19 Aug 2004 10:38 AM

One of the largest U.S. mortgage finance companies Freddie Mac on Wednesday announced it might face the U.S. Securities and Exchange Commission’s civil action “for possible violations of securities laws”.

19 Aug 2004 09:09 AM

On Wednesday bank of England held monetary policy meeting discussing potential raising interest rate. As it was said in its minutes MPC voted unanimously to raise rates by a quarter point to 4.75 per cent instead of expected half a percentage point.

19 Aug 2004 05:34 AM

A global banking group HSBC took out from the battle for the $10bn Japanese consumer finance company Takefuji that dwindles down its intention to get share of the country’s lucrative consumer lending market.

18 Aug 2004 07:18 AM

Mortgage application activity in U.S. rose for the week ending August 13 by 11.9% to 689.4 from the previous week’s 616.1. Thirty-year mortgage rates dropped to the lowest level in several months, while refinancings jumped.

18 Aug 2004 05:18 AM

U.S. fund management company Capital Research and Management has lifted its investments into the Japanese bank UFJ in order to become its second largest shareholder. This event is connected with the support of bank’s merging with MTFG given by overseas investors.

17 Aug 2004 07:43 AM

New Internet-based systems and software now allow corporations to make centralized payments without using bank’s services. That will soon dwindle down banking role in treasury management.

16 Aug 2004 05:17 AM

U.S. bank Morgan Stanley, this year Europe’s IPOs leading underwriter, collected over $3.1 billion in fees (within the total amount of $73.6 billion) of initial stock sales.

13 Aug 2004 05:13 AM

The Bank of England indicated interest rates to be close to peak. Before the end of next year only one or two rises are expected, it notes.

12 Aug 2004 03:38 AM

On Tuesday the U.S. Federal Reserve lifted its interest rate by a quarter point to 1.5 per cent. U.S. economic decline is determinative in tightening monetary policy.

12 Aug 2004 03:35 AM

According to the recent monthly bulletin of the European Central Bank, released on Thursday, inflation rate in EU will probably exceed 2 per cent for the rest of this year and the first few months of 2005. The inflation is mainly caused by raising oil prices.

11 Aug 2004 11:07 AM

Second-quarter profit of UBS AG, the biggest money manager for the rich in the world, rose 28 percent on private banking fees. Still, its revenue may decline in the second half as stock markets limit investment-banking business.

11 Aug 2004 11:00 AM

The record profit of Postbank, upper-lister of the year at Germany stock market, is falling down harshly, its shares fall below their issue price. The situation is queer, because Postbank is one of only four initial public offerings to have taken place in Germany this year

09 Aug 2004 04:33 AM

A new UK bank will be open in September especially to accord with the specific of Islam. It is going to solve a problem with one of the Koran’s dogmas, which strongly prohibits to use (give or take) money at interest, what conflicts with whole banking system not only in Britain. Population, which includes approximately 2 million

05 Aug 2004 05:37 AM

German bank HVB second quarter pre-tax profit rose, as loan provisions fell and net interest income rose 0.7 percent from a year ago, or 13.1% from the first quarter, to 1.45 billion euros. Pre

05 Aug 2004 04:43 AM

U.K. Barclays bank said today pre-tax profits rose 23% to 2.41 billion pounds, with provisions down 10% to 589 million pounds and dividend up 17% to 8.25p, according to CBSMarketWatch. Analysts had been expecting pre-tax profits between 2.02 billion and 2.27 billion pounds. Operating expenses rose 15% to 3.91 billion pounds