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By Huw Jones LONDON (Reuters) – The European Union flagged tougher requirements on Wednesday for commodity companies using derivatives markets after failing to meet higher collateral calls when gas prices rocketed due to Russia’s invasion of Ukraine. The EU’s executive European Commission proposed the changes in a draft law updating rules on clearing derivatives to …

EU starts crackdown on commodity firms using derivatives markets Read More »

By Huw Jones LONDON (Reuters) – European Union plans to shift derivatives clearing worth trillions of euros from London to the bloc have ditched hardline rhetoric in favour of pragmatism that should limit the risk of EU banks losing out to foreign rivals. Clearing, which ensures a stock or bond trade is completed even if …

Analysis-EU avoids sledgehammer to crack euro clearing nut – for now Read More »

By Lawrence White LONDON (Reuters) -Barclays said it had appointed Alistair Currie as chief operating officer on Wednesday, replacing Mark Ashton-Rigby, in a management reshuffle by Chief Executive C.S. Venkatakrishnan. Currie had headed the lender’s consumer banking and payments business, and will be replaced in that role by Vim Maru, who joins from Lloyds Banking …

Barclays names Currie as chief operating officer in management reshuffle Read More »

By Chris Taylor NEW YORK (Reuters) – If you ever want to start a raging family debate over the holiday dinner table, forget religion or politics – just bring up the subject of tipping. There are so few established norms on year-end giving viewpoints about who should get tips over the holiday season – and …

Tipping Point: New tip guidelines for holiday giving Read More »

By Svea Herbst-Bayliss and Greg Roumeliotis (Reuters) -Tiny activist investor Bluebell Capital Partners is taking aim at BlackRock and wants to replace longtime CEO Larry Fink, criticizing the world’s largest asset manager as being inconsistent in its focus on environmental, social and corporate governance (ESG) issues. Bluebell, with roughly $250 million in assets, said BlackRock, …

Activist investor Bluebell targets BlackRock, seeks ouster of CEO Fink Read More »

NEW YORK (Reuters) – Pinterest on Tuesday said it reached a deal with Elliott Management, the activist investment firm that has offered up ideas on how to improve operations at the image sharing and social media service company. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. The …

Pinterest reaches deal with activist Elliott; Steinberg to join board Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) -For much of Wall Street, trading this year has been like riding a wild roller coaster. For thousands of employees of Citadel and Citadel Securities, the hedge fund and trading business founded by Ken Griffin, last weekend was spent riding the real things. Griffin paid out of his own …

Citadel celebrates banner year at Disney as Wall Street nurses losses Read More »

MEXICO CITY (Reuters) – Brazilian digital bank Nubank, Latin America’s largest fintech, announced on Tuesday a $330 million equity capitalization in Mexico, as it pushes to expand operations there. The investment adds to the $1 billion the company has previously invested in Mexico, it said in a statement, adding that the move makes it one …

Brazil’s Nubank announces $330 million equity capitalization in Mexico Read More »

By Foo Yun Chee BRUSSELS (Reuters) -Deutsche Bank and Rabobank were charged by EU antitrust regulators on Tuesday of taking part in a government bond cartel, the latest move against a sector which has racked up millions of euros in fines for various competition violations. The European Commission, which can fine companies up to 10% …

Deutsche bank, Rabobank hit with EU antitrust charge over bond cartel Read More »