Specter of funding crunch looms over runs at China's small banks
Bundles of yuan notes were stacked high behind the counters of branches of Yingkou Coastal Bank earlier this month, as the northeast China lender fought off a run on deposits while on-site government officials battled rumors of a funding crunch. Yingkou was the latest small ...
Head of Rothschild in Russia pens fairy tales between flights
Giovanni Salvetti, the head of Rothschild in Russia and CIS, takes five flights a week in his job managing the bank's operations from Kazakhstan to Ukraine. In-between time, he has written a book of fairy tales for his children. "I did not decide to create a ...
How three women shattered glass ceilings to become the first female chief economists at global banks
There's a particular telephone conversation that HSBC Global Chief Economist Janet Henry has down pat. Here's how it goes: "You get a call from a headhunter," she says. Then Henry inevitably finds herself saying, "No, I'm not interested." But it doesn't end there. "They always ...
Plight of 'Mizuho refugees' stirs debate on banking services in Japan
Imagine wrapping up a tough work week and jumping into a three-day weekend. Maybe you just plan on lounging around at home with the air conditioner on at full blast. Or perhaps you’ll hit the road and head out of the city to get ...
Swiss 'real money' initiative fails after lack of support from cantons
A radical plan to upend Switzerland's financial landscape by barring commercial banks from creating money has been defeated after failing to win a majority of support from the Swiss cantons, Swiss broadcaster SRF said Sunday. The measure needed to secure a majority of Switzerland's 26 ...
Big U.S. banks accept OPEC was right as they embrace oil near $80
Wall Street's biggest banks have changed sides and are embracing a surge in oil prices. Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. have all issued a flurry of bullish forecasts in the past fortnight. They've abandoned their skepticism and are accepting ...
Is artificial intelligence killing Japan's banks?
As part of an ongoing series about artificial intelligence, the Asahi Shimbun on Jan. 11 published a story that asserts the financial industry has adopted AI more readily than any other. Because finance is a data-driven endeavor, designing AI software to do things such ...
Japan's financial crisis may seem like ancient history, but banks are now facing considerable challenges.
Mizuho mulls cutting 19,000 employees worldwide in 10-year cull
Mizuho Financial Group Inc. is considering cutting about 19,000 employees in Japan and abroad over a 10-year period, accounting for one-third of its entire labor force, a source familiar with the matter said Saturday. The reduction at one of Japan's mega-bank groups is in line ...
Regional banks pursuing mergers to ensure their survival should also scrutinize their operations to find areas where they can improve their performances.
Japan waking up to the problems of sleeping cash
In recent weeks there have been two well-reported robberies of people carrying large amounts of cash on the street. Thieves got away with ¥384 million after attacking a merchant in a Fukuoka parking lot. In Tokyo's Ginza district, a mugger managed to take ¥40 ...
China probes North Korea bank suspected of nuclear link: report
China is investigating executives of a North Korean bank believed to finance the illicit procurement of arms and materials related to the isolated country's banned nuclear program, South Korea's JoongAng Daily reported on Monday. China and the United States have agreed to step up cooperation ...
