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U.S. bankers seize on repo-market stress to push for softer liquidity rules

2 days ago DieselGasoil Comments Off on U.S. bankers seize on repo-market stress to push for softer liquidity rules
WASHINGTON (Reuters) – Big U.S. banks are using the recent chaos in short-term funding markets as an opportunity to pressure the Federal Reserve to ease liquidity requirements they have long despised. JPMorgan Chase CEO Jamie Dimon speaks at the North America’s Building Trades Unions (NABTU) 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Read More

Fintech company Plaid discloses investments from Visa, Mastercard

4 days ago DieselGasoil Comments Off on Fintech company Plaid discloses investments from Visa, Mastercard
(Reuters) – Financial technology company Plaid Inc said on Monday that Visa Inc and Mastercard Inc were strategic investors in a $250 million round of Series C financing raised in December. The fintech startup, whose technology lets people connect their bank accounts to mobile apps like Venmo, did not disclose the size of Visa and Read More

Beleaguered U.S. energy shares soar after attacks on Saudi facilities

4 days ago DieselGasoil Comments Off on Beleaguered U.S. energy shares soar after attacks on Saudi facilities
(Reuters) – Shares of U.S. energy companies surged on Monday, as a jump in oil prices in the wake of attacks on Saudi Arabia’s oil facilities gave new juice to a sector that has been a chronic underperformer. FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, Read More

Wall Street set to open lower after Saudi attacks; energy stocks surge

4 days ago DieselGasoil Comments Off on Wall Street set to open lower after Saudi attacks; energy stocks surge
(Reuters) – Wall Street was set to open lower on Monday as the weekend attack on Saudi Arabian oil facilities knocked out 5% of the world’s supply, sparking concerns over global economic growth and heightening tensions in the Middle East. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in Read More

Aramco optimism fading for rapid output recovery

4 days ago DieselGasoil Comments Off on Aramco optimism fading for rapid output recovery
By Will Kennedy and Javier Blas on 9/16/2019 LONDON (Bloomberg) –Saudi Aramco officials are growing less optimistic that there will be a rapid recovery in oil production after the attack on the giant Abqaiq processing plant, a person with knowledge of the matter said. All eyes are on how fast the kingdom can recover from Read More

Futures down after Saudi attacks spark rush for safety

4 days ago DieselGasoil Comments Off on Futures down after Saudi attacks spark rush for safety
(Reuters) – U.S. stock index futures slipped on Monday after the weekend attack on Saudi Arabian oil facilities knocked out 5% of the world’s supply, sparking concerns over global economic growth and heightening tensions in the Middle East. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, Read More

Oil jumps the most ever after attack cuts Saudi supplies

5 days ago DieselGasoil Comments Off on Oil jumps the most ever after attack cuts Saudi supplies
By Serene Cheong and Tina Davis on 9/15/2019 SINGAPORE (Bloomberg) – Brent crude surged the most on record after a drone strike on a Saudi Arabian oil facility removed about 5% of global supplies. The benchmark oil futures jumped as much as $11.73/bbl to $71.95 as the market opened Monday in Asia, the biggest advance Read More

Attacks on Saudi oil risk lowering Aramco IPO valuation

5 days ago DieselGasoil Comments Off on Attacks on Saudi oil risk lowering Aramco IPO valuation
By Shaji Mathew, Filipe Pacheco and Sarah Algethami on 9/15/2019 DUBAI (Bloomberg) – As bankers discussed Saudi Aramco’s initial public offering at the Ritz Carlton hotel in Dubai last week, a drone attack was being planned to hit the heart of its operations over the weekend. It caused Saudi Arabia to halve its oil output Read More

Citigroup stands by card strategy despite economic clouds

1 week ago DieselGasoil Comments Off on Citigroup stands by card strategy despite economic clouds
NEW YORK (Reuters) – Some Wall Street analysts have begun to question whether Citigroup Inc’s (C.N) big bet on credit cards will backfire if the U.S. economy enters a recession, despite the bank saying it is underwriting responsibly. Balance transfer envelopes are pictured in a Reuters office in New York, U.S., September 5, 2019. Picture Read More

Record low rates deliver competitive advantages to Australia’s biggest banks: regulator

1 week ago DieselGasoil Comments Off on Record low rates deliver competitive advantages to Australia’s biggest banks: regulator
SYDNEY (Reuters) – Australia’s banking watchdog on Friday said record-low interest rates are likely to benefit the country’s “Big Four” lenders over their smaller counterparts due to their better capital position and access to cheaper funds. FILE PHOTO: A man uses his mobile phone as he leaves the Commonwealth Bank of Australia building in central Read More