Banking Industry Jitters
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Norges Bank Holds Rates, Hints at Later Cut
Norway’s central bank held its key policy rate at 4.5% and reiterated that it was likely to stay at that level for some time, as high wage growth and a weak krone keep inflation elevated.The Wall Street Journal - World -
Bank holiday weather: Will it be warm or wet?
It's been warming up this week but could rain spoil your plans for the long weekend?BBC News - Top stories -
Danger and opportunity for news industry as AI woos it for vital human-written copy
With large language models needing quality data, some publishers are offering theirs at a price while others are blocking access. OpenAI, the developer of ChatGPT, knows that high-quality data matters in the artificial intelligence business – and ...The Guardian - World -
The Scariest Job in the Music Industry Is Hating a Taylor Swift Album
Critics can face intense backlash from Swifties for less-than-glowing reviews.The Wall Street Journal - World -
Warren Buffett says AI scamming will be the next big 'growth industry'
Artificial intelligence has both "enormous potential for good and enormous potential for harm," the investing guru said during Berkshire's annual meeting.CNBC - Business -
UK flower industry thrown into chaos by new Brexit border checks
Firms said food and plant checks and Latin names causing costly delays with lorries waiting hours in first week of post-EU regime. Of all the effects of Brexit, probably the least anticipated was that flower exporters and customs officials would ...The Guardian - World - United Kingdom -
Danske Bank Outlook on Track as Demand Sustained
Danske Bank backed its full-year guidance after reporting in-line first-quarter earnings on good demand for its products, efficiency gains and strong credit quality.The Wall Street Journal - World -
Weaker-Than-Expected Payrolls Push Down Dollar
The dollar fell in a week when the Fed was perceived as not too hawkish—after Chair Powell kept a rate hike off the table— and payrolls surprised to the downside, for a change.The Wall Street Journal - World -
Cryptofinance: Stablecoins encroach on shadow banking system
Plus, CZ gets four months and outflows from bitcoin ETFsFinancial Times - World - Crypto -
Danske Bank Outlook on Track as Demand Sustained
Danske Bank backed its full-year guidance after reporting in-line first-quarter earnings on good demand for its products, efficiency gains and strong credit quality.The Wall Street Journal - Business -
How divided is the Bank of England’s policy committee?
Market Questions is the FT’s guide to the week aheadFinancial Times - World -
AI engineers report burnout and rushed rollouts as 'rat race' to stay competitive hits tech industry
AI workers across the tech industry told CNBC that the pressure to roll out features and products at breakneck speed has come to define their jobs.CNBC - Business -
3 catalysts we learned from earnings that should push our industrial stocks higher
Artificial intelligence, destocking, and pricing emerged as themes and reasons for optimism.CNBC - Business -
Agustín Carstens: ‘the Basel regime has been very good for the banks’
The BIS head on making global banking betterFinancial Times - World -
Texas Ban on 'Woke' Banks Opens Door for Smaller Firms
The political conflict over socially conscious finance has Wall Street heavyweights pulling back in Texas, the nation’s top issuer of state and local debt, with $42 billion last year.The Wall Street Journal - World - Texas -
Investors Were Burned by European Banks for Years---Until Now
After years in the doldrums, European banks have cleaned up their balance sheets. The result: Stock prices have surged.The Wall Street Journal - World -
Israeli forces kill five people in raid near West Bank’s Tulkarm
Hamas confirms four of five people killed during raid in village of Deir al-Ghusun were from its armed wing. Middle East crisis – live updatesIsraeli forces killed five Palestinians in an overnight raid in a village near the city of Tulkarm in the ...The Guardian - World - Israel -
Bank Indonesia ‘ready for the worst’ in face of hawkish Fed and currency volatility
Senior monetary official says central bank prepared to do more after intervening to shore up rupiahFinancial Times - World -
Societe Generale chief defends controls after Hong Kong trader’s unauthorized bets
The French banks both outstripped analysts’ expectations, causing their share prices to surgeMarketWatch - Business - Hong Kong -
Inside US airport terminals, banks are merging elite travel clubs with branch offices
Airport terminal bank branches with airline club amenities are growing as financial brands seek to catch the attention of travelers and remote workers.CNBC - Business -
Private equity firms step up plans to edge banks out of low-risk lending
Apollo issues record $40bn of loans in the first quarter, mirroring growth at rivals including KKR and BlackstoneFinancial Times - Business -
The CEO Who Hired His Wife, Gave His Dog a Title, and Brought Down a Bank
Vernon Hill, the builder of Commerce Bank and Metro Bank, was also behind toppled Republic First.The Wall Street Journal - World -
Standard Chartered posted a rise in first-quarter net profit due to higher trading income, despite lower earnings from the bank's lending business.
Standard Chartered posted a rise in first-quarter net profit due to higher trading income, despite lower earnings from the bank’s lending business.The Wall Street Journal - World -
Chinese leader Xi Jinping's first visit to Europe in nearly five years is shaping up as a test of the continent's willingness to confront Beijing over its support of Russia's invasion of Ukraine as well as Chinese trade policies that have eviscerated critical European industries.
Chinese leader Xi Jinping’s first visit to Europe in nearly five years is shaping up as a test of the continent’s willingness to confront Beijing over its support of Russia’s invasion of Ukraine as well as Chinese trade policies that have ...The Wall Street Journal - World - China -
A Justice Department probe into TD Bank's internal controls focuses on how Chinese crime groups and drug traffickers used the Canadian lender to launder money from U.S. fentanyl sales.
A Justice Department probe into TD Bank’s internal controls focuses on how Chinese crime groups and drug traffickers used the Canadian lender to launder money from U.S. fentanyl sales.The Wall Street Journal - World