Fed approves dividends and buybacks for 30 big banks
The Fed endorsed higher payouts and share repurchases for 30 leading U.S. banks, with Morgan Stanley receiving only conditional approval. Deutsche Bank and Santander U.S. units were rejected. The tests show banks hold ample capital to weather a severe downturn and keep lending.
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Washington
Federal Reserve
U.S
Fed
Morgan Stanley
Germany
Deutsche Bank
Spain
Santander
Jpmorgan Chase
Bank of America
Citibank
Wells Fargo
Daniel Tarullo
Congress
Consumer spending posts healthy May gain in US economy
Commerce Department shows consumer spending rose 0.4 percent in May after a 1.1 percent rise in April. Durable goods up 0.6 percent, non durables 0.5 percent, services 0.1 percent. Incomes rose 0.2 percent. Markets staged a Brexit influenced but improving rally, with global equities rebounding and the Dow and S&P turning positive for the year.
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Washington
Commerce Department
U.S
Michael Colega
TD Economics
Britain
European Union
Conference Board
University of Michigan
After Brexit markets brace for longer zero rates worldwide
Britons vote to leave the EU shakes markets and trims growth forecasts for Britain and the EU. Central banks likely hold or extend stimulus with zero or near zero rates as investors push back expectations for rate hikes. Demand for cheaper borrowing boosts loans to businesses, home buyers, and governments while savers endure minimal returns.
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Britain
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Europe
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Germany
Lehman
Lehman Bros
Holger Schmieding
Berenberg Bank
Bank of Japan
Bank of England
ECB
Swank
United States
Sung Won Sohn
California State University
Channel Islands
Bank For International Settlements
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