The Bank of Canada will trim interest rates to 4.75% on June 5, according to three-quarters of economists in a Reuters poll which showed three further cuts this year, with the last one hanging on a knife’s edge.
Fidelity Investments will not impose new fees on investors buying exchange-traded funds (ETFs) issued by a group of smaller asset management firms, having made progress on a revenue-sharing agreement with issuers, sources familiar with the matter told Reuters.
India’s central bank on Thursday released its final guidelines for financial technology firms to create a self-regulatory organisation (SRO) that is aimed at enforcing regulatory standards and fostering transparency in the sector.
Royal Bank of Canada (RBC) , the country’s No.1 bank, on Thursday surpassed analysts’ expectations for quarterly profit, driven by strength in its capital market business and its core personal banking segment.
The European Union said on Thursday it had given final approval to roll out the remaining batch of tougher bank capital rules from January 2025, building on safeguards introduced after taxpayers had to bail out lenders in the global financial crisis over a decade ago.
Canadian Imperial Bank of Commerce on Thursday reported a better-than-expected quarterly profit, driven by robust performance in its capital markets business and U.S. commercial banking segment.
Banks and investment firms in the European Union cannot shirk boardroom responsibility and a legal obligation to protect customers when using artificial intelligence (AI), the bloc’s securities watchdog said in its first statement on AI.
JPMorgan Chase plans to grow its headcount in India by 5%-7% annually over the next few years, a senior executive told Reuters, as the Wall Street bank doubles down in one of the hottest markets globally for talent to support international operations.
UBS said on Thursday it would split its top wealth management role as part of a shake-up of its executive board, creating new responsibilities for two leading contenders to eventually run the Swiss bank after CEO Sergio Ermotti.
