Britain's proposals to loosen capital rules for insurers will increase the chances of an insurance company failing by 20% in a given year, the Bank of England has told lawmakers, reiterating its caution over the government's plan.
The main U.S. stock indexes were on track for a mixed open on Tuesday as Treasury yields resumed their gains on bets of more interest rate hikes from the Federal Reserve.
U.S. payment giants Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms after a string of high-profile collapses shook faith in the industry, people familiar with the matter told Reuters.
The pound held steady on Tuesday, retaining gains overnight after Britain struck a new trade deal with the European Union, which brightened the outlook for the post-Brexit UK economy and signalled improved relations between London and the bloc.
G20 finance chiefs have been unable to reach a consensus on describing the war in Ukraine and are likely to end a meeting in India on Saturday.
World shares limped toward their biggest weekly fall of the year on Friday, though investors took heart from a brief dip in government bond yields as the incoming Bank of Japan chief ruled out an early end to its super-easy monetary policy.
Investors such as pension funds and family offices plan to increase allocations to credit and global macro hedge funds in 2023, although their overall appetite for hedge funds is weaker this year, a survey by Barclays PLC showed on Friday.
British banks face a tougher battle for mortgage customers and business borrowers in 2023, as rising costs and deposit rates paid to long-suffering savers threaten to outpace flatlining profit margins, senior industry executives and analysts said.
The World Bank said Wednesday it hopes to find a successor by early May to chief David Malpass, who has announced he will step down nearly a year early.
The dollar and sterling were buoyant on Wednesday, after a surprise rebound in business activity in the United States and the UK raised the likelihood that their respective central banks would have further to go in raising interest rates.
United Kingdom inflation eased to 10.1% in January 2023 and eased the pressure on the Bank of England. Many retailers, however, need to maintain higher product prices.
Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union's pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc's executive has said.
British bank NatWest on Friday posted a jump in annual profits as it trimmed costs and the sector benefitted from rising interest rates.
British inflation fell by more than expected in January and there were signs of cooling price pressure in parts of the economy watched closely by the Bank of England, adding to signs that further hefty interest rate hikes are unlikely.
The World Bank is particularly concerned in the Middle East and North Africa region about Lebanon and Tunisia and, to a lesser extent, Egypt and Jordan, the bank's vice president for MENA said on Tuesday.
The dollar was broadly lower on Tuesday ahead of a keenly anticipated inflation report, while the yen strengthened as surprise pick Kazuo Ueda was nominated to be the next governor of Bank of Japan.
Shares in Brazil's Banco Bradesco SA fell to their lowest level in almost two years on Friday after the bank reported fourth-quarter net income equivalent to less than half that of analysts' estimates.
European banks risk jeopardising the path to net-zero carbon emissions and the growth of renewable energy unless they stop directly financing new oil and gas fields this year, investors managing assets worth more than $1.5 trillion said on Friday.
Citigroup Inc may see more net interest margin (NIM) pressure than the other four big U.S.
New IRIS Software Group industry analysis reveals businesses must be vigilant when choosing their accountancy firm in 2023.
For generations, society has grappled with the question of whether money brings happiness. Now a new book has some answers - with the data to back it up.
The dollar extended its rally on Monday after a strong U.S. jobs report suggested the Federal Reserve could stay hawkish for longer
The European Central Bank is set to raise interest rates again on Thursday and pencil in more hikes for the next few months, with the only open question being how big these will be.
The move was hailed by the nation's republican movement, which noted that Indigenous people predated British settlement by 65,000 years.
The Bank of England is poised to raise interest rates for the 10th time in a row on Thursday to keep up its fight against rampant inflation, but it might also drop a hint about when the steep climb in borrowing costs will end.
European Union banking regulators on Tuesday launched a stress test to check how banks could cope with a long period of high inflation and interest rates just as the European Central Bank is expected to raise borrowing costs further.
The dollar was eyeing a fourth monthly loss on Tuesday as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting.
Investors have amassed the biggest bet against German government bonds since 2015, as the country issues large amounts of debt and the European Central Bank (ECB) talks tough on inflation.
The dollar languished near an eight-month low on Monday ahead of a slew of central bank meetings this week, while higher Spanish inflation data supported the euro ahead of euro area readings on Wednesday.
The European Central Bank is expected to push on with its inflation fight Thursday with a fresh rate hike, even as signs grow the eurozone might have passed the worst of an economic shock.
