Reuters UK Business

(Corrects first paragraph to say that BlackRock will manage about $80 billion in Citi’s client assets, not that Citi will tranfers those assets to BlackRock.) By Ateev Bhandari (Reuters) -BlackRock struck a deal with Citigroup to manage about $80 billion in assets for the bank’s wealth management clients, Citi said on Thursday. The move highlights …

BlackRock to run $80 billion for Citi as bank refocuses wealth unit Read More »

By Amy-Jo Crowley LONDON (Reuters) -The owner of Global Loan Agency Services (GLAS) is exploring selling its stake in the debt administration services firm, three people familiar with the matter told Reuters, which would be the latest deal in a sector that is attracting billions of pounds from investors. U.S. buyout firm Levine Leichtman Capital Partners …

Levine Leichtman weighs selling stake in debt fund administrator GLAS, sources say Read More »

(Reuters) -London shares rose on Thursday, led by gains in consumer staples and bank stocks, while investors assessed corporate updates. The blue-chip FTSE 100 closed up 0.4%, while the domestically focussed midcap index rose 0.8%. Retail stocks were boosted by Currys’ 15.6% rise after the electricals retailer said group sales rose 3% in the summer …

London stocks rise supported by consumer staples and banks Read More »

By Valentina Za and Tom Sims FRANKFURT (Reuters) -UniCredit respects German opposition to a full takeover of Commerzbank, but shareholders would have the last word on any potential deal, the Italian bank’s chief executive said on Thursday. Over the past year, UniCredit has built up a 29% stake in the German bank and pressed for …

UniCredit CEO says shareholders have the last say on Commerzbank Read More »

By Tom Sims FRANKFURT (Reuters) -JPMorganChase will launch its Chase digital retail bank in Germany in the second quarter of next year, it said on Thursday, a bold move into the crowded banking market of Europe’s largest economy. The U.S. banking giant has been preparing the launch in recent years with a spate of hiring, …

JPMorgan to launch digital retail bank in Germany in 2026 Read More »

By Johann M Cherian (Reuters) -European shares closed higher on Thursday as heightened expectations for a U.S. Federal Reserve interest rate cut lifted markets, while easing pressures on bond market also supported the main index. The pan-European STOXX 600 jumped 0.66% to 550.39 points at the close, with gains led by the media and telecommunication …

European shares end stronger on firmer Fed rate-cut bets Read More »

LONDON (Reuters) -Britain’s finance ministry said on Thursday that it had named Stephen Blyth, a mathematician and former banker previously in charge of Harvard University’s endowment fund, to a part-time role on the Bank of England’s Financial Policy Committee. The FPC monitors risks facing Britain’s financial system and sets rules on bank capital levels and …

UK names former Harvard fund manager Stephen Blyth to Bank of England FPC Read More »

By Iain Withers, Elizabeth Piper and Virginia Furness LONDON (Reuters) -Britain will not back a high-profile initiative to form a multilateral defence bank, dealing a blow to a plan to create a global state-backed lender to help rearm countries. For the first time since former NATO security advisers, senior British ex-military personnel and bankers publicly …

Exclusive-Britain rules out backing for global defence bank Read More »