LONDON (Reuters) – Britain’s energy market needs quick reforms, regulator Ofgem said on Thursday, flagging it plans to announce changes to the market in the coming weeks. The regulator’s role has come under scrutiny after more than 20 British suppliers went bust over the past few months, caught out by record high wholesale gas and …
Britain’s energy market needs quick reforms, says regulator Read More »
By Andrea Shalal WASHINGTON (Reuters) – British trade minister Anne-Marie Trevelyan on Wednesday said she had invited U.S. Commerce Secretary Gina Raimondo to visit London in January to make progress on removing U.S. tariffs on steel and aluminum and the threat of UK retaliatory tariffs. Trevelyan and Raimondo met in Washington on Wednesday, following the …
Britain presses U.S. for quick move on steel, aluminum tariffs Read More »
(Reuters) -Video game retailer GameStop Corp said it was issued a subpoena by the U.S. securities regulator back in August for documents on an investigation into its share trading activity, while reporting a bigger-than-expected quarterly loss. GameStop was one of the companies whose shares hogged the limelight in this year’s meme-stock frenzy, which was led …
GameStop discloses SEC subpoena on trading activity, posts bigger-than-expected loss Read More »
NEW YORK (Reuters) – JPMorgan Chase & Co expects its fourth-quarter markets revenue will be down about 10 percent from a record performance a year earlier, Chief Operating Officer Daniel Pinto said on Wednesday. Fixed-income trading is leading the decline while equity markets revenue is flat to slightly up, Pinto said at an investor conference …
JPMorgan see 10% decline in 4Q markets revenue from year-earlier record Read More »
MILAN (Reuters) – Telecom Italia (TIM) is looking to cut the cost of a deal with sport streaming service DAZN after the accord to distribute Italy’s top flight soccer league matches lifted revenues less than expected, two sources close the matter said. In a bid to promote its broadband and pay-TV services, Italy’s biggest telecoms …
Telecom Italia looking to cut cost of DAZN deal, sources say Read More »
(Reuters) – The U.S. Justice Department has told Deutsche Bank that it may have violated a criminal settlement when it failed to tell prosecutors about an internal complaint in its asset-management arm’s sustainable investing business, the Wall Street Journal reported on Wednesday. The internal complaint alleged that DWS Group, Deutsche Bank’s asset manager, overstated how …
U.S. told Deutsche Bank that it may have violated criminal settlement -WSJ Read More »
PARIS (Reuters) – An ownership battle at SMCP heated up on Wednesday as major shareholders claimed a 16% stake in the French fashion group had been illegally transferred to an offshore account, and a meeting to force a boardroom reshuffle was called for next month. The transfer was allegedly carried out by SMCP’s previous Chinese …
SMCP ownership battle heats up amid illegal stake transfer claim Read More »
(Reuters) – Water company Severn Trent has been fined 1.5 million pounds ($2 million) for illegal sewage discharges, Britain’s Environment Agency said on Wednesday, after the country launched a major investigation into sewage treatment in November. The agency and water regulator Ofwat last month launched an investigation into sewage treatment after water companies admitted they …
UK fines water firm Severn Trent $2 million for illegal sewage discharges Read More »
ZURICH (Reuters) – Credit Suisse Chairman Antonio Horta-Osorio broke COVID-19 rules during a recent visit to Switzerland by leaving the country during a 10-day quarantine period, Switzerland’s second-largest bank said on Wednesday. The bank said it “regretfully acknowledged” the breach, which occurred when Horta-Osorio entered the country on Nov. 28 during a time when 10-day …
Credit Suisse says chairman broke Swiss quarantine rules Read More »
By Huw Jones LONDON (Reuters) -Losses from crypto-related investments should not be eligible for compensation schemes given that the sector can help spread serious crime, Britain’s Financial Conduct Authority said on Wednesday. FCA’s chief executive, Nikhil Rathi, said there was a need to “draw some pretty clear lines” around the Financial Services Compensation Scheme when …
Do not compensate investors for crypto losses, UK financial watchdog CEO says Read More »
