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bank Business cyber state Ukraine 

Ukraine central bank warns of new cyber-attack risk

August 18, 2017 By Natalia Zinets KIEV (Reuters) – The Ukrainian central bank said on Friday it had warned state-owned and private lenders of the appearance of new malware as security services said Ukraine faced cyber attacks like those that knocked out global systems in June. The June 27 attack, dubbed NotPetya, took down many Ukrainian government agencies and businesses, before spreading rapidly through corporate networks of multinationals with operations or suppliers in eastern Europe. Kiev’s central bank has since been working with the government-backed Computer Emergency Response Team (CERT)…

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bank debt Economy month PDVSA Top News 

Venezuela’s PDVSA prepares to meet foreign debt commitment

August 18, 2017 CARACAS (Reuters) – Venezuelan state oil company Petroleos de Venezuela (PDVSA) has initiated bank transfers to meet its foreign debt commitments for the month, the company said in a statement on Thursday.     PDVSA, the main source of foreign exchange earnings for the South American country, must pay more than $3.0 billion in debts in the remainder of 2017.     “Banking transfers corresponding to the interest on the PDVSA 2022 bond coupon of 12.75 percent for $191.3 million have already begun,” the company said. “Thus, the state shows its…

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bank Business month policy rates 

Fed policymakers grow more worried about weak inflation

August 16, 2017 By Lindsay Dunsmuir and Jason Lange WASHINGTON (Reuters) – Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate hikes until it was clear the trend was transitory, according to the minutes of the U.S. central bank’s last policy meeting. The readout of the July 25-26 meeting, released on Wednesday, also indicated the Fed was poised to begin reducing its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities. Last month’s meeting, which concluded with a unanimous decision to leave…

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bank debt economic growth Economy gas Top News 

Malaysia seen posting slightly slower second-quarter growth on softer domestic demand

August 17, 2017 By Joseph Sipalan KUALA LUMPUR (Reuters) – Malaysia’s economy is expected to have grown at a slightly slower pace in the second quarter due to weaker private consumption, even as trade remained robust. Southeast Asia’s third-largest economy likely grew 5.4 percent in April-May from a year earlier, easing from 5.6 percent in the first quarter, according to the median of forecasts by 12 economists polled by Reuters. Growth in the first quarter was the strongest in two years, but the pace has been expected to fade, Vaninder…

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attack bank Marcus Hutchins month Tech Top News 

British cyber researcher pleads not guilty to U.S. hacking charges

August 14, 2017 By Dustin Volz SAN FRANCISCO (Reuters) – British cyber security researcher Marcus Hutchins pleaded not guilty on Monday to federal charges he built and sold malicious code used to steal banking credentials. Hutchins, 23, rose to overnight fame within the hacker community in May when he helped defang the global “WannaCry” ransomware attack, which infected hundreds of thousands of computers in May and caused disruptions at factories, hospitals, shops and schools in more than 150 countries. He was arrested earlier this month in Las Vegas on unrelated…

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bank CBA Economy lawsuit replacement Top News 

Australia’s CBA says CEO Narev to stand down amid money-laundering scandal

August 14, 2017 By Paulina Duran and Byron Kaye SYDNEY (Reuters) – Commonwealth Bank of Australia CEO Ian Narev will retire by next June, Australia’s No. 2 lender said on Monday, after a week of damaging publicity about a money-laundering lawsuit led to calls for the long-serving chief to resign. Narev, 50, would be gone by the end of the current financial year after almost seven years in the job, a tenure marked as much by record profits as allegations of serious misconduct including insurance scams and poor financial advice….

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bank Business Wall Street Journal Wells Fargo WSJ 

Wells Fargo likely to appoint former community banker to head board: WSJ

August 10, 2017 By Dan Freed (Reuters) – Betsy Duke, a former Federal Reserve official and community banker from Virginia, is likely to become chairwoman of the board of Wells Fargo & Co , investors, analysts and two people with knowledge of board discussions told Reuters. On Thursday, the Wall Street Journal reported that current Chairman Stephen Sanger will step down by early September, with Duke likely to take over as chairwoman. Wells, the third largest U.S. lender by assets, has been wracked by a sales scandal that has grown…

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bank Economy energy month PPI Top News 

U.S. producer prices record biggest drop in 11 months

August 10, 2017 By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate hike. Other data on Thursday showed an increase in the number of Americans filing for unemployment benefits last week. The trend in weekly jobless claims, however, remained consistent with a tightening labor market. “Another twist of the screw tighter for this labor market but inflation is not able to gain…

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bank Business Mike Mayo ROE Wells Fargo Securities 

Citi stock to double in 4-5 years, says Mike Mayo

August 10, 2017 (Reuters) – Citigroup Inc’s stock price is likely to double in the next four to five years, banking analyst Mike Mayo wrote in his first note after joining Wells Fargo Securities. The Wall Street bank is expected to see the best improvement in return on equity (ROE) and cost of capital among its peers, according to Mayo, who joined Wells Fargo from CLSA Americas in June. Citigroup’s shares had risen 4.1 percent this year through Wednesday’s close. The lender’s ROE will improve to about 9 percent in…

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bank China Economy Top News 

China sets yuan midpoint at strongest in 10-1/2-months

August 10, 2017 SHANGHAI (Reuters) – China’s central bank on Thursday set the yuan midpoint at the highest level in 10-1/2 months, 6.6770 per dollar. It was the first setting stronger than the psychologically important 6.7 per dollar level since Sept. 30. Thursday’s official guidance was 305 pips or 0.46 percent firmer than the previous fix at 6.7075 per dollar. The move in the guidance was the biggest one-day strengthening, in percentage terms, since June 1. (Reporting by Winni Zhou and John Ruwitch) Powered by WPeMatico

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