Banking

Federal Reserve Chair Janet Yellen ignored a congressman’s advice to “be good with the almighty,” saying interest rates could rise in December if the US economy is healthy enough. Yellen hedged her bet, however, saying major banks weren’t managing risk well.

The Greek parliament has voted in favor of a bill enacting the reforms required by its European creditors as part of a new bailout plan. This paves the way for the controversial 85-billion-euro bailout deal defended by Prime Minister Alexis Tsipras.

Britain’s Treasury department has approved the use of EU-wide funds to alleviate Greece’s debt crisis, despite Chancellor George Osborne insisting the eurozone should foot its own bill, it has emerged.

The so-called 'bank holidays' in Greece will last until Friday, the country's Finance Ministry has said. The announcement comes just hours ahead of Wednesday’s vote in the Greek parliament on a third bailout package.

During a TV speech, Greek Prime Minister Alexis Tsipras admitted that he “does not believe in” the bailout deal with European creditors. However, he defended the venture by arguing that the “bad” deal was the only way for Greece to stay in the EU.

Russian President Vladimir Putin has signed a law regulating the activity of ratings agencies in Russia, as discontent over ‘politicized’ actions of the Western Big Three – S&P, Moody’s and Fitch – is growing.

Chancellor George Osborne is seeking to prevent any move by the European Union to use British taxpayers’ money as part of the Greek bailout, it has emerged.

Certain political forces in Greece that campaigned for ‘No’ at the referendum won’t be satisfied with the outcome of the negotiations so we should expect to see political changes, says Dr. Harry Konstantinidis of the University of Massachusetts.

The New York State Department of Financial Services (DFS) is looking into the activities of Deutsche Bank in Russia. Media reports suggest the regulator is investigating suspected money laundering in Russia.