Reuters UK Business

By Alistair Smout LONDON (Reuters) – Britain said on Wednesday that post-Brexit trade arrangements with Canada that enable its carmakers to avoid high tariffs there were likely to expire next week, marking the latest deterioration in trade ties between the historic allies. Britain and Canada paused talks over a new free trade agreement in January …

UK says rules of origin deal with Canada probably won’t be extended Read More »

By Tatiana Bautzer NEW YORK (Reuters) -JPMorgan Chase seeks to expand the reach of its wealth management business and bring in more investments by offering a new planning tool to its 54 million Chase retail customers. The Wealth Plan tool had about 10 million users active over the last three months, said Sam Palmer, the …

JPMorgan bets on new wealth planning tool to draw investments Read More »

WARSAW/BRUSSELS (Reuters) -Ambassadors from European Union countries reached a revised deal on Wednesday to extend tariff-free food imports from Ukraine – with restrictions – after some states complained the original agreement risked destabilising the bloc’s agricultural markets. The agreement now goes to the European Parliament, where diplomats expect a push to add more restrictions, as …

EU envoys strike new deal on Ukraine food imports Read More »

ST GALLEN, Switzerland (Reuters) – The Swiss National Bank was able to lower its benchmark interest rate last week because inflation pressure has declined, Vice Chairman Martin Schlegel said on Wednesday. The SNB last week became the first major central bank to cut interest rates, reducing its policy rate to 1.5%. It also lowered its …

Lower inflation pressure enabled rate cut: SNB vice chairman Read More »

ZURICH (Reuters) – UBS has sealed the sale of Credit Suisse’s securitised products business to Apollo Global Management as part of efforts to shed non-core assets after its takeover of the collapsed banking group. Apollo will purchase $8 billion of “senior secured financing facilities”, UBS said on Wednesday, adding that it expects to make a …

UBS sells $8 billion of Credit Suisse assets to Apollo Read More »

By Giuseppe Fonte ROME (Reuters) -Italy has broadly met re-privatisation commitments agreed with Brussels over bailed-out bank Monte dei Paschi di Siena (MPS) after the market placement of a 12.5% stake, Economy Minister Giancarlo Giorgetti said on Wednesday. The Treasury sold the stake through an accelerated bookbuilding procedure (ABB) on Tuesday, pocketing 650 million euro …

Italy says it has broadly met EU commitments on Monte Paschi Read More »