UBS, Credit Suisse face wider US probe over Russia sanctions -Bloomberg News
Logos of Swiss banks UBS and Credit Suisse are seen on an office building in Zurich, Switzerland March 19, 2023....
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US investors want clarity on Biden’s vague curbs on China tech
WASHINGTON/NEW YORK, Sept 27 (Reuters) - U.S. financial firms are pushing for greater clarity on proposed new rules curbing U.S. investments in some China technology sectors which they say are too vague and put the onus of compliance on investors.Aiming to protect national security and prevent U.S. capital from aiding China's military, President Joe Biden issued an executive order last month restricting new U.S. investments in sensitive Chinese technologies. The Treasury Department subsequently kicked off a rule-making process to implement the order, and financial firms have been rushing to meet...
Reforms could boost World Bank lending to developing countries by nearly $190 bln -study
The World Bank logo is seen at the 2023 Spring Meetings of the World Bank Group and the International Monetary...
Banks in EU largely comply with ‘Basel Endgame’, says watchdog
LONDON, Sept 26 (Reuters) - Banks in the European Union already largely meet stricter global capital requirements ahead of a...
Analysis: Inflation, budget risks await Polish vote winner
Risk of inconclusive Oct. 15 election loomsLarge rate cut ahead of ballot raises inflation risksEconomy strong, but medium-term fiscal pressures risingWARSAW, Sept 25 (Reuters) - Less than three weeks ahead of Poland's hotly contested general election, Warsaw pensioner Jadwiga Buczek is feeling better about a cost of living crisis which, for the past two years, has hit central Europeans harder than most."Let me tell you, there was a time when I couldn't even afford to buy salmon, for example. And now I'll go and buy myself a piece of salmon...
Britain, EU to hold first meeting of financial services forum next month
LONDON, Sept 25 (Reuters) - The newly-agreed forum for regulatory cooperation between Britain and the European Union will hold its...
Trading platform Aquis sees earnings boost from EU share price feed plans
A view of the City of London and Canary Wharf, Britain March 19, 2023. REUTERS/Yann Tessier/File Photo Acquire Licensing RightsLONDON,...
EU court says $748 million Belgian tax scheme is illegal state aid
BRUSSELS, Sept 20 (Reuters) - European Union's second-top court on Wednesday backed an EU competition regulator's decision against a 700-million-euro ($748 million) Belgian tax scheme for 55 multinationals, in a major win for EU antitrust chief's crackdown on sweetheart tax deals.The Luxembourg-based General Court had in 2019 annulled Margrethe Vestager's decision after Belgium and about 30 of the companies challenged it.Beneficiaries of the Belgian scheme that dated from 2005 included U.S. manufacturer Magnetrol, oil company BP (BP.L), chemical producer BASF (BASFn.DE), Wabco, Cellio, Atlas Copco (ATCOa.ST) and Belgacom, now Proximus...
Stricter bank capital rules ‘very bad’ for UK – NatWest CFO
A woman carrying a Union Flag umbrella stands near the Bank of England in the City of London, Britain, July...
U.S. business optimism about China outlook falls to record low – survey
U.S. and Chinese flags are seen in this illustration taken Jan. 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSHANGHAI, Sept 19 (Reuters) - Geopolitics and a slowing economy are fuelling pessimism among U.S. businesses operating in China, with the proportion of firms optimistic about their five-year outlook in the country falling to a record low, a survey released on Tuesday said.Even after the ending of COVID curbs, which weighed heavily on both revenues and sentiment in 2022, the percentage of surveyed U.S. firms optimistic about the five-year China business outlook...