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Pelosi praises Taiwan, says Asian trip wasn’t to change status quo
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Suzuki Motor says demand strong despite economic concerns
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London Stock Exchange says Refinitiv costs and savings on track
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WPP boosts sales outlook but falls short of investors’ expectations
A regulatory double act: why the US & UK must collaborate
Date: August 5, 2022
By Ben Richmond, CEO and Founder at CUBE, the global RegTech Since the UK left the EU, there has been a growing move towards localised legislation. The rhetoric of “taking back control” has materialised in changes to well-rooted legislation – from Solvency II to the Financial Services and Markets Act. From the beginning, the FCA...
Hargreaves Lansdown shares hit 2.5 month high on profit beat
Date: August 5, 2022
By Sinchita Mitra (Reuters) – Hargreaves Lansdown Plc on Friday beat annual profit expectations helped by better cost management, sending shares in the British investment platform to a 2-1/2-month high. Last year Hargreaves battled soaring costs which hit its underlying annual profit and prompted it to launch strategic initiatives to manage costs efficiently. “This past...
Sterling creeps lower vs dollar after BoE’s gloomy outlook
Date: August 5, 2022
LONDON (Reuters) – The British pound eased against the U.S. dollar on Friday, a day after the Bank of England (BoE) raised interest rates by the most in 27 years in an attempt to smother surging inflation but delivered a stark warning about growth. The BoE lifted its main interest rate by 50 basis points...
European shares fall as energy stocks weigh; focus on U.S. jobs data
Date: August 5, 2022
By Bansari Mayur Kamdar (Reuters) – European shares edged lower on Friday as crude prices continued to weigh on energy stocks, with all eyes on U.S. jobs data expected later in the day. The pan-European index STOXX 600 was down 0.1% amid worries that the U.S. Federal Reserve’s aggressive pace of rate hikes would slow...
Ukraine and Russia: What you need to know right now
Date: August 5, 2022
(Reuters) – Three grain ships left Ukrainian ports while the first inbound cargo vessel since Russia’s invasion was due in Ukraine later in the day to load, as Kyiv called for the safe passage deal to be extended to other cargoes such as metals. ECONOMY/DIPLOMACY * A Turkish bulk carrier is expected to arrive in...
Allianz shells out 140 million euros to shut U.S. fund unit after fraud
Date: August 5, 2022
By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Allianz spent around 140 million euros ($143.11 million) on restructuring to wind down a U.S. funds unit at the centre of a multi-billion fraud, the German insurer disclosed on Friday, an expense that added to a worse-than-expected 23% fall in quarterly profit. Allianz in May agreed to...