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Morning Scan: Bitcoin Hack; TIAA in Talks to Buy EverBank

08/04/16

Receiving Wide Coverage ...

Bitcoin plunges after Hong Kong hack. Bitcoin plunged 20% yesterday after Bitfinex, an exchange based in Hong Kong, said it had been hacked and funds were stolen. Nearly 120,000 bitcoins were stolen. Bitfinex, one of the largest exchanges for the digital currency, froze all customer accounts as it investigates the breach. Financial Times, New York Times ...

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Morning Scan: Euro Bank Stock Free Fall; Student Loan Hardball

08/03/16

Breaking News This Morning ...

HSBC buyback: HSBC said it plans to buy back $2.5 billion of its stock despite a 40% drop in net income in the second quarter. The recently announced sale of its Brazilian until will help pay for the buyback. Wall Street Journal, Financial Times, New York Times Receiving Wide Coverage ... ...

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Morning Scan: Wells Offers P2P Payments; Pitfalls of Glass-Steagall, Dodd-Frank

08/02/16

Breaking News This Morning ...

Commerzbank stock plunges: Shares of Commerzbank dropped sharply Tuesday after the second largest German bank said it wouldn't be able to achieve its goal of keeping profit stable as revenues drop. Wall Street Journal, Financial Times Wall Street Journal

Right idea but wrong slice? Republican and Democrat party platforms favor a return to the Glass-Steagall separation of commercial and investment banking, but few investors would welcome it, says the Heard on the Street...

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Morning Scan: JPM Exits T-Bond Settlement; Consumer Debt Worries

08/01/16

Wall Street Journal

And then there was one: JPMorgan Chase's decision to stop handling the settlement of U.S. Treasury debt for big bond brokers—leaving Bank of New York Mellon Corp. as the lone firm in the business—has some people worried about how the $13 trillion market will be able to withstand any potential shocks. ...

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Morning Scan: JPM to Settle Hiring Probe; PayPal, Visa Make Nice

07/22/16

Receiving Wide Coverage ... Strategic hiring: What's a few jobs among friends? JPMorgan Chase is expected to settle a probe in coming months over alleged efforts to hire the children of powerful Chinese officials and executives in state-owned firms to drum up new business. The bank is expected to pay as much as $200 million and may admit wrongdoing, though it is unlikely to be criminally charged. Wall Street Journal, Bloomberg Â...

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Women in Banking: 'Equity,' Pokemon Go and More Bro Talk

07/21/16

The movie "Equity" about women on Wall Street (backed by Barbara Byrne and other industry women) is coming soon. The internet reacts to the 'Bro Talk' op-ed about Wall Street's objectification of women. The CFSI is pushing for a more holistic financial health metric. Jill Castilla is big on Pokemon Go and tweeting about it to lure people into the branch. Also, Sheryl Sandberg is rethinking parts of her "Lean In" philosophy.

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Morning Scan: HSBC Banker Arrested in Forex Case

07/21/16

Receiving Wide Coverage ...

Crackdown: A top banker was arrested on criminal charges Wednesday, but those looking for prosecutions resulting from the financial crisis are still going to be disappointed. Mark Johnson, a top foreign-exchange executive at HSBC is accused of "front running" a currency trade for a client in 2011, which was worth about $3.5 billion. The deal won the bank about $8 million at the time, albeit to the detriment of the company involved....

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Morning Scan: Fallout from Republican Shot at Big Banks

07/20/16

Receiving Wide Coverage ... Catching fire: For a Depression-era law, the Glass-Stegall Act has certainly gone prime time in 2016. Observers spent much of Tuesday scratching their heads over the GOP's decision to include in its party platform bringing back the provision. The law, which separated commercial and investment banking activities, was repealed under President Bill Clinton. The New York Times calls the proposal, which has also been backed by many on the left, "almost aÂ...

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Morning Scan: New Support for Glass-Steagall; Brexit Maneuvers

07/19/16

Receiving Wide Coverage ...

Strange bedfellows: Somehow, this year's presidential race just got even more baffling. Republicans have included a provision to bring back the Glass-Steagall Act in their platform, putting the party in line with those on the left, including Sens. Elizabeth Warren and Bernie Sanders. Donald Trump campaign aide Paul Manafort highlighted the issue during a press conference on Monday, noting that Hillary Clinton's husband, former President Bill Clinton, oversaw the repeal of the...

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Morning Scan: More Bank Earnings; Trouble Brews Abroad

07/18/16

Receiving Wide Coverage ...

Mixed bag: Bank of America's second-quarter results are better than analysts predicted, but still spell a big drop from last year. The bank's profit fell to $4.23 billion from $5.13 billion a year earlier, while adjusted revenue slid to $20.6 billion from $21.96 billion, B of A reported on Monday morning. Wall Street Journal, New York Times, Financial Times>, American banker ...

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