For the ‘unbanked’, mobile money still has some way to go
(Reuters) – Globally, an estimated 2.5 billion people don’t have a bank account, but many own a cellphone, fuelling a race to turn these phones into bank books for the ‘unbanked’ to store cash, manage their accounts, make purchases and send and receive…
Exclusive: Commerzbank nears $1.4 billion-plus settlement with U.S. – sources
NEW YORK (Reuters) – Commerzbank AG is nearing an agreement to pay U.S. authorities more than $1.4 billion to settle allegations it violated U.S. sanctions and a separate investigation that stemmed from the Olympus Corp accounting scandal, according to…
Draghi ties ECB’s Greek funding to bailout compliance
NICOSIA/ATHENS (Reuters) – The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying with its bailout program and is on track to receive a favorable review, ECB President Mario Draghi said on Thursday.
BofA’s $8.5 billion mortgage bond settlement wins approval
NEW YORK (Reuters) – A New York state appeals court on Thursday approved Bank of America Corp’s $8.5 billion settlement with mortgage securities investors in its entirety.
Upbeat ECB ready to start printing money next week
NICOSIA/FRANKFURT (Reuters) – The European Central Bank said it will start printing money to buy bonds next Monday and delivered a robust economic outlook that will make it hard to extend the plan beyond its envisaged Sept. 2016 end-date.
U.S. airline unions join campaign against Gulf carriers
(Reuters) – U.S. airline unions have added their voices to their employers’ escalating campaign to persuade the United States to alter commercial flying agreements with Qatar and the United Arab Emirates amid allegations of unfair subsidies.
Europe firms may draw fire by joining buyback boom
LONDON (Reuters) – European companies are likely to join a boom in share buybacks as central bank cash floods the economy, risking criticism that they are recycling capital rather than investing to promote growth.
Soft U.S. data hints at near-term hiccup in economic growth
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment aid last week rose to its highest level since May, but economists dismissed the increase as weather-related and said the jobs market remained solid.
Costco’s quarterly profit tops estimates on tax benefit
(Reuters) – Costco Wholesale Corp reported a better-than-expected quarterly profit, helped by a tax benefit related to its special cash dividend last month.
U.S. factory orders fall for sixth straight month
WASHINGTON (Reuters) – New orders for U.S. factory goods unexpectedly fell in January, posting their sixth straight monthly decline, a sign of weakness in the manufacturing sector.
