HONG KONG, Aug 4 (Reuters) – China and Saudi Arabia’s stock exchanges are in talks to allow exchange-traded funds (ETFs) to list on each other’s bourses, three sources familiar with the matter said, as the countries look to deepen financial ties amid warming diplomatic relations. The talks are in the early stages, said the sources, […]
DUESSELDORF, June 14 (Reuters) – A German regional court said on Friday that prosecutors and defence lawyers have requested the termination of the criminal trial of a prominent banker who is accused of playing a role in an alleged 10 billion euro ($10.7 billion) tax fraud scheme. Christian Olearius, who has maintained that he did […]
Hong Kong’s stock exchange plans to take the hatchet to directorships to whittle down the concentration of board seats among the city’s corporate elites to improve governance, a challenge that its chief executive called a “perpetual work in progress.” Hong Kong Exchanges and Clearing Limited (HKEX) is seeking public feedback on its plan to limit […]
NEW YORK, June 13 (Reuters) – Goldman Sachs (GS.N), opens new tab aims to double its lending over the next five years to ultra-wealthy private bank clients with account sizes exceeding $10 million, as it gathers more deposits to supercharge lending, the bank’s private banking chief told Reuters. The plans, previously unreported, were disclosed to Reuters by […]
NEW YORK, June 13 (Reuters) – Visa’s (V.N), opens new tab and Mastercard’s (MA.N), opens new tab proposed $30 billion antitrust settlement to limit credit and debit card fees for merchants is in peril, after a New York judge signaled she was preparing to reject the accord. U.S. District Judge Margo Brodie in Brooklyn told lawyers for the card […]
June 11 (Reuters) – A Tesla (TSLA.O), opens new tab shareholder vote on Thursday on whether to reinstate CEO Elon Musk’s $56 billion pay package that was shot down by a Delaware judge will not provide a quick resolution, irrespective of the tally’s results. Tesla’s board is hoping shareholder approval will give the electric vehicle maker the legal ammunition it needs […]
STOCKHOLM, June 13 (Reuters) – The Swedish parliament’s finance committee has proposed that the central bank receive a capital injection of 25 billion crowns ($2.40 billion), less than requested by the board, the Riksbank said on Thursday. The central bank in April asked parliament for a capital injection of 43.7 billion crowns following a fall in the […]
MADRID, June 11 (Reuters) – Spain’s stock market supervisor said on Tuesday it has started assessing BBVA’s (BBVA.MC), opens new tab 12.28 billion euro ($13.19 billion) hostile takeover bid for Sabadell (SABE.MC), opens new tab, a potential tie-up that Madrid opposes. The National Securities Market Commission (CNMV) said it had admitted BBVA’s (BBVA.MC), opens new tab application for authorising the deal, […]
SINGAPORE, June 12 (Reuters) – DBS Group (DBSM.SI), opens new tab plans to boost assets under management for its wealth business to S$500 billion ($369.7 billion) by the end of 2026, said the unit’s head, as the top Singaporean bank bets on robust inflows into the city state. Wealth assets at DBS grew 23% to a record […]
LONDON, June 13 (Reuters) – Britain’s Revolut is to become the first tenant in a newly refurbished building in London’s Canary Wharf financial district, taking on 40% more floorspace for its new headquarters as the fintech firm accelerates hiring. Bankers arriving in Canary Wharf will soon be greeted by giant “Revolut” logos on top of […]