LONDON: Sterling fell from five-month highs against the euro and dollar on Wednesday, with talks to secure a Brexit deal expected to go down to the wire before an European Union summit.
British and EU officials were to resume talks on Wednesday, a few hours after late-night negotiations wound up, but it was far from clear they would reach an agreement before the summit on Thursday.
A report on Tuesday negotiators were closing in on a draft Brexit deal sparked a surge by the pound and raised hope across world markets"...

The pressure is starting to bear on Wall Street bosses. All in, earnings at the country’s biggest banks may fall 1.2 per cent in the three months to the end of September compared to the same period last year, according to Refinitiv data. If so, it’ll be the first drop in three years. It’s not a blip.
Equity capital markets are at a seven-year issuance low globally, Refinitiv data show. Blame poorly performing initial public offerings like Uber Technologies, Lyft and Peloton Interactive and the debacle"...

Damascus, SANA_ The Central Bank of Syria (CBS) announced the start of implementation of “My currency is my power” initiative in coordination with the Damascus Chamber of Commerce.

The initiative is launched through the intervention of the businessmen who put a special account for the Chamber of Commerce in order to reduce the exchange rate of foreign currencies against the Syrian pound in the parallel market as of today after the completion"...

Bank of America reported its third-quarter 2019 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191016005398/en/

• Bank of America newsroom at https://newsroom.bankofamerica.com
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The Central Bank of Syria announced launching the implementation of the initiative “My currency is my power” in coordination with the Damascus Chamber of Commerce.

The initiative is launched through the intervention of the businessmen who put a special account for the Chamber of Commerce in order to reduce the exchange rate of foreign currencies against the Syrian pound in the parallel market as of today after the completion of executive"...

JP Morgan, the biggest US lender by assets, is undeterred by a slowdown in Middle East economies and sees long-term growth for its business in the region, as sovereigns and corporates continue to issue debt, attract investment and drive mergers and acquisitions deals.

The lender, which has the biggest share of the global investment banking market, does not plan to alter its business strategy in hydrocarbon-rich economies facing headwinds on the"...

WASHINGTON: The US Federal Reserve on Thursday unveiled a final package of rules easing capital and liquidity requirements for domestic US and foreign banks that were originally introduced following the 2007-2009 global financial crisis.
The changes, which should reduce the compliance burden and free up funds for US Bancorp, Capital One and PNC Financial, among others, mark another win for the industry after the Fed also relaxed rules on derivatives trades and banks’ annual health checks.
Thursday’s"...

Fifteen radical technologies will change the future and impact over $13trillion (Dh47.8tn) worth of industries, according to a new report by Bank of America Merrill Lynch.

Some of these technologies – that BofA called “moonshots” in its report – include quantum computing, Hyperloop, nanosatellites, geoengineering, 6G, nuclear fusion, deep sea mining and nanotechnology.

“While"...

Middle East and North African countries must press on with deeper economic reforms to boost employment and growth while liberalising their markets, the World Bank said as it revised down its growth estimates for the region.

The lender, based in Washington, adjusted economic growth in the region down to an average 0.6 per cent this year, a 0.8 percentage point drop from its April forecast.

It"...

On June 30, British bank NatWest sent out an arcane-sounding press release — bus operator National Express had become the first company to take out a loan based on Sonia, a replacement for scandal-hit interest rate benchmark Libor.
It was billed as the first switch of thousands that British firms would make by end-2021, when the benchmark is set to be decommissioned.
Four months on, NatWest’s trailblazing Sonia switch has been followed by only one other loan, when the bank struck a deal with utility"...