Financial News
German Parliament passes anti-money-laundering laws
The German Parliament passed a raft of anti-money-laundering measures to bring the country in line with EU directives. The reform packet imposes…
Visa discloses FTC probe on debit transactions
Visa Inc said the Federal Trade Commission (FTC) has initiated an inquiry into whether the payments processor’s actions prohibited merchants from using…
Moody’s downgrades UK’s credit outlook
Leading ratings agency Moody's has signalled it is poised to downgrade the credit rating on Britain's government debt, warning that Brexit has…
Jail terms for 13 bankers over Monte Paschi scandal
Thirteen former bankers from Monte dei Paschi di Siena, Nomura and Deutsche Bank were sentenced to jail on Friday after a case…
Billionaires’ wealth falls for the first time in a decade
The world’s richest people became a little less well off last year, according to a report by UBS and PwC, as geopolitical…
Bank of England split on rates as it warns Brexit deal would hit growth
The Bank of England has warned that weak global growth and trade barriers created by the government's Brexit deal will hit the…
Banks, funds propose shorter trading day in Europe
Banks and fund managers want the European stock trading day shortened by 90 minutes in a radical move they say would improve…
UK will not appoint new BoE chief before December 12 election
Britain’s government will not name a successor to Bank of England Governor Mark Carney before a national election due on Dec. 12,…
De La Rue warns on profit again
Passport maker De La Rue warned on Wednesday that its annual profit would be significantly lower than market expectations, as its new…
UniCredit says 3 million clients hit by data breach
Italian banking giant UniCredit said Monday that around three million of its clients in Italy were affected by a data breach in…
HSBC restructuring plans fuel fears of job cuts
HSBC is planning to restructure its business after the banking giant said its performance in parts of Europe and the US was…
Euro zone corporate lending growth plunges in Sept
Bank lending to euro zone companies plunged last month, suggesting that the bloc’s economic slowdown is finally slowing lending after a period…