EU finance ministers to oppose U.S.-led reform of global bank rules: document
BRUSSELS (Reuters) – European Union finance ministers will issue a statement at their meeting next week urging bank regulators to avoid imposing a disproportionate increase of costs on European banks, draft conclusions of the meeting said.
France overtakes Britain as world’s No. 5 economy after pound drops
PARIS (Reuters) – France and Britain were vying for fifth place on the list of the world’s biggest economies on Wednesday, with France nudging ahead after a renewed slump in the pound in the wake of the Brexit vote, Reuters calculations showed.
Exclusive: Deutsche Bank to sell $1 billion of shipping debt to boost capital – sources
LONDON/FRANKFURT (Reuters) – Deutsche Bank is looking to sell at least $1 billion of shipping loans to reduce its exposure to a sector whose lenders face closer scrutiny from the European Central Bank, sources told Reuters.
France lures London bankers with extra expat tax break
PARIS (Reuters) – The French government pledged on Wednesday to make its tax regime for expatriates the most favorable in Europe in a landgrab for London banking business displaced by Britain’s decision to quit the European Union.
Tesla told regulators about Autopilot crash nine days after accident
SAN FRANCISCO/DETROIT (Reuters) – Tesla Motors alerted regulators to a fatality in one of its electric cars in partial self-driving Autopilot mode nine days after it crashed, the company said on Tuesday, defending its decision not to make the accident…
Oil prices edge lower on concerns about demand
LONDON (Reuters) – Oil edged lower on Wednesday, extending losses to a third straight session, as investors grew concerned over consumption due to weaker demand from refineries and potentially slower economic growth after Britain’s decision to leave th…
In up-to-$10 billion IPO, China’s PSBC eyes ticket to online financial services boom
HONG KONG (Reuters) – As part of plans for an up-to-$10 billion initial public offering, Postal Savings Bank of China (PSBC) aims to transform itself from a brick-and-mortar lender into a digital player, helped by its investors Ant Financial and Tencen…
Air Liquide sees slower growth after U.S. Airgas deal
PARIS (Reuters) – France’s Air Liquide warned of slower growth in sales and profitability on Wednesday despite a recent U.S. acquisition designed to offset poor economic prospects in Europe, pushing its shares more than 3 percent lower.
Gold races to 28-month high, oil pressured as Brexit fears return
MANILA (Reuters) – Gold rallied to its highest since 2014 on Wednesday and oil struggled to recover from deep losses, as renewed fears over the impact of Britain’s exit from the European Union pushed investors toward safe havens.
Brexit shock may boost, not hinder, yuan internationalization
HONG KONG (Reuters) – London’s role as a major offshore yuan hub is likely to survive Britain’s decision to leave the European Union, but the vote could help foster the Chinese currency’s internationalization by encouraging multiple yuan hubs in the bl…
