Jul 22, 2014

FSA to boost bank, insurer oversight

The Financial Services Agency plans to integrate its inspection and supervisory policies to strengthen its oversight of banks, insurance firms and other financial institutions, according to informed sources. The agency will disclose the new policy by September, the sources said Monday. FSA officials in ...

U.S., Europe expand economic sanctions on Russia to hit key energy firms, banks

Jul 17, 2014

U.S., Europe expand economic sanctions on Russia to hit key energy firms, banks

Both the U.S. and European Union imposed new economic sanctions on Russia Wednesday, with President Barack Obama declaring that Russian leaders must see that their actions supporting Ukraine’s rebels “have consequences.” Though the American and European sanctions were coordinated, they nonetheless exposed fissures in ...

French bank BNP guilty of violating U.S. sanctions on Sudan, Cuba, Iran

Jul 1, 2014

French bank BNP guilty of violating U.S. sanctions on Sudan, Cuba, Iran

France’s largest bank, BNP Paribas, has agreed to pay nearly $9 billion to resolve criminal allegations that it processed transactions for clients in Sudan and other blacklisted countries in violation of U.S. trade sanctions, the Justice Department announced Monday. The bank pleaded guilty to ...

Mizuho most pessimistic of the big banks

May 15, 2014

Mizuho most pessimistic of the big banks

Mizuho Financial Group Inc. led the nation’s three biggest banks in forecasting a drop in earnings for this year as loan growth loses momentum and returns from stock investments wane. Japan’s third-largest lender by market value said net income may fall 20 percent from ...

Apr 26, 2014

U.S. expands probe into banks' hiring

U.S. government agencies that have been probing banks’ hiring of the children of powerful Chinese officials are expanding existing investigations in other industries across Asia to include hiring practices, four people familiar with the matter said. The Justice Department and the Securities and Exchange ...

Apr 9, 2014

Banks sue Olympus for ¥27.9 billion over fraud

Olympus Corp. said Wednesday it’s being sued by six banks for a total of ¥27.9 billion in damages, the largest amount among civil lawsuits filed against the camera and endoscope maker over a 13-year accounting fraud. The banks are seeking compensation for damages resulting ...

| Mar 21, 2014

Is bitcoin start of a financial revolution?

Bitcoin may not be the messiah of a new currency its hard-core fans yearn for, but it may herald the deeper financial revolution the Internet has been waiting for. While computers and smartphones have brought the Web to more than a third of the ...

New Fed Chairwoman Yellen keeps policy on track

Mar 20, 2014

New Fed Chairwoman Yellen keeps policy on track

New Federal Reserve Chairwoman Janet Yellen kept the central bank firmly on the path set by predecessor Ben Bernanke on Wednesday, shrugging off recent economic weakness as largely weather-caused. But she also took a crucial step to reshape how the Fed has signaled its ...