Banking And Finance NEWS

Wheatley Review sets out Libor reform recommendations

Wholesale reform of Libor is needed in order to restore the credibility of the international benchmark, FSA managing director Martin Wheatley said today. Releasing his report on the future of the London inter-bank … Continue reading “Wheatley Review sets out Libor reform recommendations”


GE Capital partly exits Thailand’s Bank of Ayudhya in $466m deal

GE Capital, a unit of US technology and financial services group General Electric Co (NYSE:GE), said on Wednesday it had disposed of 7.6% in Bank of Ayudhya Pcl (PINK:BKAYY) in Thailand, after receiving … Continue reading “GE Capital partly exits Thailand’s Bank of Ayudhya in $466m deal”


City of London opposes tighter regulation of high-frequency trading

European politicians drafting tough new curbs on the controversial trading practice high frequency trading (HFT) have faced stiff resistance from the industry – especially the City of London. The European Parliament plans to … Continue reading “City of London opposes tighter regulation of high-frequency trading”


China Construction Bank seeks acquisitions in Europe — report

Chinese lender China Construction Bank Corp (SHA:601939), or CCB, is interested in buying a European bank, or a minimum of 30% to 50% in one and has CNY100bn (USD15.8bn/EUR12.01bn) of cash available to … Continue reading “China Construction Bank seeks acquisitions in Europe — report”


UPDATE 2: No problems with HSBC’s internet banking system

Banking giant HSBC has contacted Financial News and confirmed that there currently are no problems with the bank’s internet banking system. Nigel Hinshelwood, UK Retail Bank Chief Operating Officer at HSBC said: “There … Continue reading “UPDATE 2: No problems with HSBC’s internet banking system”


Swiss banks expect exodus as foreign tax authorities demand increased transparency

Swiss banks are expected to lose billions of francs in deposits and assets as cash-strapped European governments, struggling to balance their budgets, are applying pressure on Switzerland to introduce tighter rules to prevent … Continue reading “Swiss banks expect exodus as foreign tax authorities demand increased transparency”


Spanish deposits shrink by €74bn as recession deepens

Depositors in recession hit Spain withdrew EUR74bn from the country’s banks in July, according to figures from the European Central Bank (ECB). The deposit loss equals 7% of Spain’s GDP in a single … Continue reading “Spanish deposits shrink by €74bn as recession deepens”


France’s Credit Agricole still interested in selling stake in Spanish Bankinter

French banking group Credit Agricole SA (EPA:ACA) views the stake it owns in Spanish peer Bankinter SA (MCE:BKT) as non-strategic and it is still considering all options regarding a further sale of Bankinter … Continue reading “France’s Credit Agricole still interested in selling stake in Spanish Bankinter”


JPMorgan Asset Management to lift stake in Channel Island-based Aqua Resources

Channel Islands-based water infrastructure fund Aqua Resources Fund Limited (LON:H2O) said on Tuesday that the private equity arm of JPMorgan Asset Management had offered to buy more of its stock and raise its … Continue reading “JPMorgan Asset Management to lift stake in Channel Island-based Aqua Resources”


BBC Radio 4 explores ways to fix Britain’s broken banking system

On Saturday afternoon BBC’s Radio 4 reached the halfway point in a new series looking at what is wrong with British banking and how it might be repaired. ‘Fixing Broken Banking,’ presented by … Continue reading “BBC Radio 4 explores ways to fix Britain’s broken banking system”


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