News 

Save on power banks and re-charge your devices anywhere you go

“Amazon has plenty of power banks on sale today to keep just about anything juiced up” writes Carlos Cadorniga for mashable.com. This smartphone power bank doesn’t heat up when in use, so overheating shouldn’t be an issue.Banish this forever with a power bank to keep you charged.For tablet and smartphone users, this power bank has got you covered. Source: mashable.com Share This:

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Barclays Chief Executive Staley Fined Over Whistle-Blower Scandal

“British bank regulators on Friday fined James E. Staley, the chief executive of Barclays, over his attempt to unmask a whistle-blower within the bank” writes Kate Kelly for nytimes.com. But Barclays said the regulators did not demand that he resign, nor that he acted with a lack of integrity or was not fit to remain the bank’s chief executive.The bank, however, said it would continue to stand by its top executive, who has been tasked with bringing stability to the three-centuries-old institution after years of management turmoil. Source: nytimes.com Share This:

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Tax law boosts bank returns

“So have the banks finally turned the corner?” writes Michael Rapoport for marketwatch.com. But that 13% would have been 11.8% without the earnings boost of more than $2.8 billion the six banks collectively received because of the decline in their tax rates from a year ago, driven by the new tax law.While the banks’ first-quarter ROEs were strong, a significant chunk of the strength stemmed not from growth in the banks’ operations, but from the sharply lower tax rates they’re now enjoying because of the federal tax overhaul enacted in…

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New York governor presses banks, insurers to weigh risk of NRA ties

“NEW YORK (Reuters) – New York Governor Andrew Cuomo on Thursday ramped up pressure on banks and insurers to revisit whether their ties to the National Rifle Association and other gun rights groups harm their reputations and the public interest” writes Midwest Communications Inc for 95kqds.com. The governor directed New York’s Department of Financial Services to urge state-chartered banks and the more than 1,400 insurers it regulates to review whether their ties to the NRA and similar groups sends the “wrong message” to clients and communities. Source: 95kqds.com Share This:

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Crypto News 

Banks’ Legacy Systems Are Roadblocking Blockchain Adoption

“Today (Thursday, April 19), IntellectEU announces the rollout of Catalyst, a solution to help financial services providers integrate blockchain solutions with their own back-office systems” reports pymnts.com. Gradually, some banks, like Santander, are rolling out working blockchain tools.According to Hanna Zubko, CEO of IntellectEU, banks may not be struggling with experimenting with blockchain, but they are struggling with the actual implementation of these tools.At the same time, Zubko said, blockchain opens the door to new revenue streams.This disconnect between traditional banks’ interest in FinTech innovation and actual implementation of digitized…

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Brokers News 

Why are Tier 1 banks so afraid of direct FX counterparties? Bank of England gives first ever settlement account to non-bank firm

“Indeed, so difficult is the maintenance of prime brokerage agreements between the Tier 1 bank and non-bank OTC derivatives business that only a handful of genuine prime of prime brokerages exist to this day” reports financefeeds.com. This direct settlement agreement represents the very first of its kind globally, with Transferwise now positioning itself as the first non-bank payment service provider to be granted a settlement account with the Bank of England’s Real Time Gross Settlement (RTGS) system.This has created more than a degree of nervousness among non-bank institutional liquidity providers,…

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Alarm Bells Begin To Ring On The Financial Risks Of Climate Change

“The alarm bells are beginning to ring in the financial world, and central banks are beginning to catch-on” writes Frank Van Lerven for huffingtonpost.com. Bank of England Governor Mark Carney recently warned of the “catastrophic impacts” climate change could have for our financial system.Central banks have taken some commendable steps to address financial climate risks. If not, climate change could make the devastation of the 2008 financial crisis seem like a walk in the park.In fact, many central banks’ portfolios are also highly skewed towards carbon intensive sectors, leaving them…

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News Stocks 

Jump on this opportunity to buy Wells Fargo’s stock on sale

“Wells Fargo is on sale, and a few years from now you may look back and celebrate the opportunity or regret that you missed it” writes Investing Columnist for marketwatch.com. Wells Fargo has also been, by far, this year’s worst stock performer, as the company’s scandals have taken their toll. Don’t miss: New accounting rule raises revenue for big banks, but not all are highlighting the change. But the restriction on growing its assets will mean even more excess capital for Wells Fargo, which can feed more stock buybacks and…

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