Tag: Banking
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Citigroup profit drops on higher expenses
Citigroup Inc reported a 26% slump in fourth-quarter profit. This is because it took a hit from higher expenses and weakness at its consumer...
Bankia insurance business taken over by Caixa Bank from Mapfre
Spanish insurer Mapfre said that it had sold its stake in Bankia’s insurance business to Caixabank in a 571 million-euro ($645.12 million) deal. This is although...
$61.5 MLN fined by StanChart for misreporting liquidity position
The Bank of England said that it was fining Standard Chartered 46.55 million pounds ($61.51 million). This is for misreporting its liquidity position to the regulator...
British banks lift FTSE 100 after BoE raises rate
Shares in British banks rallied, lifting the blue-chip FTSE 100. This is after the Bank of England stunned investors with an interest rate hike. This is the...
BoE becomes first major central bank to raise rates since the pandemic
The Bank of England became the world’s first major central bank. They have raised the interest rates since the pandemic hammered the global economy....