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Banking

Canada banks’ quarterly profits seen hit by rising provisions

A sign for the Bank of Montreal in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsTORONTO, Nov 27 (Reuters) - Canada's big banks are likely to wrap up a challenging financial year with another quarter of declining profits and rising bad debt provisions amid a slowing economy.The big six banks have axed thousands of jobs this year as investment banking fees lagged and business south of the border weakened due to the U.S. regional banking crisis.While high interest rates have boosted the banks' lending margins, residential...
Banking

Political noise distracts central Europe’s rate-setting

People walk in front of the Polish Central Bank (NBP) building in Warsaw, Poland, September 8, 2022. REUTERS/Kacper Pempel/File Photo Acquire Licensing RightsCentral bank governors under fire from politiciansHungarian government pushes for sharp rate cutsIncoming Polish government seeks to oust governorPoland, Hungary facing years of high inflationWARSAW/BUDAPEST, Nov 27 (Reuters) - The central bank governors of Poland and Hungary are caught up in noisy disputes with opponents over their rate-setting policy, raising new hazards for investors willing to brave central Europe's bitterly polarised politics.In Poland, governor Adam Glapinski stands accused...
Banking

European shares rise to fresh two-month peak as oil majors rally

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker//File Photo Acquire Licensing RightsNovo Nordisk invests $2.3 bln to boost obesity drug productionEuro zone business activity falls in NovECB minutes: Policymakers cautiously optimistic about inflationSTOXX 600 up 0.3%Nov 23 (Reuters) - European shares rose on Thursday, supported by gains in energy stocks, while investors digested minutes of the European Central Bank's (ECB) October meeting where policymakers were cautiously optimistic about inflation falling in the euro zone.The pan-European STOXX...
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