Investors sifting through analysts’ new year predictions for stock market movements may want to press “delete” and look instead for sound companies, as history shows equity index forecasts are usually wrong. In good years and bad, according to Reuters polls, most fund managers and analysts have struggled to predict annual […]
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Consumer watchdog tightens mortgage lending rules on banks
More than five years after the housing market collapsed, the U.S. government’s newly created consumer watchdog said Thursday it will force banks to verify a borrower’s ability to repay loans to ward off the kind of loose lending that helped push the U.S. economy into recession. The Consumer Financial Protection […]
Recapitalisation hurdle threatens Savannah Bank’s reopening
The failure of the core investors in Savannah Bank of Nigeria Plc to fully recapitalise the bank to the N25bn minimum share capital requirement is a major reason for its inability to reopen for business, more than three years after its operating licence was returned via a court order, investigations […]
