Tag Archives: face

Bank deposits face competition from company NCDs

Banks are facing fresh challenges in mobilising deposits as their non-bank rivals are attracting savers with higher returns on bonds. Aggregate deposits of banks have shrunk by Rs 4410 crore in the fortnight ending March 15, and with about half-a-dozen NBFCs looking to mop up about Rs 3000 crore in non-convertible debentures (NCD), banks have their task cut out to ... Read More »

US Economy Will Face “Sharp” Slowdown In 2020, Says IMF Chief Economist

IMF chief economist said the slowdown is going to be sharper probably in 2020 than in 2019 (File) Washington: Americans will begin feeling the effects next year of a marked slowing in world economic growth but should be spared a new recession, the chief economist of the International Monetary Fund said in remarks published Sunday. “We  have long been predicting somewhat ... Read More »

Finance Chiefs Face Fresh Crisis Worries Amid Italy Turmoil

Global finance chiefs will be back in crisis-management mode this week as the Group of Seven grapples with the market shock waves from Italy’s political woes. Finance ministers and central bankers from the G-7 nations — who oversee almost half of the global economy — begin three days of meetings at the Canadian ski resort town of Whistler, British Columbia on Thursday ... Read More »

With GST, airlines might face taxation turbulence

While the GST is set to be in place from 1 July, lack of clarity on certain areas pertaining to airlines business have raised concerns of higher operational costs. Photo: PTI Mumbai: Airlines seem to be preparing for turbulence with the implementation of the goods and services tax (GST) regime as certain segments of aviation business, including movement of spare ... Read More »

Brexit economy: workers face squeeze but firms remain upbeat

Shoppers apparently shrugged off any worries about rising prices to keep spending in April. Photograph: Luke MacGregor/Reuters The Brexit squeeze on household budgets has intensified over the past month, but companies and investors remain cautiously optimistic about the economic outlook in the run-up to the election, a Guardian analysis shows. With a fortnight to go until the general election, the ... Read More »

Fiat Chrysler and Renault face diesel emissions probes

The UK Department for Transport has asked for details of a US probe into Fiat Chrysler diesel emissions software as a matter of urgency. The car maker has been accused of not telling authorities about software that could allow excess diesel emissions. The US Environmental Protection Agency (EPA) said 104,000 Jeep Grand Cherokees and Dodge Ram trucks were affected. The ... Read More »

RBS Irish unit sells problem loans with $2.8 billion face value

The Irish unit of Royal Bank of Scotland has sold non-performing loans with a face value of 2.5 billion euro (2.25 billion pounds) to private equity firm Cerberus, the bank said on Monday. The Project Oyster loan portfolio, a mixture of loans in the Republic of Ireland and Northern Ireland, is 71 percent business loans, 19 percent buy-to-let and 10 ... Read More »

UK finance firms face anxious year

More than four in 10 major financial services firms say their confidence has been knocked by the slowing global economy, Brexit fears and a slump in oil prices. In recent months 42% of major banks and insurers said their “confidence had diminished” because of this cocktail of ongoing uncertainties, according to a survey by Lloyds Bank. Only 3% of more ... Read More »

Tina Green to face questions from MPs over BHS collapse

Tina Green, the wife of billionaire businessman Sir Philip Green, has joined her husband in being called to face MPs on two select committees to answer questions about the collapse of BHS. Lady Green, a trustee of the company, and Sir Philip will be questioned by the work and pensions committee about where hundreds of millions of pounds went from ... Read More »

European banks face US capital hit unless rules converge

European banks may be forced to hold another $5bn of regulatory capital to trade equity options in the US unless transatlantic regulators can strike a deal to close a gap in markets rules. The stark warning from industry executives comes when many worry over further delays among regulators’ in completing a framework to monitor some of the world’s most actively ... Read More »