Axel Weber News
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Updated 1 hour, 55 minutes ago
Germans need to re-think whether Bundesbank President Jens Weidmann’s move to lodge a legal challenge against the European Central Bank’s bond-buying program was such a good idea. They don’t have a lot of time.
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It’s not paying to be either an insider or the favorite when it comes to landing the top job at a Group of Seven central bank.
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Central banks are setting new expectations for monetary policy that may be hard to reverse as they slide deeper into the realms of fiscal policy.
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Cypriot capital controls may not prevent the country’s lenders from becoming more reliant on funding from the European Central Bank, UBS AG Chairman Axel Weber said.
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UBS AG, Switzerland’s biggest bank, still sees a “challenging environment” for its wealth management business as clients remain reluctant to invest on a large scale, Chairman Axel Weber said.
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The Bank of England said rising equity markets don’t reflect the underlying economic situation and warned that investors may be underestimating risks in the financial system.
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Cyprus is on the verge of an unprecedented financial experiment: imposing controls on money transfers in an economy that doesn’t have its own currency.
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European stocks fell to a three- week low, led by a selloff in banks, as the leader of Italy’s Democratic Party ruled out the possibility that rival politicians will agree on a broad coalition government.
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U.K. stocks fell, even as the FTSE 100 Index headed for its longest streak of monthly gains since 1997, as Italian bond yields rose after the Mediterranean country sold debt and U.S. data showed pending house sales dropped in February.
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Regulators cleared Nasdaq OMX Group Inc.’s plan to pay $62 million to compensate brokers for its mishandling of Facebook Inc.’s public debut, dealing a defeat to Wall Street firms that say they lost many times that amount.
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