Barclays hit by $361 million U.S. penalty for ‘staggering’ blunder

Barclays hit by 1 million U.S. penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with U.S. regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO C.S. Venkatakrishnan’s first year in charge. Barclays shares rose 2% in early trading … Read more

IMF and Moody’s censure UK policy that sparked market turmoil

IMF and Moody’s censure UK policy that sparked market turmoil

IMF does ‘not recommend’ policies like UK growth plan Moody’s: economic plan is ‘growth negative’ Pound trading down 0.5% to $1.0681 Bond strategists warn market almost untradeable LONDON, Sept 28 (Reuters) – The International Monetary Fund and ratings agency Moody’s ramped up pressure on Britain to reverse a new economic strategy that was roiling financial … Read more

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Pound briefly touched a record low against dollar Five-year gilts match Friday’s record daily slump Yields on 2-year and 5-year debt up 100 bps in 2 days Finance minister to detail fiscal plans on Nov. 23 BoE monitoring developments ‘very closely’ LONDON, Sept 26 (Reuters) – The Bank of England said on Monday it would … Read more

Exclusive: Credit Suisse sounds out investors about capital hike – sources

Exclusive: Credit Suisse sounds out investors about capital hike – sources

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com Register ZURICH, Sept 23 (Reuters) – Credit Suisse is sounding out investors for fresh cash, two people familiar with the matter said, approaching them for the … Read more

Britain bets all on historic tax cuts and borrowing, investors take fright

Britain bets all on historic tax cuts and borrowing, investors take fright

Register now for FREE unlimited access to Reuters.com Register Kwarteng cuts top rate of income tax in dash for growth Huge increase in UK government debt issuance planned Gilts suffer biggest slump in decades Pound falls to new 37-year low against dollar LONDON, Sept 23 (Reuters) – Britain’s new finance minister Kwasi Kwarteng unleashed historic … Read more

IDB directors unanimously recommend firing of Claver-Carone after ethics probe

IDB directors unanimously recommend firing of Claver-Carone after ethics probe

Visitors walk past a screen with the logo of Banco Interamericano de Desarrollo (BID) at the Atlapa Convention Center in Panama City March 13, 2013. REUTERS/Carlos Jasso Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 22 (Reuters) – The Inter-American Development Bank’s board of directors voted unanimously on Thursday to recommend firing … Read more

New York still top, Moscow sinks in finance centre ranking

New York still top, Moscow sinks in finance centre ranking

Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 22 (Reuters) – New York remains far and away the world’s most favoured financial centre, with London still second and Singapore overtaking Hong Kong to come in third, latest rankings from the Global Financial Centres Index (GFCI) showed on Thursday. Paris returned to the … Read more

Fed feeds recession fears, Japan steps in to support yen

Fed feeds recession fears, Japan steps in to support yen

Fed surprises with aggressive hike projections Japan intervenes in FX as dollar/yen breaks 145 Central bank bonanza as UK, Switzerland and Norway hike LONDON, Sept 22 (Reuters) – World stocks were close to a two-year low and Japan was forced to intervene to prop up the yen for the first time since 1998 on Thursday … Read more

Cryptoverse: After Merge, ether heads for a $20 billion Shanghai splurge

Cryptoverse: After Merge, ether heads for a  billion Shanghai splurge

Souvenir tokens representing cryptocurrency networks Bitcoin, Ethereum, Dogecoin and Ripple plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register Sept 20 (Reuters) – The Merge came, saw and conquered. Not that you’d guess from crypto prices. The Ethereum blockchain’s mega-upgrade finally went … Read more

U.S. bank regulators consider new rules for regional banks in times of crisis, Wall Street Journal reports

U.S. bank regulators consider new rules for regional banks in times of crisis, Wall Street Journal reports

People walk wearing masks outside The Federal Reserve Bank of New York in New York City, U.S., March 18, 2020. REUTERS/Lucas Jackson/File Photo/File Photo Register now for FREE unlimited access to Reuters.com Register Sept 18 (Reuters) – A group of bank regulators appointed by U.S President Joe Biden is considering new rules which will require … Read more