Banks should restore their
customer confidence "as soon as possible" to overcome damage to
their reputations associated with financial malpractice,
European Central Bank policymaker Pablo Hernandez de Cos said on
Banco do Brasil SA
on Thursday reported a 20.3% rise in fourth-quarter profit
helped by higher consumer lending and lower tax expenses, with
the bank also saying it could achieve double-digit net income
growth in 2020.
Companies that have spent
money on a major telecoms conference in Barcelona that has been
cancelled after mass withdrawals due to the coronavirus outbreak
cannot expect compensation under the organisers' standard
insurance, they said on Thursday.
As an outside critic of the
Federal Reserve, conservative economist Judy Shelton has slammed
the central bank's massive $4.2 trillion balance sheet as
distorting financial markets and "largely benefiting people who
have hefty stock-market portfolios."
Former U.S. senator Alan Simpson
summarized the argument well: seniors fighting Social Security
benefit cuts were nothing more than “greedy geezers” stealing
from young people “who are going to get gutted.” The Wyoming
Republican's memorable phrase from 2012 is a good example of the
colorful language of so-called intergenerational warfare...
The Chinese province at the
epicentre of the coronavirus outbreak reported a record rise in
deaths and thousands more cases on Thursday under a new
diagnostic method, raising fresh questions about the scale of
Most Southeast Asian stock markets closed
lower on Thursday as a sharp rise in new coronavirus deaths and
infections shattered hopes that the virus outbreak had peaked.
Chinese province Hubei, which is at the epicentre of the
coronavirus outbreak, reported a record 242 deaths...