EU hires banks for first recovery fund bond – lead managers
The European Union on Monday hired banks for a 10-year bond sale, the first to finance its recovery fund, according to two lead managers, a crucial step in financing the bloc’s economic recovery from the coronavirus pandemic.
JPMorgan Chase on opening bank branches: 200 down, 200 to go
JPMorgan Chase & Co (JPM.N) is halfway through a campaign to open 400 new bank branches and is closing in on being the first U.S. bank to have a brick and mortar presence in every state except Alaska and Hawaii, a bank executive said on Wednesday.
Analysis: China’s banks are bursting with dollars, and that’s a worry
A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan.
U.S. business borrowings jump 19% in April – ELFA survey
U.S. companies borrowed $9.8 billion for capital investments in April, up 19% from a year earlier, benefiting from an economic recovery triggered by mass COVID-19 vaccinations and easing restrictions, the Equipment Leasing and Finance Association (ELFA) said.
NGOs call on ADB to end fossil fuel loans amid climate reboot
A group of non-governmental organisations called on the Asian Development Bank (ADB) on Monday to end loans to the fossil-fuels sector, as the international lender holds its annual meeting this week with a focus on a green economic recovery. The ADB, which finances initiatives aimed at boosting economic prospects for Asia’s poorest, is also reviewing […]
U.S. pandemic relief program mistakenly paid $692 million in duplicate loans: watchdog
WASHINGTON (Reuters) – The U.S. Small Business Administration (SBA) mistakenly paid out $692 million in duplicate small-business pandemic relief loans because of technical errors and other mistakes, the agency’s internal watchdog said on Monday.
