Educational Money App Treasure Card Launches to Teach Kids Smart Habits Around Spending, Saving and Donating With Money From the Bank of Mom and Dad

Press release content from Newswire. The AP news staff was not involved in its creation.

TORONTO – October 14, 2020 – ( Newswire.com )

​​​Kids are like sponges when it comes to new concepts, making this the perfect time to teach financial literacy. Research shows that the younger you teach children about money, the more independent and responsible they will be as adults. This is why Treasure exists. Treasure, a mobile money management app has been built to teach kids the value of money, fun ways to earn and save their allowance and money received through gifts.

“Financial literacy is a key life skill, but schools don’t teach finance-related courses properly until middle school or high school, and I think that is not only crazy but also way too late to form good habits,” said Matt O’Leary, CEO of Treasure. “Kids need money skills as soon

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World Bank approves $12B to finance virus vaccines, care

The World Bank has approved $12 billion in financing to help developing countries buy and distribute coronavirus vaccines, tests, and treatments, aiming to support the vaccination of up to 1 billion people.

The $12 billion “envelope” is part of a wider World Bank Group package of up to $160 billion to help developing countries fight the COVID-19 pandemic, the bank said in a statement late Tuesday.

The World Bank said its COVID-19 emergency response programs are already reaching 111 countries.

Citizens in developing countries also need access to safe and effective COVID-19 vaccines, it said.


“We are extending and expanding our fast-track approach to address the COVID emergency so that developing countries have fair and equal access to vaccines,” said the bank’s president, David Malpass, said in the statement.

“Access to safe and effective vaccines and strengthened delivery systems is key to alter the course of the pandemic and help

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World Bank Approves $12B to Finance Virus Vaccines, Care | Business News

The World Bank has approved $12 billion in financing to help developing countries buy and distribute coronavirus vaccines, tests, and treatments, aiming to support the vaccination of up to 1 billion people.

The $12 billion “envelop” is part of a wider World Bank Group package of up to $160 billion to help developing countries fight the COVID-19 pandemic, the bank said in a statement late Tuesday.

The World Bank said its COVID-19 emergency response programs are already reaching 111 countries.

Citizens in developing countries also need access to safe and effective COVID-19 vaccines, it said.

“We are extending and expanding our fast-track approach to address the COVID emergency so that developing countries have fair and equal access to vaccines,” said the bank’s president, David Malpass, said in the statement.

“Access to safe and effective vaccines and strengthened delivery systems is key to alter the course of the pandemic and help

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M&T Bank: A Cheap Valuation Sets Up The Stock To Bounce After Third Quarter Earnings (NYSE:MTB)

Investment Thesis

Headquartered in Buffalo, New York, M&T Bank Corporation (MTB) is a $140 billion asset holding company and parent to M&T Bank. MTB has offices located throughout the Northeastern United States. Specifically, the bank has 785 branches located in Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia, and a few other states.

While MTB is more of your classical “loans and deposits” type community banks, relative to super regional peers, it does have a strong wealth management presence associated with its Wilmington Trust business. While most other banks focus on growth first, I believe MTB is more focused on sound credit quality above all else. As one can see from the charts below (under “Credit Analysis”), the bank did quite well during the last recession in terms of credit pain.

As one can see from the valuation chart below, the current valuation (in terms of Price to Tangible

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German Prosecutors Drop Money-Laundering Probe Against Deutsche Bank Managers | Investing News

BERLIN (Reuters) – German prosecutors said on Tuesday they were dropping a money-laundering investigation against managers at Deutsche Bank

, over its relations with Danske Bank’s

Estonian subsidiary, citing a lack of evidence.

The economic crimes unit at the Frankfurt Prosecutor’s Office also fined Deutsche Bank 13.5 million euros ($15.9 million) for being slow to report suspected money laundering in more than 600 cases.

The case related to a whistleblower’s claims that Danske had handled 200 billion euros in suspicious payments from Russia and other ex-Soviet republics between 2007 and 2015 – the bulk of which were processed by Deutsche Bank.

Deutsche Bank, which broke off its relationship with Danske in 2015, has consistently denied wrongdoing.

“With the end to proceedings, it is clear that there were no criminal lapses on the part of Deutsche Bank or its staff,” board member Stefan Simon said in a statement.

The fine relates

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Q3 Bank Earnings Up Next, With Results Likely Bolstered By Busy Trading Environment

Key Takeaways:

  • Surging IPO and M&A business appears to be helping big banks
  • Morgan Stanley
    MS
    making acquisitions as it grows money management business
  • Strong trading activity could bolster Goldman Sachs
    GS
    , Morgan Stanley, Bank of America
    BAC

A week before earnings season, Morgan Stanley (MS) lit a spark under the banking sector with its $7 billion purchase of fund manager Eaton Vance
EV
(EV).

MS isn’t the only company wheeling and dealing as earnings approach. Initial public offerings (IPOs) and mergers and acquisitions (M&A) are accelerating here in the Q4 across multiple industries. The surge began around mid-year, and might be enough to help buttress Q3 earnings for MS and some of the other big banks reporting in coming days.

With fresh M&A accompanied by an upsurge in capital markets trading activity, it feels like things might finally be looking up the banking industry.

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Singapore Central Bank Cedes to Fiscal Punch: Decision Guide

(Bloomberg) — Singapore’s central bank is likely to keep monetary policy unchanged Wednesday as it allows fiscal measures to do the heavy lifting in getting the city-state’s economy back on track.

The Monetary Authority of Singapore, which uses the currency as its main policy tool rather than interest rates, probably will refrain from changing any of the three currency band settings, according to all 19 economists surveyed by Bloomberg.



chart: Singapore Monetary Policy History


© Bloomberg
Singapore Monetary Policy History

The MAS — which typically makes policy decisions twice a year, in April and October — took the unprecedented step in its last announcement of lowering the midpoint of the currency band and reducing the slope to zero. That meant it would allow for a weaker exchange rate to head off deflation and support the export-reliant economy.

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Since then, the economy has plunged into recession amid the pandemic and the government has unleashed

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Can JPMorgan Kick Off a Bullish Bank Run on Earnings?

JPMorgan Chase  (JPM) – Get Report is often considered a best-in-breed bank stock, which is why investors will be looking for the company to be a leader as this earnings season kicks off.

JPMorgan will report earnings on Tuesday before the open along with Citigroup  (C) – Get Report and ahead of others like Bank of America  (BAC) – Get Report, Wells Fargo  (WFC) – Get Report and Goldman Sachs  (GS) – Get Report.

Unlike the S&P 500, which has made new 52-week highs, JPMorgan and the banks continue to struggle.

While off the lows, plenty of technical damage remains. Investors will look to see if management is less cautious than it was in the summer and if the consumer is looking better or worse from three months ago.

If investors like what they hear, it could trigger

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G20 Finance Ministers and Central Bank Governors Meeting and Virtual Press Conference to be held October 14

RIYADH, Saudi Arabia, Oct. 12, 2020 /PRNewswire/ — The fourth G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting will be held virtually on October 14 under the Saudi G20 Presidency to discuss the global economic development and support a swift and sustained global economic recovery. FMCBGs will also discuss updates to the G20 Action Plan – Supporting the Global Economy through the COVID-19 Pandemic (the G20 Action Plan) – in addition to the progress made on the G20 Debt Service Suspension Initiative and its proposed extension into 2021.

After the conclusion of the meeting, a virtual press conference will be conducted at 6:15 PM Riyadh time (UTC+3) by the Saudi Finance Minister Mr. Mohammed Al Jadaan, and the Saudi Arabian Monetary Authority Governor Dr. Ahmed Al Kholifey.

The media is invited to submit questions for the virtual press conference online via the official form at https://bit.ly/3lAkiOJ

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Year’s Biggest Bank Merger Sealed as Saudi Rivals Reach Deal

(Bloomberg) —

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National Commercial Bank, Saudi Arabia’s largest lender by assets, agreed to buy rival Samba Financial Group for $15 billion in the biggest banking takeover this year.

NCB will pay 28.45 riyals ($7.58) for each Samba share, based on Thurday’s close, valuing the smaller lender at about 55.7 billion riyals. The kingdom’s sovereign wealth fund, the biggest single shareholder in the two banks, will have the largest stake in the combined entity with 37.2%.

The new bank will have total assets of more than $220 billion, creating the Gulf region’s third-largest lender. Its $46 billion market capitalization nearly matches that of Qatar National Bank QPSC, which is still the Middle East’s biggest lender with about $268 billion of assets.

NCB shares rose as much as 3.6% on Monday, the most in over three months, before trimming their increase to 1.3% as of 11:56 a.m. in Riyadh. Samba

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