500 direct-owner car listings on DBS Car Marketplace. Sellers […]
Bank of America Corp (NYSE:BAC) HEFFX Highlights Bank of America Corp. is preparing to join the premium rewards card fray, planning a new twist on hot products like the Sapphire Reserve card from J.P. Morgan Chase & Co. Bank of America BAC, -0.64% is the last of the four largest U.S. credit-card issuers to enter […]
DBS Group Holdings Ltd (SGX:D05) HEFFX Highlights It is an interesting time within Asia’s wealthy and technologically sharp financial sector. Developments in financial technology (fintech) are not just enhancing banking services, but replacing them completely. Retail financial services are being further digitised via mobile wallets and payment applications, while equity crowdfunding and online lending platforms […]
A short time ago, the Aussie was at 0.7871, down half a per cent for the session. The chart blow is showing a steady sell-off. The interesting thing is there’s no clear reason for the move, although global markets have moved to a risk-off tone as we await Chinese inflation data soon. The sell-off was […]
Bank of America Corp (NYSE:BAC) HEFFX Stands On $30 Target Jonathan Yalmokas, a top Wall Street executive who specializes in servicing hedge funds, has changed his mind about joining RBC Capital Markets and is headed to Cantor Fitzgerald instead. Yalmokas resigned as the head of prime brokerage for the Americas for Bank of America Merrill […]
BRICS Set To Play its Role in Global Governance The 9th BRICS Summit in Xiamen opens in early September when the organization’s role in global governance, a faltering economic recovery and setbacks in globalization will be the issues of greatest concern. “BRICS: stronger partnership for a brighter future” will bring together the leaders of Brazil, Russia, […]