Naureen Hassan, a finance veteran with more than 20 years of experience, including roles at Morgan Stanley and Charles Schwab, was appointed first vice president and chief operating officer at the Federal Reserve Bank of New York, the bank announced on Wednesday.
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LONDON (Reuters) - Federal Reserve: 1, bond markets: 0. That’s more or less where it stands after Round One in the tussle over borrowing costs. But Round Two, and perhaps even Round Three, are inevitable, and they may require policy action rather than just words.
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo
February’s bond selloff sent U.S. 10- and 30-year Treasury yields more than 30 basis points higher while governments from France to Australia saw their borrowing costs jump. Stock markets, which for years surfed the cheap-money wave, tumbled.
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LONDON (Reuters) - With the second wave of the pandemic came the second lockdowns - and now evidence of the second household savings stash, too. Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016. REUTERS/Jason Lee/Illustration/File Photo
But even as expected spending of trillions of dollars of these “excess” savings stokes economic recovery forecasts, inflation fears and financial markets, some economists suspect large chunks of what look like precautionary buffers may outlive the pandemic itself - or least not find their way to the shops.
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LONDON (Reuters) - Finance minister Rishi Sunak delivered what he hopes will be a last big spending splurge to get Britain’s economy through the COVID-19 crisis, and announced a corporate tax hike from 2023 as he began to focus on the huge hit to the public finances.
Britain s Chancellor of the Exchequer Rishi Sunak holds the budget box as he poses with Chief Secretary to the Treasury Steve Barclay, Exchequer Secretary to the Treasury Kemi Badenoch, Financial Secretary to the Treasury Jesse Norman, Economic Secretary to the Treasury John Glen, Minister of State for Efficiency Theodore Agnew, PPS to Treasury Claire Coutinho, PPS to Chancellor James Cartledge, PPS to Chief Secretary Craig Williams and Government Whip and Lord Commissioner of HM Treasury David Rutley at 11 Downing Street, London, Britain, March 3, 2021. REUTERS/Toby Melville/Pool
De Cos said harm to financial sector needs to be avoided Government considers extending forced insolvency proceedings (Adds details on bankruptcy proceedings, comments from Bank of Spain Governor)
MADRID, March 3 (Reuters) - Constructing an efficient aid package to help small companies reduce excess debt they took on to cushion the effects of COVID-19 has not been an easy task, Bank of Spain Governor Pablo Hernandez de Cos said on Wednesday.
The government is working on an 11 billion euro ($13.2 billion) package on top of existing support measures to help Spain’s small and mid-sized companies but has not given details.
“Defining what is a sustainable or a non-sustainable (company), and what is a viable and non-viable (company) is by no means obvious,” De Cos told a financial event hosted by the Madrid’s Universidad Autonoma.