March 13 (Reuters) – Pension insurance specialist Rothesay has agreed to buy the about 6 billion pound ($7.67 billion) Scottish Widows in force bulk annuity portfolio from Lloyds Banking Group (LLOY.L), opens new tab, the companies said on Wednesday. The bulk annuity deal covers the pension benefits of about 42,000 people and marks its sixth acquisition […]
LONDON, March 12 (Reuters) – It would be a bad idea for Britain to try to reduce pressure on the public finances by cutting the amount of interest the Bank of England pays on reserves held there by commercial banks, a junior Treasury minister said on Tuesday. Some former BoE officials have said the government could […]
BERLIN, March 11 (Reuters) – German inflation eased in February to 2.7%, the federal statistics office said on Tuesday, confirming preliminary data. German consumer prices, harmonised to compare with other European Union countries, had risen by 3.1% year-on-year in January. The statistics office gives more detailed monthly data
BRUSSELS, March 11 (Reuters) – European Union finance ministers on Monday set out priorities for creating a Capital Markets Union over the next five years to attract private capital to Europe and help fund the costly transition to a “green” and digital economy. The priorities list key areas of work for the next European Parliament […]
LONDON, March 11 (Reuters) – Britain’s financial regulator said on Monday it will not object to requests from recognised investment exchanges to launch UK-listed cryptoasset-backed exchange-traded notes. Such products would be only available for professional investors, such as investment firms and credit institutions authorised to operate in financial markets, the Financial Conduct Authority said in […]
WASHINGTON, March 7 (Reuters) – The U.S. banking sector saw its profits drop by nearly half in the last quarter of 2024, as large firms began paying hefty fees to help recoup costs incurred by several bank failures last spring, the Federal Deposit Insurance Corporation reported Thursday. Roughly 70% of the 43.9 The FDIC directed banks […]
HONG KONG, March 6 (Reuters) – Morgan Stanley (MS.N), opens new tab has laid off about 9% of its staff at its asset management business unit in China, two people with direct knowledge of the matter said, as the country’s spiralling stock market dampens prospects for its $3.8 trillion fund sector. Morgan Stanley Investment Management China started […]
NEW YORK, March 6 (Reuters) – Bankrupt crypto companies FTX and BlockFi have resolved their disputes stemming from the companies’ collapses in 2022, with FTX agreeing to pay BlockFi up to $874 million, according to court documents filed on Wednesday. The settlement is subject to approval by U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware. […]
LONDON, March 5 (Reuters) – Britain’s markets regulator will investigate whether small businesses are facing unnecessary barriers to growth because they are increasingly facing bank demands for personal guarantees when they seek loans. The Financial Conduct Authority (FCA) said on Tuesday the Federation of Small Businesses (FSB), a consumer body, had reported that lenders’ growing […]
LONDON/NEW YORK, March 5 (Reuters) – As Tether toasts $100 billion in circulation this week, the rapid rise of the world’s biggest stablecoin has highlighted concerns about potential risks to wider financial markets. The digital dollar-pegged token is designed to keep a constant value, something Tether says that it does by holding dollar-denominated reserves for […]