Financial regulations, particularly for benchmarks, are likely to be materially aligned in the UK and rest of Europe by the time Brexit is completed, however obtaining “equivalence” status for the UK might not be quite as straightforward, a number of sources close to the matter told Profit & Loss in recent weeks, with political reasons potentially playing a role in slowing down the process.
The International Energy Agency on Thursday trimmed its forecast for the rise in global oil demand next year on a dimmer economic outlook, warning that the “massive” stock overhang is keeping a lid on crude oil prices.
Brexit is hitting the housing market. Sales dropped the most since the financial crisis in 2008, according to data from the Royal Institution of Chartered Surveyors. Prices rose at the slowest pace in three years in July and new sales declined.
Germany’s high savings rate. A damaged euro zone banking system. Elevated sovereign-debt ratios in southern Europe.
Sweden is doing well: gross domestic product is expanding twice as fast as the euro zone’s and its budget deficit is shrinking more rapidly than expected.
Valeant Pharmaceuticals International Inc. is the subject of a criminal probe by federal prosecutors, who are investigating whether the drugmaker defrauded insurers by hiding its ties to a mail-order pharmacy, the Wall Street Journal reported Wednesday.
A former National Football League linebacker and his business partner have been charged with defrauding investors, including coaches the player knew from his time at Fork Union Military Academy and the University of Virginia.
R3 and 15 member banks of its consortium have completed two distributed ledger prototypes that it claims prove the usefulness of the technology in addressing USD FX trading issues.
Zurich Insurance Group AG said second-quarter profit fell 12 percent on higher restructuring charges and claims from natural catastrophes as Chief Executive Officer Mario Greco overhauls the company’s biggest unit.
German industrial conglomerate Thyssenkrupp AG reported a 34% slide in net profit for the third quarter of its fiscal 2016, weighed down by drops in global steel and material prices from a year ago.
At an auction of benchmark 10-year Treasuries on Wednesday, global investors sent a clear message to the $13.4 trillion market: They’re still interested.
An air of caution was evident in financial markets as oil retreated for a third day amid signs of a glut.
Like much of the sovereign-debt universe, China’s bonds are rallying too. And that’s where the similarities end. Despite a rising number of defaults on corporate and state-backed debt, yields on 10-year Chinese government bonds dropped to their lowest in seven years this week, touching 2.71%.
Economists from the International Monetary Fund have urged the European Central Bank to concentrate on asset purchases rather than cutting its already negative interest rates again, if it needs to stimulate the euro zone economy again.