Canstarawards 5-star rating Warehouse Money Purple Visa Card
Prestigious rating agency Canstar has announced that it is awarding a 5-star rating to Warehouse Money Purple Visa Card, which was launched just six months earlier.
The data provider released its latest Canstar Credit Card Rewards star ratings report today. It awarded the 5 star rating to the Warehouse Money Purple Visa Card in the annual ratings for Rewards cards in the New Zealand market. The card won the rating for the $12k and under annual spend category.
European Central Bank will Phase Out €500 Note by 2018
Bigger the note better it is for money launderers and other criminals and keeping that in mind the European Central Bank decided to phase out 500-euro notes. On Wednesday, the European Central Bank announced that it will discontinue with _500 note which is worth roughly $575. The larger denominations are easier to carry and suitcase full could value a lot more than the smaller denominations. A study by Harvard University shows, that equivalent of $1 million in _500 notes only would weigh approximately five pounds.
Federal Reserve Gives No Hint of Rate Hike; Will Closely Monitor Inflation Indicators and Global Economy
There were changes in the interest rates this time but the Federal Reserve left doors open for a hike in June when the Federal Open Market Committee meets next on June 14 and15.
The recent from FOMC remained more or less the same as the earlier one and gave no strong indications regarding the decision that will be taken during the meeting in June. The intention of the Federal Reserve will surface in three weeks as the minutes for this meeting are released.
MediaWorksapologises to RBNZ for leak
Newshub's owners Mediaworks has apologised to the Reserve Bank of New Zealand after it admitted that one its staff told his colleagues about the bank's decision to lower interest rates about an hour before the official announcement.
Largest U.S. Banks are Expected to Report Dismal Quarterly Results for the First Three Months of the Year
Just three months into 2016 and some analysts are already predicting a moldy year for the U. S. banks. According to analysts say this year had a bad start, may be the worst since 2007-2008, the financial crisis years. They also expect banks to report poor first-quarter results when they start coming out this week.
The activities in the capital markets and loan growth are suffering from concerns over China's slow economic growth, impact of energy sector from the continued lower oil prices and low interest rates.
Green Party wants to Strengthen KiwiBank to Compete Better with Foreign Banks
The Greens Party wants to strengthen KiwiBank in order to make it better compete with the foreign owned big four banks paving a path for better interest rates.
The Green Party said on Monday, to achieve better bank interest rates they will inject added $100 million in capital to Kiwibank in order to pace up the growth into as a commercial bank. It will also permit Kiwibank to keep more of the profits so that it grows faster. It will also give Kiwibank an understandable public purpose in order to lead the market in transiting to cuts in interest rates.
Brian Moynihan says Bank of America Is “No Longer Clouded Over” by Crisis-Related Liabilities
On Friday, Bank of America opened at 13.68 and the Charlotte, North Carolina based company's fifty day moving average is $12.92 and 200 day moving average is $15.37.
Minutes of BOJ’s January Meeting Show Officials are Open to Expanding Quantitative Easing Program Further
The minutes of Bank of Japan's January meeting was released on Friday, which indicated that the BOJ officials are open to extending the already massive quantitative easing program further.
The minutes revealed that officials are exploring further asset purchases and also introduction of negative rates. The bank is making an effort to fight deflation and the new insight will probably make expectations grow that the BOJ might adopt additional monetary stimulus soon using both the channels.
Investors Await Outcome of BOJ’s Policy Meeting; Next, U.S Fed in focus
On Tuesday, the dollar maintained a steady position in Asian trade and the yen took a hit as investors are waiting to see the outcome of the Bank of the two day policy meeting of Japan scheduled later in the session.
The eyes will be next on the two-day policy meeting of the U. S. Federal Reserve starting on Tuesday.
The dollar remained almost flat against its Japanese counterpart at 113.78 yen. The yen edged slightly lower against the euro to 126.31.
Amazon Echo Might be Tested for Banking Transactions
Smart gadgets are an in-thing in today's world and the Amazon Echo, the tube-shaped speaker from the Seattle based e-commerce company has made quite an impression on the market.
The Echo comes with intelligent voice assistant, Alexa, which activates the speaker when users simply say "Alexa." Thereafter, Alexa can be given command to play music or other channels, control smart home gadgets such as the thermostat or lights connected to the internet.
Fed Beige Book Summary Reveals Slowdown in Economic Activity and Less Consumer Spending in Some Districts
The Federal Reserve said that economic activity slowed in some parts of the United States in recent months. Some areas reported that the recent market turmoil also affected consumer spending.
On Wednesday, the central bank's "beige book" summary released for showing regional economic conditions, revealed that, since early January only half of the Federal Reserve's twelve districts reported moderate growth. An earlier report revealed that nine districts expanded at that pace.
Bank of America Pays Its Chief Executive, Brian Moynihan $16 Million in 2015
Brian T. Moynihan the Chief Executive of Bank of America has been lucky enough to have survived a recent campaign by some shareholders who wanted him to leave the company last year. Along with that the company awarded him twenty three percent pay hike compared to the previous year.
BOJ Making Further Efforts to Turnaround the Deflationary Trends
Boosting spending and investments tops the BOJ's agenda. The Bank of Japan hopes trimming interest rates to lower than zero rates will work to fulfill its aim but at the same time worry about inactivity and years of trivial returns could mean that savers become doubtful in keeping strides with the central bank's tune.
Deutsche Bank Expected to Post Loss for Q4 as Legal Charges and Restructuring Costs Increase
The biggest bank of Germany, Deutsche Bank AG, is expected to post a loss of 2.1 billion-euro for Q4 as it set aside more amount of money to settle legal costs and a restructuring charge.
Deutsche Bank said the full year revenue is expected to be close to 33.5 billion euros. The net loss for the period is expected to be
