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Banks in Europe struggle to find talent with US rivals paying top dollar

Banks in Europe struggle to find talent with US rivals paying top dollar

Finance
European banks are finding it hard to recruit the right people due to new regulations and intense competition from some of their U.S. peers, industry insiders have told CNBC. "It is a vicious circle, isn't it?" said a senior executive at a European bank told CNBC who preferred to remain anonymous due to the sensitive nature of the topic. "You want to hire the right talent because you can see the business is suffering, but you don't get approvals for the headcount and when you finally do, you aren't able to match the salaries," they told CNBC. Pay in t...
RBI plans ‘umbrella organisation’ for urban cooperative banks

RBI plans ‘umbrella organisation’ for urban cooperative banks

Finance
The Reserve Bank of India plans to set up an “umbrella organisation” for urban cooperative banks (UCBs) to improve their operational and financial health as per global best practices. “A long-term solution to make the UCB sector financially resilient and to enhance the depositors’ confidence is to set up an umbrella organisation (UO) as prevalent in many countries,” RBI said on Thursday. Apart from extending liquidity and capital support, it will set up an information and technology infrastructure to enable the banks to widen services at a relatively lower cost. It may also offer fund management and other consultancy services. Another reason for the move is that the structure, size, lack of avenues for raising capital funds and limited area of operation of urban cooperati
Budget 2019: Govt wants banks to be profitable, efficient

Budget 2019: Govt wants banks to be profitable, efficient

Finance
Hours after India’s central bank eased operational curbs on three state-run lenders, interim finance minister Piyush Goyal told federal lawmakers during his budget speech Friday that he expects the eight remaining public sector financiers to also be out of the ambit of the prompt corrective action (PCA) framework soon. Goyal’s comments came just a day after the Reserve Bank of India (RBI) lifted Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC) out of the purview of the framework, a move that would now allow the financiers to lend and open branches freely. Various steps by the government have helped the banks, resulting in the easing of curbs on these three lenders, Goyal said while presenting the interim budget for 2019-20. However, the interim f
The trading business on Wall Street is struggling and that could mean bad news for these banks

The trading business on Wall Street is struggling and that could mean bad news for these banks

Finance
One of Wall Street's big money-makers has been disappointing for major banks lately. Trading stocks and bonds on behalf of clients has historically been a cash-cow, especially in choppy markets. But as the top U.S. banks report results from the last quarter of 2018, it's becoming clear that trading wasn't a boost to banks' bottom lines. Citigroup and J. P. Morgan both unveiled lower-than-expected fourth quarter trading revenue, especially for fixed income. While it could be a one-off for what was a dismal December in the markets, analysts say it's lik...
Yellow vest protesters call for huge run on French banks

Yellow vest protesters call for huge run on French banks

World
Yellow vest activists are urging French citizens to empty their bank accounts and spark a massive run on French banks in their long-standing fight with the government. Ahead of a ninth straight weekend of planned protests in Paris and across France, yellow vests are issuing calls on social media for massive cash withdrawals from banks. Protesters hope the move will force the government to listen to their demands, notably their call for more direct democracy through the implementation of popular votes that allow citizens to propose new laws. Activist Maxime Nicolle called it the "tax collector's referendum." In a video message, Nicolle said "we are going to get our bread back ... You're making money with our dough, and we're fed up."Let's block ads! (Why?) ABC News: International