FTSE 100 ends in red on busy day of reporting BelfastTelegraph.co.uk The FTSE 100 ended in the red on Thursday following a busy day of corporate reporting that saw big hitters Lloyds and Royal Dutch Shell end at opposite ends of the spectrum. https://www.belfasttelegraph.co.uk/business/uk-world/ftse-100-ends-in-red-on-busy-day-of-reporting-38073203.html https://www.belfasttelegraph.co.uk/business/uk-world/article38073202.ece/d2cc5/AUTOCROP/h342/bpanews_ae7eddc8-5fa3-4953-a4c1-b0e033936c6e_1 Email The FTSE 100 ended in the red on Thursday following a busy day of corporate reporting that saw big hitters Lloyds and Royal Dutch Shell end at opposite ends of the spectrum. London’s top flight closed down 33.95 points, or 0.46%, at 7,351.31, following global peers lower. David Madden, analyst at CMC Markets, said: “Stock markets are largely lower heading into the close as volatility is low. In London, the FTSE 100 is being weighed down by consumer and mining stocks. … [Read more...] about FTSE 100 ends in red on busy day of reporting
World business lenders complaints
Rebecca Ungarino, provided by Published 12:15 pm CDT, Friday, April 19, 2019 REUTERS/Brendan McDermid The Securities and Exchange Commission on Friday said the online lender Prosper would pay a $3 million penalty for inflating returns to investors. Prosper told more than 30,000 investors that its returns were higher than they actually were, the SEC said in a release. Visit MarketsInsider.com for more stories. The Securities and Exchange Commission said on Friday that the online lender Prosper Funding LLC will pay a $3 million penalty for "miscalculating and materially overstating annualized net returns to retail and other investors." Prosper's actions, according to the SEC's findings, came despite investor complaints and Prosper's knowledge the company "no longer understood how annualized net returns were calculated." Without admitting or denying the findings, Prosper consented to the entry of an SEC order finding that it violated the antifraud provision of the … [Read more...] about The SEC hit Silicon Valley lender Prosper with a $3 million fine for inflating its returns to ‘tens of thousands of investors’
WASHINGTON - President Donald Trump's choice to lead the World Bank is a firebrand critic of the world's largest anti-poverty lender -- an institution he has called wasteful, corrupt and overly generous to China. Those complaints are similar to those voiced by others in the development community. But that does not mean they have found a new ally in David Malpass, the senior US Treasury official who has pledged to reform the bank. Nancy Pelosi, the newly reinstalled Democratic speaker of the US House of Representatives, says Trump's choice threatens to "undermine the institution's mission." And Liberia's former minister of public works W. Gyude Moore tweeted that "an incorrigible arsonist will now be our fire chief." Malpass' many criticisms of the Washington-based lender certainly echo familiar refrains. Many activists have long called for reforms at the World Bank, citing a litany of alleged human rights failures and scandals, and saying projects all too often left the world's poorest … [Read more...] about Trump’s World Bank pick, an ally for the lender’s critics?
HDBank pre-tax profit increases by 65.7 per cent to $ 172.6 million An HDBank branch in HCM City. — Photo courtesy of HDBank The HCM City Development Joint Stock Commercial Bank (HDBank) has announced its results for the fourth quarter of last year and for the full financial year, achieving impressive growth and meeting ambitious targets. Its pre-tax profit surpassed the target approved at the annual general meeting early last year. Its return on equity and return on assets were 20.27 per cent and 1.58 per cent. HDBank’s non-performing loan ratio was tightly controlled at 0.97 per cent, the lowest level in the banking industry. In the fourth quarter, the lender achieved a consolidated pre-tax profit of over VND1.12 trillion (US$48.3 million), up 122.1 per cent year-on-year. This included net interest earning of VND2.16 trillion ($93.1 million), up 23.9 per cent over the same period. With a breakthrough performance in the last quarter of 2018, pre-tax profit for the whole … [Read more...] about BUSINESS NEWS IN BRIEF 24/1
Business committee head calls for probe into Provident Financial BelfastTelegraph.co.uk The chairwoman of the Business Select Committee has called for a probe into Provident Financial after the embattled doorstep lender advertised loans with a hefty interest rate over Christmas. https://www.belfasttelegraph.co.uk/business/uk-world/business-committee-head-calls-for-probe-into-provident-financial-37695628.html https://www.belfasttelegraph.co.uk/business/uk-world/article37695626.ece/16e41/AUTOCROP/h342/bpanews_5f05edb4-70f1-4728-a0c2-b904bed4c021_1 Email The chairwoman of the Business Select Committee has called for a probe into Provident Financial after the embattled doorstep lender advertised loans with a hefty interest rate over Christmas. Labour MP Rachel Reeves has written to the City watchdog asking it to investigate Provident’s “cynical” marketing tactic to target customers who are financially vulnerable with loans advertised with an APR of 535.3%. … [Read more...] about Business committee head calls for probe into Provident Financial