US states sue Warburg-owned Mariner Finance, alleging predatory lending

NEW YORK, Aug 16 (Reuters) – A lender owned by private equity firm Warburg Pincus LLC was sued on Tuesday by several US states, and accused of charging cash-strapped borrowers hundreds of millions of dollars for “hidden” add-on products that they never agreed to buy. Mariner Finance, with more than 480 offices in 27 states, … Read more

Canadian home buyers return to fixed-rate loans as the economy wobbles

A “For Sale” sign stands in front of a home that has been sold in Toronto, Canada, June 29, 2015. REUTERS/Mark Blinch/File Photo Register now for FREE unlimited access to Register TORONTO, Aug 10 (Reuters) – Canadian home buyers are shifting to fixed-rate mortgages at the fastest pace in a year, on bets that … Read more

Monte dei Paschi seals deal with unions over job cuts

The entrance of Monte dei Paschi di Siena bank’s headquarters is seen in downtown Siena July 1, 2016. REUTERS/Stefano Rellandini/File Photo Register now for FREE unlimited access to Register MILAN, Aug 4 (Reuters) – Italian state-owned bank Monte dei Paschi di Siena (BMPS.MI) said it had reached an accord with unions to shed thousands … Read more

Pakistan imports fall sharply in July, to help rupee stabilize – finance minister

A currency trader counts Pakistani Rupee notes as he prepares an exchange of US dollars in Islamabad, Pakistan December 11, 2017. REUTERS/Caren Firouz/File Photo Register now for FREE unlimited access to Register ISLAMABAD, July 31 (Reuters) – Pakistan imports fell by more than a third in July after a ban on non-essentials, the finance … Read more

Zambia debt relief pledge clears way for $1.4 billion program, says IMF

JAKARTA/LONDON, July 30 (Reuters) – Zambia’s creditors pledged to negotiate a restructuring of the country’s debts on Saturday, a move IMF managing director Kristalina Georgieva welcomed as “clearing the way” for a $1.4 billion Fund program. The creditor committee, co-chaired by China and France, said in a statement released by G20 chair Indonesia that it … Read more

Central bank, companies clash over Turkey’s new loan rules

A logo of Turkey’s Central Bank (TCMB) is pictured at the entrance of the bank’s headquarters in Ankara, Turkey April 19, 2015. REUTERS/Umit Bektas Register now for FREE unlimited access to Register ISTANBUL, July 29 (Reuters) – A big Turkish business group and the central bank clashed on Friday over recent regulations covering loans, … Read more

US business borrowing for equipment falls 1% in June – ELFA

July 25 (Reuters) – US companies borrowed 1% less in June to finance their investments in equipment compared to a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Monday. The companies signed up for $10.3 billion in new loans, leases and lines of credit last month, compared with $10.4 billion a year … Read more

Vietnam says will stick to monetary policy that supports economic growth

HANOI, July 19 (Reuters) – Vietnam will stick to a monetary policy that is “supportive for economic growth”, while closely monitoring inflation, the country’s central bank said on Tuesday. The Southeast Asian country’s gross domestic product (GDP) growth in the second quarter quickened to 7.72% from an expansion of 5.05% in the first quarter, but … Read more

Finland’s Nordea posts higher profit amid economic uncertainty

Nordea bank sign is seen in Copenhagen, Denmark October 22, 2019. REUTERS/Andreas Mortensen Register now for FREE unlimited access to Register Q2 core earnings 1.36 billion eur vs 1.34 bln a year earlier CEO sees volatility and uncertainty in coming quarters Analyst expects rate hikes to shield profitability HELSINKI, July 18 (Reuters) – Finland’s … Read more

China urges banks to extend loans for real estate projects amid mortgage boycott

A woman walks near a construction site of apartment buildings in Beijing, China, July 15, 2022. REUTERS/Thomas Peter Register now for FREE unlimited access to Register SHANGHAI/BEIJING, July 18 (Reuters) – Chinese regulators on Sunday urged banks to extend loans to qualified real estate projects and meet developers’ financing needs where reasonable, in their … Read more