German central bank losses soar, wiping out risk provisions

Joachim Nagel, president of Deutsche Bundesbank, during the central bank’s “Annual Report 2023” news conference in Frankfurt, Germany, on Friday, Feb. 23, 2024.  Bloomberg | Bloomberg | Getty Images Losses incurred by the German central bank rocketed into the tens of billions in 2023 due to higher interest rates, requiring it to draw on the … Read more

Online fundraisers for violent West Bank settlers raised thousands, despite international sanctions

JERUSALEM — When the Biden administration imposed sanctions this month against Israeli settler Yinon Levi for allegedly assaulting Palestinian civilians in the occupied West Bank, his supporters quickly sprang into action. Within days, an online fundraiser collected over $140,000 for Levi and his unauthorized settler outpost from over 3,000 donors worldwide. Now, those contributions may … Read more

Israeli strikes in Gaza kill 48 as fears mount over humanitarian crisis and West Bank violence

RAFAH, Gaza Strip — Israeli strikes killed at least 48 people in southern and central Gaza overnight, half of them women and children, health officials said Thursday, as European foreign ministers and U.N. agencies called for a cease-fire, with alarm rising over the worsening humanitarian crisis and potential starvation in the territory. Tensions were also … Read more

European Central Bank posts first annual loss in decades

Rain falls over the finance district and the European Central Bank (ECB) in Frankfurt, Germany. Thomas Lohnes | Getty Images News | Getty Images The European Central Bank on Thursday reported its first annual loss since 2004, following hefty payouts due to higher interest rates. It reported losses of 1.3 billion euros ($1.4 billion), which would … Read more

Live updates | Attackers open fire in the West Bank, killing 1 Israeli and wounding others

Israeli police say three gunmen opened fire on the road near a checkpoint in the Israeli-occupied West Bank, killing one Israeli and wounding at least eight, as violence persists in the territory. Benny Gantz, a member of Israel’s War Cabinet, said late Wednesday that new attempts are underway to reach a cease-fire deal between Israel … Read more

Bank of England says UK recession is modest in historical terms

Bank of England Gov. Andrew Bailey said Tuesday that the U.K.’s economic recession that was confirmed last week is modest by historical standards and is probably over. In testimony to lawmakers, Bailey said the two successive quarters of negative growth recorded in the second half of 2023 — the standard by which the U.K. measures … Read more

Bank of England rate cuts likely later but larger, Goldman Sachs says

Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom.  Mike Kemp | In Pictures | Getty Images The Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half of the year, … Read more

Nigerian digital bank FairMoney in talks to buy Umba in $20M all-stock deal, sources say

FairMoney, a digital bank based in Lagos and headquartered in Paris, is in discussions to acquire Umba, a credit-led digital bank providing payroll and financial services to customers in Nigeria and Kenya, in a $20 million all-stock deal, sources tell TechCrunch. The move signals FairMoney’s interest in growing its customer base by expanding into more … Read more

Virginia bank delays plans to auction land at resort owned by West Virginia governor’s family

CHARLESTON, W.Va. (AP) — A Virginia bank says it will delay plans to auction off land at West Virginia Gov. Jim Justice’s posh resort in an attempt to recover more than $300 million on defaulted business loans by the governor’s family. In a filing Friday in Greenbrier County Circuit Court, Carter Bank & Trust of … Read more

India’s central bank extends Paytm Payments Bank restrictions deadline

India’s central bank has extended the deadline for some business restrictions on Paytm’s Payments Bank to March 15 in “larger public interest,” dashing hopes of any major concessions but allowing extra time to comply. The Reserve Bank of India (RBI) said on Friday that Paytm Payments Bank will be barred from accepting deposits and facilitating … Read more