Economic news

Irish authorities have seen a drop in the level and intensity of inquiries from finance firms seeking to set up shop in Dublin after Britain's June election led to the prospect of a softer Brexit, according to a person familiar with the matter.

With Federal Reserve Board Chair Janet Yellen's term due to expire in February, speculation is rampant in D.C. about who might replace her — or whether she will be replaced at all.

Bank may have failed to refund insurance premiums to customers who repaid their auto loans early; digital coin offerings proceed despite warnings from SEC.

A Netherlands-based startup called Dentacoin is setting up a blockchain-based system enabling patients to pay for dental care with its Ethereum-based tokens guaranteeing lifelong, fully covered dental care.

Deutsche Bank envisions shifting almost half its U.K. positions to the European continent over coming years as the lender's Brexit plans take shape, people briefed on the matter said.

Facebook, Twitter, YouTube, Instagram, Reddit and blogs create environments where like-minded users can connect, share opinions and cultivate a sense of camaraderie, creating an unprecedented number of distinct nano-segments, writes Steve Gilde, director of global payments for Paragon.

Banks may need to find $30 billion to $50 billion of additional capital to support new European units in the aftermath of a hard Brexit, and some smaller firms may abandon their operations on the Continent altogether as profitability plunges, according to Oliver Wyman Inc.

Christine Duhaime, an anti-money-laundering attorney in Toronto, lays out the reasons banks should become early experts (and assist) in initial coin offerings. She also lays out the risks, especially in the wake of the SEC’s report suggesting some ICO tokens are really securities.

Acting Comptroller Noreika says he will defer to Congress to determine whether the rule requiring mandatory arbitration should be killed; Bitcoin Cash to start trading but is causing confusion in the digital currency market.

After posting a second quarter of revenue growth and with plans to return another $2 billion of cash to investors, departing boss Stuart Gulliver’s six-year turnaround of HSBC Holdings might finally be gathering momentum.

A task force convened by the Federal Reserve released its evaluations last week of 16 proposals to build a faster U.S. payment system. What follows is a brief look at some of the plans that received high marks.

APIs allow businesses in every market to make payments online, quickly extend their own payment functionality and roll out new features with minimal effort, writes David Yohe, vice president of marketing at BillingTree.

Companies planning to raise money by selling electronic tokens for cryptocurrencies said they won't be put off by SEC warning of regulation; soaring costs trigger exodus from traditional coastal financial hubs.

A task force convened by the Federal Reserve released its evaluations last week of 16 proposals to build a faster U.S. payment system. What follows is a brief look at some of the plans that received high marks.

Banks planning to shift parts of their operations from London to other European cities because of Brexit will have to increase salaries because of a skills shortage, according to the head of a recruitment company.

Citigroup hopes to return $60 billion to shareholders by 2020 while earning $20 billion a year; SEC says companies that raise money by selling their own electronic tokens for cryptocurrencies may be subject to federal oversight.

Bank of America has picked Dublin to locate its main European Union hub in preparation for Britain quitting the bloc in 2019.

The California lender, which specializes in trade finance, reported strong growth in commercial and other lending categories last quarter, and it urged the Trump administration to seek fair trade deals with China.

Hub brand requirements are modest compared with retail systems. They communicate reputation and trust to a relatively small set of sophisticated firms they hope to serve.

House Republicans are ramping up their criticism of the Fed for making interest payments to member banks on excess reserves, and may have identified a way to counter claims that the payments are critical to monetary policy.