By Johann M Cherian and Shristi Achar A (Reuters) -UK’s blue-chip index edged higher on Friday as financial stocks rose on a government move to overhaul the sector, while investors awaited interest rate decisions from major central banks next week. The FTSE 100 edged up 0.1% after three consecutive sessions of losses, while the domestically …
FTSE 100 ends higher as financials rise on moves to reform sector Read More »
(Reuters) – European shares rose on Friday as industrial and financial stocks gained on optimism over China relaxing COVID curbs, while Credit Suisse climbed on news of a capital raise. The region-wide STOXX 600 index was up 0.2% at 0810 a.m. GMT and appeared set to snap a five-day losing streak that was largely driven …
European shares rise as industrials, financials gain on China optimism Read More »
(Reuters) – Pendragon Plc’s top investor Hedin Mobility has dropped its takeover pursuit of the British auto retailer, citing challenging market conditions and an uncertain economic outlook, sending its shares down 25%. Hedin, which owns nearly 28% of Pendragon, had proposed to buy the London-listed company for 29 pence per share, valuing it at about …
Pendragon skids 25% as investor drops deal pursuit on uncertain outlook Read More »
By Huw Jones LONDON (Reuters) – Britain’s finance ministry on Friday set out plans to overhaul the financial sector, including a review of rules to make bankers accountable for their decisions and easing capital requirements for smaller lenders. The City has been largely cut off from the European Union by Brexit, putting pressure on the …
UK sets out financial regulation reforms, including review of accountability rules Read More »
By David Milliken LONDON (Reuters) – Britain’s government said on Friday that it plans to change the law to require the Bank of England’s Prudential Regulation Authority (PRA) to focus more on the financial sector’s global competitiveness, as part of wider-ranging reforms. The PRA, which regulates British banks and insurers, already has a duty to …
UK government tells BoE to focus more on global banking competitiveness Read More »
LONDON (Reuters) – The Bank of England said on Friday that it would work with Britain’s finance ministry to ensure a safe and competitive financial system, in a response to a raft of regulatory proposals released earlier in the day. “We look forward to working with HMT (Treasury) on the proposals announced today, and will …
BoE says it will work with government on new regulatory reforms Read More »
NICOSIA (Reuters) – Euro zone banks are relatively healthy at the start of the economic downturn and a key priority will be to keep down the stock of soured loans, European Central Bank supervisory chief Andrea Enria said on Friday. Enria added that supervisors must stay alert to the potential systemic risk from crypto assets …
Euro zone banks must keep down stock of bad loans in downturn, ECB says Read More »
(Reuters) – Berkeley Group Holdings kept its annual profit outlook for the 2023 fiscal year on Friday, but turned more cautious on new investments as the British high-end homebuilder reported a small fall in half-year profit. Berkeley also reaffirmed shareholder returns plans running till September 2025, at a time when UK homebuilders are facing slowing …
Berkeley reaffirms 2023 earnings outlook after small interim profit fall Read More »
LONDON (Reuters) – Britain on Friday set out plans to overhaul the financial sector including a review of rules to make bankers accountable for their decisions and easing capital requirements on smaller lenders. Here are some of the measures announced: – Reforming the Ring-Fencing Regime for Banks – Issuing new remit letters for the PRA …
LONDON (Reuters) – Britain’s Financial Conduct Authority said on Friday it had fined Santander 107.7 million pounds ($132 million) for “serious and persistent” gaps in the Spanish bank’s anti-money laundering controls for more than 560,000 business customers. The FCA said that between 31 December 2012 and 18 October 2017, Santander’s UK arm failed to properly …
UK financial watchdog fines Santander bank $132 million Read More »
